A PhD's Roadmap to Industry Career Paths

I've had the pleasure throughout my career of seeing PhDs flourish in industry careers. Their PhD programs equipped them with many valuable skills that were a huge value in the business world. But understanding where and how those skills fit was critical to establishing a foundation for their success.

Here's a quick guide to understanding some common roles in business and how PhD skills provide value to those roles.

SALES & MARKETING

Sales and marketing roles are all about understanding people and what they need. Their goal is to tell a story about a product or service that makes it relevant for a customer and encourages them to buy. 

Example Career Paths:

Sales Representative, Marketing Analyst

What's Required for These Roles:

Skills & Aptitudes: Strong communication, persuasive abilities, and an understanding of human behavior. Ability to analyze market trends and adapt strategies accordingly.

Individual Disposition: Outgoing, personable, and enthusiastic. Comfortable with uncertainty and rejection, often seeing them as challenges rather than setbacks.

Personal Motivators: Driven by the thrill of closing a deal, building relationships, and the satisfaction of meeting and exceeding targets. Enjoys being at the forefront of market trends and customer engagement.

How PhDs Add Value for These Roles:

•  Research Skills: PhDs are adept at conducting thorough research. This skill is valuable in understanding market trends, consumer behavior, and competitive landscapes.
• Analytical Thinking: The ability to analyze complex data can help in making informed marketing decisions and understanding customer demographics and preferences.
• Presentation Skills: Years of presenting research can be advantageous in sales pitches, marketing presentations, and crafting compelling narratives around products or services.

PRODUCT DEVELOPMENT / R&D

These functions are about creating new products or enhancing existing ones, often through groundbreaking research or innovative approaches to fulfilling customer needs.

Example Career Paths:

Product Manager, Product Developer, R&D Scientist, Project Manager

What's Required for These Roles:

Skills & Aptitudes: Creativity in problem-solving, technical expertise (specific to the product or industry), and a thorough, methodical approach to research and development.

Individual Disposition: Curious, innovative, and patient, with a keen attention to detail. Persistent in the face of complex challenges and comfortable with a certain degree of ambiguity in projects.

Personal Motivators: Passionate about creating new products or improving existing ones. Finds fulfillment in seeing their innovations come to life and being used by consumers or businesses.

How PhDs Add Value for These Roles:

• Innovation and Creativity: PhDs often work on the cutting edge of their fields, which fosters an innovative mindset – crucial for product development and R&D roles.
• Technical Expertise: The deep subject matter expertise gained during a PhD program is invaluable in developing new products or improving existing technologies.
• Problem-Solving Skills: PhD work involves tackling complex problems, a skill that is directly transferable to developing solutions in a product development context.

TECHNOLOGY / IT

The focus of technology teams is digital innovation that can be applied either internally as enablers for the business or to products and solutions that support client needs.

Example Career Paths:

Software Developer, IT Project Manager, Data Scientist

What's Required for These Roles:

Skills & Aptitudes: Proficient in technical skills relevant to the field (e.g., programming, data analysis). Strong analytical thinking and a propensity for continuous learning to keep up with evolving technologies.

Individual Disposition: Analytical, detail-oriented, and often introspective. Enjoys working in a structured environment but can adapt to rapid changes in technology.

Personal Motivators: Driven by a fascination with technology and its potential to solve real-world problems. Enjoys the process of building and improving technological systems and solutions.

How PhDs Add Value for These Roles:

• Technical Skills and Knowledge: Especially for PhDs in STEM fields, their advanced technical knowledge is a significant asset in roles that involve software development, data analysis, and other technological applications.
• Project Management: PhDs often manage long-term research projects, a skill that translates well to managing technology projects, from development to implementation.
• Critical Thinking: The ability to critically evaluate information and technologies can be crucial in tech roles, where one must assess the viability and effectiveness of new technologies or approaches.

BUSINESS OPERATIONS

This function keeps the business running smoothly and typically includes roles, such as finance, human resources, and business intelligence.

Example Career Paths:

Financial Analyst, HR Manager, Talent Acquisition / Recruiter, Operations Manager, Business Intelligence Analyst

What's Required for These Roles:

Skills & Aptitudes: Strong organizational skills, proficiency in analytical thinking, and an understanding of business processes. Ability to manage multiple tasks and make data-driven decisions.

Individual Disposition: Practical, methodical, and efficient. Prefers a structured environment and is often process-oriented.

Personal Motivators: Motivated by the desire to optimize and improve business efficiency. Finds satisfaction in ensuring that the business runs smoothly and effectively.

How PhDs Add Value for These Roles:

• Analytical Abilities: The analytical skills honed during a PhD can be applied to optimize business processes, conduct financial analysis, and improve operational efficiencies.
• Strategic Planning: PhD training involves planning complex research projects that require pattern recognition and the ability to predict probabilistic outcomes, skills that are useful in strategic planning and resource allocation in business operations.
• Attention to Detail: The meticulousness required in academic research is beneficial in roles that require careful management of business processes and compliance.

CUSTOMER SUCCESS / SUPPORT

These roles serve as the voice of the customer. They often have a deep connection to how customers are experiencing the product or service and are highly involved in ensuring customers are satisfied and feel valued.

Example Career Paths:

Customer Success Manager, Support Specialist, Account Manager

What's Required for These Roles:

Skills & Aptitudes: Excellent communication skills, empathy, and problem-solving abilities. Ability to understand and address customer needs effectively.

Individual Disposition: Empathetic, patient, and resilient. Thrives in roles that require interaction with others and have a genuine desire to help.

Personal Motivators: Driven by the satisfaction of helping others and solving their problems. Enjoys building and maintaining positive relationships with customers.

How PhDs Add Value for These Roles:

• Communication Skills: The ability to explain complex concepts clearly and concisely is crucial in customer-facing roles, where one must convey information effectively to clients.
• Empathy and Understanding: PhDs often work in collaborative environments, which can foster a sense of empathy and understanding – key in understanding and addressing customer needs and concerns.
• Problem-Solving Abilities: The skill of problem-solving in academia can be effectively applied to resolving customer issues, providing solutions that enhance the customer experience.

TIPS FOR MAKING YOUR MOVE TO INDUSTRY

PhDs bring a wealth of skills and expertise that are highly transferable and valuable across various business functions. Their ability to research, analyze, innovate, and communicate are just a few examples of how their academic experience can be leveraged to add significant value in the business world. Understanding where and how your skills fit is the first step. Here are a few additional tips to make the leap:

Network: Connect with industry professionals. Start with alumni networks from your school. Reach out, connect, and conduct informational interviews to understand how they're using their transferrable skills in industry roles.

Translate Your Skills: Clearly articulate how your academic skills benefit the business world. It's not about what you've done, it's about what you've learned and how you create impact with those skills.

Stay Curious: Be open to learning new things. PhDs sometimes get a bad rap for a perception that they're "know-it-alls". Make sure you're positioning yourself with a growth mindset.

YOUR NEXT STEPS

• Join our free online community for ongoing support and networking
• Register for our next webinar, “Understanding the Vast Number of Roles PhDs Can Fill in Industry”
• Enroll in our online course, Post-Academic.Me, a 5-step course to teach you how to make the transition