Working in Industry as doctor

[BeastfromthEast]

I've seen a lot of threads discussing academic medicine and private practice. But I'm having a hard time finding threads about going into industry as a doctor. What is it like working for pharmaceutical companies as a doctor? What roles do they play? What are the benefits and downsides? I'm curious because I can't find threads on the life of a doctor working in industry. Thanks!

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[Classof2013PreM]

I've seen a lot of threads discussing academic medicine and private practice. But I'm having a hard time finding threads about going into industry as a doctor. What is it like working for pharmaceutical companies as a doctor? What roles do they play? What are the benefits and downsides? I'm curious because I can't find threads on the life of a doctor working in industry. Thanks!

I actually interned at Merck this past summer, and I had the chance to talk to an M.D. that had a role in organizing clinical trials for different drugs. She had previously been a professor at Columbia medical school, and she mentioned that one of the main perks of working in the industry was the lighter working schedule. In addition, she liked the structure and stability of the industry job, but she mentioned that she missed working directly with patients.

The pay is probably great (I didn't ask about that), but she did say that almost all the M.D.s that Merck hires have extensive (10+ years) experience as a practicing physician before joining the industry.

I hope this helps!

 

[LizzyM]

Based on my interaction with MDs in industry, you can expect many nights away from home as you travel for investigator meetings. The locations are sweet but it is still time away from your family and the wear and tear that travel takes on a body.

When you aren't traveling, you are responding to inquiries by phone and email. For example, the study inclusion criteria state that a certain lab value must be <32. This potential subject has a 33 but does not have x, y and z. Can an exception be made to enroll this subject? An adverse event has been reported from another site. Is it related to the study drug? Does it require immediate communication with FDA or not? Is a pattern starting to emerge? Should a world-wide warning be issued to subjects in this study?


That's the sort of thing a clinician working in Big Pharma is going to do.

 

[Xiao]

Thanks for sharing. What about insights into physicians working in other industries, such as consulting? Finance? Taking life sciences products to market (entrepreneurship)?

I know an acquintance that worked for Leerink Swann out of medical school and later moved into consulting as a partner at a boutque firm. But I have no idea about the pay and job responsiblities were.

Interesting thread. Discuss more.

 

[LizzyM]

Thanks for sharing. What about insights into physicians working in other industries, such as consulting? Finance? Taking life sciences products to market (entrepreneurship)?

I know an acquintance that worked for Leerink Swann out of medical school and later moved into consulting as a partner at a boutque firm. But I have no idea about the pay and job responsiblities were.

Interesting thread. Discuss more.

One of our recent grads (MD) went into consulting. Good pay right out of the gate with the same hours as residency. Great if you don't ever want to get your hands dirty, don't ever want to talk to a patient, and like to wear suits and dress shoes every day.

Why are you going to medical school?

 

[Xiao]

One of our recent grads (MD) went into consulting. Good pay right out of the gate with the same hours as residency. Great if you don't ever want to get your hands dirty, don't ever want to talk to a patient, and like to wear suits and dress shoes every day.

Why are you going to medical school?

Haha. I guess in both fields, there is prestige, good pay, and meaningful work. Those reasons alone may be attractive enough for some people. From what I gather, fresh MD's get hired into the same positions as MBA's, with a ~100k starting salary (although I have no idea what work responsibilities are and how pay scales as career progresses). In terms of career progression, does a medical education bring any advantages over a business background?

What about backup options if an MD doesn't really make it in consulting (i.e. fail to get promotions, never makes partner), and when he turns 30, realizes that he wants to spend more time with his family without travelling 4-5 days a week. Will MD graduates get the chance to move back to patient care? Will any residency programs take them at that point?

 

[thomallama]

Thanks for sharing. What about insights into physicians working in other industries, such as consulting? Finance? Taking life sciences products to market (entrepreneurship)?

I know an acquintance that worked for Leerink Swann out of medical school and later moved into consulting as a partner at a boutque firm. But I have no idea about the pay and job responsiblities were.

Interesting thread. Discuss more.

Here's an old thread I found with some good information.

http://forums.studentdoctor.net/showthread.php?t=47772