Yes, major pharmaceuticals is an excellent career path. Careers in pharmaceuticals are in demand, well paid, and respected.
According to the BLS, the average annual pay in pharmaceutical and medicine manufacturing stood at $74,560 in 2021. That’s well above the average $58,260 yearly pay for all occupations in the U.S.
The outlook for pharmaceutical careers is outstanding. Revenue in the U.S. pharmaceutical market is on the rise, with a projected jump from an estimated $589 billion in 2022 to $765.9 billion by 2027.
As revenue in the pharmaceutical industry goes up, so, too, should hiring — but it all depends on the specific role.
The pharmaceutical sector provides numerous job prospects in sales and marketing, production, science, and research and development. Here some of the most typical key pharmaceutical roles:
– Pharmacist – Chemist – Scientist – Sales representative – Clinical research manager – Manufacturing manager – Project manager
– Lab manager – Quality manager – Contract manager – Supply chain director – Regulatory affairs officer – Patent attorney – Financial analyst
Low Barrier to Entry Not every job in the pharma sector demands a Ph.D., and some enable you to start working without a college degree.
Career Advancement Opportunities Talented individuals identified as having potential for advancement can rise quickly, especially if they can relocate.
Rewarding Work In many cases, people employed in the pharmaceutical industry can earn a highly desirable and extremely financially rewarding salary, coupled with benefits such as bonuses and stock options.
High Educational Requirements The highest-paying jobs in the pharmaceutical industry frequently require advanced education, even though many of the jobs there don't.
Rise of Tech Some professions in the pharmaceutical manufacturing sector may become obsolete due to the growing usage of technology like artificial intelligence (AI).
Stress The industry can be unstable, marked by sudden layoffs — making a pharmaceutical career path potentially riskier than other industries.