There are many professions available today. And some might surprise you because they need interdisciplinary expertise, such as being a life science advisor. Pharmaceutical, manufacturing industry, medical and food-and-beverage companies need lifesci advising. Even companies that do not directly deal with human consumption still need to consider the environmental impact of their waste. Eco-friendliness is vital in today’s business. Once the press knows that a company has abused its environment in the production process, product boycotts will be inevitable.
A brief picture of life science industry
Life science industry is any kinds of business that revolve around biotechnology, pharmaceuticals, biomedical technologies, nutraceuticals, cosmeceuticals, food processing, and others of which the commercialization efforts have a direct impact on human’s life. This industry handles the primary aspects of life, which makes it very profitable and prone to corruption at the same time. From lifesciencenetwork.com, the life science industry had revenue of $1.7 trillion in 2015. And the profit has been increasing ever since due to the medical technology that has been developing rapidly.
A food and beverage company’s biochemistry advisor can earn anywhere from $62,000 to $90,000 per year. And if working for an oil and gas corporation, the number might increase to $102,000. But it does not mean the being a life science advisor is easy.
What a life science advisor does
A life science advisor should integrate the knowledge of business and marketing with applied science. The profession should excel at communicating science data to nonexperts because what the marketing department needs is a sales prediction and such, not a raw scientific graph on ingredient efficiency. A life science advisor plays the major role in directing the Research and Development Department. Without their expertise, a proper quality control and product innovation will be difficult.
Updating information is also vital for a life science advisor. If left behind, the whole company’s projects might be at stake, which will not be appealing to investors. In the long run, this problem can result in a severe consequence, especially for pharmaceutical companies. Normally, such companies need at least 15 years of research before releasing the products to the public. And they have to calculate every possible risks and outcome during those years. This situation explains why a life science advisor must be very sharp and detailed when predicting the future.
The drawbacks of being a life science advisor
Lifesci advising is fifty percent a gamble. Once you miss it, you are putting big money at stake, and no companies like losing money. The possibility of you to be replaced is always there. And unless the projects are done, the work environment will be very much stressful. Being a life science advisor is tough.
However, you can lighten the burden by choosing to work with an independent life science consulting firm. They provide an outsource force for the purpose. And although the salary will be much less than if you work as an in-house consultant, you can have more time for your life.