In both academics and business, there are advantages and disadvantages, and it will be a matter of personal taste in terms of lifestyle. Some people begin their careers in academics and end up in industry, while others choose to leave industry to work in academia.
To begin with, academia is focused on research, but in industry, profit is the primary motivator. Companies frequently hunt for current technology in order to save money on R&D. (driving costs down and profit up). For someone who loves to undertake study and find new technologies, this may become more of a habit over time as a result of utilizing current technology.
Second, the argument for better compensation in industry is a pro, however I feel it must be balanced against other factors such as the fast-paced, deadline-oriented, highly competitive atmosphere in industry vs academics. Although other people may prefer to work in a slower-paced workplace, I love working in the sector due of the sort of atmosphere.
Academia has a high demand in research and discovery. A lot of research is done for the sake of learning, as opposed to clinical application. In contrast, industry work allows researchers to feel a sense of immediate impact on a patient lives. Both workplaces have their own share of pressures and demands as well.
There are advantages and disadvantages to both working in the academia and the industry. Working in the academia gives you a job security with many benefits such as exploring/traveling around the world. There isn't a set time you have to work; it is very time flexible. It also allows the collaboration between different researchers from other departments. You are also able to work on various projects at once which can be an advantage and disadvantage depending on the person's personality. It is very research based, so it's great for someone who likes to explore the unknown. However, it requires a lot of patience. You can stay in lab for days without obtaining the data you want. On the other hand, working in the industry is very business oriented; it is all about money and making profit. It is definitely a higher pay than that of the academia and more fast-paced, which is beneficial if you like learning new skills quick. The person can always move higher up in positions based on his/her merits, but the downside is that there is no job security in the industry. One of the advantages I saw in the industry while I was working is that you can move to different departments and learn new sets of skills if you desire.
We agree that both Academia and Industry have pros and cons; it depends on the person seeking to work in the field to see what is more suitable for their personality. A pro in my point of view, could be a con to another person, for example, time flexibility in academia. While someone might argue that academia can provide a flexible schedule, another can argue that an 8 Am to 5 pm job could be more beneficial than the tremendous amount of work and time input a researcher professor needs to speed in the lab to work on their research.
From my point of view, the altimate pro of academia is getting to travel and meet peers from all over the world and be on top of the discoveries and knowledge in the field.
I prefer industry over academia because even though you get to work on fewer projects and might be more knowledgeable when working in academia, the probability of getting the project to the market is much higher when working in the industry.
Academia and industry are certainly on the opposite ends of the spectrum, which is something I had not thought about before. Working in academia appears to give someone free range and limitless options about their professional life. Industry, on the other hand, requires one to follow a regimented, fast-paced schedule. Unfortunately, most of the world revolves around money. Industry workers are paid more than those in academia, but they are also not guaranteed their positions for years to come. Tenure is something sought after in academia purely because of the job guarantee. Academia allows new findings to be made and provides some with an opportunity to teach the next generation of professionals. This can be fulfilling for someone who wants to create a better world in the long run. Industry is all about the present and how problems can be solved for the greater good of the current people. Personally, I would choose industry because I prefer to have deadlines and complete work in a timely manner.
Even though industry and academia have their own advantages and disadvantages I believe that academia has more advantages than industry. The most important advantage is that you can work on your own project and your boss does not control your work as an engineer who works for any company. You are the person responsible for the work you have done. Another important advantage is that there is no limit to improving yourself in the field you are interested in. You can delve into your studies as much as you want. The most important disadvantage of working in the company is the possibility of being fired at any moment if someone better comes to the company.
Thanks!
The medical device development field has numerous opportunities from the academic arena as well as the industry (Commercial) arena and one of them is better suited for specific personality types. The pros and cons of each are from the perception of the individual making the crucial career decision. My perspective is from my personal experience as a college student and an entry-level employee in the industry.
As an undergraduate college student, I participated in work-study and had the chance to work in several different laboratories, student affairs offices, etc. to see them up-close and personal to understand the details of how things operate. My observation of those professors in academia was of the freedom in which the career affords them to delegate research projects and implement programs to increase funding. The grant writing and getting published was of top priority for the professor as the work was entrusted to the postdocs, graduate, and undergraduate students. So, if you are more interested in pushing paperwork and having leisure time then the affirmative would be taking the route of academia.
