The Biotech Boom - What's All the Fuss about Anyway?

In part, biotech is booming because it captures our imaginations: who doesn't want to see nerve regeneration technology allow victims of spinal cord injury to walk again? Who doesn't feel excited imagining nutritional enhancements to crops like rice that will help people avoid vitamin deficiency-related diseases?

The Biotech sector is also thriving because it holds the promise of financial rewards. Because many biotechnology companies are just developing, their potential for profit on biotechnological innovations has investors everywhere looking to buy in.

Biotech Jobs: What's Out There?

Splicing genes, engineering super-foods, or developing sophisticated medical technologies are some of the growing opportunities in this field. Scientists with Ph.D.'s dominate biotech, holding most of the key research positions and many of the key management positions within both private biotech companies and government and university-based research labs.

While the number of positions for researchers continues to grow all the time, heavy competition for research grants translates to heavy competition for advanced research positions according to the Bureau of Labor Statistics (BLS).

On the other hand, the BLS reports that the job outlook for individuals with biological sciences training, but not necessarily a Ph.D. is, in fact, expected to be better than for doctorate degree holders thanks to strong growth in areas like biotech sales, marketing, and research management. Positions as research assistants and lab technicians are also widely available without a Ph.D.

While the salaries of researchers and others in the biotech field vary a great deal, the median salary for research biochemists and biophysicists was $64,390 in 2002, and the BLS also notes that salaries upwards of $100,000 are not uncommon.

Biotech Education: What Degrees Will do the Trick?

Degrees that can qualify you for positions within the biotech sector come under a range of titles: Bioengineering, Health/Science Technology, Medical Engineering and Medical Physics, Biology, Biophysics, and Biochemistry to name just a few. A bachelor-level campus or online degree in one of these science fields will open basic opportunities in the biotech sector to you. More advanced research or managerial positions, however, require at least a master's degree, and Ph.D.'s are widespread among biotech's industry leaders.

Because biotechnology research holds so much promise and is so closely related to common science fields like biology, chemistry, and physics, degree programs that can prepare you for work in the biotech sector are offered by schools around the country. Top programs can be hard to get into, but the rewards can make throwing yourself into the competition well worth it.

The science of biotech is fascinating, but the fact that advancements in biotechnology can improve the lives of people everywhere is another important part of what draws many scientists to the field. Take Benjamin Teply, for example. He graduated from Harvard with a bachelor's degree in Chemistry and Physics and then went on to earn a master's degree in bioengineering from the University of Michigan.

Teply currently works conducting pre-clinical research on cancer drugs. Like anyone who pursues a research career, he's "into science," but he'll also eagerly tell you how exciting it is "to work on something that you know could be really useful someday."

Biotechnology is all about bridging the gap between esoteric science and practical application. Pursue a degree in a field like bioengineering, biology, or health/science technology, and you'll be preparing yourself for a career that's rewarding for you and for everyone else too.