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highest paying jobs in biotechnology
Highest Paying Salary Jobs in Biotechnology
Biotechnology
Albert Einstein said “Imagination is more important than knowledge” but the fact is what common people can only imagine, biotechnologist with their productive knowledge can make it into reality, be it vaccine development for dreadful virus-like COVID-19 or interacting with life-controlling molecules like DNA, RNA, and proteins.
There is a dominant ideology that pursuing biotech can only open the door for the R&D sector. The truth is careers in biotech ranges from Drug development, biochemist, biophysicist, Medical Scientist, Food processing, biomanufacturing specialists, Environment control, Waste management, Toxicologist and even in beauty care products manufacturing and scientific writing too.
Biotechnology is absolutely linked with health, agricultural sectors, and many more.
If a person is a Graduate in biotech then he/she can be employed as Biochemist, Biophysicist with minimum wage. Post Graduation opens up many job options like QA, QC, etc in the private sector. Below, explore average annual wages and job opportunities for many of today’s leading biotechnology careers.
1. Biomedical Engineer: $91,410
2. Biochemist and Biophysicists: $94,490
3. Biotechnology Research Scientist: $87,418
4. Biomanufacturing Specialists: $83,017
5. Medical Scientist: $88,790
6. Microbiologist: $75,650
7. Process Development Scientists: $94,739
8. Product Management Director: $143,402
- Any student with a proper fellowship like CSIR/UGC NET, DBT, INSPIRE, etc can also get desirable jobs and salaries within a good private as well as government institute.
- Besides teaching there is broad scope in R&D sector with a good salary package and an experience too.
- A doctorate degree i.e. PhD adds further options along with well payment and also a post of Research Associate (RA)
Biotechnology Salaries
This increased need for trained professionals suggests a very positive career outlook for those in the biotechnology field, with most jobs in the sector expected to grow at a rate faster than that of the average industry.
“I think biotechnology is going to be one of the fields that comes out [of the global pandemic] stronger than others,” Auclair says, adding that, in his experience, the average annual salaries for students graduating with their master’s in biotechnology from Northeastern are already rather high.
“I would say that the typical starting salary for one of our students with a master’s is [between] $75 and $85,000 per year,” he says. “I anticipate that we’ll see that go up a bit in coming years, but overall that’s pretty good for a first job.”
Below, explore the average annual salaries and job outlook for many of the top careers in biotechnology today.
1. Biomedical Engineer: $91,410
Biomedical engineers play a key role in the biotechnology field. These professionals employ engineering skills to develop or evaluate equipment and tools for the medical and biology industries. These tools can include anything from artificial organs to machines that can diagnose or help manage a medical problem. Researching and testing are also large components of a biomedical engineer’s work. Professionals in this field can expect to see an average job growth rate of four percent by 2028.
2. Biochemist and Biophysicists: $94,490
These professionals spend most of their time in a research and lab environment, studying the chemical and physical principles of living things to develop processes or products that might improve people’s lives. These professionals’ responsibilities range from observing the effects of different substances on biological processes to developing new drugs to treat specific diseases or ailments. These careers are expected to grow at an average rate of six percent by 2028.
3. Biotechnology Research Scientist: $87,418
Research scientists conduct biotechnology experiments in a lab as a means of producing or proposing products that can help solve common biological problems such as those in the food safety, agriculture, and medical industries. Though the above salary represents average earnings for someone at the mid-level in this field, those with extensive experience or training can make up to $117,000 per year.
4. Biomanufacturing Specialists: $83,017
Biomanufacturers leverage biological systems to create products for the medical, industrial, and food and beverage industries. Vaccines, for instance, are one very common example of a product developed by a biomanufacturer in the medical sector. Those at the top of the biomanufacturing field can make up to $164,500 per year.
Keep In Mind: Biomanufacturing is one sector of the biotechnology field that Auclair expects to grow as a result of the pandemic. “A lot of our drugs are [currently] imported from India and China,” he explains. “Some of these products are going to have to move back to the United States, [and] we’re going to have to make sure that the workforce is skilled to execute on that.”
