For some students, completing a PhD is enough to scratch the academic itch for a lifetime and inspire them to take their experience, skills, and knowledge into other professional areas. It is important to consider your options before applying to a PhD program. It also pays to be aware of hidden options, which can be revealed by considering how your freshly acquired transferable skills can be used to your advantage while applying for any senior or high-salary role within a company.
Outside academia, the institutions seeking highly qualified personnel include large multinational companies, regulatory agencies, local and national government, NGOs and the public sector. To optimise your chances of professional success after gaining your doctoral title, it is crucial not to solely rely on your title; you must also be willing to network, reflect on your skills and experience to make the best career moves, and be prepared to relocate, where possible
1. Research and Development Roles
Many industry-focused companies have research and development teams where products are innovated and developed, and practical solutions are found to problems. Depending on your experience, skills, and interests, you can easily move into research and development roles in pharma, tech, finance, insurance, and telecommunications companies. In 2022, the UK government pledged to invest £39.8 billion in research and development by 2025; this pledge is key to restoring economic growth in the UK; there has never been a better time to get into the sector.
2. Not-for-Profit Consultancy Roles
In the UK, there are several not-for-profit research organisations which act independently from the government and universities. Typically, these organisations will headhunt consultants and researchers who can improve and develop programs. There are plenty of organisations which offer charity graduate schemes and internships, many of which are entry-level roles. While over half of non-profit jobs are in the healthcare sector, there are plenty of high-paying roles in STEM and life science too!
3. Self-Employment & Entrepreneurship
f your PhD program enabled you to work on an innovative product or idea, after you have submitted your thesis, you will be free to market it. The 9 – 5 employment route isn’t for everyone; if you have the acumen to become an entrepreneur, you can join the self-employed labour force, which accounts for 15% of the working population. In recent years, there has been an exponential increase in digital entrepreneurship careers, which allow people to work from the comfort of their homes and strike a better work/life balance.
Similarly, some PhD students decide to do consultancy work on a self-employed or freelance basis, while others set up different forms of small businesses – the options for self-employed PhD students are almost endless.