WE ARE GOING TO START ON TIME BECAUSE WE ARE WATCHING BY VIDEO CAST TODAY. SO WE ARE GOING TO START ON TIME. WE HAVE A TON OF MATERIAL TO COVER BETWEEN BRAD AND MYSELF. BRA LEAD COVER THE FRONT END OF THE TALK TODAY. THE OVERVIEW OF INDUSTRY. BRAD, WHO IS A NEW CONSULTANT WITHIN THE OITE, HAS OVER 20 YEARS EXPERIENCE IN INDUSTRY AND ALL KINDS OF COMPANIES FROM NO VARTIS TO SMALL START UPS TO THOSE SOLD OFF TO A NEW START UP. HE HAS A BROAD REACH OF EXPERIENCE. HE IS GOING TO TALK TO ABOUT AN OVERSHOE OF INDUSTRY AND THEN MOVE FORWARD HOW THE ECONOMY HIT PHARMA AND BIOTECH AND WHEN IT WILL GO. AND THE SECOND HALF OF THE TALK, I'M GOING COME THROUGH AND HELP YOU WITH RESUMES. WE ARE GOING TO TALK ABOUT HOW TO BUILD A RESUME FOR NONACADEMIC TYPE OF JOB. WE WILL HAVE BEEN ABOUT COVER LETTERS AND THINK ABOUT HOW TO POSITION YOURSELF SO YOU AT LEAST GET AN INTERVIEW. WE ALSO WANT TO INTRODUCE MICHAEL WHO IS HERE AS WELL AND I'M SURE BRAD WILL DO A LITTLE BIT MORE INTRODUCTION THERE ABOUT WORK THAT HE IS DOING WITH US AS WELL TO HELP YOU GUYS MAKE SURE THAT YOU CAN HAVE JOBS IN INDUSTRY ONCE YOU FINISH HERE. THIS IS OUR FIRST SESSION IN THE NEW INDUSTRY CAT STRACK THAT WE HAVE. CAREER ADVANCEMENT TOOL KIT. TODAY THE OVERVIEW OF THE OPPORTUNITIES IN INDUSTRY. ON MARCH 4, WHICH IS A MONDAY, WE WILL BE INTERVIEWING IN INDUSTRY. WE WILL BRING THREE PEOPLE TO COME AND TALK ABOUT WHAT THEY ARE LOOKING FOR IN CANDIDATES. MICHAEL WILL COME AND TALK ABOUT WHAT HE IS LOOKING FOR. WE'LL HAVE A HIRING MANAGER AND SOMEBODY FROM HR AND THEN WE'LL PRACTICE. WE WILL WRAP UP THIS PARTICULAR SERIES IN APRIL ON APRIL 1, NICE GOOD APRIL FOOL'S DAY JOKE FOR EVERYONE THAT WILL BE NEGOTIATING YOUR OFFER AND MAKING A TRANSITION. HOUR DO YOU MAKE THE MOST MONEY? HOW DO YOU MAKE THAT TRANSFRIGS GOING FROM THE NIH TO A NEW ENTITY? ON FEBRUARY 11, I THINK IT'S IN THIS ROOM, SO COM IS HOSTING A CAREER EXPLORATION PANEL OF PEOPLE FROM INDUSTRY. THEY HAVE PEOPLE FROM SIGMA AND METAMUNE ET CETERA TO TALK ABOUT HOW THEY GOT THEIR JOBS. THAT WILL BE VIDEO CAST ON FEBRUARY 11ATICALLY:00 AND IT WILL BE -- AT 3:00. IT WILL BE FOLLOWED BY A SOCIAL NETWORKING EVENT DOWNTOWN IN BETHESDA. LAST THING I WANT TO REMIND YOU ABOUT, OUR BLOG. OITE HAS A BLOG N THIS WEEK'S BLOG, IT'S ABOUT RESUMES AND MAKING SURE YOUR RESUMES ARE UP FOR RESULTS. JOIN THE CONVERSATION ONLINE AT OITE GLEE BLOG@WORDPRESS.COM. HOW WOULD YOU DEVELOP NEW BULLET POINTS? SO JOIN THE CONVERSATION ON OUR BLOG. I'M GOING INTRODUCE BRAD AND BRAD IS GOING TO TAKE OFF FOR THE FIRST HALF OF OUR TALK. >> THANK YOU, LORI. I'M THE NEW KID IN THE DEPARTMENT AND MY ROLE IS GOING TO BE IN HELPING PEOPLE MAKE THAT TRANSITION INTROINDUSTRY. WORKING WITH PEOPLE WHO ARE VERY EARLY IN THAT DECISION PROCESS, HELPING YOU THROUGH THAT DECISION AS WELL AS THOSE WHO MAY HAVE ALREADY MADE THAT DECISION AND HELPING YOU WITH THE PROCESS OF HOW DO YOU MAKE THAT TRANSITION? I'D LIKE TO LOOK AT THE AUDIENCE AND GET A SENSE FOR WHY YOU ARE HERE. I ALREADY THOUGHT ABOUT MAKING THAT TRANSITION. CAN I SEE A SHOW OF HANDS? THERE IS A FAIR AMOUNT OF YOU. THE NEXT IS, I'M APPROACHING A TRANSITION AND I WANT TO LOOK AT SOME OTHER OPTIONS. OKAY. I LIKE ACADEMIA BUT MAYBE THERE IS SOMETHING ELSE OUT THERE FOR ME. AND HOW ABOUT I GOT A COUPLE OF HOURS TO KILL THIS AFTERNOON SO I THOUGHT I'D STOP IN? OKAY, GOOD. WE ARE ALL THERE FOR YOU. AND HOPEFULLY WILL YOU GET SOMETHING OUT OF THIS. TODAY WE WILL LOOK TAT THIS WAY. LET'S TALK ABOUT WHAT INDUSTRY IS. THE REASON I START THERE IS BECAUSE IN MY VAST EXPERIENCE HERE AT NIH, ABOUT SIX WEEKS, I HAVE FOUND THAT WHEN I TALK TO PEOPLE THEY SAY, WHEN I SAY, WHAT IS INDUSTRY? THEY SAY PFIZER. THAT IS TRUE, BUT, BUT THERE IS MORE OUT THERE. WE ALSO WANT TO LOOK AT TRENDS IN ACADEMIA AND HOW THEY MAY BE PLAYING INTO EACH OTHER. AND THEN WE'LL LOOK AT THE INDUSTRY AND WHERE IT COME OVER THE LAST SIX-EIGHT YEARS. YOU CAN'T HELP BUT READ THE PAPERS SAY, I DON'T KNOW. THIS MAY BE OR MY NOT BE SOMETHING I WANT TO DO. HOPEFULLY WE CAN PUT THAT INTO PERSPECTIVE. AND THEN WE'LL LOOK AT, BESIDES WHERE IT HAS BEEN AND WHERE IT IS GOING, WHAT IS LIKELY TO HAPPEN OVER THE NEXT 4-5 YEARS? AND TRANSLATE THAT INTO WHERE ARE THE JOBS LIKELY GOING TO BE? IF YOU'RE GOING TO BE LOOKING FOR A JOB IN INDUSTRY, MAYBE WE CAN KIND OF CUT DOWN THE NUMBER OF OPTIONS FROM LIKE THIS TO POINT YOU IN A MORE STRAIGHTFORWARD DIRECTION. AND THEN, I'LL TURN IT BACK OVER TO LORI, WHICH IS HOW DO I GET STARTED? AND WE'LL TALK AND HELP YOU THROUGH HOW DO YOU CREATE THAT RESUME. AND THE INDUSTRY RESUME IS DIFFERENT FROM THAT OF WHAT YOU MAY BE USED TO. INDUSTRY IS MORE THAN PFIZER T IS PHARMA AND BIOTECH AND THEN THERE IS THE GENERIC AND BRANDED AND BIOSIMILARS AND THEN THE BIODEFENSE GROUPS. BEYOND THAT THERE IS THE MEDICAL DEVICE AND IT'S THE DIAGNOSTIC, BIOMARKERS, AS WELL AS THE DEVELOPERS, THE, SERVICE PROVIDERS, CROs BUT BASICALLY THERE ARE CONTRACT ORGANIZATIONS TO DO EVERYTHING THAT PHARMA THAT IS DONE WITHIN PHARMA AND SOME OF THESE OTHER COMPANIES CONSUMABLE COMPANIES, WHO MAKES YOUR LAB EQUIPMENT AND REAGENTS AND OTHER THINGS. AND THEN NEW -- AND I SHOULDN'T SAY NEW, BUT REALLY LOOKING MORE FROM A MEDICAL PERSPECTIVE WILL BE THE INSURERS AND THE PAYORS. THERE ARE SOME VERY SPECIFIC ELEMENTS OF THE AFFORDABLE CARE ACT GOING FORWARD MEANING THERE WILL BE COMPETITIVE ADVANTAGE AMONG INSURERS WHO CAN FIGURE OUT THE ALGORITHMS OF PAYMENT AND THEY WILL NEED VERY SMART SCIENTIFIC BRAINS TO HELP THEM MAKE THOSE DECISIONS. VENTURE CAPITOL AND BANKING. PHARMA AND BIOTECH AND MEDICAL DEVICES HAVE Ph.D.s, MDs, MD-Ph.D.s ON THEIR STAFF TO EVALUATE THESE TECHNOLOGIES. LET'S LOOK AT THE BUSINESS OF HEALTH CARE. IT IS 1.4 TRILLION DOLLARS IN ANNUAL REVENUES LED BY THE PHARMA AND THESE ARE GLOBAL FIGURES B800 BILLION DOLLARS IN SALES. BIOTECH AND MEDICAL DEVICE AND LIFE SCIENCES AND TOOLS AND REAGENTS 42 BILLION AND CROs ANOTHER ALMOST 25 BILLION DOLLARS. WHEN YOU SEE BY MARKET, HERE IS YOUR 800 BILLION DOLLARS AND YOU SEE HOW THAT IS BROKEN DOWN. THE LION'S SHARE IS HERE IN THE U.S. FOLLOWED BY EUROPE, AFRICA, ASIA, AUSTRALIA, JAPAN AND LATIN AMERICA. HOWEVER, WHEN WE TALK ABOUT CHANGE IN THIS INDUSTRY, THIS IS THE FIRST WORD YOU SEE. YOU SEE THE GROWTH AREAS ARE IN ASIA AND LATIN AMERICA. THIS WILL BE DRIVING CAREER OPPORTUNITIES AS MORE OF THE INDUSTRY IS SHIFTING TO THESE MARKETS AND SHIFTING AWAY FROM THE LOWER GROWTH AREAS. WE HAVE LISTED THE TOP 10 PHARMA. THAT TOTALED ABOUT $70 BILLION A YEAR SPENT IN R&D AND YOU SEE THE TOTAL INDUSTRY, AND THIS IS 2011 FIGURE, SO ABOUT $135 BILLION. THE TOP 10, A LITTLE OVER 52% OF THAT TOTAL. BIOTECH, ANOTHER $10 BILLION AND IN GENERAL, WHAT YOU SEE IS LOWER R&D EXPENDITURES WITHIN THE BIOTECH SPACE. BUT HIGHER PER SENTAGES OF REVENUES. THESE TEND TO BE SMALLER COMPANIES BUT STILL HAVE A BIG FOCUS ON R&D AND YOU CAN SEE SOME OF THOSE LIKE OVER 100% OF REVENUES IN R&D. AND THEN IN MEDICAL DEVICE, 20 BILLION AS WELL. IF YOU APPLY THE SAME PERCENTAGE THAT IS IN PHARMA, SO THAT 50% OR SO, THAT IS ABOUT $200 BILLION SPENT EACH YEAR ON R&D. THAT FIGURE IS SECOND ONLY TO THE ELECTRONICS IN TERMS OF HOW MUCH IS SPENT. SO FROM A CAREER PERSPECTIVE, FOLLOW THE MONEY. EMPLOYMENT, HERE YOU CAN SEE HOW THAT BREAKS DOWN ACROSS THE VARIOUS MARKETS. ALMOST 3 MILLION PEOPLE WORK IN THIS INDUSTRY. AND IF YOU THINK ABOUT THAT, THAT IS SOMEWHERE JUST UNDER 5% OF THE WORLD'S POPULATION THAT WORKS IN THIS INDUSTRY. AND MY ESTIMATE HERE IS ABOUT 30-40% OF THOSE JOBS IN THE PHARMA INDUSTRY IS IN R&D. I HAVEN'T SOURCED THAT BECAUSE THAT COMES A VARIOUS PUBLICATIONS AND THERE ISN'T REALLY ANY ONE PUBLICATION THAT LOOKS AT THAT ACROSS THE GLOBE. WHEN I STARTED LOOKING AT THIS AND DOING THE RESEARCH FOR THIS PRESENTATION, I STARTED TO LOOK AT, WHAT IS GOING ON IN ACADEMIA AS WELL. AND I WAS STRUCK BY THE ARTICLES THAT I'M SEEING, WHICH IS PROBABLY WHY YOU MAY KNOW SITTING IN THIS ROOM TODAY. AND THERE ARE A LOT OF THESE ARTICLES AND EVEN BROADCASTS THAT SAY, WE MAY BE OR QUESTIONING ARE WE PRODUCING TOO MANY Ph.D.s? SO, I THOUGHT WE WOULD TAKE A LOOK AT THAT. WHEN WE LOOK AT THAT ACROSS, AND THIS IS U.S. Ph.D. IN THE SCIENCES. YOU CAN SEE THAT TRENDING UPWARD. YOU PROBABLY -- I'M NOT TELLING YOU ANYTHING. THIS IS PROBABLY MORE NEWS TO ME THAN IT IS TO YOU. AND THIS ISN'T A PROBLEM THAT IS UNIQUE TO THE U.S. THIS IS APPARENTLY ACROSS THE GLOBE AS WELL AS YOU LOOK AT THE DIFFERENT MARKETS AND LOOK AT THE PER SENT INCREASE IN THE DOCTORATES ISSUED. AND WHEN YOU SEE THIS, IT'S WHAT TELLS US THE PROBLEM TENDS TO BE N1973, ABOUT 55% OF THOSE WITH A SCIENTIFIC Ph.D. WERE IN AN ACADEMIC TENURED TRACK POSITION OR TENURED TRACK CAREER. IN 2008 -- SORRY. TOO FAST. IN 2008, THAT'S 14%. SO, WHETHER MANY OF YOU ARE ACTIVELY LOOKING IN INDUSTRY FOR A JOB, OVER TIME, IT IS LIKELY THAT MANY OF YOU, MANY MORE OF YOU WILL BE. AND THESE TWO ACADEMICS AND INDUSTRY DON'T EXIST IN VACUUMS. THEY ARE ACTUALLY VERY CLOSELY RELATED. AND SO IN MY VERY CUTESY DO I GRAM HERE, I HAVE TAKE 10 BACK TO THE GOOD OLE' DAYS, I DON'T WHEN THAT IS, BUT IT'S BEFORE A WHILE AGO. AND THE WAY RESEARCH WAS CONDUCTED WAS, MOST OF IT, IF NOT ALL OF IT, WAS FUNDED BY THE GOVERNMENT. THE COMPOUNDS WERE DISCOVERED AND DEVELOPMENT BEGAN, AND THEN THE PHARMA INDUSTRY TOOK THEM OVER. WHAT WE HAD A FINANCIAL DOWNTURN IN THE LATE 80s AND THE GOVERNMENT SAID, WE CAN'T AFFORD TO SPEND ALL THIS MONEY ON SCIENTIFIC RESEARCH. SO THEY CUT BACK. BUT THE GOOD NEWS WAS THAT THE PHARMA INDUSTRY WAS THERE AND PICKED UP A LOT OF THE FUNDING THAT WAS MISSING FROM THE GOVERNMENT. AND SO, THROUGHOUT THE 90s, THERE WAS A LOT OF FUNDING PROVIDED BY PHARMA AND THEN THE COMPOUNDS WHICH WERE DISCOVERED, CAME BACK THROUGH VARIOUS ARRANGEMENTS. HOWEVER, WE TENDED TO RUN INTO SOME ETHICAL ISSUES WITH THAT. THE PHARMA INDUSTRY SAID IF WE ARE SPENDING MONEY ON THE RESEARCH WE WANT TO BE GUARANTEED THAT OUR PRODUCTS WILL BE BETTER THAN ANYTHING ELSE. SO WE RAN INTO SOME PROBLEMS. YOU DON'T HAVE TO LOOK TOO FAR. PRODUCTS LIKE VIOXX, WHERE ACTUALLY THE RESULTS WERE EITHER NOT REPORTED OR REPORTED INCORRECTLY THAT LED TO SOME ISSUES. SO WE BEGAN TO SAY, NO, THIS FUNDING BY PHARMA ISN'T GOING TO WORK SO WELL. FORTUNATELY, AS WE GET TO THE TWO THOUSANDS, WE HAD VENTURE MONEY THAT WAS FLUSH FROM THE TECH BUBBLE IN THE LATE 90s AND EARLY TWO THOUSANDS, THAT HAD PLENTY OF CASH OUT THERE AND THEY WERE ABLE TO PICK UP THAT FUNDING AND MOVE THAT AND TO PICK UP WHERE THE PHARMA FUNDING WAS. AND AGAIN, THE COMPOUNDS GO TO THE INDUSTRY. SO GOING FORWARD, WE THROW UP OUR HANDS. WE DON'T KNOW. THIS IS GOING TO BE ONE OF THE KEY AREAS THAT WE HAVE TO FIGURE OUT. ONE OF THE THINGS THAT I NOTICED IN THE PAST, THIS TENDED TO BE A PRETTY EFFICIENT SYSTEM, IN THAT THE GOOD COMPOUNDS, THE CREAM, SO TO SPEAK, CAME TO THE TOP AND GOT FUNDED AND THE LESSER PRODUCTS HAD DIFFICULTY OR THEY WERE NOT ABLE TO GET FUNDED. SINCE 2007, VERY FEW FUNDING OR VERY LITTLE FUNDING HAS TAKEN PLACE THIS. SO