Getting a PhD degree is one of the greatest challenges in your academic journey. As more and more surveys reflect the increasing degree of uncertainty and stress among graduate and postgraduate students, many of them are concerned about their future employment opportunities.
Most PhD graduates dream of building a solid career in the first years following their thesis defence. However, this outcome requires careful planning and a proper choice of employment options. In this article, we will analyse the top 10 industries/sectors where your PhD degree will be of ultimate value.
1. Data Science
This field is one of the most rapidly developing ones in the early 2020s as big data opportunities are realised by large corporations. Your analytical and computational skills as well as a unique PhD focus may be a major advantage for getting a well-paid job in this sphere.
The best offerings can be found by the candidates whose core skillset is largely based around Mathematics and Statistics. However, you can also benefit from a good knowledge of a certain market or industry allowing you to conduct research without assistance from the marketing department of your future employer.
2. Healthcare
Healthcare has faced a number of challenges during the COVID-19 pandemic that highlighted the need for innovation. People with PhD degrees in such spheres as information systems, medicine, biology or pharmaceutical management may be beneficial for finding new treatment methods or improving the quality and accessibility of services. The COVID-19 crisis has opened multiple opportunities for improvement that can utilise both medical knowledge and technical competencies.
3. UX Design
User experience or UX is another field that is closely associated with consumer psychology, visual design, software development, and other spheres allowing applicants with a PhD degree to realise their vision.
Job offers usually come from banks, healthcare companies, retail organisations, and other service-oriented companies that are highly interested in improving the convenience of customer-organisation interactions. Problems in this sphere can be encountered in all sectors of the economy, which is why a compatible PhD degree may be highly beneficial for building a successful career in this sphere.
4. Telemedicine
This industry is another rapidly developing sector allowing thousands of people to instantly gain access to quality medical consultations without visiting physical hospitals. It is characterised by high levels of complexity due to patient records security issues, and applicable legislative provisions. As well as the need to merge public and private databases and the technological challenge of developing reliable, secure, and globally accessible communication systems. The ‘borderline’ nature of this sphere implies that organisations are seeking the owners of PhD-level knowledge in all aforementioned areas to build competitive solutions for their customers.
5. Market Research
Recent PhD studies focused on modern marketing management issues may greatly assist practitioners in identifying new customer needs as well as potential opportunities for disruptive innovation business models. The graduates possessing such knowledge may be of special interest to companies interested in psychological, behavioural, computer science, and economics competencies of the applicants. These skills can help them gain deeper insights into their consumer needs and develop better solutions, products, and services.
6. Management Consulting
The base salaries of consultants with a PhD degree at McKinsey have reached $165,000 in 2019 and are expected to grow further in the future. The unique skillset possessed by such specialists gives them deep insights into the business world and critical thinking competencies allowing them to solve most customer problems. You can use networking to start your transfer early and build connections in this sphere during your final PhD years.
7. Chemical Engineering
This sphere offers hundreds of jobs in both public and private sectors where candidates with applicable PhD degrees can help companies design new chemical manufacturing procedures. It combines engineering, chemistry, and production processes, which makes it highly challenging for practitioners. A PhD degree can be a huge bonus for winning top positions in it and building a fantastic career.
8. Education
A person with a PhD degree is an ideal assistant professor for colleges and universities interested in teaching graduate and undergraduate students. Similarly, such candidates can build fantastic careers in private high schools where their knowledge and competencies can help learners achieve academic success. While this sphere may be seen as one of the more traditional ones, the growth of remote education schemes and other technologically advanced options has led to the emergence of new and unique opportunities in it. Your PhD degree allows you to capitalise on these developing trends and build a career in global companies targeting multiple international markets.
9. Project Management
Applicants with STEM PhD degrees may find project management to be one of the best recruitment options. Their deep knowledge of the targeted sphere may help them plan resource allocation and ensure the timely completion of any organisational endeavours. This may be especially important for technology-based spheres where the use of digital analysis instruments, performance management tools, and solid knowledge of finance and accounting can help PhD degree owners achieve superior results.
10. Technology Transfer
If your PhD project was specifically focused on the development of innovative technologies with great market potential, you may consider the role of a technology transfer professional as your future career path. These specialists are responsible for establishing communication between academic research institutions and commercial firms interested in the practical realisation of their ideas and findings.
Your competence as a PhD degree owner may be invaluable for bridging the gap between these two worlds and assisting your new employers in building optimal intellectual property portfolios and purchasing the most promising innovative technologies in certain spheres.
Final thoughts on the best industry for PhD graduates
The key to succeeding in any endeavour is starting early. Whatever sphere you choose, you need to start developing a network of contacts during your final PhD years to get good offers after your thesis defence. To realise this goal, you may also have to work on your soft skills including communication and negotiation. This approach will ensure that you will get a good start in your career and will maximise your chances of using the full potential of your PhD degree.
Author Bio
Ellie Richards is an online Marketing Manager for Original PhD, specialising in PhD thesis writing. She is passionate about researching and writing on various topics, including Education, Marketing, and Technology.
