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Research Analyst - Can anyone pls explain?

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Research Analyst - Can anyone pls explain?

Postby Neil Clark » Thu Jan 19, 2017 10:05 am

Hello folks,

I interrupted my PhD (Neuroscience, Genetics) at thesis writing stage. I am trying to broaden my job search in the careers away from the lab bench. I came across the following advertisement. Can anyone explain what does this job involve? The description isn't very clear to me.

**
Research Analyst is a position for candidates with a Bachelor’s degree in a science or engineering field who are interested in gaining intensive exposure to the pharmaceutical and consulting industries. Our Research Analysts fully support the consulting staff on projects across all therapeutic categories, providing the staff with broad experience in a wide range of indications. Initial responsibilities include performing the secondary research and data analyses that provide the foundation for our commercial assessment, search, and strategy projects. Specific tasks include drug pipeline and clinical trial analyses, indication or company profiling, deal and trend analyses, and literature searches to support findings from the primary research.

Ideal candidates will have a BS in biological sciences with a minor in a quantitative field, excellent oral and written presentation skills, and demonstrated analytical thinking, business acumen, initiative, and an ability to successfully handle multiple responsibilities in prior work and academic situations. For the successful candidate, responsibilities will rapidly expand to include primary research, forecasting, and client-facing presentations.
**

Although the job advertisement asks for BS in biological science, written and oral presentation skills, what other skills the applicant may require to do the job efficiently?

Many thanks in advance.
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Re: Research Analyst - Can anyone pls explain?

Postby J.B. » Thu Jan 19, 2017 1:28 pm

I've seen positions like this before, although not at a Bachelor's level. Research analysts are employed by VCs to evaluate/vet different companies' technologies/ideas to see if they're worth investing in. It typically requires deep technical knowledge, most of the positions I've seen require a PhD.
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Re: Research Analyst - Can anyone pls explain?

Postby Katherine Lee » Thu Jan 19, 2017 6:04 pm

I wouldn't say this is necessarily VC (venture capital), but is probably a broad consultancy for biotechnology companies, hedge funds, banks, VCs, etc. Typically these jobs call for PhDs, largely because there's enough PhDs out there to do these types of jobs - not because only PhDs are intellectually capable of doing the job.

It's possible this particular job is one position level below where they'd bring a PhD level person in: an "Analyst" position, instead of "Associate", so it's possible in this role you would be directly supporting a PhD/"Associate" level individual. You'd be expected to do exactly as the job listing says, but be a quick learner capable of picking up the stuff the PhD/associates are doing. With all these types of jobs, with the right drive and ability to quickly learn ANYONE could do it whether they have a biology B.S., PhD or NO biology background.
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Re: Research Analyst - Can anyone pls explain?

Postby D.X. » Fri Jan 20, 2017 3:27 am

Neil Clark wrote:Hello folks,

I interrupted my PhD (Neuroscience, Genetics) at thesis writing stage. I am trying to broaden my job search in the careers away from the lab bench. I came across the following advertisement. Can anyone explain what does this job involve? The description isn't very clear to me.

**
Research Analyst is a position for candidates with a Bachelor’s degree in a science or engineering field who are interested in gaining intensive exposure to the pharmaceutical and consulting industries. Our Research Analysts fully support the consulting staff on projects across all therapeutic categories, providing the staff with broad experience in a wide range of indications. Initial responsibilities include performing the secondary research and data analyses that provide the foundation for our commercial assessment, search, and strategy projects. Specific tasks include drug pipeline and clinical trial analyses, indication or company profiling, deal and trend analyses, and literature searches to support findings from the primary research.

Ideal candidates will have a BS in biological sciences with a minor in a quantitative field, excellent oral and written presentation skills, and demonstrated analytical thinking, business acumen, initiative, and an ability to successfully handle multiple responsibilities in prior work and academic situations. For the successful candidate, responsibilities will rapidly expand to include primary research, forecasting, and client-facing presentations.
**

Although the job advertisement asks for BS in biological science, written and oral presentation skills, what other skills the applicant may require to do the job efficiently?