5. Medical Scientist: $88,790
Though medical scientists conduct experiments and research in a lab, their primary focus is on improving processes and products that will have a direct effect on human health. This might include creating or testing medical tools and devices, conducting studies on chronic diseases, or leading a team of technicians in standardizing methods for manufacturing and distributing drugs or medical devices. The medical science field is expected to grow at a faster-than-average rate of eight percent by 2028.
6. Microbiologist: $75,650
These professionals spend their time researching microorganisms in order to deduce how they interact with certain environments. Professionals at this level not only plan and conduct advanced experiments on their own, but also oversee a team of biological technicians on extended experiments, as well. Microbiologists commonly work as part of interdisciplinary teams on large-scale projects, which can include aspects that relate to medicine, molecular biology, and more. These careers are expected to grow at an average rate of five percent by 2028.
7. Process Development Scientists: $94,739
Process development scientists are in charge of researching and creating the best processes through which to manufacture biotechnology products. They also audit existing processes for efficiency and quality assurance. Though the above salary represents the average for those in this field, top earners can make up to $121,141 per year.
8. Product Management Director: $143,402
These professionals oversee the development process of a product in the biotechnology sector from conception to conclusion. Directors at this level must be familiar with the different biotechnology practices utilized in the development process. They should also be comfortable leading various teams with siloed areas of expertise and helping them work together to create the product at hand. Though the above salary is the median earned for this role, those at the top of this field can make up to $183,000 per year.
Increasing Your Salary Potential with a Master’s Degree
While biotechnology careers pay well, like with any field, there is always room to grow. As Auclair sees it, the most efficient way to advance in the biotechnology field—and, subsequently increase your earning potential—is to pursue a biotechnology master’s degree.
“A master’s degree is sort of a sweet spot,” he says. “An undergraduate degree is great to get you in the door, but you level off really quickly as to how high you can go.” Similarly, he explains, those with PhDs often find themselves limited in their careers, both by the number of positions available for employees at that level and by a competitive job market teeming with master’s degree holders.
“To put it in perspective, I got my PhD and a number of my friends have their master’s degrees,” Auclair says. “In the time it took for me to get my PhD, they were already in jobs I could have gotten if I had just gone into the industry.”
Though he notes that it’s likely easier to land top roles like those in a C-suite with a PhD, Auclair believes that a master’s provides the perfect combination of training and hands-on experience needed to advance quickly and increase your salary in the biotechnology industry.
Best Biotechnology Careers
Here are the best biotechnology careers:
- Biomedical Engineer
- Biochemist
- Medical Scientist
- Clinical Technician
- Microbiologist
- Process Development Scientist
- Biomanufacturing Specialist
- Business Development Manager
- Product Strategist
- Biopharma Sales Representative
- Medical Scientist
- Biotechnological Technician
- Epidemiologist
- Microbiologist
- Medical and Clinical Lab Technologist
- Biomanufacturing Specialist
- Bioproduction Specialist
- R&D Scientist
Biomedical Engineer
The job of a Biomedical Engineer generally includes fusing biological and engineering skills to construct solutions for problems related to medicine and biology. You can pursue a bachelor’s or master’s in Biotechnology or Biomedical Engineering and related field to pursue this career profile. The aim of a Biomedical Engineer is to develop and design better quality biomedical devices, equipment, artificial organs, diagnostic machines, and software for healthcare.
Average Salary of Biomedical Engineer: $64,000 (INR 45,54,000)
Biochemist
A Biochemist studies the chemical attributes of biological processes and living things that include various diseases, heredity, and cell growth or destruction. Such biochemists mostly spend time in the labs because of the complex research. They analyze, isolate, and synthesize fats, proteins, carbohydrates, DNA, and other molecules in order to know the effect of such things to our body. Once they see a positive impact, they build a product for the welfare of society. In order to follow the career path of a Biochemist, you must have a master’s degree in any of the major fields like Chemistry, Biochemistry, Biology, Medical Chemistry, etc.
