Career Advice for Surviving the 2024 Biotech Job Market BioBuzz has been building life science communities for 14 years because we believe in the power of personal networks to unlock your career potential. For our next chapter, we’re building upon the success of our community to help solve today’s greatest challenges in hiring and career development. There is a better, more equitable way to connect talent with opportunity… and we’re building it. I knew that 2022 and 2023 were bad years for Biotech and Pharma. However, it wasn’t until I spoke to a friend late last year, saw a Linked In post from a friend and former boss who has decided to consult full time, and then read this article in Fierce that the breadth of the issue really sunk in. Things are really tough out there. I’ve survived through several downturns in my career, and I always try to look for opportunities to move into growth areas in the field. Here are a couple of lessons I have learned may help people who are looking for the next opportunity and trying to find their way through this downturn. Start with the data. Start with the data.
Make a list of the skills, accomplishments, new things learned etc., for the last 5 to 10 years. I recently helped a younger colleague review their last several years, they were surprised how much they had accomplished and learned. Afterwards I realized that I had not done this self-review in depth since 2007, the year I joined LinkedIn, and performed my own self review. I compared that list to my resume and LinkedIn profile and was shocked at how out of date they were. Which leads to lesson two. Keep your public profile up to date. Keep your public profile up to date.
This sounds like common sense. However, despite all of the news about social media not everyone uses it to advantage, failure to update my Linked In properly being a case in point. In science it is vital to be constant in updating your public profile because reputation is key. In the past it was all Experimental Biology, AICHe, and TIDES; but now, new groups for Gene and Cell Therapy or RNAi or mRNA are constantly popping up. Network Network
This means going beyond just social media networking or industry groups. Biotech industries form around hubs, and these localities want to support Biotechnology so they frequently have groups associated with local governments to support and provide forums for these growth industries. Maryland has BioBuzz , the Boston and Bay areas have their own. I don’t attend BioBuzz as often as I used to, but I have friends and associates that go back 20+ years that I still run into when I do attend. Half of my new opportunities over the last 30 years came through personal or professional connections. Which leads to my final comment. Move into “new” areas and join new groups. Move into “new” areas and join new groups.
In my prior job I only presented at three or four industry meetings over a 13-year period. I always had a reason not to present or attend the meetings; I am already traveling a lot, I don’t need to go to these meetings anymore, etc. In 2021 I made a move to a related area, large molecule to siRNAs and started attending meetings again, five (5) in the last year alone. In doing so I have renewed old contacts, made new ones, and reignited the fun of learning new things. All this seems simple, obvious, the reality is that it is work and like all work needs constant attention. If current forecasting is correct and Biotechnology and Pharmaceuticals are getting ready for a comeback then this is the time to begin preparing for that next opportunity, either in your current company or in a new one. About the Author Latest Posts BioBuzz is a community led, experience focused, biotech and life sciences media and events company. BioBuzz highlights regional breaking news, industry professionals, jobs, events, and resources for business and career growth. Their weekly newsletter is subscribed to by thousands in the BioHealth Capital Region and Greater Philadelphia as the go-to for industry updates.
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