Many thanks in advance.


HI to answer your question in more Detail about the Job and skills.

First consider that you'll be doing alot of grunt work, so alot of Desktop Research. In the Job description you see in Addition to the BS, there is an ask for a minor in a quantitative field.

Basically, you'll be sifting through alot of Excel file data to generate Analysis to Support a commerical assessment. For example, in Terms of secondary market Research (high quantitative analytics), some of that data will include IMS precription data where you'll have a massive data base that includes in-market pricing, volumes, as defined by a number of criteria and you'll have to sift through that to get to some analytics to define market share or historical peformance, get use to Terms like CAGR etc. You'll get a Picture of the market from there, figuratively and literally that means you'll make nice Graphs in Excel after you've analyzed the data and inport that into a nice PPT where you'll spend a heck of alot more time making it look nice visually constrast to Content..ahem. (ok that last Statement is for Insiders on the Forum who've worked in a consulting firm).

Qualitively, buidling on data you'll get from Primary market Research conducted by othres (so interviews or Surveys) you'll Need to sift through the clinical data, scientific publication to get an idea on elements such as market size, clinical practice, unmet Need, to link into a commericial opportunity - you'll Need to look at other companies to understand emerging competitors as relevant or even other opporutunities for Investment. So you'll make a qualitative map to undersand and valide findings from you quantitative Analysis or visa-versa to build a Story.

So that being said, ensure you're up to Speed with Excel sufficiently, don't worry in the Job you'll become an Excel master by Crash and burn learning, and Power Point. YOu'll also become a master of technical use of PPT by Crash and burn learning. Have good critical thinking to potentialy understand where the gaps in the data are and where else you can dig. Have good presentation skills, this you will learn on the Job with Coaching - they will teach you this as Client facing reserved for those who have been trained and where Management feels comfortable.

Collaborative personality, willing to work Long hours, and spending alot of time in front of a Computer doing grunt work (Excel, PPT mostly).

But dont take that negatively, we all Need to start someplace and pay the dues, haveing a Forward looking view on career, your expereince in such role can take you within the Company up, or you can go out and join businiess analystics, market Research, or market insights Groups within Pharma or within a host of different companies that provide These Services to Pharma or Med device etc. Or even ..depending on how you develop yourself, pricing and market Access Groups.
Good luck!

DX
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Re: Research Analyst - Can anyone pls explain?

Postby Dave Jensen » Sat Jan 21, 2017 11:37 am

Even recruiting firms hire research analysts. In fact, the "associate" is usually the way that firms hire and evaluate someone who will eventually become a headhunter for the firm. The job of the research analyst is to go over the myriad details about a position, dissect the list of a half-dozen must have's and then go into the market and identify prospects who need to be contacted by the senior staff. It's a fun job, in my opinion. You're not on the firing line for the actual performance of the search (it's the Principal Recruiter or Partner who gets all the flack if the search isn't going well . . . but, it's also that person who gets the glory when someone you first identified is hired and the search completes.)

LinkedIn has many permutations that are not seen by the average viewer of the site, under the LinkedIn Recruiter or Recruiter Lite banner, and the Research Analyst uses that site and many, many others to build that search's list of contacts. The average project doesn't start until that researcher has identified 120-150 contacts -- this takes three or four days or the first week, and then the Analyst moves to another project, coming back occasionally to refill the pipeline with fresh contact details for the Principal. Meeting attendance lists, speakers at events, biosketches searched via Google, and the search firm's own proprietary database, are all the daily source materials used by this level of staff in recruitment firms. Once a person has learned this skill, they can go on to a rather nice consulting job where their compensation is on an hourly rate of $90 - $120 an hour, or more, and they may work for a dozen different search firms as a contractor when needed. There's a nice training program available for this niche at an organization called The Sourcing Institute, https://www.thesourcinginstitute.com.

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