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A PhD’s experience in Life Science Consulting

By uczjsdd, on 18 October 2018

What are you up to now?

I’m an Associate Consultant working for IQVIA, which was formerly known as IMS and Quintiles before these companies merged. IQVIA as a company offers a whole range of services for the healthcare industry from R&D to commercialisation, and as part of Consulting Services we do a broad range of strategy consulting work relating to Life Sciences and Healthcare. This could relate to anything from early stage product development all the way to understanding the best way to commercialise and launch a product around the world.

How did you get here?

I realised at the end of the second year of my PhD that I didn’t want to continue in academia, for a bunch of reasons, but mainly because I wanted to try something outside basic research that may translate more immediately to impacts in the shorter term. As one of the preparations  I started going to UCL’s grad school courses, and my first role I took was actually a direct result of UCL Careers’ Focus on Management which had brought in four major employers, one of which was GSK. During the course I found out about GSK’s Business and Technology Consulting Future Leaders Programme, which was looking for people to bridge the technical and commercial needs of the business, without needing a computer science background. That appealed to me as I wanted to see different parts of the business and learn about different aspects of technology in a large healthcare company.

During my year or so in GSK I learned a lot of seemingly obvious things that as a PhD student I hadn’t learned, such as what it’s like to work in a large open-plan office, and how to reply to emails in a business setting. It might sound silly, but these are habits and states of mind that are quite different between business and academia. For instance when you’re in academia there is less distinction between what is work and what isn’t, all the work is tied very closely to you, whether things move forward or not are frequently down to you to try pushing. Whereas in a large company everyone had an ascribed role, you are a part of a larger process, and it takes time to learn how to be part of that process. Naturally in my role as a Business Process Analyst I also learned a lot about the digital platform and how to be part of a team rolling out large scale programmes to a tight timeline.

However, at that point I realised I was again becoming a bit more specialised than I would have liked, and part of why I’d wanted to move away from academia was to try jobs that allowed a far broader view. So I started to look into other jobs, including consulting, and after going through rounds of applications again I fortunately ended up with three quite different job offers. Apart from consulting, one offer was in a smaller firm largely providing competitive intelligence services to pharma, which meant finding out information about the competition in a regulated way, while the other  involved internal risk auditing where I would have been part of a team visiting different parts of the business to assess how ready they were for different forms of risk. I went for IQVIA because it was the broadest and most commercial role, while I also had a good impression about the workplace, culture and opportunities to develop.

What does an average day look like?

In consulting, the “products” you deliver are the knowledge and recommendations present in your powerpoint slides, reports, spreadsheets and so on. Most of the time as an associate consultant I’m conducting primary or secondary research, creating project documents or helping to coordinate activities needed to deliver projects. The projects you have been assigned will define what the research part looks like, and these projects can last anything from a couple of weeks to 6-7 months. If you’ve got a project involving mostly qualitative research, say if a client wants to understand how payers in the NHS might think when faced with a certain drug’s performance data, then you might be on a phone call with an expert who used to make such decisions, interviewing them with a set of questions your team had devised. So these projects might involve more interviews, surveys,  transcription and analysis to understand what stories it presents. If you’re doing a more quantitative project, for example you may want to understand which regions in Italy we should focus on for a certain initiative, you might want some sort of quantitative data to collect and analyse, for example data on hospitals in the region. In those cases you’d be doing more analysis on Excel – nothing extremely technical – but the research you need to do for projects would depend on the questions posed. There are a broad range of other project types as well, such as organising and conducting workshops, expert panel discussions, mock negotiations and so on.

Generally speaking as a new joiner you would mostly be focusing on project delivery – conducting research and creating materials, for example – while a more experienced project manager will be the main point of contact with the client. Nonetheless, you are fully involved in contributing to the thinking and discussion on how the solutions eventually shape up, and you’ll often be on the client calls and have a chance to offer input. For some projects I have travelled to client offices to present, but so far I’m usually supporting on the phone when needed – this may vary between different projects and indeed between different companies.

What are the best bits?

The work is genuinely very interesting – if it weren’t an important problem for the client they would unlikely have paid for consultants to advise on it. I am happy that my role is focused on Life Science and Healthcare as that is where my interest lies, and within this industry there is still a huge variety in scopes of work, which consulting allows you to broadly explore. My colleagues are great, they come from varied backgrounds, are highly capable and most importantly are very lovely people. There are also very experienced principals whom you can learn a lot from. After a while you get used to switching between project teams, and it always makes for a very dynamic environment.

