Hottest Pharma/Biotech job market in the last 20 years?

[letsquitpharm]

Update from the last post: Pfizer Compensation.......in San Diego

I have been interviewing left and right since last week, averaging phone/video 2 interviews per day, and more headhunters are still coming in asking about my availability and interest in other opportunities. I am not sure about other people's experiences, but this is definitely not something I have anticipated at beginning of my job search... Is the pharma/biotech hiring surge this red hot right now?

I am scheduled to give a presentation/panel interview next week to a mid-sized, fastly growing biotech specializing in CAR-T with >1000 headcounts and R&D and manufacturing sites in China, US (NJ) and Ireland, and if everything goes well, I will be joining them as a principal scientist in quantitative clinical pharmacology, and the pay scale will be equivalent to sr. manager level. In my video interview with the assoc. director earlier this week, he explicitly asked about my interview progresses with other companies, and I was very candid with him, telling him that another mid-sized biotech based in San Diego of ~1000 people (not Pfizer lol) was very eager to fly me in and have an in-person interview asap (the director there even told me he had this job posted since early this year but can't find suitable candidates, for which I think is perfectly reasonable after my initial interview with him cuz he's clearly expecting too much out of a pharmacometrician, to have machine learning experience? I wonder how much of a compensation package they are willing to offer to a hybrid pharmacometrician + ML engineer role lol). After hearing that, The assoc. director told me right on the spot that they will expedite the whole process and make sure the offer will be extended before the holiday, after the panel interview next week if they think I am a good fit. TBH, I was shocked at their flexibility and responsiveness. I also experienced something similar with another US-based biopharma subsidiary of a South Korean conglomerate, the director also explicitly told me that if my interview progress with other companies exceeds theirs, let him know, and he will make sure that they can catch up and make it competitive...Again, I was so astounded.

My experience with established big names so far has been quite mixed though, as they tend to be much slower and busier I assume at this time of the year? Some are very responsive but not as keen as mid-sized companies, and some (yeah, I am talking about the one that acquired Celgene in particular) have been disappointing to work with (Their talent acquisition specialist has booked phone calls with me 3 times, and she ghosted me 3 times!) 🙄

Anyways, plz feel free to share your recent job hunting experience, whether it's industry or clinical, and I think it will be a good resource serving new grads and fellows/residents.

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[TranslationalRPh]

Update from the last post: Pfizer Compensation.......in San Diego

I have been interviewing left and right since last week, averaging phone/video 2 interviews per day, and more headhunters are still coming in asking about my availability and interest in other opportunities. I am not sure about other people's experiences, but this is definitely not something I have anticipated at beginning of my job search... Is the pharma/biotech hiring surge this red hot right now?

I am scheduled to give a presentation/panel interview next week to a mid-sized, fastly growing biotech specializing in CAR-T with >1000 headcounts and R&D and manufacturing sites in China, US (NJ) and Belgium, and if everything goes well, I will be joining them as a principal scientist in quantitative clinical pharmacology, and the pay scale will be equivalent to sr. manager level. In my video interview with the assoc. director earlier this week, he explicitly asked about my interview progresses with other companies, and I was very candid with him, telling him that another mid-sized biotech based in San Diego of ~1000 people (not Pfizer lol) was very eager to fly me in and have an in-person interview asap (the director there even told me he had this job posted since early this year but can't find suitable candidates, for which I think is perfectly reasonable after my initial interview with him cuz he's clearly expecting too much out of a pharmacometrician, to have machine learning experience? I wonder how much of a compensation package they are willing to offer to a hybrid pharmacometrician + ML engineer role lol). After hearing that, The assoc. director told me right on the spot that they will expedite the whole process and make sure the offer will be extended before the holiday, after the panel interview next week if they think I am a good fit. TBH, I was shocked at their flexibility and responsiveness. I also experienced something similar with another US-based biopharma subsidiary of a South Korean conglomerate, the director also explicitly told me that if my interview progress with other companies exceeds theirs, let him know, and he will make sure that they can catch up and make it competitive...Again, I was so astounded.

My experience with established big names so far has been quite mixed though, as they tend to be much slower and busier I assume at this time of the year? Some are very responsive but not as keen as mid-sized companies, and some (yeah, I am talking about the one that acquired Celgene in particular) have been disappointing to work with (Their talent acquisition specialist has booked phone calls with me 3 times, and she ghosted me 3 times!) 🙄

Anyways, plz feel free to share your recent job hunting experience, whether it's industry or clinical, and I think it will be a good resource serving new grads and fellows/residents.

Industry is very hot. Wife went on the market at the end of August. Received 5 job offers within 3 weeks, sign-in bonuses, higher title, etc. I get +10 inquiries a week. Also in the industry.

 

[wazoodog]

Industry is hot for sure. There is a shortage of qualified candidates and a lot of companies are looking. Earlier this year, I ended up accepting an offer that was significantly better than what I was getting (base alone was more than a 45% increase). Another company I had interviewed for reached out to me a few weeks after I told them I accepted another position. They wanted to check if I was satisfied and left the door open just in case. It's a job seekers market, so make the most of it because who knows how long it will last. A lot of companies are moving through the whole interview process at blinding speed since theyre using virtual interviews and considering candidates out of state and across the country even.

 

[projektreverb]

Silly question but what kind of experience would I need to get into an entry level position? Is the market equally hot there?

 

[letsquitpharm]

Silly question but what kind of experience would I need to get into an entry level position? Is the market equally hot there?

It depends on which function and role you are targeting. Some pharmacovigilance roles take fresh grads. CRC/CRA is also another route. Regulatory specialists take a lot of fresh grads too, but you may need extra training though.

