AsianScientist (May 1, 2011) – Some people pursue a PhD because they want to be an academic. But some don’t. Instead, they apply to graduate school because they aren’t sure what to do next, and want to postpone that inevitability.
So what happens if you have spent your entire PhD in pursuit of a scientific aim, but want to do a 180° and morph into an alternative career?
Instead of the tried and tested route of entering academia, Asian Scientist Magazine suggests seven alternative careers after your PhD.
1. Consultant
The basic purpose of a consultancy firm is to analyze data from a client company and give an educated opinion on a question important to that company. Obviously, this can describe a great number of areas, but the central thing a PhD graduate has going for him or her is the demonstrated ability to analyze and present data in a coherent way. These are exactly the skills that a consultancy firm needs regardless of your area of expertise.
2. Non-tenure track position
For example, working in an intellectual property office, a development office, a technician that takes care of highly technical equipment or a non-tenure track research scientist. These jobs can be rewarding, avoid the requirements of being a junior faculty, and still allow you to be in academic circles.
3. Join a start-up
Working in a young start-up company, whether it is based on your personal research or not can be a thrilling experience that is either financially rewarding or disastrous. Typically, starting salaries are low, but much of the reward is in stock options which may or may be worth a lot or nothing depending on the success of the company. Either way, if you play a senior role and do a good job, you will have start-up experience and be in a good position to find the next hot idea.
4. Financial industry
Working for an investment firm or a hedge fund is very different than a PhD. Whereas a PhD student has freedom over his or her project and science, in the tight-ship world of finance these freedoms are gone in a flash. Expect long hours, a lot of stress and people demanding deadlines on a daily basis. Oh yeah, they pay better.
5. Venture capital
Venture capital companies manage large investment funds by purchasing portions of young and promising companies. As the company grows, so does the investment and typically within 5 years, the investment is sold and the profit returned to the investors. If you have a strong mathematical and statistical background, and enjoy the chase, this may be an enjoyable option for you. In reality, the number of open positions within venture firms is and will be small and the starting salaries are relatively low compared to other financial positions.
6. Patent law
Using your scientific background to work as a patent specialist in a law office can be a good use of your talents. One option is to be employed in the firm without a law degree, helping the patent attorneys. If you retrain as an attorney, you can expect long hours in the law library for your degree. Also, the first years in a law firm are tough, but with time, this can be an interesting and rewarding career.
7. Something completely different
Always feel free to completely reconsider what it is you want to do with your life. The end of a PhD is a transition point, you’ve made your contribution to science and now it’s time to start your life. Take a weekend and think about careers you might have never considered. Creative writing, politics, fashion, dog grooming, follow what you love and you will do great.
… Finally, if you are one of those who have alternative careers in mind, perhaps it would be better to explore and document your interest in that alternative career way before you graduate, whether through student groups, a brief internship or another creative way to start integrating yourself into the external workforce.
This will give you credibility when the time comes and also help you make a more confident decision for your non-academic career. Good luck!
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Copyright: Asian Scientist Magazine.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.
