Careers in Pharma & Healthcare

By Ulhas Karkhanis

Often referred as the 'Sunrise Industry', the Pharma & Healthcare sector is an ever growing industry. With the recent announcement of National Health Policy 2017, it is understandable that the government initiatives, investments and priorities are bound to further boost the growth and have a positive impact on jobs and careers in every related segment such as pharmaceuticals, medical device, medical equipments, diagnostics, health insurance and hospital care.

Jobs or Career?

First things first! Set your priorities right. A ‘job’ relates to only employment and it has more to do with the nature of work. On the other hand,  'career'  requires focus, purpose and comes with some expectation of progress throughout the course of an individual's work-life. So, to everyone reading this - Think about 'Careers' and not merely 'Jobs'.

Basic Eligibility

All young graduates from science background, irrespective of their streams like pharmacy, biochemistry, microbiology, biochemistry, biotech, chemistry, biomed have ample opportunities to build long-term careers in Pharma & Healthcare sector. We must understand here, all these streams are inter-related and, therefore, some familiarity with all the streams, coupled with graduation in any one of them, is the basic requirement, which is what your current graduation helps you achieve. Thereafter, depending on the nature of business of the company that you join, you can acquire deeper insights into knowledge, information about products, processes and technology.

Intense Competition

In an intensely competitive work environment, graduation can give entry or provide eligibility for jobs. Going beyond, one needs domain knowledge, management skills, expertise and approach to understand, analyze and solve problems, take quick decisions, and build teams.

A good post-Graduate Diploma in Management (PGDM), helps you develop the personality, skills, business knowledge and a lifelong network. Not only that, it takes your career on fast track, right to the top. It is not uncommon in Pharma & Healthcare sector to see pharmacy or science graduates with management studies reach the top levels, including to the CEO positions. Only sky is the limit!

Career Prospects

The industry broadly offers two suitable career options. One is on the technical side and relates to manufacturing, quality control, quality assurance, research & development. Simple graduation restricts career growth as one needs to have at least post-graduation or , better still, a doctoral qualifications to move up the ladder in the technical wing. Few students can reach such high academic levels. So, the dream of rising to high positions in career will have limitations, naturally!

The second is career in marketing. The sheer numbers of jobs, growth and scope is so vast that a science degree and a PGDM course can set your careers to lofty heights. Multiple opportunities in sales, marketing, brand management, advertising, consulting, business strategy are open. Most people having post-graduate management qualifications, coupled with necessary skills, exposure, hard work & performance have done wonders to their careers in the industry. Instead of a general PGDM, options like PGDM in Pharma & Healthcare Management studies give a terrific competitive advantage in making big careers.

In Mumbai these courses are available at IES Management College, Welingkars, NMIMS, SIES, besides Symbiosis Pune, IIHMR Jaipur and few more centres in Bangaluru, Hyderabad.

Emerging trends

Pharma & Healthcare companies are globally investing in innovative products to treat increasing lifestyle-related diseases such as diabetes, cancer, heart ailments and neurology disorders. They need professionals with better convincing skills to push new and complex brands into the market. The management graduates with science background can understand the product better and can make better presentations to specialist doctors.

The top 20 companies control at least 40% of the total market and they are in the forefront to recruit such specialists. Another factor is that, they mostly have marketing partnerships with global pharma companies who have very unique brands, which require better introduction to doctors and medical practitioners.

Pfizer, Sun Pharmaceutical Industries, Abbott, Dr Reddy's Laboratories, Cipla, Lupin, Glenmark Pharmaceuticals, Mankind Pharma, Torrent Pharmaceuticals, Ipca Laboratories and Hetero Drugs are all hiring management and pharmacy graduates as marketing executives and are paying hefty salaries. Lupin is one of the pioneers in hiring management graduates and domain experts for sales.

Quickly moving up the line from sales, these management graduates get exposure in brand management, marketing management, advertising, consulting, market research. In about 10 to 15 years one can reach the level of Marketing Manager in a large sized pharma company and, in few more years thereafter, in senior management functions. Starting sales jobs at an attractive package of around Rs. 5 to 6 lakhs per year in reputed companies, one can multiply earnings in the next 5 to more than two-fold. 

About the Author:

Ulhas Karkhanis is Associate Dean, IES Management College & Research Centre, Bandra (West), Mumbai. He has spent nearly 4 decades working in the pharma industry for reputed MNCs & big Indian companies holding senior management positions. He is now a Marketing Consultant for various of pharma companies.