I THINK THERE IS A GLUT OF GOOD COMPOUNDS AND GOOD CHEMICALS, GOOD TECHNOLOGIES THAT IS THERE THAT IS LOOKING FOR FUNDING AND WE NEED A WAY TO FIGURE THIS OUT. AND WE CAN'T RELY ON INDUSTRY TO DO THE BASIC DISCOVERY. IN 2010, J.P. MORGAN SAID, PHARMACEUTICAL INDUSTRIES SHOULD GET OUT OF THE DISCOVERY BUSINESS. THE REASON IS, AND I'LL SHOW YOU THIS LATER, THEY CREATED SUCH LARGE IN FROM STRUCTURES IN PARTICULARLY --FRAIN STRUCTURES, THAT IS DIFFICULT FOR THEM TO DISCOVER COMPOUNDS IN AN EFFICIENT MANNER. SO, LET'S TALK ABOUT WHAT HAPPENED IN 2007 AND 2012. IS THIS A SLASH-AND-BURN AS IT WAS DESCRIBED IN ONE SEMINAR I ATTENDED? OR IS IT JUST A CORRECTION? WE'LL LOOK AT THIS. SINCE 2007, A HALF MILLION JOBS HAVE BEEN LOST IN PHARMACEUTICALS AND BIOTECH INDUSTRY. NOW THAT'S A GLOBAL FIGURE BUT THAT NUMBER APPROXIMATELY TWICE THE NUMBER OF JOBS THAT WERE LOST IN THE U.S. AUTOMOBILE INDUSTRY. AND I DON'T KNOW IF I MISSED THE ARTICLE IN THE PAPER BUT I DIDN'T SEE ANYTHING ABOUT A PHARMA BAILOUT. AND UNLIKE IN THE PAST, WHERE THERE HAS BEEN CONSOLIDATION IN THE INDUSTRY THAT HAS BEEN MAINLY IN THE BUSINESS FUNCTIONS, SALES, MARKETING AND SOME OF THOSE KINDS OF FUNCTIONS, THIS ONE WENT ACROSS-THE-BOARD IMPACTING R&D. SO IN ORDER TO GET A SENSE OF WHY THIS HAPPENED, I THINK I WANT TO START AND GO WAY BACK TO THE 1980s AND LOOK AT THE MARKETPLACE OF THE 1980s. AND IN THERE FROM A PHARMACEUTICAL MARKET PERSPECTIVE, IT WAS A KINDER AND GENTLER PLACE. WHAT YOU SEE IS THAT THE PATIENT WOULD GET SICK AND HE WOULD GO TO THE PHYSICIAN WHO WOULD WRITE A PRESCRIPTION IN THE PHARMACY THAT WAS GIVEN TO THE PATIENT AND THE INSURANCE PAID FOR IT. VERY, VERY NICE. NOW, HOW MANY THINK THAT STILL GOES ON TODAY? IT DOESN'T GO ON TODAY. IT LOOKS LIKE THIS. AND THERE HAVE BEEN A NUMBER OF BARRIERS AT EACH STAGE OF THAT BETWEEN PATIENT AND PHYSICIAN AND BETWEEN THE PHYSICIAN AND THE PATIENT. AND BETWEEN THE PAYOR AND THE PATIENT. SO, FOR EXAMPLE, LAST NOVEMBER, MY WIFE AND I GOT A LETTER FROM OUR INSURANCE COMPANY UNITED HEALTH CARE, THAT SAID, WE HAVE BEEN UNABLE TO COME TO AN AGREEMENT WITH YOUR PHYSICIAN GROUP AND SO, THEREFORE THE PHYSICIANS THAT WE HAVE BEEN SEEING SINCE WOE MOVED TO THE AREA, ARE NO LONGER COVERED BY OUR PLAN. HERE IS YOUR OPTIONS. YOU CAN FIND ANOTHER PRESCRIPTION OR ANOTHER PHYSICIAN OR YOU CAN PAY FOR THESE VISITS ON YOUR OWN. AND THEN WE GOT A NICE LETTER THAT WENT INTO, HOW CONCERNED THEY WERE WITH OUR HEALTH. BUT JUST NOT QUITE AS CONCERNED WITH OUR HEALTH AS THEY WERE THEIR PROFITABILITY. BUT I THINK THAT IS A GOOD EXAMPLE. PHYSICIANS, THERE ARE FORM LAYEREES PROVIDED BY THE INSURANCE PROVIDER OF PRODUCTS THAT ARE PREFERRED AND THAT THEY CAN AND CAN'T USE. SO YOU MAY PAY ONE PRICE FOR A BRANDED PRODUCT AND A LESSER PRICE FOR GENERIC OR THEY MAY NOT EVEN COVER CERTAIN PRODUCTS. BUT THE ISSUE HERE IS, THAT THE MARKETPLACE TODAY IS A WHOLE LOT DIFFERENT THAN IT WAS IN THE 1980s. HOWEVER, THE STRATEGIES THAT WERE BEING USED IN THE PHARMACEUTICAL INDUSTRY AND IN THE MEDICAL INDUSTRY IN GENERAL, WERE PRETTY MUCH THE SAME. THEY DEVELOPED AND MARKETED THEIR COMPOUNDS PRETTY MUCH THE WAY THEY DID IN THE 1980s. SO, THAT LED US TO SOME ISSUES. SO, BEFORE WE GET THERE, LET'S LOOK AT WHAT THOSE STRATEGIES WERE. THE FIRST ONE IS, BUILD BLOCKBUSTER PRODUCTS. PRODUCTS THAT SELL MORE THAN A BILLION DOLLARS ANNUALLY. NOW THE PHILOSOPHY ON THIS WAS VERY SOUND AND THIS IS THE PFIZER PHILOSOPHY, BY THE WAY. THEY WENT AND BEGINNING IN THE LATE 70s, THEY BEGAN TELLING THEIR SHAREHOLDERS THAT HERE IS WHAT WE ARE GOING TO DO. WE ARE GOING TO ACQUIRE OR DEVELOP COMPOUNDS THAT ARE THE LEADERS IN LARGE THERAPEUTIC AREAS. AND THEY WERE VERY SUCCESSFUL AT IT. PRODUCTS IN HYPERTENSION, PRODUCTS IN CHOLESTEROL, AND A NUMBER OF OTHER AREAS. PRODUCTS THAT WOULD SELL SOMEWHERE BETWEEN 7-10 BILLION DOLLARS A YEAR. NOW, WHAT HAPPENED IS IN DOING THAT, THEY BUILT LARGE R&D ORGANIZATIONS. THEY BUILT LARGE BUSINESS DEVELOPMENT ORGANIZATIONS, AND THEY BUILT LARGE MARKETING AND SALES ORGANIZATIONS TO SELL THESE BLOCKBUSTERS. AND THAT LED US TO CONSOLIDATION WITHIN THE INDUSTRY. NOW WHEN I SAY CONSOLIDATION, I HAVE TO STEP BACK A LITTLE BIT BECAUSE THE CONSOLIDATION OUR INDUSTRY IS NOWHERE NEAR WHAT IT IS IN SOME OF THE OTHER INDUSTRIES. FOR EXAMPLE, THE AUTOMOBILE INDUSTRY, WHICH IS APPROXIMATELY THE SAME AGE AS THE PHARMA INDUSTRY, THERE ARE WHAT? MAYBE 25 OR A COUPLE OF DOZEN AUTOMOBILE MANUFACTURERS IN THE WORLD? THERE ARE OVER 1500 PARDON ME SUIT CALL MANUFACTURERS IN THE U.S. ALONE. SO, WHEN I SAY CONSOLIDATION, WE HAVE TO PUT AN ASTERISK ON IT T IS CONSOLIDATION OVER WHAT IT WAS BUT NOTHING LIKE WHEN YOU TALK ABOUT TRUE INDUSTRY CONSOLIDATION. THEN THE FUNDING FOR EARLY-STAGE COMPOUNDS. SO, WHERE DID THAT LEAD US? THE SPEND ON R&D HAS GONE UP DRAMATICALLY. AND INTERESTING, YOU SEE, IN 2010, THE FIRST TIME IN THE HISTORY OF THE INDUSTRY, SPENDING ON R&D WENT DOWN. THIS IS U.S. COMPANIES AND SPENDING. THIS WENT DOWN T HAS SINCE GONE BACK UP TO ABOUT THAT 70 BILLION DOLLAR LEVEL. BUT YOU SEE WHILE THE SPENDING HAS GONE UP, THE NUMBER OF APPROVALS HAVE GONE DOWN. AND YOU CAN DO THAT MATH PRETTY EASILY WHEN YOU TAKE 20 COMPOUNDS AND DIVIDE IT BY 70 MILLION DOLLARS. THAT IS 3.5 BILLION DOLLARS PER APPROVED PRODUCT. ON AVERAGE NOW, IT TAKES SOMEWHERE BETWEEN A BILLION.5 AND A BILLION.9, DEPENDING ON THE SOURCE YOU LOOK, TO DEVELOP A COMPOUND TO TAKE IT ALL THE WAY FROM DISCOVERY TO THE MARKETPLACE. SO IT'S A PRETTY EXPENSIVE ENDEAVOR AND YOU CAN SEE WHY THIS BLOCKBUSTER STRATEGY MADE SENSE, BECAUSE IF IT'S GOING TO COST YOU A BILLION AND A HALF TO DEVELOP A DRUG, IT'S BETTER TO SPEND THAT BILLION AND A HALF AND GET $7 BILLION A YEAR IN SALES BECAUSE IT TAKES A BILLION AND A HALF TO DEVELOP A DRUG THAT MAY SELL $100 MILLION A YEAR AS WELL AND IT TAKES YOU A LOT LONGER TO GET THAT PAYBACK. NOW THIS IS THE OTHER THING THAT WE SAW AS WELL. PRESCRIPTIONS WERE FALLING IN THE U.S. ANYBODY KNOW WHY THAT IS? I THINK I HEARD IT. GENERICS. RIGHT NOW, ABOUTITE-10 PRESCRIPTIONS WRITTEN ARE FILLED BY A GENERIC. AND SO WHAT THAT SHOWS, AND THAT'S A DOLLAR. THAT'S A PERCENT OF DOLLAR GROWTH AND YOU CAN SEE THE PROFITABILITY OF THESE PRODUCTS IS GOING DOWN. SO YOU HAVE GOT A NUMBER OF FACTORS THAT GOING IN THE WRONG DIRECTION. AND WE TALKED ABOUT CONSOLIDATION. YOU CAN DO THIS WITH A NUMBER OF COMPANIES IN THERE. SO YOU SEE HOW PFIZER BUILT ITSELF. THEY ACQUIRED -- IN 1953 AND THEN IN THE EARLY TWO THOUSANDS, BEGAN ALMOST A BUYING FRENZY. THEY TOOK OVER WARNER-LAMBERT IN 2000 AND WARNER-LAMBERT COLONEL BIND WITH PARK DAVIS IN 1976. THEY BOUGHT PHARMACYIA IN 2002. IT WAS AT THAT TIME CALLED PHARMACYIA BUT JUST BEFORE THAT IT WAS CALLED PHARMACYIA UPJOHN BECAUSE THOSE 2 COMPANIES COMBINED IN 1995 AND PURCHASED THE CHICAGO COMPANY IN 1999. AND THEN IN 2009, BEFORE THAT WAS AMERICAN HOME PRODUCTS BUT IT WAS THE SAME COMPANY. THEY TOOK OVER AH ROBINS, THE COUGH SYRUP COMPANY 1988 AND THEY BOUGHT LEDERLE IN 1994. ONE OF THESE THINGS THAT ARE INTERESTING TO DO IS TO TALK ABOUT THE COMPANIES WHO NO LONGER EXIST. THESE COMPANIES THAT WE SEE HERE NO LONGER EXIST. AND YOU CAN DO THIS WITH PFIZER IS A GOOD EXAMPLE. ASTRAZENECA IS A GOOD EXAMPLE AND DO THIS WITH MANY MORE THAT IF YOU TRACE THE HISTORY, THAT THESE ARE COMPANIES THAT HAVE COME TOGETHER. NOW, ONE OF THE THINGS THAT HAPPENED WHEN THESE COMPANIES CAME TOGETHER SHA THEY PROMISED THE SHAREHOLDERS EFFICIENCIES IN HERE BUT THOSE REALLY DIDN'T TAKE PLACE. AND SO WHAT THEY WERE DOING IS APPENDING NEW R&D ORGANIZATIONS, NEW MARKETING AND SALES ORGANIZATIONS TO THEIR EXISTING COMPANY. AT ONE TIME, PFIZER, ABOUT 2005, 2006, HAD 13,000 SALES REPS. AND AS WE LOOK AT SALES REPS TO SHOW THAT IT WASN'T JUST THE R&D ORGANIZATIONS THAT WERE COMING UP, BUT IT WAS THE MARKETING ORGANIZATIONS AS WELL. WHEN YOU LOOK AT SALES REPS IN 1988, THERE WERE 35,000 INDUSTRY REPS, THAT IS TOTAL INDUSTRY REPS, IN 2006 WHICH WAS AT THE HEIGHT OF IT, IT IS ABOUT 106,000. NOW JUST KIND OF LOOKING AT THAT, 35,000 PROBABLY ISN'T ENOUGH BUT 106,000 IS PROBABLY WAY TOO MANY. AND YOU CAN SEE THAT THAT IS AN ANNUAL GROWTH RATE OF OVER 20%. THEIR CHIEF CUSTOMERS WERE GROWING AT 5%. IF YOU LOOK INSIDE THE NUMBERS AND YOU NOTE THAT ABOUT HALF OF THE PHYSICIANS ARE IN CLINICAL PRACTICE, THAT MEANS WHEN WE REACH 2006, WE HAD ONE SALES REP FOR EVERY FOUR CUSTOMERS. AGAIN, WE NEED MAKE BLOCKBUSTER DRUGS SO WE HAVE TO PUSH THAT PRODUCT. WE TALKED ABOUT Ph.D.s AND WE SAID, THERE MAY BE TOO MANY OF THOSE BUT THE PHARMA SALES REPS HAD GREW AT TWICE THE RATE THE Ph.D.s DID. SO, WE HAVE GOT TOO BIG R&D ORGANIZATIONS AND WE HAVE TOO BIG OF MARKETING AND SALES ORGANIZATIONS. YOU CAN SEE WHAT IS ABOUT TO HAPPEN. NOW BEFORE WE GET THERE, YOU CAN'T DO OR TALK ABOUT INDUSTRY UNLESS YOU TALK ABOUT THE COST OF HEALTH CARE. WHEN I DID THISSERS GRAPH, I ORIGINALLY LEFT OUT ONE OF THE SETS OF ZEROS UP THERE. THAT'S 2.6 TRILLION DOLLARS THAT WE SPEND IN THE U.S. EVERY YEAR ON HEALTH CARE. AND YOU CAN SEE HOW IT IS BROKEN DOWN BETWEEN HOSPITAL PHYSICIAN, NURSING HOME AND THE PRESCRIPTION DRUG, WHICH BY THE WAY IS THIS LITTLE GREEN PART THERE. AND THAT'S ABOUT 10% OF THE TOTAL. THAT PERCENTAGE HAS STAYED FAIRLY CONSTANT SINCE THE EARLY 1960s. SPENT ON DRUGS HAS BEEN ABOUT 10% THROUGHOUT THAT TIME. AND THE OTHER THING THAT WE SHOULD POINT OUT HERE IS THAT IN 2010, IT'S ESTIMATED THAT APPROXIMATELY 25% OF A PERSON'S HEALTH CARE COST IS THE NOW BORN BY THE INDIVIDUAL HIMSELF. WE TALKED ABOUT COPAYS. WE TALKED ABOUT OTHER KINDS OF THINGS LIKE THAT. SO ABOUT A QUARTER OF THAT IS PAID BY THE PERSON HIMSELF. SO, IF THAT NUMBER IS CORRECT, 2.6 TRILLION. THAT'S ABOUT 650 MILLION DOLLARS THAT WE SPEND ON OUR OWN HEALTH CARE. AND THIS REALLY COME TO LIGHT WHEN YOU LOOK AT HOW THAT HAS CHANGED SINCE 1980. IN 1980, WE SPENT 234 MILLION DOLLARS ON HEALTH CARE AS A COMPANY -- AS A COUNTRY. AND APPROXIMATELY NONE OF THAT WAS SPENT BY US N2010, YOU SEE THE TWO.6 TRILLION DOLLARS AND THAT IS APPROACHING 20% OF OUR GROSS DOMESTIC PRODUCT. SO YOU SEE THAT IS SOMETHING THAT HAS TO BE DONE. AND THIS IS GOING TO BE A MAJOR DRIVER IN INDUSTRY AND IN HEALTH CARE AS WE GO FORWARD. AND WE ARE GOING TO -- >> [ OFF MIC ] >> THE QUESTION WAS, DO WE SEE THAT AS A SUCCESS OF THE PHARMACEUTICAL INDUSTRY? I THINK MAYBE EXPANDING THAT THE SUCCESS OF HEALTH CARE. YES, YOU'RE RIGHT. AND I THINK THAT'S ONE OF THE CHALLENGES WE WILL FACE OVER THE NEXT 5-10 YEARS. IT'S NOT JUST ABOUT COST CONTAINMENT IN HEALTH CARE, IT'S HOW TO CONTINUE TO IMPROVE HEALTH CARE WHILE AT THE SAME TIME CONTROLLING THE COSTS? YOU'RE RIGHT. IF IF YOU HAVE A QUESTION OR A POINT TO MAKE, PLEASE INTERRUPT ME AND I'LL STOP. I THINK IT IS GOING TO BE IMPORTANT. SO, HERE IS THE IMPACT ON THE INDUSTRY. WE HAVE GOT THESE LARGE R&D ORGANIZATIONS. WE HAVE GOT LARGE MARKETING AND SALES ORGANIZATIONS. AND AT THE SAME TIME, WE HAVE INDIVIDUAL CONTRIBUTIONS TO HEALTH CARE INCREASING TO A POINT WHERE IN 2007, 2008, 2009, LESS PEOPLE