How Many Jobs are Available in Major Pharmaceuticals in 2023?

One of the industries with the highest salaries is the pharmaceutical sector. The pharmaceutical industry is in charge of creating medicines for society and carrying out medical research to develop modern medicine. They have several well-paying employment positions, some of which don’t even call for education or prior work experience. How Many Jobs are Available in Major Pharmaceuticals in 2022?

Consider working in pharmaceuticals if you’re searching for a well-paying position and wish to work in healthcare or medicine.But before we dive in and answer how many jobs are available in major pharmaceuticals, we must take a closer look into this industry.

How Many Jobs Are Available in Major Pharmaceuticals?

As revenue in the pharmaceutical industry goes up, so, too, should hiring but it all depends on the specific role. For example, while jobs for pharmacists are only projected to grow by 2% through 2031, according to the U.S. Bureau of Labor Statistics (BLS), medical scientist jobs should increase by 17% in the same period. Pharmaceutical manufacturing is one of the highest-growth sectors of the industry. In a 2021 report, the National Association of Manufacturers reported that pharma manufacturers employed an estimated 267,000 people in the U.S. These employers include startups, midsize companies, and giant corporations.

Between 2019 and 2029, the number of jobs in the pharmaceutical and medicine manufacturing sector is estimated to grow by 19%, says the BLS. The bureau attributes some of that growth to increased preparation for pandemics and increased production of vaccines.

What Do Pharmaceutical Jobs Pay?

According to the BLS, the average annual pay in pharmaceutical and medicine manufacturing stood at $74,560 in 2021. That’s well above the average $58,260 yearly pay for all occupations in the U.S.

However, with so many different positions in the industry, the pay ranges drastically. For example, pharmacy technicians made average yearly salaries of $35,250 in May 2021, while compliance officers earned $82,510.

A stay-at-home mom’s resume job description may include skills like multitasking, time management, budgeting, child care, and household management, showcasing valuable abilities gained from managing family life.

Best-Paying Jobs in Major Pharmaceuticals

Many positions in major pharmaceuticals pay more than $100,000 a year. For instance, the average base salary for a pharmaceutical scientist is $170,000 annually, with total compensation exceeding $206,000, according to the American Association of Pharmaceutical Scientists. And pharmacists average around $125,690 per year, with the top 10% making more than $164,590.

Senior executives at major pharma companies can pull in millions of dollars a year, says DynamiCoach founder Tom Cobin, a former pharmaceutical sales representative and sales trainer who now offers public speaking and presentation skills coaching. How Many Jobs are Available in Major Pharmaceuticals in 2023?

Types of Careers in the Pharmaceutical Industry

The pharma industry offers various career path opportunities, from research and development (R&D) to sales and marketing, manufacturing, and science. Some of the most common major pharmaceutical roles are:

Scientist
Chemist
Pharmacist
Clinical research manager
Project manager

Manufacturing manager
Quality manager
Contract manager
Supply chain director
Regulatory affairs officer

Entry-Level Careers in Major Pharmaceuticals

Many entry-level pharma careers are junior versions of more advanced positions. They include:

Junior sales representative
Junior account manager
R&D associate
Associate chemist
Lab assistant

Pharmacy technician
Associate scientist
Supply chain associate
Junior financial analyst

Skills Needed To Work In Major Pharmaceuticals

Excellent communication:

This means you are good at expressing yourself and have strong listening skills. You can communicate well with others.

Technical analysis:

You can analyze data and information well on a technical level. You’ll be able to look at complex problems with a technical eye. This is a strong skill to have if you work in data, research, or analysis within the pharmaceutical industry.

Leadership:

Having strong leadership skills means you can lead others. You work within a team environment and have strong managerial skills, which is beneficial for management and leadership positions.

FAQs

1.42 trillion U.S. dollars

The reason for this is the large number of opportunities that technology will give to this sector. Pharmaceutical IT trends that you should pay attention to include blockchain technology, AI and ML, cloud technologies, big data, precision medicine, and advanced analytics.

Pharmacists will be able to take on a role similar to a physician, and use AI to complement their consulting work. Pharmacists will be able to operate as care providers and advise patients on their medical conditions while delegating administrative tasks like the collection of medications to AI-powered machines.

Pharmaceutical careers are highly lucrative. When you establish your position in this industry, you open your doors to countless opportunities for growth and learning. People working in pharma get numerous benefits, as well as exceptional salaries. The job satisfaction and sense of achievement are also high.

The United States

Approximately 294,250 people are employed in the pharmaceutical

Conclusion

After you pick the pharmaceutical career you want to work in, the next step is to make sure you have the background, education, experience, and skills to land that job. Sometimes that involves going to school to get a bachelor’s degree or higher, other times it may require you to go through training and some jobs are available to beginners with no degree or experience required. Your next step is going to begin your career search and you can look to these places to find high-paying jobs in major pharmaceuticals