One of the most popular career paths that a student can choose to pursue, and also one of the most challenging and difficult on many levels, is becoming a professional in Biotechnology. Biotechnology is very much in demand, not only in the United States but also in other parts of the world. However, it is important to understand that Biotechnology is one of those professions which can be very much rewarding but at the same time it could be a profession which can be very frustrating and largely underpaid as well.
If you want to earn a lot of money in biotechnology, the U.S. is your best bet. The average salary for most graduates with a bachelor’s degree in biotechnology starts around $60,000 per year. At the master’s level, the average salary climbs to roughly $80,000 annually. These numbers are based on data compiled by the National Association of Colleges and Employers. Statistics also show that starting salaries at this level can vary greatly depending on the organization employing them and which city they live in and work within. An industry leader in their field might pay more than a small startup company in a struggling market. For example, biotechnology graduates from Yale University make an average of $70,634 in their first job out of college to those from University of Georgia-Athens who make on average just $46,450. Even within state lines, there can be great discrepancies. Texas and New York are home to some of the top paying cities in which to earn a biotechnology degree: Austin ranks as the number one city for biotech professionals with an average yearly salary of $64,288 and San Jose tops New York City with an average annual salary of $63,847.
Biotechnology salary in usa
In the U.S., the average annual starting salary for biotechnology jobs was $48,000 in 2017. It’s only slightly above average when compared to other positions and fields.
Biotechnology—also known as bioengineering, biomedicine and bioscience—comprises the application of living things and organisms to engineering, technology and medicine. Biotechnology has now become an integral part of medical research, development and drug production. In fact, three-quarters of all new drugs approved by the FDA are now based on biological molecules or compounds that were engineered in a lab. Ninety-six percent of U.S. biotech companies were founded over the last two decades – meaning that there’s never been a better time to be in biotech than now!
The mission of the Office of Biotechnology is to provide education, information, and guidance to industry representatives, Federal agency policy makers, Congress, the media and the public concerning current issues in biotechnology. The Office serves as a central point of contact for information on Federal programs relating to biotechnology and coordinates interagency activities related to this field.
Biotechnology industry’s history begins in the early part of last century. In 1928, Canadian Dr. Frederick Banting and Charles Best isolated insulin, one of the hallmarks of biotechnology industry, from dog pancreas cells. Shortly after this event, American Eli Lilly and Company began insulin production on commercial scale using biochemicals and cell-cultures technology that was pioneered by Banting. Today, many other biotechnology products are waiting for the commercial production and distribution such as vaccines for AIDS, Genetically Modified Organisms (GMOs), interferon, monoclonal antibodies to treat cancer and hepatitis C virus. Genetic engineering today is at the pinnacle of scientific achievements where it is used to develop numerous applications including produce genetically modified food crops, create new vaccines and medicines from micro-organisms and animals, create insect-resistant plants etc.
Biotechnology science and engineering jobs are projected to grow by 15 percent through 2018, and many scientists have noted that a career in biotechnology may be the most lucrative than any other science career for recent graduates. Due to the broad nature of biotechnology, opportunities exist for individuals interested in biology, chemistry, business and pharmaceuticals. The field is still new enough that specialization is possible within a chosen field and employment opportunities abound.
You’ll find the common skills that are needed throughout the Biotechnology field. This list of skills is not comprehensive but will definitely point you in the right direction.
It is a good time to go into this field, but it is a competitive area that should be approached with caution. Biotechnology has created many new and interesting opportunities for individuals interested in pursuing scientific research, especially with the variety of career paths that are now available. Nowadays one can find graduate programs for anyone looking to enter this field.
Check with the biotech and pharmaceutical companies if they are willing to hire bachelor candidates to work on their research studies. Compare the position of a Research Associate with the salary range of $1,821.00 to $2,381.00 per month offered by various companies like Bristol-Myers Squibb, AstraZeneca, GlaxoSmithKline, Pfizer Inc., etc.
An increase in pace of technological innovation and discovery has revolutionized the biotech sector and changed the face of healthcare. The possibilities for regenerative and life-extending medical procedures are staggering, but the promise of these breakthrough technologies can only be realized if doctors and technicians are properly trained in the use of these treatments. Bioscience jobs like a biomedical engineer, molecular biologist, and geneticist are expected to continue growing at a steady rate. These jobs require a great deal of training, both in an academic setting and on the job.
The demand for these professionals is rising, driven by the commercialization of biotech products, at the same time as the older generation of technicians leaves. However, the quantity and quality of trained professionals prevents a total take-off in this sector. Therefore, the future remains to be written.
