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Biotechnology is a field that combines biology and technology to produce new innovations or reimagine existing solutions in our day-to-day lives. From spurring health breakthroughs like vaccines to reducing energy waste in food and beverage packaging, biotechnology touches all corners of our world. A career in biotechnology encompasses a variety of professional opportunities. Biotechnology includes everything from scientific work in laboratories to administrative work that requires a business mindset. The field is open to anyone who’s willing to dive in.(1)
The global biotechnology market is expected to reach 727.1 billion by 2025.(2)
Careers in biotechnology can be categorized into two areas, scientific and administrative.
Scientific Careers in Biotechnology
The role of Biomedical Engineer combines biology and medicine with engineering to develop machines and processes, such as artificial limbs, monitors used during surgery, and more.
- Biochemist – Studies the chemical, physical principles of biological processes, such as cell development, growth, heredity, and disease, to develop better detection of diseases, new drugs, medications, and more.
- Microbiologist – Studies microorganisms to understand how they live, grow, and interact with their environments to create new drugs, better biofuels, and more.
- Soil and Plant Scientist – Studies the chemical, physical biological and mineralogical composition of soils as they relate to plant or crop growth. In addition, these scientists investigate different practices affecting soil and crop productivity.
Administrative Careers in Biotechnology
For those who want to work in a business setting, the biotechnology industry offers a variety of career paths.
- Financial Analyst – Gathers financial information to make a recommendation for business investment decisions.
- Financial Manager – Directs investment activities and develops strategies to achieve an organization’s long-term goals.
- Director of Finance – Advises on the best path of growth for an organization.
- Chief Financial Officer (CFO) – Ensures accurate reporting of financial information, plans for an organization’s financial future and signs off on investment decisions.
- Marketing Specialist – Brainstorms and develops marketing ideas and assists in executing campaigns.
- Marketing Manager – Develops and executes marketing plans for a business to attract potential customers and retain existing ones.
- Marketing Director – Oversees implementation of an organization’s marketing strategy.
- Chief Marketing Officer (CMO) – Oversees every step of the marketing process to ensure an organization generates the necessary revenue to meet its sales goals.
- Medical Sales Engineer – Sells medical products by leveraging his or her extensive technical background.
- Medical Sales Line Manager – Provides training and manages sales employees in pursuit of achieving an organization’s sales goals.
- Medical Sales Director – Sets an organization’s sales goals and ensures regional sales managers lead their teams successfully to achieve these goals.
- Biotechnology Operations Manager – Oversees the production of goods and services to ensure the quality, efficiency, and potential of new processes.
- Biotechnology Director of Operations – Sets goals with superiors and monitors the day-to-day running of a business to ensure that goals are met.
- Chief Operations Officer (COO) – Ensures an entire organization runs smoothly by setting operations strategy and policies.
The U.S. bioscience industry has reached 2 trillion in annual economic impact.(3)
Biotechnology Salaries Offer Financial Security
A career in biotechnology can mean great financial security. The average annual wage for a U.S. bioscience worker reached $98,961 in 2016. Today, bioscience firms employ 1.74 million people, with 273,000 of those being high-paying jobs.
Here are the national average yearly earnings for some of the above roles in biotech in the United States:(4)
- Biotechnology Financial Manager: $78,216
- Biotechnology Director of Finance: $142,876
- Biotechnology Chief Financial Officer: $158,553
- Biotechnology Marketing Specialist: $50,390
- Biotechnology Marketing Manager: $80,637
- Biotechnology Marketing Director: $116,012
- Biotechnology Chief Marketing Officer: $189,521
- Biotechnology Sales Engineer: $87,504
- Biotechnology Sales Director: $109,477
- Biotechnology Operations Manager: $69,303
- Biotechnology Director of Operations: $107,831
- Biotechnology Chief Operations Officer: $164,934
Not only is a career in biotechnology far-reaching and impactful, but the opportunities for aspirational and financial growth are limitless. An online MBA in biotechnology & innovation prepares students to be leaders in the biotechnology field.