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What Is A Good Industry To Get Into?

Posted by teribarrows on 7/20/2004 at 1:44 PM ET 125 Points

I'm going to be graduating in a year and am trying to pick a specific industry to focus my thesis on. I was thinking healthcare. What are some 'booming' industries I can get into?

Posted by teribarrows on 7/20/2004 at 2:24 PM Author

I'm a double major: Marketing and Journalism. I participate in a large number of extracurricular/leadership activities at my University (including initiating student-oriented Homecoming events). I've always had a desire to be in a career that I enjoy (that's why I've chosen the creativity of marketing) and a career in which I feel like I am doing some sort of 'good' (ie I don't want to promote the latest fashion or carbonated beverage, I'm more interested in service industries). I think that is why I'm thinking about healthcare. I currently am interning at a Hospital (in the marketing department) and enjoy what I am doing here. I like that I am working with patient satisfaction.

I know that healthcare is a huge field from drug companies to hospitals. I like the hospital end of it but don't know if there are many opportunities (marketing is usually on the bottom of a hospital's priority). Is there more opportunity with drug companies? Do I need any medical background?
Posted by Peter (henna gaijin) on 7/20/2004 at 2:38 PM Accepted

For the US:
- Health care definitely looks like it will have long term growth prospects. Some risks due to the way health care is funded.
- Biotech/Pharma also looks like tio should have strong growth, but also risk due to backlash to high costs of drugs.
- hard to say what the next new technology will be. Some people are saying that nanotech may be it. Wireless technologies (like WiFi) are doing well right now.

Outside of the US:
- If China can keep their growth going, there is a lot of growth possibilities there as a consumer market devlops. There are just sooo many people there.
Posted by Paul Copcutt on 7/20/2004 at 2:40 PM Accepted

As far as healthcare there is not a definite need for medical qualifications, but certainly for the drug companies a degree is a minimum.

To get in to marketing for a drug company the usual route is via sales working as a drug rep for a couple of years and then maybe in to marketing. The only other way I have seen people do it is with an MBA and being picked up from that, even then drug companies prefer you to have some sales exposure.

Certainly the drug companies offer a greater classic careers structure, larger marketing departments and the brand concept is what is taking over and with it comes the big budgets. In medical devices it is much more tactical marketing with small departments and smaller budgets and the companies are very much more sales driven.

There is limited money for marketing on the institution side and if there are going to be budget cuts at hospitals what department do you think will they come to first?

Good luck
Posted by teribarrows on 7/20/2004 at 3:16 PM Author

Thank you for all your comments. That is some good feedback to get me thinking a little more about the direction I wish to take.

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