 

[Sparda29]

It depends on which function and role you are targeting. Some pharmacovigilance roles take fresh grads. CRC/CRA is also another route. Regulatory specialists take a lot of fresh grads too, but you may need extra training though.

I mean, what would someone who has primarily inpatient experience be qualified for in industry? MSL?

 

[lord999]

Contracts are unusually hot right now. The current rates are 175-225% over prime which was right before 2008 as well. I don't know why.

 

[letsquitpharm]

I mean, what would someone who has primarily inpatient experience be qualified for in industry? MSL?

I am not too familiar with MSL hiring space, but I do know that if you have a network of regional key opinion leaders (KOLs) and PIs in one or more therapeutic areas, which align well with the company's pipeline, plus some inpatient experience, you can start approaching headhunters. Prior MSL exp is also highly valued.

 

[wazoodog]

Silly question but what kind of experience would I need to get into an entry level position? Is the market equally hot there?

There's no set formula for what kind of experience you need. The hardest part is still getting that foot in the door, but even entry level market I would say is better than years past. I've seen a recent hire in the past few months of a PharmD grad who only had an industry APPE under their belt plus a few months of retail. Another who isn't a HCP but joined as a full time intern before being converted.

 

[letsquitpharm]

Contracts are unusually hot right now. The current rates are 175-225% over prime which was right before 2008 as well. I don't know why.

I saw those crazy numbers on ranstad as well. CRAs, some are remote, are paying $60-70/hr, which makes me wonder what still keeps people in retail?

 

[wazoodog]

I mean, what would someone who has primarily inpatient experience be qualified for in industry? MSL?

Obviously, the easiest scenario is if you've done the job they're hiring for, but there is no set formula. It depends on how well and how broadly that someone can sell their experience and transferable skills to hiring managers from different functions.

You can have one person who has more relatable experience end up getting passed over for someone who outsold them with more limited experience. That in itself speaks to a skill set - an ability to be influential and a high degree of self awareness and confidence. Prior experience is not the only indicator someone will be successful in that position. As a candidate, you just need to show that you can do the job - which means you need to do more homework understanding what the work entails compared to someone who has done it. The rest is selling your fit, personality, and whar more you can bring.

 

[mentos]

Can someone explain to me like I'm 5 what industry is? What do they do? Do I need a CA Rph license?

I've done retail, inpatient and LTC. Can I get one of these hot job offers?

 

[grizzlesgrizzlies]

Can someone explain to me like I'm 5 what industry is? What do they do? Do I need a CA Rph license?

I've done retail, inpatient and LTC. Can I get one of these hot job offers?

Industry is heavily location dependent as most of these companies are headquartered in NJ, Boston, CA, as well as other parts.

I'm not located in any pharma hubs but my city has a lot of research hospitals, CROs, and some biotech firms.

The only way people like us can get in the door is to be located at any of these geographic areas, know someone already in the field, and be willing to take a contract role.

 

[wazoodog]

Can someone explain to me like I'm 5 what industry is? What do they do? Do I need a CA Rph license?

I've done retail, inpatient and LTC. Can I get one of these hot job offers?

Simple way to describe it is drug development and commercialization - at least those are the general areas where PharmDs tend to be. Development is everything revolving around understanding the safety and efficacy profile of the drug and getting a viable candidate to the market. Commercialization and surveillance is everything that comes after that - which is a lot but this is the 5 yr old oversimplified explanation.

You don't need a license since youre not practicing as a pharmacist nor are you dispensing drugs.

As to the job offer, it's just like any other competitive field. If you're persistent (and strategic) enough, and the chips fall your way in terms of opportunity and timing - I've seen more than a few pharmacists with similar background get a foot in the door. The first job is the hardest to land because that's when everything feels most ambiguous and unfamiliar. Most people haven't been exposed to that environment during pharm school, and you're pursuing a scientist path rather than a pharmacist path.

 

[letsquitpharm]

Industry is heavily location dependent as most of these companies are headquartered in NJ, Boston, CA, as well as other parts.

I'm not located in any pharma hubs but my city has a lot of research hospitals, CROs, and some biotech firms.

The only way people like us can get in the door is to be located at any of these geographic areas, know someone already in the field, and be willing to take a contract role.

There are a lot of remote jobs available too. I came across a ton of postings for sr. manager/assoc. director level hiring that can be fully remote, especially in clinical pharmacology/pharmacometrics. There are also quite many perm or contract jobs for CRAs right now, that can sometimes be remote and pay comparable wages to a typical retail pharmacist.

Many places I interviewed with also allow hybrid working schedule, like 2-3 days onsite then WFH, if fully remote is not an option.

 

[grizzlesgrizzlies]

There are a lot of remote jobs available too. I came across a ton of postings for sr. manager/assoc. director level hiring that can be fully remote, especially in clinical pharmacology/pharmacometrics. There are also quite many perm or contract jobs for CRAs right now, that can sometimes be remote and pay comparable wages to a typical retail pharmacist.

Many places I interviewed with also allow hybrid working schedule, like 2-3 days onsite then WFH, if fully remote is not an option.

A lot of CRA positions require monitoring experience which is hard to come by for pharmacists. What is the pathway for a pharmacist to become a CRA?

 

[letsquitpharm]

A lot of CRA positions require monitoring experience which is hard to come by for pharmacists. What is the pathway for a pharmacist to become a CRA?

Isn't part of a clinical pharmacist's routine job is monitoring patients and document checks? I have seen several fresh PharmD grads become CRAs last year.