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Old 29.01.2018, 14:06
J2488 J2488 is offline
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Re: Salary for health economics/market access consultant - pharmacist with a PhD

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I feel like we are going in circles .... Everyone taking a piece of the facts and making an argument about it

I know that many people also have PhD, yet this high supply would never bring the price down to the level you are talking about

Moreover, not all consultancy work is the same

Beyond, having consultants from "the relevant" background at your consultancy gives a more prestigious image to the company in front of the clients. Why would a pharmacist work for 4500 after doing MSc and PhD, while he can work for 7000 or more with pharmacy education only?!
You dont believe in Supply and Demand? I have a bridge to sell you...

You seem to have an inflated opinion of the value of a PhD. Yes, there was a time when those three letters made an important distinction and pharma companies were especially interested in hiring those.

But these days, there are so many people with Phds, and it is relatively easier to get one, so the value has gone down. Truth be told, academic qualifications, beyond a certain point, become irrelevant.

Not what you were told when you applied for your PhD, im sure.

Fact is, people with a BSc or MSc but who have 4-5 years of experience are, very often, a much more worthy investment. They know how the corporate world works, and what they need to do, certainly better then those with PhDs. They come with corporate project management skills. They understand the importance of shareholders. They understand why certain areas of research are lucrative while others arent. They can justify projects and do good science that reflects well on the company, rather then just being good science. They also come with lower wage expectations (as you prove yourself).

Your PhD makes you reasonably good at one, very minute, very specific part of the world, but a greenhorn rookie at the rest. Somebody who has a BSc but is 5 years younger? well, we can train that person the right way. Not the PhD way, but our way. In 5 years, they will be 5 years ahead of a 5-year-older PhD graduate.

Proof? Most professionals who have a PhD dont even use the 'Dr.' title or put the letters after their name. They're just not worth that much anymore, and in some cases are a drawback.
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