Not all PhD students continue in academia after graduation. Many PhD graduates are able to excel in the workplace as a result of the skills they learned throughout their PhD.
This post will go through a few of the most popular PhD jobs outside of academia, both in STEM and non-STEM industries. We’ve also provided some advice for those who want to make the change on their own.
What happens to PhD students once they complete their studies?
The Graduate Outcomes Survey for 2018/19 shows that PhD graduates are extremely employable. According to this survey, 15 months after graduation, 70% of UK PhD graduates were working full-time. PhD holders were also more likely to work in occupations requiring a high level of ability. Professionals or associate professionals include managers, directors, and senior officials.
According to a study by the Higher Education Policy Institute (HEPI), 53% of UK PhD graduates who left academia worked in non-research jobs. Meanwhile, around 46% of respondents remained to work in industrial research. Whether you want to engage in research or not, PhD holders who want to leave academia have a lot of possibilities.
The most prevalent employment for PhD grads is tough to list. Career paths are numerous and frequently depend on your field of study.
Graduates in STEM are more likely to put their PhD to use in a different way than graduates in the arts and humanities. Regardless of the field, evidence suggests that PhD graduates who do not pursue a career in academia are more likely to succeed in the industry.
PhDs in STEM fields can work in non-academic settings
A PhD in a STEM field can be applied in a variety of non-academic settings, ranging from industrial research to the public sector. Intellectual property, regulatory issues, big data, pharmaceuticals, and consulting are all possibilities for STEM PhD holders in the industry.
Career after PhD
PhD is sometimes misunderstood as a training programme for becoming a university professor. True to some extent, yet a PhD’s purview extends beyond academia. In comparison to the number of PhD candidates, the proportion of PhDs joining academia is not very high. The employment situation in India and other foreign countries is rapidly changing, forcing PhD candidates to rethink their plans to enter academia. PhD graduates are now looking for alternate careers in fields such as writing, research, investment banking, law, and many more.
Why leave academia?
There are a variety of compelling reasons why you might not want to stay in academia after your PhD. According to the Higher Education Policy Institute (HEPI), three and a half years after obtaining their PhD, just over 70% of PhD holders are no longer working in academia. If you decide that this is the right path for you, you will not be in the minority.
It’s very acceptable to decide that academia isn’t for you. Working in this field can be extremely competitive, with fierce rivalry for money and opportunities. Short-term contracts can sometimes put people in a bind in terms of financial security.
Possibilities for employment after completing a PhD
To begin, you must realise that the worth of a PhD degree is determined by knowledge and skills. To succeed in your chosen profession, you must possess both of these qualities. Let’s look at some of the professional choices available after completing a PhD:
In general, university professors, industrial R&D lab workers, and start-up mentors are the most sought-after employment after a PhD. Industrial Research and Development organisations have dedicated PhD groups that participate in research, product design, and strategic meetings. The average pay at industry R&D labs is significantly higher than those in development centres.
This clearly indicates that a 5-year-experienced engineering graduate will earn less than a new PhD graduate who has recently joined a corporate R&D facility.
When compared to exclusive R&D laboratories, development centres sometimes hire PhD graduates for numerous roles with wages that are almost identical or even higher. PhD grads joining a research lab or development centre always have a higher wage structure and designation than other graduates with extensive expertise.
There’s always a way to connect your academic background to the business world. This is something you should be prepared to do in any prospective job interview.
It’s also a good idea to get away from the extensive, multi-page academic CV you’re probably used to. Employers are unlikely to read them. They won’t be interested in sifting through a long list of articles, either. Instead, you should state that you’ve had a number of publications without going into depth about each one.
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