However, if you are a hands-on and involved type of personality then the pro would be an industry as you are constantly managing projects and overseeing the development. Also, the time spent working yields higher income in the corporate arena. There are also opportunities to climb the corporate ladder and advance further into different endeavors within the industry. The con is you will most likely work overtime and spend a lot of time away from your family as the demand for quality devices requires such involvement. Depending on the industry you could be on call even when you have a scheduled day off. For example, if your signature is needed and expertise you may have to come in for a meeting, so the leisure time is less.
The pros and cons boil down to what is congruent with an individual personality, goals, and work ethic, and how the individual values time vs the benefit of income. You can at any point change career paths going from academia to industry or vice versa as life, goals, and benefits of career change over time.
If I had to compare academia to industry, I would present the argument that Academia may require less hours, but industry gives you the most money.
Prime example, I’ll use nursing to explain. I know a nurse who made more as a nurse working in the industry, but she now works as a nursing instructor as well as hold a part time job working prn as a nurse. Why?
Why would someone take a pay cut to teach, instead of going for the job that pays the most? In my opinion, those that do, really love what they do and honestly want to pass on their knowledge to help others, or they are older and want a job that require less hours. That’s how it is for the nurse I know. She loves what she does. Teaching nursing students is her passion, although it may not be very lucrative, she still is able to make up the difference in pay with her part time job, and her normal job hours are short as well. So, I would like to argue that academia may be more fulfilling work, than industry, with better work schedules and more autonomy.
For someone in favor of Industry work, be prepared to work long hours and make great pay. I’ve worked industry work before. I’ve done it for years. The work sometimes can be long, but if you’re hourly, and the job allows it, you can make as much overtime as you want. I remember when I first started industry work, I was working 60+ hour weeks because I could. Industry work is less autonomy, but it gives you the experience you need to continue to progress in move up in the industry.
When working in the field of medical device development, there is a clear difference between working in academia versus working in the industry. Which field you prefer is all in the type of person you are and how you want to manage your life. In my experiences, I have only been in the academic field. Academia is highly researched and discovery-focused, while the research that is done is more for the sake of learning instead of for clinical applications. You also have the luxury of more flexibility and time management. Most academic jobs are limited on funding as well in comparison to industry jobs. Not having any experience in Industry I cannot attest to how things go for certain. But it is believed that Industry jobs are more "boring" as some would say because you are doing the same/similar tasks on a day to day basis. As with academia, you are working on different things that you are learning as time goes on. Industry jobs are very well known for being highly paid and lucrative if the research goes well. In the end, it all comes down to the pay, time flexibility, and areas that you are looking to work in.
"Scientists who work in industry are more satisfied and better paid than are colleagues in academia, according to the self-selected group of respondents, which comprised more than 3,200 working scientists, mostly from high-income countries. Two-thirds of respondents (65%) are in academia; 15% work in industry." -Nature.com
As a person grapples with the choice of pursuing a career either in industry or academia, I believe there are certain factors to consider. If a person has an interest or desire to dive deeper into understanding a particular topic, they may consider a career in academia. Considering a career in this field allows a person to work or teach in a higher education setting, participate in grant writing, publishing research findings, and also running a laboratory. Choosing a career in academia can sometimes result in lower income when compared to their industry counterparts. However, there is a higher possibility of job security through tenure.
On the other hand, those who consider a career in industry can also participate in conducting research. Typically industry research will not be tied to an academic institution, but is conducted through large corporation or start up's. Contrary to academia, those whose careers are within industry have the freedom to work towards higher positions within a company.
While both academia and industry have their benefits, ultimately I believe that it comes to what is the best fit for the person. One should consider their working environment, career goals, and how their choice fits with their desired lifestyle.
If I had to compare careers in academia vs. industry, I would argue that careers in the industry require long hours with a high salary. In academia it is very much the opposite most days are on a set schedule and require less hours and interaction with a lower salary. There are many pros and cons when comparing careers in academia vs. industry.
For someone looking into the academia field I would say this has to be your passion and helping students advance to the next level brings joy to you. We all know the kids are our future and to have a successful future we must have someone who is willing to point them in the right direction. I would argue that a career in the academia field would be an extremely rewarding career.
