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My company matches 3%. Is that low or on par?
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I’ve done both. I’d recommend starting in big pharma/biotech to get it on your resume. You’ll get some marketable skills that will help down the line. I later on went to a smaller biotech and love it way more. More freedom and bigger set of responsibilities; just feels more impactful. Also, the money is way better. Biotech has to overpay for big pharma talent. If things work out with clinical trials, the RSUs can be a life changer. Conversely they can also end up almost worthless. Can’t ignore the risks
Large pharma/biotech: strong pipeline, job security, benefits, brand recognition boosted resume when applying to other places; limited career opportunities, bogged down by processes, not flexible or open to change
Small biotech/startup: more prone to layoffs depending on how pipeline performs; more career opportunities and less internal competition for roles, more open to change and feedback; power to make a significant impact
PM- I take an inverse approach to traditional investing advice (young/risk, old/conservative).
Professionally, be conservative early on. Get with a company that has security, stability, and brand recognition. After you’ve established yourself, 5+ yrs, you can start to become more risk-tolerant, taking on more challenging roles at less established companies.
I’ve done both and I love small biotech. I would never work for big pharma again. That being said, it really depends on what an individual likes. I like doing a bunch of things and making a big impact, and I like the level of innovation and risk in small companies
Do you find you work more in small biotech? Does WLB exist?
If you value WLB, large pharma is your best bet. AD1 described the pros/cons really well. I used to work at a small, venture capital company and hated the high stress and workload. I got my experience and got out.
I agree with what everyone said. Personally, I've done both and am more biased towards the small. Would advise someone who is starting to go with small pharma/biotech as you get to learn a lot more and take on more roles rather than being siloed to a single task. You also get the opportunity to transition across different departments much easier should you tire of your current role. An additional benefit to small is that networking with different departments is easier and you can build your circle much faster. There's also less bureaucracy.
But like AD1 said, it has it's risks...less stable