Black MBA - Spring 2008 - (Page 66)

CAREER Industry Focus NBMBAA’s Industry Expo is Coming AS PART OF the 30th Annual Conference and Exposition September 17-20 in Washington, D.C., the National Black MBA Association® is introducing its first annual Industry Expo. The Expo, which will have separate space on the Career Fair show floor, will feature four of the fastest growing industries for MBAs. Here’s a sneak peek at the industries showcased in this year’s expo: Biotechnology, Energy, Food and Beverage and Global Media and Entertainment. And look for more details about the Industry Expo at www.nbmbaa.org. Biotechnology Baby Boomer-driven Industry is Pretty Safe Bet By Marianne Kunkel THE BIOTECHNOLOGY INDUSTRY is perhaps more dependent on science than any other industry, and thus is always driven by the next “big discovery.” Once considered a rather lackluster industry, biotechnology is changing with the times; new technology and substantial increases in the geriatric population are making this field a serious career option for MBAs. The number of MBA hires in the biotechnology industry grows each year. In a 2003 report, 6 percent more MBA graduates at the University of Pennsylvania’s Wharton business school entered biotechnology, health care and pharmaceutical industries than in 1998. The Global Biotech Report of 2006 showed that, unlike the pharmaceutical industry, the world market for biotechnology drugs is growing, with revenues reaching $60 billion in 2005 and double-digit growth expected through 2010. Part of what makes the biotechnology field so enticing is its high starting salary. According to www.mbaauthority.com, compared to the $50,000+ starting salary in the health care industry, and the $75,000 starting salary at pharmaceutical companies, MBAs entering the biotechnology field can make as much as $150,000 in their first year. Biotechnology is not for everyone, but for those who wish to play a part in one of the world’s most important markets – medicine – it is a great fit. The industry is comprised of smart researchers who constantly create drugs to treat everything from psoriasis to cancer, and smart business people – managers, marketers, etc. – who work to ensure that these drugs receive attention. Because drugs are given patents upon their release to the public, they become less popular when their patents expire and generic substitutes flood the market. Thus, one of the industry’s biggest challenges is staying one step ahead of the drug market. Big U.S. biotechnology companies with large hiring trends include Genentech, Amgen, Biogen Idec, Gilead Sciences and Genzyme. Small biotechnology firms, which recruit less actively but are attracting more and more interest among MBAs, include Telik, Abgenix, Vertex, Tanox, Atherogenics and NPS Pharmaceuticals, to name a few. Internationally, economists predict that Germany will soon emerge as a global biotechnology leader. In 2000, Dietmar Hopp, founder of the Germany software company SAP, invested $15 million into launching the biotechnology company Cytonet, headquartered in Weinheim, Germany. In January 2007, Cytonet won the Innovation Prize of the Germany Economy. Hopp has invested $320 million in 15 other German biotechnology companies, with plans to build them into powerful world players. mba The Smaller, the Better You’ll be in the spotlight working at a smaller biotechnology firm. Keep an eye out for positions at these small companies: 1. Exelsis (San Francisco, Calif.) 2. Dendreon (Seattle, Wash.) 3. Transkaryotic Therapies (UK) 4. Medarex (Princeton, NJ) 5. Regeneron (Tarrytown, NY) 6. Incyte (Wilmington, Del.) 7. Adolor (Exton, Pa.) 8. Verenium (formerly Diversa) (San Diego, Calif.) 66 BlackMBA • Spring 2008 • www.nbmbaa.org http://www.nbmbaa.org http://www.nbmbaa.org

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Black MBA - Spring 2008 Passion, Purpose and Power Contents Web Browsing From the President & CEO Up Front Advertising for Change CEO to CEO: Straight Talk with Barbara L. Thomas and Renetta McCann The New Executive Search Wealth Building: A Head Start on Investing and Saving Young Continuing Education: Lifelong Learning is Easier than You Think Making Good: Catching up with some of NBMBAA’s 2007 Scholarship Winners On Campus: Universities Win Grants to Fight Poverty Public Service: Does Your MBA Fit in the Government Sector? Bridge Building: Make a Career of Giving Back Steady Speed: Kim Harris Jones Shares what Drives a Successful Auto Industry Career Financial Planning: A New Way to Work Your MBA Global Focus: Keeping up with the Competition Clock On the Move: Member News, Promotions and More Industry Focus: Biotechnology, Energy, Food & Beverage, Global Media and Entertainment Employer Profiles: Campbell Soup, FINRA Financial Finesse: Denise Hales Harrod and CompuCredit Advocate for the Financially Underserved Creating Lasting Change: GE Impacts Quality of Life in Africa William W. Wells Jr.: Finding Strength in Diversity Leaders of Tomorrow® Community Service Program: NBMBAA® and Wal-Mart Partner to Reward Students Who Give Back Reaching Out: NBMBAA® Chapters Give Back to Their Local Communities How To… Buy a Franchise: Understanding the Basics of Acquiring a Franchise After the Gridiron: Keith Sims – Dunkin’ Donuts Franchise Confidential: Paul Hubbard – Papa John’s pizza Strength Through Adversity: Bob and Hortense Bobbitt – McDonald’s On the Ground Floor: Valerie Daniels-Carter – Pizza Hut, Burger King, Auntie Anne’s Use Your Superstar Status: Black Entrepreneurs Break into Japanese Economy Marketing Maven: Odyssey Media Entrepreneur Linda Spradley Dunn Staying the Course: Black Marathoners Share Lessons from the Race Relationship Forum: Soul-Mate Strategies for the Career-Minded Vacations that Matter: Travel to Make a Difference Advertisers Index

Black MBA - Spring 2008

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