I was asked for my thoughts on PhD students pursuing industry careers.
My thoughts have evolved over time.
When I first earned a PhD, I was parochial - I ascribed to the US #businessschool model that top students became #academics & those that went to industry were somehow deficient.
When I reached mid-career, I visited schools in Europe & Asia - I learned that my US value system about PhD placements was completely wrong.
In Europe, I met many talented PhD students interested in the rigor and thinking offered by academic research but who wanted careers in industry.
In Asia, I met many talented executives who sought PhDs for similar reasons - only they completed the degree while working.
I learned that high-quality PhD students could, & sometimes should, pursue careers in industry - bc of their research or personal interests.
These days, I am more open-minded. I don’t think an academic life is for every #PhD student. I do think there are industry opportunities that leverage academic training for many early career students.
So what should inform your career choice? Of academic? Versus industry?
First, know that while some people move between industry & academe, in most fields, that is atypical.
It is hard to straddle both worlds. In many fields, coming back from industry is very difficult.
So think it through.
Second, if you loathe teaching, academe is not for you.
We all teach - if you don’t love it, maybe pursue a diff path?
Third, if you loathe research, academe is not for you.
Be a job at a teaching or research school, we all publish. We have to for accreditation.
Fourth, if you want to be rich, academe is not for you.
My undergrad history professor said being a faculty member meant always being the third owner of a car.
He was mostly correct - very few faculty are buying new BMWs.
Fifth, if you have no patience for incompetence, academe will be challenging.
The Peter Principle is real in academe.
Sixth, if you love teaching, stick around.
There are not many better moments than a good day in the classroom.
Seventh, if you thrive without structure, academe needs you.
Great academics require little direction.
Of course, there are more reasons to opt for industry over academe- such as the opportunities available, aptitude for teaching or research, family constraints and more - so you need to carefully think through your job market, aptitudes & family situation as you select a career path.
When you conclude that you will be happier or more fulfilled in industry, then go (& hopefully, you won’t look back!).
The point of earning a PhD is not to be a professor - it’s to develop deep knowledge, to understand how to solve problems, & how to communicate solutions - all of which are success factors for industry leaders.
What is most important, is using your skills to have an impact & find your happiness.
Best of luck!
Comments