Average Salary of Biochemist: $87,120 (INR 63,99,400)BSc BiochemistryMSc Biochemistry
Medical Scientist
Medical scientists scratch every corner of the research to improve patients health by investigating different types of disease and their prevention methods. They constantly thrive to analyze and prepare medical samples to know the causes and treatments of chronic diseases, pathogens, and toxicity. In addition to this, they standardize drug dozes, methods, and potency to help in the process of manufacturing & distribution of medicinal compounds and various drugs on a large scale. Pursuing any of the major Medical Science Courses, you can explore this career opportunity across varied sectors.
Average Salary of Medical Scientist: $88,800 (INR 65,21,900)BSc Biomedical Sciences
Clinical Technician
These clinical technicians are also known as biological technicians or medical laboratory scientists. They gather samples, conduct tests, and analyze results of human body bacteria, tissues, fluids, and other so many substances. Highly technical laboratory instruments like specialized computer software, advanced robotics, automated equipment are used by them to analyze, model, and collect experimental information. There are varied diploma and specialised courses available for those wanting to become a Clinical Technician and you can also explore degree programs in Clinical Technology and Medical Technology to pursue this job prospect.
Average Salary of Clinical Technician: $53,120 (INR 39,01,800)Lab Technician Course
Microbiologist
As a Microbiologist, you will need to study the immune system, bacteria, and distinctive viruses to create industrial and biomedical related products. A series of complex researches are conducted to find treatment for various infectious diseases. Completing a BSc Microbiology can make you ideal for this role and you can also further opt for a Master’s in Microbiology to steer towards a career in Microbiological research.
Average Salary of Microbiologist: $81,390 (INR 59,78,400)BSc Microbiology Syllabus
Process Development Scientist
Process Development Scientist tends to supervise the manufacturing process in an organization’s laboratory. They always look for pathways that elevate the efficiency and quality of the product. Once a product has been developed and production begins, these scientists build creative methods to scale up the products keeping in mind the standardized form of the product. The minimum educational qualification required to become a Product Development Scientist is a bachelor’s degree in Biotechnology, Biology, Chemistry or Pharmacy, etc.
Average Salary of Process Development Scientist: $74,272 (INR 54,55,500)
Biomanufacturing Specialists
Such specialists utilize methods and tools to match the quality of the product up to the mark of purity, potency, and safety. Moreover, the process of biomanufacturing also includes the production of a large-scale protein that is used to cure human illness. Along with such scientific skills, they also have knowledge of state, federal, and industry regulatory standards. Majorly, to apply for the profile of a biomanufacturing specialist, you need to be a graduate in Biotechnology, Medical Engineering or Biomedical Engineering.
Average Salary of Biomanufacturing Specialists: $83,017 (INR 60,97,850)
Business Development Manager
A Business Development Manager represents a highly researched market analysis and competitive intelligence to assist biotechnology companies. Their primary aim is to execute and formulate the growth & investment strategies of the companies. They help companies to expand, assess, acquisition, indulge in collaborative research, and tie-up with other biotechnology organizations to gain business growth. If you aim to explore the arena of business and management, you can simply apply for this job position after completing a diploma or bachelors in Biotechnology.
Average Salary of Business Development Manager: $1,25,096 (INR 91,88,676)MBA After BSc
Product Strategist
A Product Strategist is accountable for the creation and enforcement of the commercialization strategy of the biotechnological products. Such product strategists take care of the product launch, development, marketing, logistics, sales, growth, and profitability while keeping a check on regulatory and quality needs. In order to become a product strategist in the biotechnology arena, you can opt for a degree in the same field or related specialisations like Biomedical Engineering, Biomanufacturing, amongst others.
Average Salary of Product Strategist: $1,08,324 (INR 79,56,722)
Biopharma Sales Representative
If you are one of those students who want to know work in the field of Biopharma but not in the core, then signing up for a management job is a perfect option for you. A management career in Biotechnology lets you work in non-scientific jobs like medical representatives or sales executive. Panacea Biotec Limited, Novozymesm Biocon, Dr Reddy’s Laboratories Limited are some of the popular companies in this field. Meeting with doctors, researches, students, technicians and scientists will be a regular activity for you.
Average Salary of Sales in a Biopharma Company: $98,527. (INR 72,37,100)How to Become a Medical Representative?