I would argue that a career in the industry can be incredibly stressful with long days, a challenging environment with day-to-day activities changing at a moment’s notice. Careers in the industry usually have an extremely high salary and many opportunities to gain a numerous amount of diverse experience. I have been in the pharmaceutical industry for eight years in three different areas with my current position being in Technical Support for Commercial products. I have gained so much knowledge over the last eight years and even though things can get chaotic at times this is an unbelievably valuable career. I believe both academia and industry can have ups and downs but can be satisfying careers depending on what you make it.
If I had to compare Academia vs. Industry, I would say that about the opposite to each other in most of their aspects. For example there is the obvious pay disparity between those who work in academia, and those who work in industry. Industry workers make far more income, and depending on the company they can have great benefits as well. On the other hand academics get paid off of the grants they apply for, and there is no guarantee that they'll receive them. But because of these grants academics get to do very interesting research for causes that they are interested in. For those in industry, they don't get to necessarily research what they are interested in, but what their company wants. If an individual were to pick between the two, I think they would have to pick between how they would like to work, and their lifestyle choices as well.
If I had to compare careers in academia vs. industry on their merits, the arguments I would present to someone in favor of working in academia include flexibility over your schedule, and flexibility over the type of research you work on. Depending on the nature of your personality, academic researchers typically work alone, in the industry there are usually teams of individuals with specific work goals. I prefer to work alone than on a team, however I do not mind teamwork I just prefer to work alone. If an academic discovery is made, the researcher will receive credit, in the industry this can be more complex.
The arguments I would present to someone in favor of working arguments for industry include that employees in the industry make more on average as compared to employees in academia. According to BioSpace, on average, academics, including postdocs, made $88,693 annually, while commercial scientists made $129,507.
This week is an overall introduction to the field of medical device development. We take some time to pay attention to the differences between Academia and Industry (Commercial) because students in this course may come from one of these two areas and need to understand the other facet in relation to theirs.
If you had to compare careers in academia vs. industry on their merits, what arguments would you present to someone in favor of working in academia? What arguments for industry?
This is a conversation that has been on my mind thoughout my schoolarly endeavors but especially in the past few weeks as I navigate my future after my upcoming graduation. I'm currently at a large biotech company doing a summer fellowship program. As I network among other scientists I always ask them how they got to where they are. Mainly focusing on whether they have a graduate degree and their work in academia or their choice to go directly into the industry after obtaining a bachelor's or master's degree. Because this this company is a major industry company I always know that they eventually ended up in the industry field. So I always make a point to question how and why they made that decision. My response is contributed largely with their experiences and opinions in mind.
The process of obtaining a doctorate degree requires one to specify a particular part of their studies to focus on for several years. They become an expert in that field. If they continue to hold a job in academia they may be in charge of multiple projects, but they are still a subject matter expert and a large amount of their work revolves around that one subject. Thoughout a career in industry one might be able to work in several different positions across several different projects or disicplines.
In industry, you have less control over what projects you do. You are given tasks to work on and troubleshoot. In academia you are hopefully on the cutting edge of knowledge in your field. The goal of those research endeavors is to so discover or create something new. Therefore, working in academia allows you more freedom to choose when routes you can take with your work. This is primarily due to companies in industry constantly needing to make profits versus academia being funded through grants that reviewed based on progress in the innovation.
There seems to be a hierarchy structure in academia where people with doctorate degrees are at the top of the food chain. This does not seem to be the case with industry where bright minds tend to collaborate and flourish together. The process of obtaining a doctorate degree can have a delay in starting a working career. It is for this reson some people find themselves going into indutry earlier in their career in order to start making money quicker to fund their lives outside of their career. For some, that is key to a proper work-life balance.
These are the main points I am considering as I shape my career. I personally feel as though I am leaning more towards industry, but I am trying to keep an open mind about continuing academia to obtain a doctoral degree.
The business world clearly has an advantage over academics in terms of employment offered. Professionals that choose this path may find employment with tiny biotech startups, mid-sized businesses, or even multinational firms with thousands of staff members. Industry job need a more businesslike mindset as well. You must be able to create initiatives that advance the objectives of the organization while assisting with its business plan. Due to the complexity of drug development, there is extensive cross-functional and cross-disciplinary cooperation. In contrast to academia, where researchers can be fiercely competitive, the business world requires that researchers be able to cooperate and function as a team.
