PHD rewards?? Watch

n2cool2resist
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Hi, Im planning to do a PhD in Pharmaceutical sciences and Pharmacy but Im not sure if doing a PhD is financially rewarding. As much interest I have in research and doing a PhD, Im not certain if it is more rewarding than something like Pharmacy or Pharmacology in the long run?. I would be grateful for your help .. Thanks
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Spanky Deluxe
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I don't quite understand. Are you saying that you're not sure if doing research will pay more than becoming a shop pharmacist?

PhDs are reasonably paid considering you're still a student. Post-graduation you could stay in academia and earn modest amounts or you can go into industry and work for a pharmaceutical company and earn far more. Its also possible to get PhDs funded by pharmaceutical companies and these often pay quite a bit more for you to do your studies.
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hobnob
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You want to do a PhD because you're expecting to be rewarded for it?
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oriel historian
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(Original post by hobnob)
You want to do a PhD because you're expecting to be rewarded for it?
Nah, I think they mean in terms of personal contentment and overall adding to feelings of self-worth. As in, am I gonna enjoy it and is it going to be a rewarding experience. Only the individual can decide that, but if you're willing to do it then presumably you already know the rewards associated with academic life and also the downsides.
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hobnob
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(Original post by oriel historian)
Nah, I think they mean in terms of personal contentment and overall adding to feelings of self-worth. As in, am I gonna enjoy it and is it going to be a rewarding experience. Only the individual can decide that, but if you're willing to do it then presumably you already know the rewards associated with academic life and also the downsides.
Well, the OP's post just seemed to suggest that those aren't the rewards he's primarily interested in.:dontknow:
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oriel historian
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(Original post by hobnob)
Well, the OP's post just seemed to suggest that those aren't the rewards he's primarily interested in.:dontknow:
Indeed. I guess I put too much faith in people not to be finance whores... :p:
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n2cool2resist
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I want to do PhD purely because of the love of research. But since i have also completed my Bsc honours in Pharmaceutical sciences, I have also been offered a place for Pharmacy. So my question is in Terms of everything, financial rewards, skills that i would aquire. Since i would like to dedicate my career to industry, i would not want to go towards the academic part.
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Spanky Deluxe
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Wait, so you want to do a PhD for the love of research and would like to work in research not in academia because you want to earn money? Sorry, its a bit hard to understand what you want.

I don't know how much a pharmasist in Boots earns as a starting salary but it'll probably be more than a PhD. A standard PhD stipend is about £12,900 outside London, £14,900 inside which is equivalent to a taxable job paying £16,374 outside London, £19,273 inside London. Most stipends are for three years, some are for three and a half, some are for four. Most PhDs take 3.5 to 4 years to complete so there may be some time of not having much money.

If you're happy to go off and work for a pharmaceutical company post-PhD (some people would call this 'selling one's soul') then you'll probably go off to earn a lot of money, with it going up to maximum earnings of *serious* money. Since I don't know how much pharmacists/researchers for pharmaceutical companies earn, I can't tell you which will give you more money in the long run.
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apotoftea
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(Original post by Spanky Deluxe)

I don't know how much a pharmasist in Boots earns as a starting salary but it'll probably be more than a PhD. A standard PhD stipend is about £12,900 outside London, £14,900 inside which is equivalent to a taxable job paying £16,374 outside London, £19,273 inside London. Most stipends are for three years, some are for three and a half, some are for four. Most PhDs take 3.5 to 4 years to complete so there may be some time of not having much money.
Just to highlight an slight issue - only the minority get funding, stipends or studentships for PhDs. In response to the OP - you may well be paying for your PhD yourself.
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The Boosh
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the pharmacists i know are bored as hell and want to get out of it!
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The Boosh
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re: figures, you get paid more to be at sainsburys because pharmacists are on management scales which are higher at sainsburys than boots (as far as i can tell). my pre-reg mate started on around £30,000 (straight after uni) and is now earning way over this as a registered pharmacist working at superdrug. he had pre-reg jobs offered at sainsburys and boots and took the sainsburys job on the grounds that the money was far superior.

