Formula for growth
By Manu Kaushik August 17, 2007
With a broad spectrum of sectors using biotech applications, the sector has just the right prescription for growth in the next three to five years. Says Ronesh Puri, MD, Executive Access, an executive search firm: "The job market in the biotech industry will grow at around 40-50 per cent this year compared to 30 per cent last year." Since the industry is rapidly attaining critical mass, it needs professionals with strong background knowledge of biochemistry and microbiology. In clinical research alone, the industry needs around 10,000 professionals over the next three to four years. Says Rahul Nene, Practice Head, Stanton Chase: "There is a huge amount of venture capital and private equity entering the industry and this will open new avenues for growth."
Who's Hiring: Biocon, Avesthagen, GVK BioSciences, Nicholas Piramal, Ranbaxy and a host of players
Who're they hiring: PhDs, MScs in biochemistry and microbiology at the senior and middle level, and BScs in biology for fresher's level
At what level: At all levels including senior level (6-10 years of experience), middle level (3-4 years of experience) and fresher level
At what salaries: CEOs and functional heads command between Rs 70 lakh and Rs 1.2 crore p.a., while team leaders get between Rs 30 lakh and Rs 70 lakh p.a. At middle-manager level, the salaries range from Rs 15 lakh to Rs 25 lakh. A fresher can get around Rs 5 lakh p.a.
What are the numbers like: The industry needs around 15,000 professionals over the next three years.