PhD Life Science Careers – A Day in the Life of An Analyst March 12, 2012Posted by UCL Careers Service in : Finance & IT, Industry Focus, Science & Engineering, career profiles , trackback
Originally posted at UCL Postgraduate Careers Blog
A guest blog from IMS Consulting Group:
My current project is in the area of Pricing and Market Access, which is one of three practice areas of IMSCG. As an analyst, I am also exposed to projects in Brand and Commercial Strategy (analysing commercial models and optimising brand strategy) and Strategy and Portfolio Analysis (pipeline forecasting, therapy area value assessments, pharmaceutical portfolio management). I enjoy the variety afforded by this broad competency model, as I learn more about a range of aspects relevant to the pharmaceutical industry.
I currently work with IMS colleagues in Cambridge, New York and San Francisco. This means that as soon as I wake up I need to check progress the US team has made while I’ve been sleeping! There is no “typical day” but currently, when I arrive at the office the first call I make is to the consultant I work with in Cambridge. We are in constant contact with each other to ensure that we can plan our time and manage our workloads as effectively as possible. Working with a consultant also provides a great level of support, as there is always someone to point me in the right direction and help me out. As a result I have been able to quickly pick up a wide range of skills and learn new methods of data retrieval and analysis.
Typically, we decide to work on slides for a client meeting next week and catch up later in the afternoon. I use the rest of the morning to research pricing and reimbursement regulations in several European Union countries, and do some more background reading on the therapy area. It really helps to have a good knowledge of the mechanism of a drug and disease it is intended to treat in order to create summaries of the treatment landscape to share with the wider team, and members of the client company who may not have been directly involved with the development of the drug.
After lunch with other analysts, I spend time talking to three aspiring analysts in a break between interviews. This is one part of my job I really enjoy, as quite clearly I remember being in their position – it gives them the opportunity to relax a little between case studies, and ask questions about the recruitment process, training and starting work. They are particularly interested to learn about training on the job, as they are from scientific backgrounds with little previous exposure to the business world. Luckily IMS is very strong in training – my first week was spent on an intensive consulting skills course, so I reassure them that they will quickly pick up the skills and knowledge they need to start contributing to projects.
Back upstairs, it’s back to work on preparing the presentation for our client. Mid-afternoon I lead a teleconference call with IMS colleagues in Italy and Spain to organize two day-long workshops with influential doctors in Milan and Barcelona. I take them through a presentation to give them background about the project and decide on final logistics. We are really lucky to have a good relationship with our international colleagues, as their local insight and contacts are a great help in making final arrangements. I finish around 7pm and prepare for tomorrow, as I will be travelling to the IMS Cambridge office for face-to-face meetings with the project team.
Rachel Rowbottom, IMS Consulting Group