ACTUALLY WENT TOEN THE DOCTOR. PHYSICIAN VISITS R. DOWN AND PRESCRIPTIONS ARE DOWN. WHAT WE SAW WAS AN ECONOMIC CONDITION THAT EXPOSED A BUSINESS MODEL THAT NEEDED TO BE FIXED. , SO WE SAW IN 2007, SINCE 2007, A HALF MILLION JOBS LOST. IN R. AND D, HERE IS THE KICKER -- R&D. SINCE THAT TIME, THE HOWEVER ALL INDUSTRY EMPLOYMENT IS DOWN -- THE OVERALL INDUSTRY EMPLOYMENT IS DOWN 6%. WE ARE SEEING BIG HEADLINES OF COST CUTS AND JOBS BEING LOST BUT JOBS ARE BEING ADDED AT THE SAME TIME. AND I THINK GOING EVEN FURTHER THAN THAT, IF I COULD READ INTO THIS SITUATION A LITTLE FURTHER, IT IS AN ATTEMPT TO GET TO MOVE PEOPLE OUT OF THE INDUSTRY THAT ARE BOUND TO THAT OLD THOUGHT PROCESS, THAT BLOCKBUSTER MENTALITY. AND THE SPEND A LOT OF MONEY ON R&D AND MOVE NEW PEOPLE IN. AND SO THAT IS KIND OF WHAT WE ARE GOING TO BE TALKING ABOUT AS WE GO FORWARD AS COMPANIES ARE LOOKING FOR PEOPLE, WHAT ARE THE TYPES OF PEOPLE THEY WILL BE LOOKING FOR AND WHERE ARE THESE JOBS LIKELY TO BE. WE TALKED BUILT DRIVERS. IT'S NOT JUST ABOUT CONTROLLING THE COST BUT ABOUT IMPROVING HEALTH CARE AND AT CONTAINED COSTS. INCREASING TECHNOLOGY AND SCIENTIFIC UNDERSTANDING. THIS IS ANOTHER TREND DRIVING US AWAY FROM THE BLOCKBUSTERS. AND THAT IS BECAUSE, AS OUR TECHNOLOGY IMPROVES, WE ARE ABLE TO CREATE TREATMENTS THAT ARE SPECIFICALLY FOR SMALLER GROUPS WITHIN THE POPULATION. AND SO, IF YOU'RE A COMPANY THAT PRODUCES BLOCKBUSTERS, MY EXAMPLE IS, INSTEAD OF 100 MILLION PEOPLE THAT TAKE LIPITOR, THAT MAY BE DIVIDED INTO GROUPS OF 5 OR 10 OR 20 MILLION THAT TAKE THIS TYPE OF LIPITOR AND THIS TYPE OF LIPITOR AND THIS TYPE. BUT THOSE COULD BE ALL DEVELOPED BY DIFFERENT COMPANIES. SO YOU HAVE GOT SCIENTIFIC SCIENCE THAT IS MOVING US AWAY FROM THAT BLOCKBUSTER MENTALITY. AND WE HAVE A CHANGING CUSTOMER BASE. WE SAW THAT IN THE GRAPH THERE WHERE THE SLOWER GROWTH IS IN THE MORE DEVELOPED CREASES, U.S., EUROPE, AND JAPAN AND THE GROWTH THAT WE ARE SEEING IN THE INDUSTRY IS IN LATIN AMERICA AND IN THE OTHER ASIAN MARKETPLACES. AND INCREASED MANAGEMENT OF COSTS. SO, WE TALKED ABOUT THAT FROM THE PAYOR PERSPECTIVE. WE ARE GOING TO SEE THAT THE AFFORDABLE CARE ACT HERE IN THE U.S., WHICH IS NOW BEGINNING TO KICK IN OVER THE NEXT YEAR, YEAR AND A HALF. BUT INTERESTINGLY ENOUGH, THAT IS NOT UNIQUE. IT JUST IS CATCHING THE U.S. MARKETPLACE UP WITH OTHER MARKETS AROUND THE WORLD THAT ARE MORE WHERE THE COST CONTROLS ARE MORE GOVERNMENT-BASED. WITH THAT, YOU SEE THAT WE ARE MOVING AWAY FROM THE BLOCKBUSTERS. WE ARE MOVING MORE TOWARDS NICHE MARKETPLACES. SO THERE IS GOING TO BE MORE OF A PREMIUM ON DISCOVERY OF CRITICAL PRODUCTS. AND AS WE DO THAT, I THINK THERE IS GOING TO BE A GREATER STRESS ON MORE EFFICIENT PRODUCT DEVELOPMENT. IF YOU KNOW YOU'RE DEVELOPING A MARKET, A PRODUCT IN A NICHE MARKET THAT MAY HAVE, INSTEAD OF 100 MILLION POTENTIAL PATIENTS BUT 200,000 PATIENTS, IN ORDER TO MAKE THAT PROFIT AM, YOU HAVE TO -- PROFITABLE, YOU HAVE TO LOWER YOUR R&D COSTS. AND THERE WILL BE IMPROVED STRATEGIES TO CONTAIN COSTS. AND IF YOU THINK THROUGH THIS, WHERE IS IT? THERE IS GOING TO BE OPPORTUNITIES LIKE I MENTIONED BEFORE IN THE INSURANCE INDUSTRY. THERE WILL BE OPPORTUNITIES IN SMALLER COMPANIES. THERE WILL BE OPPORTUNITIES IN GENERIC AND BIOSIMILAR DEVELOPERS. SO THERE IS THAT CHANGING MARKETPLACE AROUND THERE OF WHERE THE OPPORTUNITIES MAY EXIST. AND, WE TALKED ABOUT THIS. WE NEED TO REFINE THAT RELATIONSHIP BETWEEN INDUSTRY AND ACADEMIA. HERE AT THE NIH, YOU HAVE A GREAT PROGRAM THAT IS GOING FORWARD SCHEDULED NCATS. HELP ME HERE. NATIONAL CENTER FOR THE ADVANCEMENT OF TRANSLATIONAL SCIENCES. ONE OF THE THINGS, AND I GOT TO TELL, ONE OF THE THINGS HARDEST FOR ME TO DO IS TO FIGURE OUT WHAT THE ACRONYMS ARE. AND SO, WHEN I GET ONE, I'M SO PLEASED. BUT THE WHOLE CONCEPT HERE IS THAT THIS IS AN ORGANIZATION THROUGH THE NIH THAT DOES THE BASIC DISCOVERY RESEARCH AND LOOKS TO BE THE INCUBATOR FOR INDUSTRY. SO I THINK THAT IS A GOOD TEMPLATE AND I THINK WE WILL SEE MORE OF THAT. FROM A JOB PERSPECTIVE, WHAT DOES THAT MEAN? ONE OF THE THINGS I THINK THAT IS GOING TO MEAN IS THAT IN THE PAST, IT WAS THAT IF YOU WERE IN ACADEMICS AND YOU LEFT THAT AND WENT INTO INDUSTRY, NO TURNING BACK. I DON'T THINK THAT IS GOING TO BE QUITE THE CASE AS MUCH ANYMORE. YOU'RE GOING TO SEE A NUMBER OF PEOPLE THAT WILL MAKE THAT TRANSITION ONE WAY AND THEN GO BACK. AND FROM ACADEMIA AND INDUSTRY AND BACK AND VICE VERSA. SO WE SAID, THAT THIS IS NOT JUST ONE COMPANY. IT'S NOT JUSTIFIES IR. BUT THERE IS A BUNCH OF COMPANIES. AND THESE COMPANIES ARE ALL SIZES. SO THERE ARE THE MEGACOMPANIES. THE COMPANIES THAT SELL OVER 10 BILLION DOLLARS OF DRUGS. GLOBALLY THEY HAVE GENERALLY MORE THAN 70,000 EMPLOYEES. THERE. I DIDN'T MEAN TO DO THAT. THE LARGE COMPANIES AND SALES OF 22500-70,000 EMPLOYEES. AND YOU SEE THESE ARE BROAD RANGES HERE. THE MEDIUM COMPANIES SALES UP TO ABOUT A BILLION DOLLARS. AND YOU SEE THE EMP RENUMBERS. THE SMALLER COMPANIES AND THEN GOING TO THE START UPS. AND THE START UPS COULD BE ONE PERSON. AND THE REVENUES COULD BE ZERO AT THIS POINT. SO WHAT WE HAVE TRIED TO DO IS JUST TO TRY TO GIVE YOU SOME EXAMPLES. THIS IS BY NO MEANS EXHAUSTIVE BUT IT JUST GIVES YOU SOME EXAMPLES OF COMPANIES THAT YOU MAY HAVE HEARD OF IN THESE VARIOUS SECTORS THAT GO ACROSS DIFFERENT AREAS WITHIN THE MEDICINE WITHIN THE MEDICAL OR HEALTH CARE MARKETPLACE. AND THE SIZES. THE TWO EMPTY BOXES THERE DOESN'T MEAN THERE IS NO COMPANIES THERE. IT PROBABLY MEANS THERE IS 100,000 COMPANIES THERE TOO MANY TO NOTICE OR MENTION. SO, WHERE ARE THE OPPORTUNITIES WITHIN THE INDUSTRY? THE FIRST PLACE WE LOOK AND THE MOST COMMON IS IN R&D. WHAT I TRIED TO DO IS TAKE THE VARIOUS AREAS FROM THE CLINICAL OR THE DISCOVERY, CLINICAL AND PRECLINICAL DEVELOPMENT TO SOME OF THE OTHER AREAS LIKE, PHARMA DEVELOPMENT AND PROJECT MANAGEMENT AND WE'LL GIVE YOU A BASIC DISRUPTION OF WHAT THESE ARE SO YOU HAVE AN IDEA THAT WHEN YOU'RE LOOKING AT INDUSTRY, IT IS NOT -- YOU JUST DON'T -- THERE IS OTHER OPPORTUNITIES BESIDES JUST GOING IN AND BEING A BENCH SCIENTIST. THERE ARE COMMERCIAL OPPORTUNITIES AS WELL. BUSINESS DEVELOPMENT, SALES AND MARKETING IT'S UNLIKELY ANYBODY IN THIS ROOM WILL BE A SALES REP. BUT YOU LOOK AT THAT OPPORTUNITY AS WELL. IT'S A CORPORATE COMMUNICATIONS AND THEN THERE ARE THESE AREAS THAT GENERALLY GET LUMPED INTO EITHER SCALES MARKETING OR TO R&D BUT THEY ARE DIFFERENT AND THE REASON THEY ARE DIFFERENT IS BECAUSE YOU HAVE TO HAVE FIREWALLS THAT EXIST WHEN YOU LOOK AT REGULATORY AFFAIRS, YOU HAVE TO HAVE A PRETTY GOOD OR STRONG FIREWALL THERE BETWEEN THE REGULATORY FOLKS AND THE DEVELOPMENT FOLKS. AND IN MEDICAL AFFAIRS WHICH GENERALLY IS THOUGHT OF OVER IN THE MARKETING SIDE, THE SAME KINDS OF FIREWALL ITS HAVE TO EXIST. THERE ARE THE SERVICES FROM THE AGENCIES THAT WE TALKED ABOUT TO ALL OF THESE OTHER AREAS AROUND THE HEALTH CARE AND LIKE I SAID, WHEN YOU TALK ABOUT SERVICES B-OF THOSE FUNCTIONS THAT ARE IN THE YELLOW, GREEN OR BLUE ARE ALSO AVAILABLE TO BE CONTRACTED OUT. SO FOR EXAMPLE, SOME OF THE SMALL BIOTECH START UPS DON'T HAVE THEIR OWN DEVELOPMENT ORGANIZATIONS. THOSE ARE DONE BY CONTRACT RESEARCH ORGANIZATIONS. BY THE SAME TOKEN, SMALL COMPANIES WHO START TO LAUNCH PRODUCTS DON'T NECESSARILY HAVE THEIR OWN SALES FORCE OR EACH THEIR OWN MEDICAL AFFAIRS. THOSE ARE OFTEN TIMES CONTRACTED OUT AS WELL. FINALLY OPERATIONS FROM THE IMPLEMENT AND QUALITY. THESE ARE ALL WITHIN THE INDUSTRY AND SO WHAT WE HAVE TRIED TO DO NOW IS TO TAKE THOSE AND GIVE YOU SOME BASIC DESCRIPTORS OF WHAT THOSE ARE. OUR HOME IS THAT YOU MAY SEE SOMETHING IN HERE THAT YOU SAY, THAT'S INTERESTING. I NEEDED TO CHECK THAT OUT. AND IF I CAN RECOMMEND, THIS CAME FROM A BOOK CALLED, CAREERS IN BIOTECHNOLOGY AND THE AUTHOR IS FRIEDMAN ON THAT. SO IF YOU GET A CHANCE TO TAKE A LOOK AT THAT, IT GIVES YOU OR APPROXIMATELY A 6-10 PAGE DESCRIPTOR OF WHAT THIS JOB CONSISTS OF AND WHAT QUALIFICATIONS THEY LOOK FOR IN THE HIRING AND WHAT IT TAKES TO BE SUCCESSFUL IN THESE POSITIONS. SO IT GIVES YOU A -- YOU DRILL DOWN ONE MORE STEP. BUT YOU LOOK AT THE R&D OPPORTUNITIES. THESE ARE THE CLASSIC JOBS THAT MDs, MD-Ph.D.s MOVE INTO INTO INDUSTRY. THE DISCOVERY RESEARCH, AND YOU CAN SEE WHAT THE QUALIFICATIONS ARE. GENERALLY THERE ARE DEGREE QUALIFICATIONS AND THERE ARE EXPERIENCE QUALIFICATIONS. DEGREES LOOK FOR Ph.D.s AND LOOK FOR SOME ARE SPECIALIZATION. THAT IS EITHER THERAPEUTIC OR SPECIALIZATION IN THE TYPE OF WORK THAT IS BEING DONE. THE PRECLINICAL WORK IS SIMILAR. AND THEY LOOK FOR THE -- SORRY. THEY LOOK FOR SPECIALIZATION IN AND POSTDOC WORK AS WELL IN THAT AREA. CLINICAL DEVELOPMENT, A LITTLE BIT DIFFERENT BECAUSE THEY LOOK FOR EXPERIENCE IN CLINICAL TRIALS, GENERALLY WHEN THEY ARE LOOKING FOR THAT. PROJECT MANAGEMENT IS KIND OF THE OVERVIEW OF THIS. THESE ARE THE PEOPLE THAT DON'T ACTUALLY DO THE CLINICAL TRIALS OR THE STUDIES OR LAB WORK. BUT THEY ARE THE ONES THAT MANAGE THE PROCESS TO MAKE SURE THINGS ARE DONE CORRECTLY, ON TIME AND ON BUDGET. AND THEN THE BIOFARM PRODUCT DEVELOPMENT. THESE ARE THE PEOPLE THAT GO IN AND MAKE THE DRUGS. AND THERE IS TWO AREAS OF THAT. THERE IS THE PRODUCTION SIDE OF THAT WHERE THEY MANUFACTURE THE COMPOUNDS. THE OTHER SIDE OF THAT IS IN THE MORE IN THE CLINICAL TRIAL MANUFACTURERS. SO WHILE THE FIRST ONE I DESCRIBED IS MORE OF AN ENGINEERING OR BIOENGINEERING BACKGROUND, THE SECOND A SCIENTIFIC BACKGROUND PRODUCING QUANTITIES OF THE TRIAL MEDICATION: AND THIS IS A MORE ON A ONE TIME BASIS. WE TALKED ABOUT THE COMMERCIAL MARKETING AND SALES. THOSE ARE PRETTY MUCH STRAIGHTFORWARD. ALTHOUGH WE DO FIND LESS IN SALES BUT SOMETIMES IN PRODUCT MANAGEMENT, THERE WILL BE PEOPLE WITH FHDs AND BIOPh.D.s. UPON MANY COMPANIES WILL MOVE PEOPLE FROM THEIR DEVELOPMENT TEAM INTO PRODUCT MANAGEMENT. SO AS THE PRODUCT PREPARES TO LAUNCH, THE SAME PERSON THAT WAS IN CHARGE OF TAKING IT THROUGH THE CLINIC, ALSO WILL LAUNCH THE PRODUCT. BUSINESS DEVELOPMENT. YOU SEE THAT THIS IS A BROAD RANGE OF DEGREED BACKGROUNDS. BUT I THINK Ph.D.ES AND SCIENTIFIC Ph.D.s ARE BECOMING MORE AND MORE PREVALENT IN THIS AREA. AND I THINK CERTAINLY AS WE GO FORWARD, THIS IS GOING TO BE THE CASE AS WE LOOK FOR IDENTIFYING THOSE TECHNOLOGIES THAT HAVE A FUTURE, THAT WE CAN DEVELOPMENT. AND WE'LL LOOK AT THAT BUSINESS DEVELOPMENT. THIS TENDS TO BE TWO SIDES OF THAT. ONE IS THE OUTLICENSE SIDE SO WORKING FOR THE SMALL COMPANY TRYING TO GET THE BIG PHARMA GUY ON THE HOOK TO LICENSE THAT AND THE OTHER SIDE IS THE BIG PHARMA GUY LOOKING FOR THAT REALLY GOOD TECHNOLOGY. AND THEN FINALLY, CORPORATE COMMUNICATIONS. THIS IS A LESS SO AROUND DEGREE AND PARTICULARLY THE DEGREES HERE BUT THESE ARE THE PEOPLE THAT ARE GOOD AT COMMUNICATION EITHER WRITTEN OR ORAL AND IN BRINGING A NUMBER OF THUDS TOGETHER INTO A STORY. WE TALKED ABOUT THESE AREAS BETWEEN. I LISTED THREE HEREMENT ONE IS THE PRODUCT SUPPORT. THESE ARE THE BEAM PROVIDE TECHNICAL SUPPORT FOR A PRODUCT. AND THIS IS EYE NUMBER OF DIFFERENT AREAS WHERE THIS