In today’s society, the pharmaceutical sector cannot be overlooked because of its importance, which is why many people are interested in knowing How Many Jobs are Available in Major Pharmaceuticals. Today’s article will list all the available jobs in the pharmaceutical sector, the pros and cons of pushing a career in the pharmaceutical industry, and everything you need to know about a career in a Major pharmacy.
One of the major reasons why the Pharmaceuticals sector is very important in every society is because it deals with health which is also essential to everybody. This department is in charge of creating medicines and carrying out medical research to ensure that all available treatments are up to date with the latest health challenges.
Another reason it is worth pursuing a career in the Pharmaceuticals sector is that it has some of the highest-paying jobs in the world. If you are interested in knowing some of the jobs available in Major Pharmaceuticals, you should consider reading this article carefully until the end.
Before then, let us examine what Pharmaceuticals and Major Pharmaceuticals are.
What Is The Major Pharmaceutical Industry?
The major pharmaceutical industry is just the cooperation of top and high-paying pharmaceutical jobs. This sector is responsible for researching and keeping medicine up to date, producing new medication to help tackle health challenges, etc.
You cannot talk about the health system without mentioning the pharmaceutical industry because they are in charge of employing people in production, sales, research, and development.
Is Major Pharmaceuticals A Good Career Path?
Yes, Pursuing a career in the Major Pharmaceutical sector is a good career path, and the career path is respectable, in demand, and well-paid. It’s doubtful that you’ll struggle to get employment in the field or to locate other options if one doesn’t work for you due to the complexity of the subject.
How Many Jobs Are Available in Major Pharmaceuticals?
There will be an increase in the pharmaceutical sector and salary, but it all depends on the function. For instance, the U.S. Bureau of Labor Statistics (BLS) predicts that positions for medical scientists should grow by 17% during the same period. In contrast, jobs for pharmacists are only expected to increase by 2% through 2031.
According to the BLS, employment in manufacturing pharmaceuticals and medicines is expected to increase by 19% between 2019 and 2029.
Types of Careers in the Pharmaceutical Industry
Below are some of the different types of careers in the Pharmaceutical Industry.
- Sales representative
- Clinical research manager
- Project manager
- Manufacturing manager
- Quality manager
- Lab manager
- Contract manager
- Supply chain director
- Regulatory affairs officer
- Patent attorney
- Financial analyst
- Pharmacoeconomics analyst
Entry-Level Careers in Major Pharmaceuticals
Many pharmaceutical entry-level occupations are junior copies of more experienced ones. Which include:
- Junior sales representative
- Junior account manager
- R&D associate
- Associate chemist
- Lab Assistant
- Pharmacy technician
- Associate scientist
- Supply chain associate
- Junior financial analyst
Top 5 Highest Paying Jobs Available in the Major Pharmaceuticals Sector
Average Salary: $128,000
Pharmacists are the healthcare professionals that sell and provide pharmaceutical drugs to patients. This personnel ensures patients get the right medications and dosages on time without any problems.
Additionally, they assist their patients in understanding the information on drug labels to select the best course of therapy for themselves.
A pharmacist should be consulted before beginning any therapies or using any medications to ensure that all safety precautions are taken.
Average Salary: $102,000
Biophysicists are researchers who focus on the biochemistry of living organisms. These scientists investigate how cells respond to stimuli and how to alter them for the benefit of humans in labs, hospitals, and colleges.
Average Salary: $60,000 to $100,000
Chemists are experts in the invention, manufacture, and purification of chemicals.
They keep an eye on stocks and test items and keep an eye on the calibre of the raw materials.
They frequently collaborate with other chemists and technologists to create new goods utilizing formulations that have already been created or modified by adding or deleting components.
Average Salary: $131,000
When examining how many positions are available in large pharmaceuticals, the area of bioinformatician also comes to mind.
High degrees of biological and computational scientific aptitude are needed for the work, together with a solid grounding in arithmetic and computer science.
Average Salary: $79,000
Radio pharmacists are responsible for assuring the safe and effective application of spectroscopic and imaging techniques in therapeutic and diagnostic procedures. Managing cancer patients who require proton treatment or radiation therapy provided by a proton beam also require speciality, which is essential.
Pros and Cons of the Pharmaceutical Careers Path
Low Barrier to Entry
Many positions in the pharmaceutical industry may not require a PhD, and some may even let you start working immediately. This is especially true if you wish to work in pharmaceutical manufacturing.
High school graduation or GED is the minimum requirement for roughly 47% of pharmaceutical and medicine manufacturing occupations, whereas only a little more than 4% call for no formal education.
Career Advancement Opportunities
People working in this sector always have the opportunity to advance in the career pursued and even relocate to where ever a better job is.
The National Association of Manufacturers notes that just 5% of the approximately 7,000 uncommon diseases have therapies. Because of the increase in daily health challenges, Pharma companies have no choice but to continue in research, study, and production of
In addition to perks like bonuses and stock options, employees who work in the pharmaceutical sector frequently can earn highly sought-after and financially alluring salaries.
Because the prescription drugs they help to develop, prescribe, and promote have the potential to improve and lengthen lives, employees in the pharmaceutical sector can also take comfort in the knowledge that their job benefits others.
Leal, who has spent more than 30 years working in the pharmaceutical sector and aiding in the development of a “cure” for hepatitis C, claims that one of the things that make pharmaceutical employment “extremely fulfilling” is the idea that one is truly helping people in need for a living.
High Educational Requirements
The highest-paying employment in the pharmaceutical industry frequently demands extensive education, even though many jobs don’t.
Due to the knowledge-driven nature of the major pharmaceutical industry and the need for a highly qualified workforce, higher-level positions may call for an undergraduate degree, with some requiring an advanced degree. A bachelor’s degree is “necessary” if you want to work in the pharmaceutical industry.
Cobin emphasizes that because the pharmaceutical industry can be unpredictable and is known for abrupt layoffs, a career in the field may be riskier than in other sectors. For instance, to cut costs by $1 billion in 2022, Novartis, the largest pharmaceutical business in the world, sacked 8,000 employees.
He continues that the sector is so tightly regulated that workers can encounter more challenges than they would in other professions. One of the US’s top ten most regulated industries is the production of medications and medicines.
Rise of Tech
Technology is gradually replacing human effort and the workforce. This is one major problem in this career path because sooner or later, the need for the human workforce might be low.
However, the demand for IT and AI specialists is growing despite the possibility that some of the lower-level positions in the pharmaceutical manufacturing business could soon be automated.
Conservative Corporate Culture
Progress could be sluggish in some pharmaceutical businesses, especially big ones.
Projects take longer to reach the market in this culture, resulting in fewer positive consequences than anticipated.