For the overwhelming majority of Ph.D. holders who do not become tenured professors, spending time as a postdoc comes at a hefty price. Compared with peers who started working outside academia immediately after earning their degrees, ex-postdocs make lower wages well into their careers, according to a study published today in Nature Biotechnology. On average, they give up about one-fifth of their earning potential in the first 15 years after finishing their doctorates—which, for those who end up in industry, amounts to $239,970.
More than 50% of executives who inherit a mess fail within their first 18 months on the job. To effectively lead a turnaround, resist the temptation to emotionally distance yourself and blame your predecessor. Moreover, minimize references to your past successes; while you should draw on what’s worked for you in the past, no one in a struggling organization likes to hear “This is how we did it at my old company.” You are part of this team now; embrace it. Doing so will help you manage the emotions of people who are probably worrying about keeping their jobs. To help keep their anxiety down, be transparent about how you’ll make changes to the organization and on what kind of timeline. But don’t be afraid to push back when they bring you data that seems skewed, or offer ideas that seem designed to showcase how valuable they are. You want to clean up the mess, not create another one.
Research shows that the stories we hear from others that highlight our unique contributions can help us find purpose in our relationships with our colleagues and our work. When someone mentions your work in an email and calls you “super-talented,” or talks about your unique strength of connecting with customers, you’re likely to feel like your work has meaning. So take advantage of the small opportunities to speak positively about your coworkers.
The one constant felt by leaders and entrepreneurs across the business landscape is that change is perpetually happening–and in most cases at an alarming rate.
New competitors, revolutionary scientific discoveries, breakthrough technologies, challenging regulations…the list goes on. And from recent events, even something as “trivial” as a video game like Pokémon Go can cause a ripple effect felt across multiple industries.
No industry is static, and many are driven by forces beyond them. To deal with change–whether it’s for obtaining a competitive advantage or just trying to survive–organizations around the globe can either create shifts in their strategies, their products, or their people.
When Ruth Atherton decided that she wanted to pursue a career in patent law after she finished her Ph.D. in cell and molecular biology, she knew she’d need to get a law degree to advance in her new career. But she had some hesitations about diving into law school full time. She wanted to get work experience right away to help confirm her career choice, and she was worried that being immersed in law school would disconnect her too much from the scientific world. She was also concerned about shouldering the hefty bill.