IS. ONE, THIS PERSON TENDS TO BE THE PRODUCT EXPERT AS THAT COMPOUND IS COMING THROUGH THE DEVELOPMENT CYCLES. SO QUESTIONS ARE DIRECTED THERE. THE THESE ARE ALSO THE PEOPLE WHO WILL COMMUNICATE WITH CUSTOMERS -- EXCUSE ME, ONCE THE PRODUCT IS ON THE MARKET. THESE PEOPLE TEND TO BE MORE IN-HOUSE-TYPE PEOPLE AND WILL COMMUNICATE WITH CUSTOMERS ANSWERING SCIENTIFIC QUESTIONS EITHER OVER THE PHONE OR IN WRITE EN CORRESPONDENCE. AND THEN ANOTHER WAY THIS PLAYS OUT AND THIS IS MORE IN THE MEDICAL DEVICE AREA, IS THESE ARE THE EXPERTS OF A PARTICULAR DEVICE TECHNOLOGY THAT ACTUALLY AS AN EXAMPLE, A SURGICAL SYSTEM. THEY WILL GO INTO THE OPERATING ROOM AND TRAIN THE PHYSICIANS ON HOW TO USE THIS THING. BUT YOU CAN SEE. THESE ARE MDs OR Ph.D.s AND THEY HAVE EITHER THERAPEUTIC OR TECHNOLOGY EXPERRITIES. THE MEDICAL AFFAIRS. A SIMILAR KIND OF POSITION BUT THESE PEOPLE ACTUALLY MEET FACE TO FACE WITH CUSTOMERS. THESE ARE PEOPLE THAT ARE OR THAT SUPPORT THE SALES FORCE AND THE CUSTOMERS THEY MEET WITH TEND TO BE THE THOUGHT LEADERS IN THE THERAPEUTIC AREA. SO THEY WILL BE CALLING ON OR VISITING THE PHYSICIANS AT A JOHN'S HOPKINS OR AT A GEORGE WASHINGTON OR A GEORGETOWN. AND THEY WILL TALK. THEY WILL SUPPORT THE MARKETING EFFORT, BUT THEY ARE ABLE TO TALK BUILT SCIENCE BEYOND JUST WHAT THE INDICATION, THE FDA INDICATION IS. AND THEN REGULATORY AFFAIRS. THESE ARE THE CROSS THE Ts AND DOT THE Is FOLKS. THEY MAKE SURE THAT AS THE PRODUCT GOES THROUGH THE DEVELOPMENT PROCESS,xD THAT IT IS DONE CORRECTLY. AND BY CORRECTLY, THAT IS, AS DEFINED BY THE FDA. IN THIS COUNTRY. THERE ARE OTHER -- AND THAT IS WHAT MAKES IT A LITTLE BIT MORE DIFFICULT BECAUSE YOU HAVE OTHER APPROVAL AGENCIES AROUND THE WORLD. BUT THESE ARE THE FOLKS THAT NUMBER 1 DESIGN THE TRIALS AND DESIGN THEM SO THEY ARE INCOME APPLIANCE WITH THE FDA REQUIREMENT -- IN COMPLIANCE. SO THEY WILL BE ABLE TO SAY, YES, PROVED THIS AND IT DOES THIS AND THAT AND THEREFORE IT CAN BE USED FOR THIS DISEASE. OUR OPERATIONS FOLKS, THE OPERATIONS ARE IS LIKE THE PROJECT MANAGEMENT FOLKS BUT AT A LARGER SCALE. THEY ARE MAKING SURE THAT NOT ONLY ARE THE TRIALS ON TRACK BUT THE MANUFACTURING AND EVERYTHING FALL INTUSE PLACE AS WELL. THESE TEND TO BE POSITIONS WITHIN THE INDUSTRY THAT PEOPLE MOVE INTO FROM OTHER INDUSTRY POSITIONS. THESE TEND NOT TO BE SOMEWHERE WHERE THE PEOPLE IN THIS ROOM WOULD GO BUT ONCE YOU GET INTO SOME OF THESE AREAS AND SHOW A KNACK FOR SOME OF THESE AREAS, YOU MOVE INTO EITHER THE OPERATIONS AREA, BIOIT OR THE QUALITY. YOU NEED TO MAKE SURE THAT IS IT IN THE SPECKS FROM AN R&D PERSPECTIVE AS WELL AS FROM A MANUFACTURING PERSPECTIVE. SERVICES GOES ACROSS-THE-BOARD. LIKE I SAID BEFORE, VIRTUALLY ALL OF THOSE POSITIONS THAT WE TALKED ABOUT BEFORE ARE ALSO AVAILABLE IN CONTRACT ORGANIZATIONS. WHETHER MARTHING AND SALES OR RESEARCH OR DEVELOPMENT OR QUALITY, WHETHER IT IS IT. THOSE CAN BE DONE THROUGH ORGANIZATIONS. SO DOING THE SIMILAR THINGS HERE THAT YOU WOULD BE DOING AT CDC, STUDYING THE FLU AND WHY IT IS SO BAD. MANAGEMENT COUPLING. AND THIS IS AN INTERESTING ONE TOO. THESE ARE -- THEY LOOK FOR PEOPLE WITH SPECIFIC SCIENTIFIC EXPERTISE IN TERMS OF CONSULTING WITH VARIOUS COMPANIES WITHIN THE INDUSTRY. IF THERE IS A PARTICULAR PROBLEM, IF IS THERE A PARTICULAR ISSUE THIS COMPANY NEEDS TO DEVELOP. OR NEEDS TO FIGURE OUT. AND THESE ARE THE BIG ONES. THEY GO DOWN AS WELL IN THOSE THAT SPECIALIZE IN ONE PROCESS OR ONE THERAPEUTIC AREA. HEALTH CARE FINANCE. WE TALKED ABOUT THAT. THIS IS A GROWING OPPORTUNITY FOR THOSE PEOPLE WHO ARE GOING TO BE FUNDING THIS RESEARCH TO HAVE PEOPLE ON THEIR STAFF THAT ARE EXPERTS THAT CAN EFFECTIVELY EVALUATE THOSE THAT TECHNOLOGY. INVESTMENT BANKING, I KNOW WHEN OUR COMPANY WENT PUBLIC, VIRTUALLY EVERY VC MEETING WE HAD, THERE WAS EITHER AN MD, A Ph.D. OR MD-Ph.D. SITTING IN ON THAT TO EVALUATE THE SCIENCE OF WHAT WE WERE HAVING. AND THEN, RECRUITING. THIS IS LIKE A MATCH MAKER. AND YOU HAVE GOT QUESTIONS ON RECRUITING, I'LL DIRECT THOSE TO MICHAEL WHO YOU MET OVER THERE. HE CAN TELL YOU ABOUT THAT. MICHAEL HAS SOMEBODY ON HIS STAFF WHO CAME FROM NIH. >> [ OFF MIC ] AND YOU CAN TALK TO SOMEBODY FACE-TO-FACE THAT DID THAT. I'M HOPING THIS IS INTERESTING FOR YOU. WE PUT TOGETHER SUMMARY JOB SPECKS OF ACTUAL POSITIONS THAT MICHAEL'S COMPANY RECRUITED FOR. YOU CAN SEE WHAT THEY ARE LOOKING FOR. YOU SEE THE COMPANY, THE POSITION, WHO THAT POSITION REPORTS TO AND A BASIC DESCRIPTION OF WHAT THE RESPONSIBILITIES ARE AND WHAT THE QUALIFICATIONS ARE. SO WHAT IS IT WE ARE LOOKING FOR IN ORDER TO DO THOSE KINDS OF THINGS? NOW A COUPLE OF POINTS I'M GOING MAKE. I'M GOING RUN THROUGH A NUMBER OF THESE. YOU'RE GOING TO SEE A NUMBER OF DIFFERENT LEVELS ON THERE. YOU SEE THE ONE ON THE LEFT IS DIRECTOR OF FORMULATION DEVELOPMENT. THE WRONG ON THE RIGHT IS PROCESS DEVELOPMENT MANAGER. THE QUESTION IS, WHAT DOES THAT MEAN? WELL, IT MEANS, AND I THINK TRANSLATED IN, CAN I APPLY FOR THIS JOB? SO, THE ANSWER TO THAT QUESTION IS, YES, YOU CAN APPLY FOR THAT JOB. AND OFTEN TIMES, THAT LEVEL DEPENDS ON A NUMBER OF DIFFERENT THINGS. THE LEVELS TEND TO BE WRITTEN HIGHER IN THE SMALLER ORGANIZATIONS AND THEY TEND TO BE WRITTEN LOWER IN THE LARGER ORGANIZATIONS. SO FOR EXAMPLE, A MOTHER-IN-LAW IN A LARGE ORGANIZATION MAY DO EXACTLY THE SAME THING AS VICE PRESIDENT IN A SMALLER ORGANIZATION. SO THE ANSWER TO YOUR QUESTION IS, SHOULD I APPLY? AND THE ANSWER IS YES. THE OTHER THING THEY DO IS THEY WILL BASE THAT LEVEL ON THE EXPERIENCE THAT YOU HAVE COMING IN. SO IT MAY BE WRITTEN UP KIND OF -- GENATIONALLY. THE LEVEL MAY BE DEPENDING UPON THE LEVEL OF EXPERIENCE YOU HAVE IN THAT PARTICULAR AREA AND WHAT THAT WILL TRANSLATE INTO IN THEIR PAY GRADES. THESE ARE THE MORE EARLY STAGE THAT YOU WILL BE WORKING MORE IN THE EARLY STAGE OF COMPOUNDS. THE DEVELOPMENT POSITIONS ARE CLINICAL DEVELOPMENT DIRECTOR. THAT IS OVERSEEING THE WHOLE CLINICAL DEVELOPMENT PROCESS. BUT AGAIN, YOU SEE, THE COMPANY, WHERE DID REPORTS IN THE ORGANIZATION, THE QUALIFICATIONS, AND WHAT THE RESPONSIBILITIES ARE. AND THEN DIRECTOR PHARMACOLOGY AND PHARMACOKINETICS. I LISTED THAT AS A DEVELOPMENT POSITION IN THE EARLY STAGE. YOU GOT DO THE PK STUFF TO GET TO THAT IND. THEN THERE ARE BUSINESS POSITIONS. WE TALKED ABOUT THESE. VICE PRESIDENT OF BUSINESS DEVELOPMENT, AND YOU CAN SEE HERE WHERE THEY REPORT. THIS ONE AT GILFORD. THE RESPONSIBILITIES, AGAIN THESE ARE THE PEOPLE THAT GO OUT AND LOOK FOR TECHNOLOGIES OR GO OUT AND TRY TO SHOP THE TECHNOLOGIES. AND AGAIN, YOU SEE WHILE IT DOESN'T SPECIFY A DEGREE, THEY ARE LOOKING FOR SOMETHING IN THE AREA THE COMPANY SPECIALIZES IN. THIS HAPPENS TO BE CNS. AND THEN, METAMUNE FOR THE DIRECTOR OF MEDICAL AFFAIRS. IN THIS IS THE POSITION WE DESCRIBED EARLIER. THEY MEET WITH THE THOUGHT LEADERS IN THE PARTICULAR AREA. BUT TALKING ABOUT THE RESPONSIBILITIES AND THE QUALIFICATIONS. MD PREFERRED. OFTEN TIMES THESE PEOPLE ARE Ph.D.s OR IN SOME CASES FARMEES. AND THEN OTHER POSITIONS. WE TALKED ABOUT THE PRODUCT SUPPORT POSITION. SO THAT IS THE PRODUCT EXPERT. AGAIN, YOU SEE WHAT THE RESPONSIBILITIES ARE THERE AND THE QUALIFICATIONS, TALKING ABOUT ADVANCED DEGREE AND THE SPECIALIZATION IN THE PARTICULAR THERAPEUTIC AREA. AND THEN FORMULATION DEVELOPMENT EXECUTIVE. THIS IS A GOOD EXAMPLE OF WHAT I TALKED ABOUT EARLY WHERE IT SAYS, FORMULATION DEVELOPMENT EXECUTIVE. THAT MEANS THAT YOUR JOB TITLE WILL BE DEFINED BY THE LEVEL OF EXPERIENCE, THE DEGREE YOU HAVE COMING INTO IT. AND MANY OF THESE POSITIONS ARE LIKE THAT. THEY WILL -- THEY MAY NOT SPECIFY A PARTICULAR TITLE. SO, WITH THAT, THIS IS WHERE WE ARE GOING TO TAKE THIS AND KIND OF WRAP THIS UP AT THIS POINT. WHERE, BASED ON EVERYTHING WE HAD, WHERE IS THIS LEADING US? WHEN I SAY THAT, WHEN I IS THAT A KIND OF THING, REMEMBER THESE ARE GOING TO BE TRENDS. SO IT'S NOT JUST ALWAYS JUST PLAQUE AND WHITE. SO THE RESEARCH POSITIONS ARE GOING TO BE PARTICULARLY PREDOMINANTLY IN THE EARLIER STAGE COMPANIES. THOSE ARE THE ONES THAT ARE DOING MOST OF THE BASIC RESEARCH. NOW, HAVING SAID THAT, THE FIRST PERSON THAT I MET WITH WHEN I TOOK THE JOB BACK IN DECEMBER, WAS A PERSON THAT HAD A JOB INTERVIEW IN BASIC RESEARCH AT PFIZER. IT HAPPENS. IT DOESN'T MEAN JUST LOOK HERE. THIS IS WHERE THE TRENDS ARE. AND IF I CAN DIRECT YOU, THIS IS WHAT I'LL TRY TO DO. THE DEVELOPMENT POSITIONS ARE GOING TO BE IN THE LARGER COMPANIES. THEY ARE THE ONES THAT HAVE THE RESOURCES TO TAKE THE COMPOUND THROUGH THE DEVELOPMENT. THEY HAVE A BILLION AND A HALF. BUSINESS DEVELOPMENT, AND WE TALKED ABOUT THAT, THE OUTLICENSING IS IN THE SMALLER COMPANIES AND IN-LICENSING THE LARGER COMPANIES. MEDICAL AFFAIRS. THEY ARE THE PRODUCTS. THE COMPANIES HAVE PRODUCTS ON THE MARKET. THEY ARE THE ONES LOOKING FOR THIS MEDICAL EXPERTISE IN THE THERAPEUTIC AREAS. REG TEARY, AGAIN A LARGER COMPANY THAT ARE MOVING THEIR COMPOUND THROUGH THE DEVELOPMENT PROCESS. AND MOST OF THE TIME, NOW THESE PEOPLE WILL INVOLVE THE REGULATORY PEOPLE VERY EARLY ON: IN THE OLD DAYS, WHENEVER THAT IS -- I ALWAYS TALK ABOUT THAT. BUT WHENEVER THAT IS, THEY USED TO DO THE PRECLINICAL RESEARCH AND THEN THROW THE COMPOUND OVER THE FENCE AND THEN THE CLINICAL GUYS WOULD GRAB IT AND THEY WOULD DO THE CRIN CALL TRIALS ASK THROW IT OVER THE FENCE TO THE REGULATORY GUYS AND THEY WOULD TAKE IT TO THE FDA AND THE FDA WOULD SAY, WHAT DID YOU DO THAT FOR? SO NOW, I THINK A LOT OF THESE THINGS ARE THESE DEVELOPMENT TEAMS. THEY HAVE PRECLINICAL PEOPLE AND CLINICAL PEOPLE AND HAVE REGULATORY PEOPLE ON THIS TEAM. THEY MAY EACH HAVE MARKETING PEOPLE ON THIS TEAM. SO AS THE PRODUCT IS COMING THROUGH THE DEVELOPMENT PROCESS, THEY ARE ACTUALLY DEVELOPING MARKETING STRATEGY ALONG WITH THAT. PRODUCT SUPPORT. THOSE ARE LARGER COMPANIES THAT HAVE PRODUCTS ON THE MARKET. THE QUALITY, OBVIOUSLY THE ONES ARE MANUFACTURING AND BY THE WAY, THERE ARE CONTRACT MANUFACTURING ORGANIZATIONS THAT HAVE ALL THESE POSITIONS AND IS THERE A LOT OF THESE IN THE PHARMA INDUSTRY TODAY. IF I WERE GIVING THIS TALK THREE YEARS AGO, I WOULD SAY, THE COMPANIES KNOW THAT THE INDUSTRY HAS CHANGED BUT THEY DON'T KNOW WHAT THEY HAVE TO DO ABOUT IT. NOW THEY KNOW KIND OF WHAT THEY HAVE TO DO, THEY DON'T KNOW HOW TO DO IT YET. AND THAT IS WHERE I THINK THE OPPORTUNITY IS FOR THE PEOPLE IN THIS ROOM. WHAT DO WE DO NOW? THE FIRST THING IS TO LOOK FOR THE COMPANIES. WE WANT TO TARGET THE COMPANIES THAT HAVE MONEY OR CASH INFUSIONS. WHAT DO I MEAN BY THAT? WHERE ARE THE ONES THAT JUST RECEIVED FINANCING? THERE ARE SOURCES FOR THAT. THERE ARE THE FIERCE PUBLICATIONS. THESE ARE A SERIES OF ON-LINE NEWS LETTERS. THEY ARE FREE. YOU JUST SIGN UP. FIERCE BIOTECH, FIERCE PHARMA -- THERE IS LIKE 20 OF THEM. GET IT DOWN TO THE AREA YOU'RE IN. GOOD SOURCES TO GIVE YOU UP-TO-THE-MINUTE -- OR DAILY HIGHLIGHTS OF WHAT IS GOING ON. WHO IS GETTING MONEY? WHO IS MAKING TRANSITIONS? WHO IS DEALING PRODUCTS? WHO IS DEALING THERAPEUTICS? THERE IS ALSO A GOOD SECONDS OF JOBS IN THERE. AND MOST OF THOSE ARE SCIENTIFIC JOBS