What are the worst bits?

Classically in consulting, schedules are less predictable as they depend on deadlines set by the client’s needs, and by how the research goes. In IQVIA we work on multiple projects at a time –  usually two, occasionally three – so sometimes it can get very busy if you happen to be on two projects with the same peak periods.

Saying that, from what I understand life sciences and healthcare-focused consulting generally offers more stable hours than some other forms of consulting. There’s also not a culture of showmanship in the sense where working longer is perceived more favourably – the main focus is to deliver project work on time and to a high quality. But because we often can’t fully predict when we will have to stay late, there needs to be some flexibility involved, though any challenges would be dealt with as a team. On the plus side, it also means that if you book time off way in advance it is most likely you can go as you are unlikely to have started a project yet, and your staffing can be built around those leave dates.

Do you need a PhD?

I think PhDs are undervalued. The technical expertise and in-depth knowledge doesn’t even cover half of what they can do, and PhDs often don’t realise how much more developed their PhD has made them in multiple ways. The classic selling points are that PhDs are analytical, they’ve been involved in problem-solving and can conduct research. Because of this most consultancies recognise the value of PhDs, and some consultancies, including IQVIA, accept PhDs  at a higher entry level that undergraduate or Masters students.

But I also think the softer skills developed in PhDs is important, and the challenge with most PhD students is being able to articulate this. For instance PhDs are incredibly resilient because research fails all the time, and you get used to failing and dealing with it. Consulting involves thoroughly addressing client questions, and sometimes these change quickly given new developments and you have to go back to the drawing board; PhDs will likely be able to deal with that situation.

One thing PhDs may struggle with if they enter consulting, and probably a lot of other non-academic workplaces, is the concept of things being “good enough”. There are more deadlines and more acute pressure to deliver, so you can’t be obsessed with doing everything absolutely perfectly, but rather learn to deliver projects that are of an excellent standard within the  limits set. It’s important to think about the big picture as well instead of getting bogged down in every detail, which can take time to adjust to.

What’s the progression like?

One of the good things about consulting is the clear frameworks for how consultants progress. Loosely speaking the more junior levels focus on project delivery and analysis, middle levels get involved with day-to-day project management of increasing complexity, while the more senior roles provide strategic leadership and advice. You are expected to progress within reasonable timeframes, with an industry average of around two years per level. If you demonstrate the qualities required consistently, there is little reason for you to be held back, so the progression opportunities are clear. In consulting in general there is a relatively high turnover of people who join for a few years and then move onto other roles. After being exposed to so many different projects, areas, and companies, part of the reason may be that you may hit upon an area that really appeals to you, and decide to focus on that as a next step.

What are your top tips for researchers wanting to get into this career?

Look at your CV as a character profile rather than a list of things you’ve done. The STAR [Situation Task Action Result] model is pretty useful, use it as a guide for each trait that you would like to tell an employer about. This involves not just describing what was actually done, but also the impact of your action, and what this shows about you.

It’s also useful to consider all the things you do as potential evidence of different abilities. There are no specific technical requirements for consulting, and there is a strong emphasis on transferable skills such as working in a team and being able to communicate effectively, which you can draw upon from any experiences that may be relevant. But because “anything goes” in a consulting CV, if justified, you need to be very clear about the profile you’re building up and what different items in your CV are meant to achieve in portraying your abilities. In other words, what does this item show about my abilities and are they combining to meet what the position is looking for?

As an example, I enjoy going to the theatre a lot and occasionally write assessments for shows, so I made the argument that writing these assessments requires conveying what was worthwhile in a show, without spoiling the plot, and this honed an ability to communicate opinions succinctly. So think about what your pursuits bring to your character, and you may be surprised how much can go in your consulting CV. On that note, it may be surprisingly useful in terms of supporting a future career to do stuff that you enjoy and that you find meaningful, instead of constantly tailoring what you do depending on what you think is “constructive”. So although to some degree you should cover the bases, you should also do what you enjoy, and figure out how to tell the story in the CV along the way.

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Tags: Careers case study , Consultancy , Health Sector , life science , life science careers , science careers

2 Responses to “A PhD’s experience in Life Science Consulting”

[…] down the line. This is exactly what a UCL grad-turned Life Sciences Consultant told us when we interviewed him a few months ago. He loves theatre, so he got involved in writing show reviews. When applying […]

[…] A PhD’s experience in Life Science Consulting […]

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