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.
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:
Entry-Level Careers in Major Pharmaceuticals
Many entry-level pharma careers are junior versions of more advanced positions. They include:
Skills Needed To Work In Major Pharmaceuticals
This means you are good at expressing yourself and have strong listening skills. You can communicate well with others.
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.
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.
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