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Science & Democracy... Thoughts?
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Rising Star
It can be, but it comes down to where you are and what industry youre in. A scientist in pharma is going to make a whole lot more than a professor
You have to count the tenure and pensions and other parts of the package that professors make including the collaborations with industry which includes grants and research.
I know assoc profs that make more in those things than salary
I made the switch to industrial agriculture doing plant breeding and flavor analysis. 6 figures was easy to achieve early in my career (with Ph.D.). I work in lab and field and have a good work/life balance. Vacation time is not so easy to come by though. Also, leaving the publish or perish mentality behind has been nice. Can still publish when I want to, but it wont changing anything if I don’t. In industry salary is more negotiable, but it’s up to you to ask for it.
Oh wow seems like you found your niche. Very cool!
Yes, least profitable! Esp life sciences and biology, research associates are paid little. Often times they do the work, yet their names dont appear anywhere in the industry! Very few companies recognize their work! And it is hard to get to a scientist post unless you work long term or have otherwise distinguished yourself! Life sciences need to improve fairness and equity! People who have not seen the work like bioinformaticians use the data biologists work hard to create and exclude their names from papers as well! No money no recognition in life sciences industry! Pay is bad in academia, but if we are lucky we may get some papers.
Well, this should not be a case of “you are working in the wrong places”! It should be a case of “this should be the industry standard”, don’t you think?! Please stop pretending there isn’t a problem with equity and fairness and overall jobs and compensation in this industry! Research associates are not even able to hold a job long enough for adequate promotions! Thats how many ups and downs the industry has!
As a molecular biologist graduating soon with her masters and looking at jobs in industry, the pay variation is infuriating. One job is offering 40,000-60,000, while a similar job is offering 80,000-130,000. They disclose it though and I am often outpricing myself or under selling myself. I would say its a 50/50 split in my experience but they make it impossible to know. (for reference I am in animal health and looking at the animal health corridor)
Oh wow that’s great for a new grad!
As for the Panda express comment - that poster knows nothing about that business. My brother owns 2 and each average Panda Express locations generate an Average Unit Volume (AUV) of approximately $2.5-3 million per year. His 2 location director gets paid into the six figures after profit sharing and is worth every dime. McDonald’s site directors get high $100k to $200k+ with incentives since most clear $4m annual.
That’s why sales rep starting salaries in biotech are just below $200k and with commissions $300k isn’t unusual. They manage usually $5m+ in revenue
?? - exactly - people who think that fast/food store managers shouldn’t make a level of compensation that some folks with advanced science degrees have zero clue about that industry and the $’s involved - it’s not about education it’s about ROI and $ impact
I don’t think major matters on any job if you can perform. Just because you have masters or phd doesn’t mean you are smart and that is the age old discussion is the price of education worth it. Do something you like not for the money or you will be disappointed your whole life
What many people don't understand is that most science PhD programs waive tuition and pay a living stipend to the student-researcher. The age old question of whether education is worth the "price" is an easy answer for STEM. Yes it's worth it. It costs PhD students time and effort, but not money. Plus, no one completes a PhD without a genuine love for the field of study. And they graduate with employment opportunities worth far more than if they'd gone into industry without education or with only a BS.
Yea I believe so and thats why I switched to Regulatory.
Love that! Me too
This is a great question. And it is one that people ought to be finding answers to before choosing their career. In fact, the first semester at college (if not some time earlier, in high school) students should perform a research project and write a report on their chosen profession, its lifestyle, and the anticipated Return On Investment (ROI). Go into your career as one would an investment, so that you are not blindsided and disappointed.
That's what I would tell my 18 year old self.
Other things I would say, invest in continual skill and knowledge improvement, and don't stagnate in the same role for more than 2-3 years. Up or out in 2-3 years. Otherwise, raises lose against inflation (i.e. raises of 5% loses to inflation of >10%).
It depends on your education too. A PhD scientist can easily make 2X what a BS scientist does. I think 6 figures is the norm for PhD starting salary.
I consult for 3 companies that pay 6 figures for PhDs right after postdoc.
There is lots of money to be made in science, I think it’s just a matter of breaking into management roles. Of course academic research has smaller budgets so less money to go around, but in industry it seems like science is not a bad field to work in. Tech will always outshine it but there’s so much volatility. You can make great money for a year and then get laid off
The issue is not everyone wants to be a manager. I know I definitely don’t
No - if they are in industry all except the entry level folks make 6 figures when you include variable compensation too.
You are very passionate about this subject clearly
Depending on your major and the industry you work in six figures is definitely doable. I have a physics degree and worked in the aerospace industr. when I retired I was I. Six figures.
See the thing is who wants to wait till they’re near retirement to make 6 figures…
Get a PhD, and yes, compensation will exceed 100K, at least in industrial positions. It takes us a lot to land a good position and they are very competitive to get, but if you are good, and knowledgeable in an area relevant to industrial needs the compensation is good.
That’s the thing with STEM majors the only answer is more schooling