IN THESE FIERCE PUBLICATIONS. THE BIO, THIS IS THE PUBLICATION SIMILAR BUT FROM THE BIOORGANIZATION. IT IS SOMEWHAT REPETITIVE TO THE FIERCE BUT THEY HAVE DIFFERENT THINGS AS WELL. AND THE BIOPUBLICATION SPECIALIZES IN THE SMALLER COMPANIES. AND THEN THE OTHER IS A PUBLICATION CALLED, ON BIOBC AND THESE ARE ALL FREE, BY THE WAY. THIS IS THE ONE THAT HIGHLIGHTS WHO IS GETTING MONEY. SO WHAT COMPANIES ARE GETTING MONEY? WHO THE BCs ARE THAT ARE GIVING THE MONEY, SO YOU CAN SEE OR TARGET THAT. SO ONCE YOU LOOK AT THAT, TARGET THE COMPANIES THAT HAVE DEVELOPMENT INTERESTS IN THE AREA THAT IS YOUR SPECIALTY. ONE OF THE SOURCES FOR THAT THAT I RECOMMEND IS THE MD BIOWEBSITE. IT'S NOT A PARTICULARLY EFFICIENT SOURCE BUT IT IS EFFECTIVE. IT LIST ALL THE BIOTECH COMPANIES HERE IN MARYLAND SO THERE ARE SEVERAL THOUSANDS OF THEM BUT YOU CAN TAKE THOSE AND IT CAN DIRECT YOU TO THE VARIOUS WEBSITES SO YOU CAN FIND OUT WHICH OF THE COMPANIES, AND PARTICULARLY IN THIS AREA, THE BIOTECH HUB IN MARYLAND IS HERE IN MONTGOMERY COUNTY OR TOWARDS BALTIMORE. AND THEN, DEVELOP YOUR INDUSTRY CONTACTS. I PARTICULARLY LIKE LINKED IN. IT IS A SORTABLE DATABASE AND YOU CAN GO IN AND PUT A PARTICULAR COMPANY IN AND IT WILL COME UP WITH NAMES OF PEOPLE THAT WORK FOR OR HAVE WORKED FOR THAT COMPANY. SO YOU GET A CHANCE TO TALK TO SOMEBODY OR CORRESPOND WITH PEOPLE IN THAT COMPANY. I'M TOLD THAT THE NIH ALUMNI DATABASE IS VERY GOOD AS WELL. AND VERY THOROUGH IN TERMS OF PEOPLE THAT HAVE BEEN HERE AT NIH. SO YOU ALREADY HAVE THAT BACKGROUND. OR THAT COMMON BACKGROUND. AND THEN IDENTIFY YOUR KEY CONTACTS TO BE USED FOR REFERENCES. A GOOD PLACE TO START NOW. IT IS AN IMPORTANT PART OF THE PROCESS TO HAVE THOSE REFERENCES. AND TO HAVE THEM LINED UP TO HAVE OR TO TALK WITH THEM ABOUT WHAT YOUR PLANS ARE SO THAT THAT HELPS THEM BE A MORE EFFECTIVE REFERENCE FOR YOU. AND THEN BEGIN TO PREPARE YOUR INDUSTRY RESUME. AND THAT IS THE AREA THAT WE ARE GOING TO GO TO NEXT. BUT I WANT TO, BEFORE WE DO THAT, I WANT TO STOP AND SEE IF THERE ARE ANY QUESTIONS. >> REGARDING THE RESPONSIBILITY VERSUS QUALIFICATIONS. SO THOSE ARE LIKE REALLY HIGH UP. I SEEN SITUATIONS LIKE SCIENTISTS -- WHEN YOU LOOK AT THE RESPONSIBILITIES THAT YOU ARE GOING TO DO AND YOU FEEL LIKE YOU QUALIFY FOR THEM, BUT WHEN YOU LOOK AT WHAT THEY ARE LOOKING FOR, THEY LOOK FOR A Ph.D. WITH A 5-8 YEAR OF EXPERIENCE. AND YOU DON'T FIT INTO THAT. SO IF WE SEND IN OUR RESUME, IS IT LIKELY THEY WILL LOOK AT IT? >> YES AND NO. YOUR POINT IS A GOOD ONE. THERE ARE TWO PARTS TO THAT AND I MAY LOOK TO MICHAEL TO HELP ME HERE TOO. UNSOLICITED RESUMES THAT ARE JUST SENT IN FOR A POSITION LIKE THAT GENERALLY ARE NOT TAKEN AS SERIOUSLY AS ONE THAT IS RECOMMENDED. IF YOU KNOW SOMEBODY. SO THE ANSWER TO THE QUESTION IS, EVEN IF YOU DON'T HAVE THAT KIND OF EXPERIENCE BECAUSE MOST OF THESE JOB SPECKS ARE WRITTEN FOR THIS UTOPIAN KIND OF WORLD. WHAT WE REALLY WANT IS SOMEBODY WITH 4 Ph.D.s AND 22 YEARS OF EXPERIENCE AND THIS KIND OF THING. SO THE BOTTOM LINE IS, YES, DO THAT, BUT I RECOMMEND TO DO YOUR HOMEWORK INTO THE COMPANY BEFORE YOU SEND THAT IN. >> HOLD, DON'T TALK YET. I GET MY EXERCISE ON A DAY LIKE TODAY. >> I SAID, I AGREE. THERE IS NO COST TO SENDING IT IN. SO THERE IS NO DOWNSIDE TO SEND TODAY IN. AND EVERY SPECK FOR A POSITION I EVER SEEN IS WRITTEN OPTIMISTICALLY IT'S WRITTEN INDUSTRY SEEMS TO WANT PEOPLE WHO HAVE DONE EXACTLY THAT WHICH THEY WISH TO HAVE DONE ALREADY. BUT MOST GOOD PEOPLE DON'T MOVE LIKE THAT. MOST MOVE UP A STEP AT A TIME. SO THEY WRITE THE IDEAL THEIR VIEW BUT THEY WANT TO FILL THE POSITION. SO THEY ARE OPEN TO AND WELCOME HEARING FROM PEOPLE WHO THINK THEY ARE RELATED TO THE PARTICULAR SPECIFICATION. IN YOUR EXAMPLE, LET'S SAY YOU DON'T HAVE 5-8 YEARS EXPERIENCE BUT IF YOU'RE SCIENTIFIC, YOU WILL BECH RESEARCH OR THERAPEUTIC RESEARCH IN MEDICAL PRACTICE LET'S SAY, IT IS RIGHT ON THE MONEY TO THEIR PRODUCT AREA THEN THEY MIGHT THINK THAT IS MORE IMPORTANT. AND THE OTHER POSSIBILITY IS THAT THEY ARE ADVERTISING ONE POSITION BUT IN A GROWING COMPANY, THEY GET YOU A PAPER FOR THAT POSITION, THEY MIGHT SEE SHE IS NOT THAT EXPERIENCED BUT WE NEED SOMEBODY IN A MORE JUNIOR LEVEL. SO I WOULD DEVIL DEFINITELY DO IT. >> THE OTHER QUESTION WE TYPICALLY GET, IT SAYS IT WANTS A MASTERS OR BACHELORS AND I HAVE A PTD BUT I WOULD BE THRILLED WITH THIS JOB. SHOULD THEY APPLY? >> I THINK IF WE WERE GETTING A RESUME OR CV AND SPECIFIED WE WANTED A OR THE MINIMUM REQUIREMENT WAS THE BS OR MASTERS AND WE GOT -- WE WOULD FEEL A Ph.D. WAS COMPROMISING HERSELF. THAT'S OUR OPINION. >> WHERE AM I GOING NEXT? >> SO YOU SAID MOST OF THE GROWTH IN PHARMA IS LIKE ASIA, SOUTH AMERICA, WHAT IS THE CONSEQUENCE OF THAT WOULD YOU SAY? >> I THINK THERE IS SEVERAL CONSEQUENCES. ONE IS THAT THE ALREADY GLOBAL -- MULTINATIONAL COMPANIES ARE GOING TO BE MOVING MORE PEOPLE INTO THOSE AREAS. THAT'S THE FIRST ONE. THE OTHER ASK THAT AS THOSE MARKETS GROW, THERE IS GOING TO BE MORE AND MORE START UPS IN THE BIERO TECH AREAS AND THAT KIND OF THING IN THOSE AREAS AS WELL -- IN THE BIOTECH AREAS. YOU HAVE TO REMEMBER, LOOKING AT GROWTH FIGURES, PART OF THOSE BARS ARE BECAUSE SALES ARE SMALL AT THIS POINT ANYWAY. BUT AGAIN, I THINK THAT IS WHERE THE OPPORTUNITIES ARE. >> SO YOU DID TALK ABOUT THINGS WE CAN DO TO PREPARE FOR THIS JOB FOR INDUSTRY JOB. SO ONE THING THAT I HEARD FROM PEOPLE IS TO REYEAST FOR INFORMATIONAL INTERVIEW WITH COMPANIES -- REQUEST -- IS THAT SOMETHING THAT YOU WOULD RECOMMEND? HOW IMPORTANT OR HOW BENEFICIAL WILL THAT BE? I'M GOING ANSWER THAT AND THEN ASK MICHAEL TO DO THE SAME THING AND SO I THINK MY FIRST RECOMMENDATION IN THAT AREA THAT IF YOU'RE GOING TO DO INFORMATIONAL INTERVIEW, IS TO USE THESE SOURCES UP HERE TO TRY TO DEVELOP CONTACTS WITHIN THAT COMPANY. THOSE KINDS OF DISCUSSIONS I THINK CAN BE VERY PRODUCTIVE IN TERMS OF, THEY TEND TO BE INFORMAL. THEY TEND TO BE YOU ASKING QUESTIONS ABOUT WHAT IS GOING ON IN THE INDUSTRY AND IT GIVES THEM A CHANCE TO GET TO KNOW YOU AS WELL. TO GET TO KNOW YOU AS WELL AM ONE OF THE OTHER THINGS THAT ISN'T ON THERE BUT THAT I ALSO THINK IS GOOD, IS I THINK MANY OF YOU ATTEND CONFERENCES THROUGHOUT THE YEAR AND SO THOSE CONFERENCES ARE GENERALLY ATTENDED BY REPRESENTATIVES OF INDUSTRY AS WELL. SO WHEN YOU'RE AT THOSE CONFERENCES, IF HAVE YOU IDENTIFIED PARTICULAR COMPANIES, GO AND TALK TO THE PEOPLE THERE. >> I DONE KNOW ABOUT THE CONCEPT OF AN INFORMATIONAL INTERVIEW ANYMORE. SO MUCH INFORMATION IS AVAILABLE ON THE INTERNET AND BY OTHER MEANS THAT EVERYBODY IS SO BUSY THAT THEY ARE SPECIFICALLY FOCUSED IN MY EXPERIENCE ANYWAY, ON THE IMMEDIATE POSITION THEY WANT TO HAVE FILLED. SO I WONDER IF THEY VIEW THAT AS A MAS DERAID FOR AN ACTUAL INTERVIEW, IN WHICH CASE IT MIGHT AS WELL BE THAT. OR WHETHER THEY WOULD HAVE THE PEOPLE TO DEVOTE TIME TO IT. >> SO AT THE OITE WE STILL DO RECOMMEND INFORMED INTERVIEWS HIGHLY. AND THIS IS LIKELY MORE IN THE EARLY STAGES OF YOUR CAREER DEVELOPMENT. WHEN YOU'RE TRYING TO FIGURE OUT WHICH THE COLORED BOXES THAT BRAD HAD UP THERE, YOU WANT TO FIT INTO. NOT SO MUCH ONCE YOU'RE -- IF YOU'RE DOING INFORMATIONAL INTERVIEW AS THE JOB ADD IS COMING OUT, YOU'RE DOING THE INFORMATION INTERVIEW TOO LATE. YOU NEED TO PUSH IT BACK. THERE ARE GOOD REFERENCES ON THE CAREER SERVICES PAGE ON HOW TO DO THAT. WHERE AM I GOING NEXT? >> ARE THERE POSITIONS AVAILABLE AND WHAT KIND OF POSITIONS FOR SOMEONE WITH MODELING BACKGROUND AND NOT NECESSARILY A STRONG BACKGROUND IN A PARTICULAR AREA OF BILEY? >> THERE ARE, I THINK THERE ARE CERTAINLY OPPORTUNITIES THERE IN BIOSTATISTICS IS THE ONE THAT COMES TO MIND. SO AROUND MODELING NOT STUDY DESIGN BUT STUDY ACCURACY AND THERE ARE OPPORTUNITIES THERE. AND THERE ARE TREMENDOUS OPPORTUNITIES IN SOME OF THE PROVIDERS. SO SOME OF THE CONSULTING GROUPS AS WELL WHO DO A LOT OF THAT KIND OF WORK. >> MANY OF US HAVE DIFFERENT RESEARCH DATA. HOW DOES IT EFFECT HIRING? FINDING IT DIST TO GET INTO INDUSTRY? >> IT'S COMING TO ME, ISN'T IT? >> YES. >> I'M THE WINNER WINNER CHICKEN DINNER THAT ONE. SO IT IS A CHALLENGE AND I WON'T DENY THAT IS NOT A CHALLENGE FOR OUR VISITE FELLOWS AND RESEARCH FELLOWS. THE BIGGEST CHALLENGE FOR FOLKS WHO ARE ON VISAS AND WOULD LIKE TO STAY IN THE UNITED STATES IS THAT YOU TALK TO DIS EARLY AND GET AN UNDERSTANDING OF WHAT IT TAKES TO FILL OUT THE PAPERWORK, AND THE NIH IS NOT TYPICALLY KNOWN FOR HOLDING THINGS UP, BUT SOMETIMES THE HOLDUP COULD BE IN YOUR HOME COUNTRY. THE NEXT THING TO WATCH WHEN THE VISAS ARE OPEN. AND TIEING YOUR JOB SEARCH ACCORDINGLY. YOU KNOW THAT THE H1Bs IS A QUOTEY AND IF YOU'RE LOOKING OUTSIDE OF THE QUOTA TIME, IT'S VERY CHALLENGING TO GET A COMPANY TO HIRE YOU. COMPANIES WANT TO HIRE AND YOU BRING YOU ON WITHIN TWO WEEKS. HONESTLY. SO THE CHANNEL IS, MOST OF US HAVE GONE THROUGH AN ACADEMIC SYSTEM WHERE THE JOB SEARCH TAKES A YEAR LONG PROCESS. SO IN ACADEMICS, YOU APPLY IN THE FALL. YOU INTERVIEW IN LATE WINTER AND EARLY SPRING AND THEN YOU GO TO THE JOB, THE FOLLOWING FALL. IT'S A FULL YEAR LONG. THAT'S NOT CHUR IN INDUSTRY. THE JOBS ARE OPEN EVERY DAY. SO THE JOB CAN OPEN TOMORROW. YOU COULD HAVE AN INTERVIEW IN TWO WEEKS AND THEY WANT YOU TWO WEEKS AFTER THAT. SO IT'S -- COMPANIES WON'T WAIT. THEY NEED TO FILL A SLOT. IF YOU'RE NETWORKING EARLY, YOU KNOW WHEN JOBS ARE COMING UP AND GOING ACROSS THAT YOU FIT INTO, YOU HAVE A LOT BETTER CHANCE OF SUCCESS THAN WHAT I LIKE TO CALL THE ONLINE BLACK HOLE. WE'LL TAKE TWO MORE AND THEN SWITCH TO THE RESUME PORTION. >> MY QUESTION IS RELATE THE TO THE EXPERIENCE AND BLACK HOLE FOR ENTRY-LEVEL Ph.D. BUT RELATED TO THAT IS YOU HAD ALL THESE DIFFERENT BOXES BUT I GET THE IMPRESSION MOST YOU HAVE TO HAVE COMPANY INDUSTRY EXPERIENCE AND THEN MOVE INTO THESE DIFFERENT AREAS AND FOR A Ph.D. TRAINED PERSON IS THE ONLY ENTRY ROUTE AND USUALLY RND SPECIFICALLY AND THEN START HAVE OPTIONS TO MOVE TO REGULATORY AND WHATEVER TELLS MAY BE. >> AND I THINK THE ANSWER TO THAT QUESTION IS THAT WHILE YES, THEY LOOK FOR EXPERIENCE, THERE ARE A LOT OF -- YOU ARE GETTING A LOT OF EXPERIENCES THAT THEY ARE LOOKING FOR RIGHT HERE. SO, SOME OF THESE YES, IF YOU'RE LOOKINGA PROJECT MANAGEMENT, FOR EXAMPLE, THAT IS SOMETHING THAT TENDS TO BE SOMETHING THAT YOU WOULD MOVE INTO THE COMPANY AND PROJECT MANAGEMENT TRAINING AND MOVE ON. MANY OF THESE POSITIONS AND THE ONES THEY TALK ABOUT THE EXPERIENCE, A LOT OF THE EXPERIENCE THAT YOU HAVE CAN BE TRANSLATED INTO THE EXPERIENCE THAT THEY ARE LOOKING FOR. >> I KNOW THREE Ph.D. POSTDOCS WHO WENT INTO PROGRAM MANAGEMENT DIRECTLY FROM THE NIH OR OTHER POSTDOCS. WE'LL TALK BECOME THAT IN THE RESUME SECONDS TOO. ONE MORE. WE ARE GOING TO MOVE ON TO RESUMES. SO NOW THIS IS MY BAILIWICK IS TO TEACH YOU HOW TO DO A RESUME. IT'S SOMETHING I HAVE BEEN TEACHING FOR ABOUT 7 YEARS AND I SEEN A LOT OF RESUMES. SEE WE'RE GOING TO TALK ABOUT THE THINGS I SEEN THAT ARE GOOD AND SOME THAT ARE BAD AND SOME THAT I JUST WISH YOU WOULD DO. I HAVE HERE A HAND OUT THAT IS ALSO