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Looking for direction

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BSc Cell Biology, Glasgow University, 1994-1998. MSc Marketing, Strathclyde University, 1998-1999. PhD ... Covered Glasgow (including the salubrious parts) ... – PowerPoint PPT presentation

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Title: Looking for direction


1
Looking for direction? Edinburgh University
Alternative Careers Seminar Alasdair Milton, Wood
Mackenzie 9th November 2006
2
Background
  • BSc Cell Biology, Glasgow University, 1994-1998
  • MSc Marketing, Strathclyde University, 1998-1999
  • PhD Cancer Research, Glasgow University,
    1999-2003
  • Post-doctorate, Glasgow University, 2003-2005
  • Medical Representative, Wyeth Pharmaceuticals,
    2005
  • Analyst, Wood Mackenzie, 2005 -

3
Why an MSc in Marketing what did this give me?
  • Decided that I wanted to eventually do a PhD
  • But was afraid of pigeon-holing myself
  • Knew I wanted a career that mixed business and
    science
  • Decided to gain that business knowledge through
    an MSc
  • Enhanced my presentation skills/writing skills
  • Enhanced my people skills
  • Learnt how to work as part of a team for the
    first time

4
PhD Cancer Research
  • In this day and age, everyone seems to have a
    degree
  • You have to set yourself apart from the other job
    seekers
  • Learnt what hard work was, and what little thanks
    you get for it
  • But, this is for you
  • Made me focused, determined, and driven
  • Would I do it again
  • Absolutely a PhD can make, or break you

5
First mistake stayed on as a post-doc!!
  • Married in 2003, so felt I had had enough
    upheaval!!
  • Chance to join Wood Mackenzie in mid-2003 as
    Pharmaceutical research analyst
  • Ideal job mix of business and science
  • But, turned down not enough experience of the
    Pharma. industry
  • Really disappointed to miss out
  • Was offered the chance to stay on and publish my
    PhD work
  • Too tempting
  • Unfortunately, I took the easy option like a
    lot of other people I worked with!!
  • But, with hindsight, I should have left
  • Knew that I didnt want a career at the bench
  • 6 months turned into 2 years!!

6
What now?
  • Spent most of 2004 looking at entry points for
    the Pharma. industry
  • Sales rep. is about the only way in on the
    business side
  • Also looked at lab-based sales
  • But, no experience no job!!
  • Eventually, my hand was forced
  • Lab relocated to Oxford in March 2005
  • Had no option but to leave

7
Life as a sales rep
  • Joined Wyeth as junior sales rep in March 2005
  • Covered Glasgow (including the salubrious
    parts)!!
  • Tough job, but an excellent starting point for
    someone interested in the industry
  • If any job can mould you into a success this is
    it!
  • Many senior executives in the industry have cut
    their teeth as reps
  • But, not for the faint hearted
  • The days of the GPs-junkets have gone!
  • You have to be prepared for doors to be slammed
    in your face

8
Second bite of the cherry with Wood Mackenzie
  • Chance of Wood Mackenzie job arose again in June
    2005
  • This time, even with limited experience, I was
    determined not to miss out
  • Learnt about the company - inside out
  • Knew the recruitment process, so had an advantage
  • Got the job and started in August 2005

9
What do Wood Mackenzie do?
  • Global suppliers of consulting and research
    expertise to the energy and life sciences sectors
  • In life sciences
  • Our clients include the worlds leading
    pharmaceutical and biotechnology companies, as
    well as leading financial services companies
  • The company operates an integrated business model
  • We offer unique, independent and authoritative
    insights through integrated research and
    consulting services
  • This is what gives Wood Mackenzie its unique
    selling point
  • Most consultancy firms buy in second hand
    research in order to allow them to complete a
    project

10
What does research at Wood Mackenzie entail?
  • Our proprietary suite of research products help
    clients address key business issues.
  • These analytical tools offer clients a clearer
    understanding of competitors strategies,
    drug-sales trends and issues in the various
    geographic and therapeutic markets
  • Pharma/Biotech Reviews
  • Structured overviews including key products / RD
    candidates etc
  • ProductView
  • Sales forecasting tool for Top 45 Pharma/Biotech.
    companies
  • Corporate Franchise Analysis
  • Franchise development of Top 20 Pharma/Biotech.
    companies
  • Horizons / In Our View
  • Thought leadership publications covering key
    industry issues
  • We also provide ad hoc analysis for leading media
    sources including the FT, NY Times etc

11
The Pros and Cons
  • Pros
  • Mix of business and science ideal job!!
  • Working in a motivated, challenging and
    stimulating environment
  • Chance to become a specialist within your chosen
    field, building a reputation amongst your peers
  • Chance to travel abroad
  • Wood Mackenzie is growing and evolving at an
    exciting pace
  • Chance to influence company performance is much
    greater than if with a bigger company
  • Cons
  • Long hours
  • Remuneration not comparable to financial analysts

12
What about alternative careers?
  • Financial analyst
  • The Good
  • Influencing share price of the companies you
    cover
  • Right at the heart of what makes these companies
    tick
  • Weve all heard what a City bonus can be like!!!
  • Form excellent contacts
  • The Bad
  • Demanding, high pressured job
  • London move is essential
  • Potential conflicts of interest
  • Small fish in a big pond!!
  • The Ugly
  • Get ready for the 5am starts!!

13
Other alternatives
  • Other types of finance
  • Investment banking
  • Always on the look-out for highly analytical
    students
  • Tough to get in
  • The rewards are obvious
  • But if you think working as an analyst is
    high-pressured!!!
  • Editor for scientific magazines/papers
  • Retains the mix of business and science
  • Probably a move to London again
  • The chance to influence what gets published
    within the scientific community

14
Overview / Tips
  • Dont stick around after your PhD like I did
  • Strongly advise you to get your CV updated
    professionally, and to use selected recruitment
    agencies to help you source opportunities
  • Try, try again (like I did at Wood Mackenzie)
    this was part of the reason I got the job second
    time around!!
  • Dont think you dont have transferable skills
    there is a real shortage of talented,
    analytically thinking people in the business
    world
  • Transferable skills
  • Time management / working to a deadline
  • Perseverance / resilience
  • Ability to show initiative
  • Data gathering / sorting skills
  • Independent thinking
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