Options:
1.PhD at U Maryland (top program for pharmaceutical economics)
2. Job at Johnson and Johnson

Dilemma: I have a science background, only experience in pharmacoeconomics are through literature (which is fascinating!) Worried I may hate the field, or not have it in me for another 5 years.

Doing another masters is not an option (have an MS in biotech). Did you all have a passion for your field before you began? Did you worry you'd hate it in a few years, or even doubt your ability?

I have 3 weeks to decide...Help..Please.

Im in a similar situation. I have had a job offer and a PhD offer...I really dont know what to do. How much is a PhD (a non-CASE one from a university) actually worth in industy? How relevent is it? I recently got told that I would be in a better position in the eyse of industry with degree and years placement than with a PhD. I suppose I have to decide wether I want to work in industry or academia but I can not.

I was told a PhD is definitely more lucrative in industry down the road.
However, if I work for the next 5 years, no one knows where I will be.

I am not doing a PhD to become an academic. Rather, I want to do it to gain valuable skills that I can use in industry.

Perhaps when I graduate, there will be too many PhD's. Perhaps the company would prefer a masters student with years of experience.

Main issue for me, is I dont know if I will like it.

I noticed a few posts on the board, of people pursuing a PhD in a field they are not 100% familiar with. How the heck did you rationalize dedicating 5 yrs of your life to something you werent 100% on ?

Industry sources have also told me that to get to the high ranks of a company, you need an MD or PhD. In fact, 2 managers I know from Schering Plough, and doing a p/t PhD program to advance their careers.

I dont think a PhD can hurt, I just question where I will be happy...since I lack industry experience, and research experience in my PhD area, the happiness question cannot be answered.

I agree with djgoldma. Having worked in industry, I know for a fact that there is only so far you can go without a PhD (unless you are VERY lucky). If you can live with the fact that your colleagues with PhDs, yet maybe not as good as you, will advance quicker, then forget the PhD.

The only reason I'm doing a PhD is to get a good job in industry and its not a secret i.e my supervisors all know this.

Hey 'H'.

May I ask you though..is your PhD the same specialization as your job ? See, mine will not be.

I am trained in economics and the life sciences. However, the only research I have in scientific lab research...never actually did any economics research.

Now, I hate lab work...and regarding econ, I love econ, but the only experience I have is paper reading. Hence, I don't know if pharmacoeconomics will be right for me. I cannot test the waters...

Yes, I should have done my masters in that field, but hindsight is 20/20. So, I need to take a leap of faith, and am looking for some alternative perspectives from forum members.

Well, I worked for two years in industry based in the lab and decided I didn't want to do this forever and I realised it was really difficult moving up the ladder without a PhD. I came across a more specialised MSc course with new techniques etc and went for it. I then came to the conclusion that this is what I wanted to do but all the good jobs in industry require a PhD. Luckily I got offered a PhD at the same department where I did my MSc.

So basically my two years in industry made me realise that I DID want to work in the pharma industry but not actually being in the lab.

I understand you have a PhD place, do you think you would be able to get another PhD place in a year or two? If the answer to that is yes, then working in industry (especially for a company like JnJ) can do you no wrong. At least you will know its the right field for you and you can use your experience towards a PhD.

Oh I just realised, the job at JnJ, will that not be anything related to the PhD offered?

Job offer is regulatory aggairs and clinical trials...PhD is for pharmaceutical economics.

Here's the dilemma. Job offer is in canada, PhD in Maryland. I am married, and originally from Canada. I cannot take my wife back to canada, only to pick up and leave 2 years into it, and go to Maryland. We are recently married, and we already moved countries for me to do my masters.

I mean, people are saying the PhD will give me advanced skills, and that besides pharmaceutical economics, I will be trained in epidemiology, and health outcomes research...my project will be focused on 1 area. So, the advice I am getting is that the skills I will get from a doctorate are phenomenal, and even if I don't like my project in the end, all of my skills and knowledge from the other areas I was trained in...will pay off.

What was your masters in,and what is your phD in..?
What company did you work for, and if you don't mind me asking, do you know what the salary increase will be, once you have a PhD.

The thing is, you may never get a chance to do a PhD in that particular area ever again and then it would be a case of "what if". On the other hand, I understand PhDs in the US are more like 5+ years whilst in the UK they are 3-4 years. So you might end up being stuck doing something you hate for ages. Would you be able to do something like an MPhil if you decide part way through that you don't want to carry on?

I don't really want to give those details out as this forum is googleable and what I'm doing is VERY specific to a small number of unis. If you pass on your email to the admin on this site and ask them to pass your email address onto me, I will email you.

Yes,

The PhD is 4-5 years here. They told me that if you fail your qualifying exam twice, you get a masters and leave the program...No option for Mphil.

But, you nailed my exact dilemma. Part of me says, just do it...you may hate it, but you are a motivated guy...you will get through it...another part of me says, take the job, work, make $$, get an MBA in a few years, you'll makethe same if not more money....but in 5 years it seems 50% of the world will have an MBA :)

The fact that you think the literature for the PhD topic is "fascinating" says a lot. It sounds like you are really interested in this area.

Deciding to do my PhD was also a big decision for me mostly due to family pressure. In the end I decided that if I didn't go for it, I would always look back and think "what if".

Are you married..have children? Did you need to relocate for your PhD?

I am married, no children, and yes, I will be relocating. Family just keeps saying "Do what makes you happy." Problem is that I have been in school doing my BSc, and then MSc. for the last 6 years. All I know is coursework, and laboratory work...no clue what will make me happy.

Best case would be to work for a year, then perhaps do a PhD. but, I don't like the program in Canada, and relocating again may cause my wife to beat me :)

I did have to relocate but nowhere the distance that you will! Technically I'm supposed to live with my parents until I get married so being so far from my real home is quite difficult for me.

I'm getting hitched next summer.......luckily my fiance is willing to move to where I do my PhD.