Business of Science

What is the Business of Science?

 "Every pill has a story. Before it got to a medicine cabinet, that pill had to pass the scrutiny of scientists toiling in labs. It had to win confidence in business meetings and prove itself safe to government regulators. Along the way, that pill could cost $1 billion or more in investment, and go on to generate billions in profit. That path, in more technical terms, is called life science commercialization, and it drives major sectors of the U.S. economy." according to a Biology Professor and Management Professor who teamed up to develop a business of science course at Wheaton College

Gain a big picture view about how this business fits into the larger economy in this article on Business Backs the Basics by Suresh and Bradway at Sciencemag.org
 

What are opportunities in the business of science?

According to the NIH, "Business development is a combination of strategic analysis, marketing, and sales. Business development professionals can be involved in everything from the development of their employers' products and services, to the creation of marketing strategies, to the generation of sales leads, to negotiating and closing deals" 


Learn more about opportunities in this career path


What are some fields related to the business of science?

  • Business Development
  • Operations
  • Quality Control
  • Venture Capital & Banking
  • Project Management
  • Recruiting
  • Corporate Communications
  • Product Support-Medical Science Liaison
  • Sales
  • Marketing
  • Medical Affairs
  • See details and an overview of types of jobs within business of science, from the NIH.


Is the business field a good fit for you?

MyIDP Results Page

Good question! Find out by completing the AAAS's My Individual Development Plan Assessment Tool, which OCPD co-created. Answer three assessments and it will calculate and compare your skills/interests/values responses to key factors for 60 different career paths within 20 different career categories that are options for you as a scientist (including consulting!). Click on the image to the left to see a sample report.



Develop skills 

Find your community

 

Ready to start your job search?

Take a look at some sample job descriptions.

 

Internship opportunity examples.

**these are meant to serve only as examples. Actual job listing may be closed.

 

Want more help? Talk to a career counselor

Schedule a 1:1 counseling appointment for PhDs