academic researchers, i.e. postdoc fellows, typically start on less than £25,000 (i'm applying for a very competitive fellowship at the moment that offers £24,000, but to be fair, i've put in for nearer £28,000 for an esrc bid - though this is VERY rare for a postdoc as far as i can tell). industry researchers can no doubt earn much more than this because the sector is private and not regulated, but i don't know what private pharmacy researchers start on but i'm guessing the jobs are more competitive and a phd is minimum requirement for most occasions (chemistboy and flexifish will know more more than me on this)
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Spanky Deluxe
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(Original post by apotoftea)
Just to highlight an slight issue - only the minority get funding, stipends or studentships for PhDs. In response to the OP - you may well be paying for your PhD yourself.
That's true in the arts but in the sciences its the other way around. Only the minority do PhDs without funding. There's just way more money in scientific research. Biology, Chemistry and Medicine related PhDs (into which Pharmacy falls) have even more funding than most of the sciences because of all the big money charities, pharmaceutical companies etc. The same could be said for things like Geophysics.
In the arts you need a 1st or a high 2.1 + MA or even a 1st + MA to realistically get funding whereas in the sciences you can get it with a 2.1 or 2.2 + MSc. In that respect, us sciences do get it a bit easier than you poor art guys.
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History Lost in Physics
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****** the money - people have to call you Doctor!
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Rocking-Rob
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Do it for yourself. Unless you win the lottery soon your going to be working for a long time, a few more years out of a career won't hurt and besides its another qualification and you'll be a Doctor.
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ChemistBoy
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A PhD is not going to a) qualify you to be a pharmacist if you aren't already, b) mean diddle squat to high street dispensing chains. A PhD is a research degree and you should be aiming to do research-based work (or allied things such as scientific instrument supply, etc. where your technical skill would be required) not dispensing pharmacy, for example, it's not about getting better earnings its about choosing a career path you would be most happy in when deciding between a PhD and professional qualifications. Clearly being a qualified pharmacist offers a clearer path to plot earnings, with a PhD you could end up doing a whole range of things, each with a different remuneration package.

My PhD has both opened and closed doors as I have become a specialist and that is what you should think about, where do you want to specialise and what do you enjoy doing?

PS being able to call yourself Doctor doesn't really change anything.
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Quady
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The money isn't amazing and if you try and get people to call you doctor outside accademia then you'd lose a lot of friends!

That said, hardly anyone in the UK does pharmacology and if would be very easy to sell out and work for GSK/Novartis/GM Heathcare, especially if you get a Home Office licience to cut up kittens.

I would have thought that would be more financially/interlectually rewarding in the long term. As long as you dont mind being somewhere between being a pet shop owner and a vet :P
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ChemistBoy
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(Original post by Quady)
The money isn't amazing and if you try and get people to call you doctor outside accademia then you'd lose a lot of friends!
That's not quite true. In industry use of titles seems to be far more common than in academia where a 'first name' culture pervades.
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Quady
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Only on business cards in my experience. For Kraft Foods and Johnson Matthey anyhow its a first name only basis. In academia door signs and meeting minutes have the appropriate prefix (I know researchers don't go around calling each other doctor).

My experience of industry is people are positioned in the hiarachy based on their title eg 'student scientist', 'research scientist' 'principle scientist' etc. In academia it is the same but the prefixes are Dr/Prof etc. No?
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ChemistBoy
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(Original post by Quady)
Only on business cards in my experience. For Kraft Foods and Johnson Matthey anyhow its a first name only basis. In academia door signs and meeting minutes have the appropriate prefix (I know researchers don't go around calling each other doctor).
Doesn't really tally with my experience, I'm afraid. I guess titles become generally less important the more people have them, if you are working in the research section of johnson matthey then I should think that many people have a PhD so its less of a big deal than say, working in an environment with a lot of engineers who only have a first degree.

My experience of industry is people are positioned in the hiarachy based on their title eg 'student scientist', 'research scientist' 'principle scientist' etc. In academia it is the same but the prefixes are Dr/Prof etc. No?
There is a hierarchy, of course, mostly enforced by adminsitrators. Because each academic is an individual with his or her own research interests and funding any research-based stuff they are all considered as equals unless it is on a joint project where certain academics are classified as senior managers. The industrial hierarchy is more rigid and permanent than that.
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Spanky Deluxe
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(Original post by ChemistBoy)
PS being able to call yourself Doctor doesn't really change anything.
Yes it does! It makes your grumpy letters of complaint sound that little bit extra threatening!
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