IDENTICAL TO THE LAST PAGE OF YOUR SLIDE DECK. FOR THOSE WATCHING ONLINE, THE SLIDE DECKS ARE AVAILABLE AT TRAINING.NIH.GOV UNDER EVENTS. WE ARE GOING TO MENTION THIS SPECIFIC JOB ADD BASED ON HOW TO BUILD A RESUME AND HOW YOU TALK ABOUT A COVER LETTER AND BASED ON A JOB AD ET CETERA. THIS IS A JOB AD AND A COVER LETTER EXAMPLE FOR YOU TO TAKE HOME. AND NOW A COUPLE OF THINGS BEFORE WE START TALKING ABOUT RESUMES. THE FIRST IS, A CAVEAT. WHEN I TELL YOU THE BEST KNOWLEDGE I HAVE BASED ON EXPERIENCE BUT IT'S NOT GOING TO BE PERFECT. BECAUSE EACH ONE OF YOU HAS A RESUME, YOUR OWN SPECIAL RESUME. THERE IS NO FORMULA. THERE IS NO INSERT THING HERE. OTHERWISE IT WOULD LOOK ALIKE AND WE WANT YOU TO BE ABLE TO SHOW EVERYONE WHO YOU ARE. AND ALSO EVERYBODY LOOKS AT A RESUME WITH DIFFERENT EYEBALLS. HOW I LOOK DAY RESUME, HOW BRAD LOOKS AT A RESUME AND HOW MICHAEL LOOKS AT A RESUME WILL DEPEND ON WHAT THEY ARE LOOKING FOR. I SPEND A LOT OF TIME ON THE PHONE WITH RECRUITERS HELPING ME TO UNDERSTAND WHERE THEY LOOK FIRST AT RESUMES. AND SO SOME IS MAKING SURE I HIT ALL OF THEM. EACH ONE TOLD ME SOMETHING DIFFERENT. SO DO YOUR BEST. THAT'S THE CAVEAT. THE SECOND PART OF THIS IS THAT -- SO WHAT IS A RESUME? MANY LIKELY SEEN A CV OR HAVE A CV YOU HAVE INHERITED A TEMPLATE FROM YOUR PI WHO INHERITED FROM THEIR PI WHO INHERITED FROM THEIR PI AND IT LOOKS THE SAME YEAR AFTER YEAR. A RESUME IS DIFFERENT. A RESUME IS BASICALLY A MARKETING DOCUMENT THAT IS BUILT ON THE JOB AD THAT YOU'RE APPLYING FOR. YOU WILL LIKELY HAVE A GENERIC RESUME THAT CAN GO OFF FOR A JOB ADD YOU REALLY DON'T KNOW ABOUT. BUT SPECIFICALLY, MOST OF THE TIME, RESUMES ARE BUILT TOWARDS A JOB AD THAT YOU'RE GOING AFTER. THAT MEANS THAT RESUMES ARE NOT A PLACE FOR YOUR ENTIRE LIFE HISTORY. WHICH IS WHAT A CURRICULUM VITAE MEANS, THE STORY OF MY LIFE. BUT IT REALLY IS WHAT YOU HAVE THAT FITS TO THE JOB. THAT MEANS YOU'LL PULL THINGS OFF AND PUT THINGS IN BASED ON WHAT THAT SPECIFIC COMPANY IS LOOKING FOR. NOT WHAT YOU THINK THEY -- YOU DON'T THINK THEY NEED TO KNOW EVERYTHING. YOU NEED TO LET THEM KNOW WHAT IS MOST IMPORTANT ABOUT YOU. THEY CAN BE REVERSE CRON LANGUAGE CALL. START WITH YOUR -- CHRONOLOGICAL. START NOW OR BE FUNCTIONAL WHERE YOU TAKE THINGS AND PUT THEM TOGETHER. LIKE ANYTHING YOU DID IN PROGRAM MANAGEMENT IS IN ONE SECTION OR EVERYTHING DID YOU IS MICROSCOPY IS IN ANOTHER SECTION. THOSE ARE NOT UNCOMMON BECAUSE PEOPLE STRUCK STRUGGLE AND START TO FLIP THINGS AROUND. SOY START WITH A REVERSE CHRONOLOGICAL IN EACH SEPARATE SECTION. THE BIGGEST THING ABOUT A RESUME IT IS IT NEEDS TO BE RESULT FOCUSED FOR INDUSTRY AUDIENCE. THIS IS NOT SCIENTIFIC RESULTS. I DID NOTE NEED TO KNOW WHAT HAPPENED IN THE LAST WESTERN BLOT THIS IS HOW YOU SHOWN AN IMPACT IN THE POSITION YOU ALREADY HAD. WE'LL TALK ABOUT THAT AS WE GO. THESE ARE COMMON SECTIONS OF A RESUME. AND THE THINGS THAT ARE IN ITALICS ARE DIFFERENT THAN WHAT YOU WOULD HAVE SEEN WITHIN A CV. CVs HAVE SIMILAR TYPES OF SECTIONS. YOU NEVER PUT A SKILL SECTION IN EYE CV THAT GOES OFF TO A ACADEMIC FACULTY POSITION. SKILLS SECTIONS ARE RESERVED FOR NONACADEMIC-TYPE POSITIONS. SO THE FIRST IS YOUR CONTACT INFO UP TOP. CONTACT INFO IS A LOT DIFFERENT THAN WHAT I WOULD HAVE TOLD I 7 YEARS AGO. JUST AN ADDRESS. A LOT OF PEOPLE ASK ME DO I NEED MY WORK E-MAIL BECAUSE IT'S MORE PROFESSIONAL OR USE MY GMAIL ACCOUNT? NOWADAYS IT DOESN'T MATTER. E-MAIL ADDRESSES ARE UNIVERSAL THAT YOU IF YOU WANTED TO USE YOUR GMAIL, IT'S FINE. I RECOMMEND YOU PUT THE MOBILE PHONE NUMBER. I CAN'T REMEMBER THE LAST TIME ANYTHING CAME THROUGH THE REGULAR MAIL THAT WAS JOB RELATED. IT ALL COMES THROUGH E-MAIL OR FROM THE TELEPHONE. IF YOU USE VOICEMAIL, CHECK YOUR OUT GOING VOICEMAIL, WHAT EVERYBODY ELSE IS GETTING TO MAKE SURE THAT PEOPLE CAN UNDERSTAND IT AND IT'S PROFESSIONAL. THE LAST THING YOU WANT TO SAY IS DUDE, I'M IN THE MOVIES, LEAVE A MESSAGE. BAD FORM. OTHER THING IS, IF YOU'RE PUTTING IN A E-MAIL ON YOUR RESUME, MAKE SURE IT'S A PROFESSIONAL E-MAIL ADDRESS AND NOT LIKE HOT FLY TICKET@D MAIL.COM. THE NEXT SECTION IS EDUCATION. AND WE'LL TEAR THIS DOWN FURTHER IN THE NEXT COUPLE OF SLIDES. FIRST A SUMMARY OF SKILLS STATEMENTS. PROFESSIONAL EXPERIENCE, TEACHING AND MENTORING EXPERIENCE, SKILLS, LEADERSHIP, FUNDING, HONORS AND AWARDS AND SERVICE AND LEADERSHIP AND PUBLICATIONS AND PATENTS GO TOGETHER F YOU'RE GOING AFTER AN INDUSTRY JOB YOU WILL STILL KEEP YOUR PUBLICATIONS ON YOUR RESUME. THEY LOOK TOWARDS YOUR PUBLICATIONS. SO THE ONLY TIMES I SEE PUBLICATIONS COME OFF IS WHEN YOU'RE MOVING TO A VERY FAR OFF THE BECH JOB. WHEN I TOOK MY FIRST JOB, I TOOK MY PUBLICATIONS OFF AND IT SAID FIRST AND SECOND AUTHOR PUBLICATIONS IN PEER-REVIEWED JOURNALS. THAT SAID, WHEN I CAME TO THE NIH, I WAS GOING TO BE INTERVIEWED WITH A BUNCH OF Ph.D.s. ALL THE PUBLICATIONS WENT BACK ON. PATENTS AS WELL. THE THING YOU'RE LIKELY NOT GOING TO HAVE HERE IS POSTERS. MOST OF THE TIME, ANYBODY BUT ACADEMICS DOESN'T CARE ABOUT THE POSTER PRESENTATION YOU GAVE AT THE NCI RETREAT. SORRY. INVITED TALKS. YOU MA I HAVE THOSE DEPENDING ON TYPE OF POSITIONS. REFERENCES ONLY IF THEY ASKED YOU FOR THEM. THIS IS ONLY A SUBSET OF THE DIFFERENT TYPES OF SECTIONS THAT YOU CAN ADD IN A RESUME. THERE IS ALL KINDS OF ADDITIONAL ONCE. COMMUNICATIONS ET CETERA. AM FIGURE OUT WHAT YOU THINK IS MOST IMPORTANT TO THE READER AND GO AFTER THOSE. SO THE FIRST THING AFTER YOUR NAME -- THE OTHER THING WITH THE RESUME, ON THE TOP OF THE YOUR DOCUMENT, TWO THINGS YOU TYPICALLY DON'T PUT. NUMBER 1 IS RESUME OR CV. IF THEY CAN'T FIGURE OUT THAT THIS DOCUMENT THAT LOOKS LIKE A RESUME OR A CV IS NOT A RESUME OR CV, THEY NIDE SERIOUS HELP. YOU WANT THE TOP THING THEY SEE TO BE YOUR NAME. NOT RESUME. THE OTHER THING IS, IN THE UNITED STATES, GET YOUR PICTURE OFF. IT'S NOT LEGAL -- IT'S NOT COOL IN THE UNITED STATES TO HAVE YOUR PICTURE ON YOUR RESUME. ADDITIONALLY THINGS LIKE YOUR BIRTHDAYS AND YOUR SOCIAL SECURITY NUMBER, ALL THAT WILL IN A TYPICAL RESUME HAS TO COME OFF. THERE ARE PLACE WHERE IS IT STILL HAS TO BE ON THERE BUT TYPICAL RESUME TAKE THEM OFF. SO THE FIRST THING THAT THEY ARE GOING TO LOOK AT IS SOMETHING THAT I LIKE TO CALL SUMMARY STATEMENT. NOW IT IS THE BEST AND EASIEST PLACE TO TELL THEM HOW YOU FIT THE JOB ADD. THINK ABOUT YOUR RESUME LIKE A NEWSPAPER. SO YOU PICKED UP "THE WASHINGTON POST." WHAT DO YOU READ FIRST? THE HEADLINES. SO THE HEADLINES ARE THE SECTION TITLES. SO THAT IS GOING TO DIRECT THEIR EYES TO WHAT IS MOST IMPORTANT. SO WHAT PART OF THE 'WASHINGTON POST' DO YOU READ FIRST? I HEARD IT. FRONT PAGE. WHICH PART OF THE FRONT PAGE? TOP 456. IT'S CALLED ABOVE THE FOLD IN NEWSPAPER LANGUAGE. YOU SHOULD THINK YOUR RESUME IN THE SAME WAY. THE TOP HALF OF THE FRONT PAGE IS THE MOST IMPORTANT REAL ESTATE YOU HAVE. AND THERE IS A REALLY COOL HEAT MAP I FORGOT TO BRING OF, THEY DID A HEAT MAP OF RECRUITERS LOOKING AT A RESUME AND WHERE THEY ARE LOOKING IT'S ALL SO IF YOU THINK ABOUT THIS AS A BLANK PIECE OF PAPER, IT STARTS HERE AND VERY, VERY RED AND VERY, VERY RED ALONG THIS LEFT EDGE AND THEN IT GETS SMALLER AND SMALLER. WHAT THEY ARE READING IS THE TOP PORTION OF YOUR RESUME. YOU NEED TO MAKE SURE YOUR DOCUMENTARY FLEX THE BEST YOU IN THE TOP HALF OF THE DOCUMENT. IN THE OLD DAYS, YOUITUDES HAVE THIS THING CALLED OBJECTIVE STATEMENT. AND IT READ SOMETHING LIKE THIS: NOW DO YOU LIKE IT? THUMBS UP AND THUMBS DOWN. DO SOMETHING. I'M NOT GOING ALL -- DOING ALL THE WORK TODAY. GOOD T SUCKS. MY MOTHER WOULDN'T LIKE IT IF I SAID THAT WORD. SORRY, MOM. THAT'S A BAD THING. THESE DAYS, THIS IS A WASTE OF SPACE. YOU HAVE JUST WASTED THE BEST REAL ESTATE IF YOU PUT SOMETHING LIKE THAT THERE. INSTEAD, WE RECOMMEND SOMETHING LIKE A SUMMARY STATEMENT AND THIS GOES DIRECTLY TOWARDS THE JOB AD THAT I JUST HANDED YOU. SO THIS IS THE PROTEIN BIOCHEMIST WITH 10 YEARS EXPERIENCE MANAGING RESEARCH AND ADMINISTRATIVE TASKS. THIS SPECIFIC JOB AD ASKED FOR SOMEBODY WHO CAN DO IN VITRO PROTEIN SYNTHESIS AS WELL AS RNA BIOLOGY AS WELL AS DOING ANALYSIS COORDINATION, LOOKING AT A TEAM, ET CETERA. SO, SIX YEARS EXPERIENCE IN IN VIVO PROTEIN SYNTHESIS INCLUDING SELECTIVE LABELING TO IMPROVE GROWTH. STRONG EXPERTISE INENCEMATIC ESSAYS AND STRONG ATTENTION DETAILS AS SEEN BY SUCCESS IN BOTH THE LAB AND COMMITTEE MEMBER. I FIND THAT ONE OF THE HARDEST ONES TO RELATE TO IN A JOB AD WHEN THEY HAVE ASKED FOR A STRONG ATTENTION TO DETAIL. HOW IN THE WORLD ARE YOU SUPPOSED TO SHOW THEM THAT. SO YOU JUST KIND HAVE TO TO GIVE THEM ENOUGH THINGS TO TELL THEM THAT YOU DON'T HAVE ANY ESPECIALLY ERRORS OR ANYTHING LIKE THAT. COMMUNICATION SKILLS AND SPEAKING TO TECHNICAL AND NONTECHNICAL AUDIENCES. AND THEN DEEPER FURTHERING YOUR RESUME AND COVER LETTER. 4-6 BULLETS HERE TO TELL THEM WHY YOU'RE COOL. WHO IS THIS? GOT A GUESS? THAT'S ME. THIS IS ME AS A LEFT POSTDOC LAND. THIS IS ALSO EXAMPLES OF MY RESUME, MY TECHNICAL RESUME AND NONTECHNICAL RES MAYO LINE AT THE OITE WEBSITE YOU CAN DOWNLOAD. I DON'T WANT TO SEE THESE WORDS AGAIN. I CAN'T TELL YOU HOW MANY TIMES YOU PLAGUERIDES ME AND LOOK LIKE MY RESUME. USE YOUR OWN DARN WORDS. CARRY ON. SOAPBOX IS DONE. CHAPT GIVE YOU MORE INFORMATION ABOUT WHY I'M COOL FOR THIS JOB AND WHY I SHOULD BE HIRED? JUST SMILE AND NOD. EDUCATION IS TYPICALLY THE NEXT SECTION. EDUCATION IS TYPICALLY GRAD SCHOOL THROUGH UNDERGRAD GOING BECOME AWARDS. REMEMBER GOING REVERSE CHRONOLOGICAL. TYPICALLY YOU DON'T NEED TO GIVE THEM THE EXACT DATE YOUR DEGREE WAS CONFERRED. THE YEAR ALONE IS FINE. OTHERWISE YOU'RE STARTING TO MINCE DOWN TOO FAR INTO THE WEEDS. KEEP IT UP IN THE HIGH END OF THE FORREST. DON'T FORGET THE DEGREES YOU GOT AND THE DATES YOU RECEIVED THEM. THIS IS NOT A PLACE IN YOUR EDUCATION SECTION TO ADD FAES COURSES, ADDITIONAL COURSE WORK YOU TOOK AT GEORGETOWN, COLD SPRING HARBOR LAB COURSE YOU TOOK, ANYTHING FROM THE OITE, THAT CAN GO INTO ADDITIONAL TRAINING. THIS EDUCATION SECTION IS REALLY SPECIFICALLY FOR THOSE DEGREE GRANTING INSTITUTIONS YOU HAVE GONE THROUGH. THE NEXT THING IS I HAVE A NOTE ON ADDITIONAL TRAINING. SO IF YOU THINK ABOUT A LOT OF TIMES I GETTIZE RESNAY COMES ACROSS MY DESK WHO TELLS ME ABOUT THE COLD SPRING HARBOR LAB COURSE WORK THEY DID 10 YEARS AGO ON ELECTRON MICROSCOPY. THAT'S FANTASTIC. I'M GLAD YOUUENTED UP TO A VERY NICE PLACE UP IN LONG ISLAND TO LEARN THIS 10 YEARS AGO BUT IF YOU'RE TELLING ME ABOUT A TRAINING DID YOU 10 YEARS AGO, NUMBER 1, I HOPE I CAN SEE IT IN YOUR PUBLICATION RECORDS THAT YOU USE THAT TRAINING AND NUMBER 2, IN 10 YEARS, IT DOESN'T LOOK ANYTHING LIKE IT DID 10 YEARS AGO WHEN YOU YOU WERE IN LONG ISLAND. DOES IT RELATE WHAT YOU'RE DOING IN THE JOB YOU'RE GOING AFTER? BE JUDICIOUS THAT IT WILL BE RELEVANT TODS THE JOB YOU'RE HEADING AFTER. TYPICALLY THE NEXT SECTION IS RESEARCH EXPERIENCE OR WORK-RELATED EXPERIENCE. AND THE BIGGEST CHALLENGE I HAVE SEEN WITH POSTDOCS AND GRADUATE STUDENTS MOVING ON FROM THEIR POSITIONS HERE AT THE NIH, WHEN I TALK INDUSTRY RECRUITERS, THE RECRUITERS