Industry questions

[RunIt23]

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I’m currently a PGY-3 in the middle of interviewing for hemonc fellowship. While researching programs, I’ve noticed that a number of graduates from more academically focused institutions pursue careers in “industry” after fellowship.

I have a background in economics and enjoy following the markets, so I’m interested in gaining a clearer understanding of what “industry” really encompasses for heme/onc physicians. My sense is that it may include roles in consulting, pharmaceutical/biotech, or healthcare-focused hedge funds, but I’m not entirely sure.

I’d love to learn more about what these positions actually entail on a day-to-day basis, as well as how they compare in terms of compensation, long-term career trajectory, and overall upside.

 

[osprey099]

At best, they pay about half of what you can get in community practice/private practice.

 

[HemOncCheng]

if you can get into senior position, after 5-7 years, and assume their stock not crashing due to whatever reason (not substantially appreciate either like the tech ones), the stock worth lots of money as I heard
the entry job is about 300-350k adding everything

 

[NickPetti]

I jumped into a similar role last year and found that having solid systems in place made a huge difference. For managing production, inventory, and distribution workflows without getting buried in spreadsheets, using https://acupowererp.com/acumatica/manufacturing-edition really streamlined things for our team. It’s helped us keep track of everything without being overly complicated or needing constant IT support.

 

[gutonc]

I moved into industry after residency and really liked the work-life balance. The hours are predictable, and the pay is solid. Biggest differences are less patient interaction and more meetings.

I have at least half a dozen colleagues who have gone into industry after academic/academ-ish practice. They have been evenly split between people who loved it (or at least liked it more than clinical practice) and never looked back at clinical work, and those who got disillusioned with it and went back to clinical medicine.

I think whether it's good or bad for someone is as much down to the individual and their personality as it is to the work itself. It's a good escape option to have for the right person who doesn't want to continue in clinical practice.