Biotechnology is a rapidly growing field that encompasses many career paths within corporations, startups, universities, and the government sector. It merges biology and technology to treat a wide range of medical conditions. Biotechnology has also influenced other industries such as agriculture, offering sustainable solutions for food production.
Career prospects are promising in this $114 billion industry. The Bureau of Labor Statistics projects that the employment rate in biotech overall will increase by 7% between 2018 and 2028. For some jobs such as Genetics Counselor, growth is projected at 27% for the same timeline.
Because biotechnology draws upon emerging technologies such as genetics and stem cell therapy as well as artificial intelligence, most jobs in this field require a graduate-level degree. Keck Graduate Institute (KGI)’s Master of Business and Science (MBS) program provides students with the rigor they need to pursue a career in biotech as well as hands-on experience through projects sponsored by leading life science companies.
Careers in Biotechnology
Here are the top functional areas for KGI graduates from the MBS program:
Because KGI’s MBS program combines core science instruction with MBA-style courses, graduates are particularly well-equipped to become Consultants for biotech companies. A biotech Consultant helps companies to become more efficient and to tap into emerging therapies and technologies to develop new products
Project Managers in biotech coordinate the development of new drugs, medical devices, and other technologies. Responsibilities include overseeing discovery, development, testing, and manufacturing processes. This field draws upon leadership and research skills as managers guide their teams in completing a project under budget and on schedule while staying informed on regulatory standards.
Marketing / Sales—45%
Someone who works in Sales and/or Marketing in biotech must be able to clearly communicate the value of their company’s products to individuals with a non-science background such as investors, analysts, and the media. They also educate potential customers—often healthcare staff—on their products, which includes making phone calls and holding seminars.
Market Analysis / Competitive Intelligence—40%
Individuals in this field gather data from the market and competitors in their industry that can be used to develop relevant products and technology. This data can help biotech companies make more informed decisions when it comes to product development, pricing, and areas of research to pursue. It also helps companies to anticipate new regulations as well as emerging technologies.
Business and Science Development—39%
Business Development professionals are involved in many aspects of the biotech industry and their roles can include marketing, researching new technologies, improving upon existing technologies, and planning growth and investment strategies. When working for startups, their role is more likely to include marketing.
Clinical / Regulatory—39%
Regulatory responsibilities within biotech include overseeing clinical trials, making sure that a company’s products are compliant with the latest regulatory standards, and lending clinical expertise to the development of commercial products.
Research and Development—37%
This field involves researching medical conditions, drug interactions, and emergent technologies in order to develop drugs and medical devices to treat these conditions. Additionally, responsibilities might include improving diagnostic tests or medication strength and purity.
Those in Manufacturing Operations oversee lab operations, ensuring that standards for quality and safety are met. Responsibilities may include evaluating data from experiments, checking for cell contamination, taking inventory of supplies/equipment, assigning lab tasks, and training new lab assistants.
Quality Assurance, which involves monitoring quality during the production process, plays a vital role in upholding safety and quality standards. Responsibilities typically include testing for contamination and overseeing a system of processes that ensures all employees are following safety guidelines and that equipment and procedures meet current regulatory standards.
Those who work in Supply Chain Operations are responsible for overseeing supplier and vendor relationships, managing inventory, and logistical planning to guarantee uninterrupted supply of lab cultures and equipment. Often individuals in this position must coordinate with sales teams to ensure that revenue and margin targets are met as well as with quality and regulatory departments to uphold safety standards.
Bioprocessing involves developing methods and equipment for creating products made from biological materials such as pharmaceuticals, food, and cosmetics. A bioprocess engineer must be knowledgeable about various cell cultures and well-versed in upstream and downstream processes.
Leverage Your Biotech Skills: Earn a Master of Business and Science from KGI.
Over 90% of KGI’s MBS alumni obtain industry positions within six months of graduating. With unmatched industry connections and relevant internships, our program sets you up for success in the science and business spheres. Read more about what you can do with a Master of Business and Science from KGI in our MBS Guide: Impact Biotechnology and Bioscience: KGI’s Business and Science Degree