WILL TELL ME OR THE HIRING MANAGERS WILL TELL ME, THE SCIENCES HAVE A HARD TIME PUTTING WHAT THEY ARE DOING INTO PERSPECTIVES. THEY GIVE ME TOO MANY DETAILS ABOUT WHAT THEY ARE DOING AND NOT ENOUGH OVER ARCHING UNDERSTANDING OF HOW THEIR RESEARCH FITS INTO THE GLOBALNESS OF SCIENCE I WANT TO MAKE SURE WHEN YOU'RE TALKING ABOUT YOUR RESEARCH AND WORK-RELATED EXPERIENCES, I DO X TO UNDERSTAND Y. ALWAYS IN THAT FORMAT. SO HERE IS AN EXAMPLE. WHAT I DID AS A POSTDOC. EXAMINE THE FIDELITY OF -- AND THEN THE RESULT WAS -- [ READING ] ONE CHAMP OF A WAY TO SHOW HOW YOUR WORK FITS IN TO THE OVERALL SPECTRUM OF SCIENCE. NOT, I STUDIED BLAH, BLAH, BLAH. NOBODY CARES. IT'S SO DOWN AND DETAILED INTO THE WEEDS. YOU JUST WANT THEM TO WORK YOU DON'T CARE HOW MANY METAL IONS ARE PARTICIPATING. OTHER THINGS IS, DO YOU PUT YOUR ADVISOR HERE? ONLY IF YOUR ADVISOR IS KNOWN IN THE COMMUNITY THAT YOU'RE APPLYING TO. WE'LL TALK ABOUT THAT GENIN A LITTLE BIT. BUT YOU ARE TRYING TO RIDE ON YOUR OWN CREDENTIALS IN THE ON SOMEBODY ELSE. IN ACADEMICS PUT YOUR ADVISOR THERE ALMOST ALWAYS ON A CV. WITH YOU'RE MOVING INTO THE OUTSIDE WORLD OF ACADEMICS, RIDING ON YOUR OWN GOODS. SO, ONLY IF YOUR ADVISOR AND YOU NEED A NAME DROP. A LOT OF PEOPLE WILL TRY TO THINK ABOUT THEIR RESEARCH EXPERIENCE AND THEN ADD THE SKILLS THEY USED IN THEIR RESEARCH EXPERIENCE HERE RIGHT UNDER THAT. SO TALK ABOUT THIS POSTDOC AND IN THAT SECTION ADD SKILLS. THEY'LL TALK ABOUT GRAD WORK AND ADD SKILLS. WHAT HAPPENS IS THERA S. A LOT OF OVERLAP BETWEEN THOSE ESPECIALLY I'M A DNA PROTEIN BIOCHEMIST AND DIWORK AS A GRAD STUDENT AS I DID AS A POSTDOC, I JUST SWITCHED FIELDS. I SWITCHED TOPICS. IT LOOKED REALLY REDUNDANT. SO, I RECOMMEND YOU PULL THAT OUT AND PUT INTO A SEPARATE SKILLS SESSIONS. LET'S GOT THROUGH THESE SKILL SECTIONS. THE FIRST BELLE TALK ABOUT IS YOUR SCIENTIFIC SKILL SET. YOU'LL ADD IN THIS SET BASED ON THE TYPE OF JOBS THAT YOU'RE GOING AFTER. IF YOU'RE GOING AFTER THAT PROGRAM MANAGEMENT JOB, YOU MAY NOT CARE THE FACT THAT YOU CAN RUN A WESTERN BLOT. ONE THING I DON'T SEE SO MUCH ANYMORE IS THAT IT USED TO BE A LAUNDRY LIST OF EVERY TECHNIQUE YOU EVER DONE AND IT WAS ALL JUMBLED UP AND I COULDN'T FIGURE OUT HOW IT WORKED. SO I NEED TO YOU FOCUS ON STARTING TO COMBINE THINGS. SO WHAT ARE YOUR BIOCHEMISTRY TECHNIQUES WHAT ARE YOUR CELL BIOLOGY ET CETERA. PUTTING THEM IN SOME KIND OF ORGANIZED FORMAT TO DIRECT THE READER'S EYE. YOUR WHOLE GOAL HERE IS TO MAKE IT EASIER ON THE READER TO FIGURE OUT WHAT YOU CAN DO. AND THE OTHER THING IS TO MAKE SURE THAT YOU'RE USING THE WORDS, EXACTLY HOW THEY PUT THEM IN THE JOB AD WHETHER YOU THINK IT IS SILLY OR NOT. TODAY WILL ASK IF YOU CAN RUN OFFICE, EXCELL, POWERPOINT. I HAVE YET TO MEET ANYONE WHO COULDN'T USE THOSE BUT IF THEY PUT IN THE JOB AD, PUT IT IN YOUR RESUME. THE OTHER THING TO USE THE WORDS, AS THEY HAVE WRITTEN THEM. BAUDS YOU NEVER KNOW WHO WITHIN THE HR DEPARTMENT HAS DECIDED TO INPUT THOSE WORDS INTO THE COMPUTER FILTER SYSTEM. YOU DON'T KNOW WHICH ONES THEY HAVE. LET'S USE PR -- PCR AS ANG EXAMPLE. SOME HIRING MANAGER SENDS TO HR, THIS WONDERFUL DESCRIPTION FOR A JOB ASKING FOR SOMEONE WHO CAN DO POLYMERASE CHAIN REACTIONS. ENTER. YOU GO THROUGH AND READ THIS JOB AND YOU'RE LIKE, HOTDOG, I CAN DO PC-N MY SLEEP! I THINK I CAN STILL DO PCR IN MY SLEEP 8 YEARS LATER. SO YOU GO AND PUT IN PCR. HAVE YOU MADE IT PAST THE COMPUTER FILTER? NO. BECAUSE THEY PUT IN POLYMERASE CHAIN REACTION. YOU KNOW THAT IT'S THE EXAMPLE SAME THING. THE COMPUTER MAY OR MAY NOT DEPENDING ON WHAT THE HR PERSON PUT IN. USE THEIR WORDS. PLAGUERIZE THEM JUST A LITTLE BIT. WE'LL TALK ABOUT THAT AGAIN HERE ARE OTHER SENSIONS FOR RESUME. HOLD THAT THOUGHT. HERE ARE OTHER SECTIONS FOR RESUME THAT YOU CAN AND MAY WANT TO USE BASED ON THE JOB THAT YOU'RE GOING AFTER. WE ARE GOING THROUGH SOME OF THE MOST IMPORTANT ONES FOR INDUSTRY JOBS. FIRST BEING TEAM SKILLS. YOU ALL INDIVIDUAL TEAM SKILLS. YES, I KNOW. YOU GO TO YOUR LAB BENCH, YOU SIT IN FRONT OF YOUR CENTRIFUGE ALL DAY AND DON'T TALK TO A SINGLE SOUL. WRONG. YOU DO HAVE SOME TEAM SKILLS. YES, YOU MAY NOT HAVE THE TEAM SKILLS TO TALK ABOUT A MATRIX TEAM OR YOU'RE TALKING TO PEOPLE FROM MARKETING, TALKING TO PEOPLE FROM REGULATORY AFFAIRS, YOU MAY NOT HAVE THAT BUT YOU HAVE TEAM SKILLS. I PROMISE. , ARE COMMUNICATION SKILLS. MANY PROBABLY HEARD ME SAY I NEVER SEEN A JOB AD THAT HASN'T ASKED FOR VERBAL AND WRITTEN COMMUNICATION SKILLS. EVER. DO YOU KNOW WHAT YOU PUT? EXCELLENT VERBAL AND WRITTEN COMMUNICATION SKILLS, PERIOD. I NEED MORE INFORMATION. WHAT DOES THAT MEAN TO YOU AND HOW DOES IT RELATE BACK TO THE JOB AD? COLLABORATION IS ANOTHER ONE DOES THAT MEAN I MADE SOMETHING WORK BETWEEN GRIPES WHO ARE NOT NEXT DOOR TO EACH OTHER? READERSHIP AND COMPUTER AND LANGUAGES. IF YOU SPEAK ANOTHER LANGUAGE THAT COULD BE BENEFICIAL. THAT IS FINE TO PUT ON YOUR RESUME. I HAD A CHINESE POSTDOC AND HE THOUGHT HE WANTED TO GO INTO TECH SUPPORT WE WORKED HARD TO BUILD HIS RESUME. I SAID, THINK ABOUT THE LAST TIME YOU CALLED TECH SUPPORT. WHAT WAS THE BEST THING ABOUT THAT CONVERSATION? WHAT DID THAT PERSON POSSESS? THEY KNEW WHAT WE WERE TALKING ABOUT. WE SPOKE IN CHINESE. I'M LIKE, DON'T YOU THINK THAT'S A VALUABLE THING. DEPENDING ON WHERE YOU'RING. SO WHAT ARE WE TO DISSECT THE TEAM AND I THINK WE'LL DISSECT ANOTHER ONE. IN THE BACK END OF THE SLIDE DECK THERE IS ADDITIONAL ONES THAT I DISSECTED OUT THAT IS JUST AVAILABLE FOR YOURYETIFICATION AND DELIGHT. I DON'T WANT TO GO THROUGH THEM ALL BECAUSE YOU'RE BE BOARD. TEAM SKILLS. WHAT I NORMALLY SEE. NOTHING. WHEN YOU'RE THINKING ABOUT INDUSTRY, THIS IS THE TOP THINGS YOU'RE HEARING FOR. WHAT CAN I SEE? WHAT SHOULD I SEE? PARTICIPATED IN LAB MEETINGS, EXCHANGED IDEAS AND CONSTRUCTION CRITICISM. ORGANIZED COLLABORATION. WHAT DID YOU DO? SET MEETING TIMES, AGENDAS AND PROMOTED SCIENTIFIC DISCUSSIONS AND INSURED DEADLINES WERE MET. INTEGRATED TEAM OF TWO BIOCHEMISTS AND NEUROSCIENCE TO FOLLOW CHALLENGES RESULTING IN CHANGE OF PROCEDURE -- YOU KNOW WHAT THIS WAS? I GOT TWO TECHS AND TWO UNDERGRADS AND NOW HOW AM I GOING TO SHOW THEY ACTUALLY GOT SOMETHING DONE? SO THAT IS WHAT THAT ONE IS. IT'S WORD SMITHING BUT JUST TAKING WHAT HAVE YOU DONE AND PRESENTING IT IN A WAY THAT THEY ARE GOING TO UNDERSTAND IT. IT'S NO DIFFERENT THAN TAKING YOUR SCIENCE AND PRESENTING IT TO YOUR MOM SO SHE CAN UNDERSTAND IT OR IF YOU'RE A NEUROSCIENTIST, TO PRESENTED IT TO ME WHO NEVER TAKEN A CLASS. OR OTHER THINGS LIKE THAT. IT'S TAKING YOUR WORDS AND DEVELOPING DEVELOPING IT HOW THEY ARE GOING TO UNDERSTAND IT. MANAGED FOUR TECHNICIANS AND THIRTY THREE UNDER GRADS AND PARTICIPATED IN HIRING NEW LAB PERM. THIS IS WHAT YOU DO TO MAKE YOUR TEAMWORK. THE LAST ONE I TOOK OFF IS PROMOTED LAB SOCIAL INTERACTIONS. YOU KNOW WHAT THAT MEANS? I BOUGHT THE BIRTHDAY CAKES. AUTO ALL ABOUT THE TEAM. IT'S UNDERSTANDING THAT IT'S NOT JUST ABOUT THE RESEARCH IT'S ALSO ABOUT THE PEOPLE. THIS IS ONE WE HAVE TAKEN. A LOT OF PEOPLE WILL SAY, BUT LORI, I WANT TO GO IN TO REGULATORY AFFAIRS AND ALL I HAVE DONE IN THE SIX YEARS I HAVE BEEN A POSTDOC IS DEVELOP A TRANSGENIC MOUSE MODEL. HOW CAN YOU TAKE OR DEVELOP THE TRANSGENIC MOUSE MODEL AND MORPH IT INTO THE DIFFERENT TYPES OF JOBS YOU COULD GO AFTER IN INDUSTRY. AND I HAVE TO THANK A FORMER COLLEAGUE FOR THESE. IF YOU WANT TO GO INTO R&D AND RESOLVE PUBLICATIONS AND 6 MILLION DOLLARS IN GRANT FUNDING. YOU IMPLEMENTED A PLAN BECAUSE PROJECT MANAGE CEMETERY HOW TO LOOK AT THINGS ACROSS-THE-BOARD AND OVER TIME. AND ALSO MANAGING THE MONEY. AND THE PEOPLE AND NOT JUST MY GROUP BUT THE CORE FACILITY AND EXTERNAL PARTNER, THE SAME THING. YOU WANT TO GO INTO REGULATORY AFFAIRS, YOU HAVE TO TALK TO THE COMMITTEE, BIOLOGICAL SAFETY COMMITTEE AND GOT TO KNOW THE DOCUMENTATION. BECAUSE REGULATORY AFFAIRS ABOUT DOCUMENTATION. DOTTING YOUR Is AND CROSSING YOUR Ts. SEE HOW WE ARE MORPHING? THIS IS ANOTHER ONE I SEE ON RESUMEES FROM POSTDOCS AND GRAD STUDENTS. I MENTORED THREE UNDERGRADUATE STUDENTS. THAT MEANS NOTHING IN INDUSTRY. IT MEANS THAT IS VERY NICE. DID YOU SAY, YOU KNOW, I THINK YOU SHOULD TAKE BIOCHEMISTRY 201 INSTEAD OF BIOCHEMISTRY 203? NO. THAT IS NOT WHAT YOU GUYS MEAN AS MENTORING. MEMBERSHIP TORRING AND UNDERGRADUATE TO YOU IS ABOUT PROJECT DESIGN -- MENTORING. DEVELOP TOWARDS THE ABILITY OF THE PERSON THAT IS COMING IN. GETTING THE PROJECT TO FINISH AND MAKING SURE THAT SERVING IN PLACE FOR A PERSON WHO IS NOT AN EXPERT. IT'S ALL ABOUT MANAGING AND SUPERVISING ANYWHERE ELSE IN THE WORLD BESIDES ACADEMICS. SO HOW DO YOU MORPH THAT? RESPONSIBLE FOR HIRING SUPERVISOR AND PERFORMANCE REVIEW OF THREE JUNIOR SCIENTISTS. IT'S A PROGRAM MENTOR FOR UNDERREPRESENTED GROUPS. YOU WANT TO GO INTO CONSULTING? THEY TALK IN BIG WORDS. USE EXPERTISE TO ASSIST YOU IN PROBLEM-SOLVING. YOU SEE? DOING SOMETHING EVERY ONE OF YOU DO WITH THE SUMMER INTERN. MORPH BASED ON THE TYPE OF JOB YOU'RE GOING AFTER. AND IF YOU HAVE NOT HAD A SUMMER INTERN YET, THIS IS THE SUMMER. THEY ARE COMING. WE GET 1000 OF THEM IN THE SUMMER AND IF THIS IS THE TIME ARE OF YEAR YOU HIDE UNDER THE LAB BENCH WHEN YOUR BOSS COMES AROUND ASKING WHO WANTS TO TAKE UP THE SUMMER INTERN? IT GIVES YOU VALUABLE EXPERIENCE THAT CAN BE TRANSLATED TO ANY JOB YOU GO INTO DOWN THE ROAD. I'M GIVING YOU EXAMPLES HOW TO BUILD YOUR SKILL SETS. SOME EXAMPLES OF WHAT RESUMES SHOULD AND SHOULD NOT HAVE ON THEM. LET'S TALK ABOUT MAKING SURE YOUR DOCUMENT IS THE BEST DOCUMENT IT CAN BE. IN REVERSE CHRONOLOGICAL ORDER, BE SPECIFIC AND AVOID JARGON. Y'ALL ARE AT THE NIH. YOU CAN SAY AN ENTIRE SENTENCE IN ACRONYMS AND PROBABLY THE PERSON NEXT TO YOU, SO I WENT TO OD TO GO GET THE GS35 AND THEN I RAN OVER TO OIT. AND BUILDING 45 -- YOU UNDERSTAND THAT RIGHT, KIND OF? EXCEPT FOR THE MIDDLE ONE? YOU HAVE TO TELL THEM IN LANGUAGE THAT THEY UNDERSTAND. NO ONE OUTSIDE OF THE NIH SYSTEM KNOWS WHAT AN IRTA OR SERTA IS. CALL YOURSELF A POSTDOC. USE WORDS PEOPLE WILL UNDERSTAND. ESPECIALLY WHEN YOU GET INTO THE TECHNICALITIES OF YOUR STUFF. USE WORDS TO HIT THEIR KEY WORDS AS MUCH AS CAN, USE QUANTIFIABLE MEASURES. REMEMBER WHEN WE WERE TALKING ABOUT TRANSGENIC MOUSE LINE? 3.6 MILLION DOLLARS. HOW MANY PEOPLE THAT YOU WILL KIND OF STUFF. BE AS QUANTIFIABLE AS YOU CAN. USE ACTION-PACKED VERBS. IF YOU DON'T KNOW WHAT THAT MEANS, GOOGLE RESUME VERBS. AND PICK A FEW. VOY SEEN SO MANY RESUMES. EXPERTISE, EXPERIENCE, EXPERTISE, THAT'S WHAT ALL SIX OF THE TOP BULLETS SAY. I PROMISE YOU THERE ARE MORE VERBS OUT THERE. PROMISE. IF YOU'RE GOING TO EUROPE OR ANY OTHER COUNTRY MAKE SURE YOU UNDERSTAND WHAT THE RESUME SYSTEM IS FOR THE COUNTRY YOU'RE APPLYING IN. HERE WE DON'T SIGN THE BOTTOM OF OUR DOCUMENT. OR PUT OUR DATE OR PUT ON PICTURES. IT'S JUST NOT WHAT WE DO IN THE UNITED STATES. BUT IF YOU'RE GOING TO FRANCE OR GERMANY, AND YOU WANT TO APPLY THERE, YOU HAVE TO KNOW THE LOCAL CUSTOM. SO GET IN TOUCH WITH THOSE. SPELLING AND PROOF READING. AS I SIT ON THE OTHER SIDE OF THE DISK, I PROMISE IF I SEE A SPELLING ERRORS, THAT IS THE FIRST THING THAT PUTS THAT THING INTO A ROUND FILE. I THROW IT IN THE TRASH. I DEPONENT CARE HOW SMART YOU ARE. THE REASON IS THAT SHOWS YOU HAVE NO ATTENTION TO DETAIL. REMEMBER BACK TO THE BEGINNING. HOW DO YOU SHOW ATTENTION TO DETAIL? BY BEING 100% PERFECT IN THIS DOCUMENT. ORGANIZE IT REALLY WELL. SO MAKE SURE THE READER UNDERSTANDS WHERE THEY ARE GOING. PUT YOUR NAME ON EACH PAGE OF THE DOCUMENT SO PEOPLE CAN KEEP THEM TOGETHER. ALSO RECOMMEND A PAGE X OF Y. OR WHATEVER. AND PERHAPS ON THE LAST PAGE, THE LAST TIME YOU UPDATED IT. PUT YOUR NAME IN THE FILE NAME. CAN'T TALE YOU HOW MANY I GET ACROSS NYE DESK ENTITLED RESUME.DOC. PUT YOUR NAME IN THAT. CONVERT IT TO A PDF SO IT DOESN'T MATTER WHAT COMPUTER THEY OPEN IT ON, IT DOESN'T GET MESSED UP WITH FORMATTING. IT ONLY WORKS IF YOU NETWORK. THAT'S NOT TO SAY ONLINE SYSTEM SYSTEM DON'T WORK. SO THAT MEANS OF THE PEOPLE IN THIS ROOM, WOBBLY TWO WILL GET A JOB FROM JUST THROWING YOUR RESUME INTO THE ONLINE SYSTEM. THE 80% OF YOU WILL GET JOBS THROUGH DOING THE WORK. FOLLOW-UP. TRY TO FIND A PHONE NUMBER. I WOULD HAVE LOST OUT ON TWO JOBS AT THIS POINTED IN MY CAREER IF I WOULDN'T HAVE PICKED UP THE TELEPHONE WHEN IT SAID NO PHONE CALLS PLEASE. IF YOU'RE A QUALIFIED CANDIDATE, THEY ARE NOT GOING TO TURN AWAY YOUR PHONE CALL. YOU KNOW WHY I WOULD HAVE LOST OUT? BOTH TIMES THEY WERE EXCITED TO MEET ME AND BOTH TIMES THEY E-MAILED FROM MY REQUEST AND WENT INTO MY SPAM FOLDER. SO, TWO THINGS, NUMBER 1, CHECK YOUR SPAM FOLDER. AND NUMBER 2, JUST FOLLOW-UP. WHAT IS THE WORST THEY ARE GOING TO DO? TELL YOU WE CAN'T TALK TO YOU? BOLDING CAN DETRACT THE READER. BULLETS, WHITE SPACE AND MARGINS. LET'S GO INTO COVER LETTERS AND I KNOW I'M SPEEDING THROUGH THINGS HERE. BUT YOU'RE SMART. YOU CAN HANDLE IT. COVER LETTERS TYPICALLY HAVE THREE PARAGRAPHS. THE FIRST PARAGRAPH IS HOW YOU FOUND THE JOB. DID YOU FIND IT ON NATURE? DID YOU FIND ON ON SCIENCE? FIND IT THROUGH YOUR CONNECTIONS? THROUGH YOUR NETWORK? HOW DID YOU FIND OUT ABOUT THE JOB? A COUPLE OF THINGS HERE. THE REASON YOU'RE DOING THAT IS TO HELP THE COMPANY UNDERSTAND WHERE THEIR MARKETING EFFORTS OF JOB PLACEMENT IS ACTUALLY WORKING. SO YOU'RE DOING IT AS A FAVOR TO THESE COMPANIES. THE SECOND THING YOU'RE NAME DROPPING AND GOING BACK TO THE PERSON AND IN AN INDUSTRY, SOMETIMES NONPROFIT, PEOPLE GET A BONUS. IF YOU GET HIRED AND STY FOR 6 MONTHS TO A YEAR. DON'T BE AFRAID TO TALK TO PEOPLE AND NETWORK. THEY COULD GET MONEY IF YOU GET HIRED. AND SOME BASIC INFORMATION ON YOURSELF. WHO YOU ARE. REMEMBER, AVOID THE ACRONYMS. THE SECOND PARAGRAPH IS WHERE I FIND MOST POSTDOCS MESS UP. THEY JUST TELL THEM WHAT THEY THINK IS THE COOLEST THING ABOUT THEMSELVES AND DON'T RELATE ANYTHING BACK TO THE JOB AD THAT YOU'RE GOING FOR. SO I'M LIKE, I LOOK AT THESE THINGS AND I'M LIKE, THAT IS LOVELY BUT YOU HAVEN'T TOLD ME HOW YOU DOCK X, Y AND Z, THE PRIMARY RESPONSIBILITIES OF THE JOB. SO YOUR JOB IN THIS SECOND PARAGRAPH IS TO COVER THAT. WHY ARE YOU INTERESTED IN THIS? WHY YOU WANT THIS PARTICULAR EMPLOYER? HOW YOU FIT THE POSITION AND MATCH THE WORDING DIRECTLY. USE THEIR WORDS. THAT'S WHAT THEY ARE CANDLING FOR. MOST RESUMES ONLY GET ABOUT A 10-30 SECOND GLANCE. YOU NEED REALLY FAST QUICKLY TO BE ABLE TO HAVE THEM PULL OUT WHAT THEY ARE LOOKING FOR. AND I'M GOING TO SHOW YOU THAT IN THE NEXT COVER LETTER. IN THE DEAR WHOEVER YOU'RE SENDING THIS TO, IF YOU CAN FIND, FIND THE NAME OF THE PERSON. THAT IS BEST. AND WATCH THE DEGREES. I CAN'T TELL YOU HOW MANY TIMES I GET E-MAILS TO Mrs. CONLIN. IT'S ONE OF MY BIGGEST PET PEEVES. GIVE ME MY Ph.D. BACK! ONLY PEOPLE THAT CAN CALL ME Mrs. CONLIN ARE MY SON'S TEACHERS. I'M Dr. CONLIN OR LORI. OR CONLIN. OR HEY YOU, Mrs. CONLIN MEANS YOU DIDN'T DO YOUR HOMEWORK. FIRST THING THAT WILL SEND YOU INTO MY TRASH FILE. I'M EASY TO FIND. SO IS EVERYBODY ELSE WITH GOOGLE. AND WHEN IN DOUBT, GO UP. YOU WILL RARELY EVER TICK SOMEBODY OFTEN BY CALLING THEM Dr. WHEN THEY DON'T HAVE IT. AM I WRONG? COME ON. YOU'RE GIGGLING ABOUT YOU YOU KNOW I'M RIGHT. SO HAVE YOU THIS IN FRONT OF YOU AS WELL. THIS IS A COVER LETTER THAT I WOULD HAVE WRITTEN TOWARDS THE JOB AD WE HAVE BEEN TALKING ABOUT ALL DAY. AND THEN I WANT TO SHOW YOU. IT'S NOT LONG. IT'S VERY SHORT. COVER LETTERS ARE A PAGE LONG I WANT TO POINT OUT A FEW THINGS. IT FIRST IS, I DROPPED MY BOSS'S NAME HERE. ANYBODY KNOW MARLENE? PROVES MY POINT. NOBODY KNOWS WHO SHE IS. SHE IS A VERY LOVELY WOMAN AND A NATIONAL ACADEMY MEMBER AND VERY, VERY GREAT IN HER OWN FIELD OF DNA PROTEIN BIOCHEMISTRY. BUT, NOBODY KNOWS HER. THAT SAID, THIS ORGANIZATION WOULD 100% KNOW HER. NEW ENGLAND BIOLABS KNOWS HER LIKE THE BACK OF HER HAND. HECK YES I'M GOING TO DROP HER NAME! IN THE SECOND PARAGRAPH I NAMED DROPPED MY COLLABORATOR WHEN I WAS A GRADUATE STUDENT. I WANT TO HIGHLIGHT THIS BECAUSE IF I'M NAME DROPPING PAULRIX HERE, WHY IN THE WORLD HAVE I NOW ADDRESSED THIS TO DEAR HIRING MANAGER? I SHOULD HAVE CALLED PAUL, ASKED HIM WHO WAS IN THE HIRING MANAGER, AND THEN DIRECTLY SENT THE DOCUMENTATION THROUGH THEM. THE NEXT THING HERE IS I'M IMPRESSED WITH THE ACADEMIC ATMOSPHERE OF RESEARCH AND DEVELOPMENT CENTERS. 100% TRUE. IF YOU LIKE ACADEMICS SO MUCH, WHY DO YOU WANT TO GO INTO INDUSTRY? SO BE CAREFUL WITH YOUR WORDING. II ACCEL AS SEEN BY. THE JOB AD EXPECTED FOR SOMEONE WHO CAN IMPROVE AND DEVELOP. IN OTHER WORDS THEY HAVE OR WANT TO KNOW ABOUT EXCELLENT ORGANIZATIONAL SKILLS. I HAVE EXCELLENT ORGANIZATIONAL SKILLS. AS SEEN BY. YOU CAN'T JUST PUT EXCELLENT ORGANIZATIONAL SKILLS. YOU HAVE TO GIVE THEM MORE MEAT TO THAT. BUT I USED THE WORDS THAT THEY HAVE USED DIRECTLY AND ESPECIALLY IF YOU DECIDE TO GO FOR A GOVERNMENT POSITION, IT'S MORE IMPORTANT. SO, YOU GUYS ARE GOING TO HAVE A LITTLE BIT OF HOMEWORK BEFORE OUR MARCH 4 SEMINAR. I WANT YOU TO FIND A JOB AD AND CREATE A RESUME THAT GOES TOWARDS THAT. BRING IT BACK ON MARCH 4 TO THE INCOME TALK AND WE'LL DO PEER REVIEW OF DOCUMENTS AND THE FIRST 5 PEOPLE TO TELL ME THAT THEY WANT THEIR DOCUMENT MAILED BY BRAD AND I, WE'LL DO THEM IN FRONT OF EVERYBODY ELSE TO SHOW YOU WHAT WE LIKE AND DON'T LIKE. IF I KNOW PEOPLE OUT THERE, I WILL PICK ON THEM TO GIVE ME THEIR STUFF FIRST. HERE ARE GOOD RESOURCES. A NEW THING CALLED MY IDP. IT'S A FANTASTIC ONLINE ASSESSMENT TO HELP YOU PICK WHICH OF THOSE COLORED BOXES THAT BRAD TALKED ABOUT. AN ADDITIONAL ONE FOR INDUSTRY JOBS IS A FOR PROFIT INDUSTRY SO YOU HAVE TO PAY FOR THIS ONE. BUT IT'S ALSO VERY GOOD ONLINE ASSESSMENT TO FIT YOU INTO INDUSTRY JOB. IF YOU'RE AN NIH TRAINEE HERE, COME TO THE CAREER CENTER. MAKE AN APPOINTMENT ONLINE TO MEET WITH BRAD DIRECTLY TO HAVE A CONVERSATION. AND FOR ANY GENERAL CAREER QUESTIONS OF ALL PATHS. 2 DOESN'T MATTER WHERE YOU'RE GOING. OUR BLOG THIS WEEK IS ON RESUMES. SO PLEASE JOIN THAT. THERE ARE FANTASTIC ARTICLES. SCIENCE CAREERS HAS GREAT STUFF, ESPECIALLY BY DAVE JENSEN. AMERICAN CHEMICAL SOCIETY HAS A GOOD CAREERS BLOG THEIR WEBSITE. THIS IS A BOOK THAT BRAD RECOMMENDED EARLIER. WE HAVE IT IN THE LIBRARY. A CAREER OPPORTUNITIES AND BIOFEC AND DRUG DEVELOPMENT AND ALTERNATIVE CAREERS AND 50s NONTRADITIONAL CAREERS FOR SCIENTISTS. ALL VERY, VERY GOOD BOOKS. BUT WAIT THIS IS MORE. FEBRUARY 11, I TALKED ABOUT THIS ONE. THERE SAID PAST VIDEOS ON INDUSTRY JOBS AND THIS IS A FUN ONE. INTERVIEWING OUTSIDE OF THE IVORY TOWER. WATCH ME GET INTERVIEWED BY THE HEAD OF HR OF METAMUNE AND THEN TEARING ME APART OF WHAT I DID WRONG IN MY INTERVIEW. AND ALSO CAREERS AND SPECIFIC INDUSTRIES. AND IF YOU GO TO LIKE SEPTEMBER OF 2009, OR SEPTEMBER OF 2010 OR SEPTEMBER OF 2011, THERE IS A RESUME WORKSHOP WITH SLIDES AND EACH ONE OF THOSE YEARS. AND YOU CAN FIND EXAMPLES OF RESUMES THERE AS WELL. THERE IS MORE GOODIES AT THE BACK OF YOUR SLIDE DECK JUST TO MAKE SURE YOU HAVE ALL OF THE INFORMATION. LIKE THIS IS MORE GOODIES. WITH THAT, I AM ALREADY A MINUTE OVER BUT WE ARE HAPPEN TO TAKE A COUPLE OF QUESTIONS -- HAPPY TO TAKE A COUPLE OF QUESTIONS ABOUT RESUMES OR CVs AND THEN WE'LL SHUT OFF THE VIDEO AND E-MAIL ME AT CONLIN@MAIL.NIH.GOV. DOES ANYBODY HAVE QUESTIONS ABOUT RESUMES? >> SO IN TERMS OF MATCHING THE WORDS, I HAVE A QUESTION ABOUT SOFTWARE. I'M A DEVELOPER WITH ONE STATISTICAL SOFTWARE PACKAGE. I KNOW A HALF DOZEN TECHNICAL PACKAGES AND DON'T ALWAYS KNOW THE EXACT ONE THEY ARE ASKING FOR. GIVE ME TWO WEEKS AND I COULD. HOW DO I ADDRESS THAT? >> AND THAT IS TRUE FOR ANYBODY. AND YOU MAY NOT KNOW THE EXACT SYSTEM THAT THEY WORK ON BUT YOU KNOW A LOT OF OTHER SYSTEMS WHETHER THAT IS PCR, ADD LEAPT VERSUS TECHNOLOGY OR A SPECIFIC PIECE OF SOFTWARE. PUT WHAT YOU HAVE THERE. DON'T LIE. LYING GETS UD NAILED. PROMISE. I SEEN PEOPLE LIE THEY ARE ALL YOU ABOUT DONE ON THEIR Ph.D. I NEVER SEEN SOMEBODY FIRED SO FAST IN MY LIFE. MORE QUESTIONS? >> [ INDISCERNIBLE ] >> INDUSTRY EXPERIENCE. BOTH BRAD AND MICHAEL COVERED THIS. IT'S TALKING THEIR LANGUAGE. YOU MAY NOT HAVE EXACTLY THAT YOU WORKED AT ADULENT ON YOUR RESUME BUT YOU TALKED ABOUT THE TEAM SKILLS AND THE COMMUNICATION SKILLS THWART IMPORTANT AND GO FROM THERE. >> USUALLY THE LENGTH OF THE REVIEW -- MORE THAN ONE PAGE. >> ABSOLUTELY. >> SO, AND YOU MENTIONED THAT THE FIRST PAGE ABOVE THE BORDER THING, THAT IS THE MOST IMPORTANT PART. SO IF YOU'RE APPLYING FOR A JOB FOR INSTANCE PROJECT MANAGER. WHERE SHOULD WE PUT RESEARCH EXPERIENCE OR EXCLUDE THAT? >> THAT'S A VERY GOOD QUESTION. FIRST YOUR RESMADE -- YOU HEARD IT ONLY HAS TO BE ONE PAGE. I CHALLENGE ANY Ph.D., M DO. GET IT TO ONE PAGE. THE ONLY TIME YOU'LL HAVE A ONE PAGERESS MAY IF YOU'RE GOING TO McKENZIE AND YOU FOLLOW THE GUIDELINES FROM THEIR WEBSITE. I SEE 2-3 PAGE RESUMES DEPENDING IF YOU HAVE PUBLICATIONS ON THERE OR NOT. SO IF YOU'RE GOING FOR A NON-BENCH JOB, WHERE SHOULD YOU PUT YOUR RESEARCH EXPERIENCE? I DON'T PUT FIRST, BUT I MAY CALL IT INSTEAD OF RESEARCH EXPERIENCE, I'LL CALL IT WORK EXPERIENCE. AND THEN I MAY HAVE A LINE IN THERE ABOUT MY RESEARCH BUT IT'S MORE ABOUT WHAT SKILLS DID I LEARN IN THIS SPECIFIC WORK EXPERIENCE? IT GOES TO THE JOB AT HAND. SO INSTEAD OF CALLING IT RESEARCH, I'LL DALWORK. THERE IS A GOOD EXAMPLE ON MY NON-TECHNICAL RESUME ONLINE AND HOW I ORDER THINGS. MY RESEARCH IS LAST. BUT IT IS STILL ON THERE BECAUSE IT'S A VALUABLE COMPONENT OF MY LIFE AND YOU'RE STILL GOING INTO A SCIENCE ENVIRONMENT. ONE MORE. >> SO THEN, WOULD WE NOT HAVE A SKILL SECTION? SO OBVIOUSLY IF IT'S LIKE A NON-TECHNICAL -- WE WOULDN'T HAVE -- >> YOU WOULDN'T HAVE A TECHNICAL SKILLS SECTION. >> DO PEOPLE IN OTHER JOBS HAVE OR DO THEY TALK ABOUT LIKE -- GREAT AT MAKING PRESENTATIONS? >> YES. HOLD ON, I'LL FIND ONE FOR YOU. AFTER WE'RE DONE I'LL PULL ONE UP. ANYTHING ELSE? THANK YOU FOR COMING. I'M GOING TO BRING UP A TECHNICAL AND NONTECHNICAL RESUME AND SHOW YOU THE DIFFERENCES IF YOU WANT TO STICK AROUND BUT THEY ARE ONLINE SO YOU DON'T HAVE TO. THANK YOU FOR JOINING US BY VIDEO CAST AND WE'LL SEE YOU ON MARCH 4 FOR THE NEXT SEGMENT. THANKS!