Four key differences between academia and industry
‘Should I leave academia?’ is the first question that any academic who’s made the transition beyond academia will have had to answer.
Personally, I found answering this question a tough one.
Months of procrastination proceeded me eventually formulating the answer. During this time, I could easily identify the problems that I faced in my current academic career and why I should no longer be an academic (dwindling funding, a hypercompetitive environment leading to toxic workplaces, and a lack of opportunities etc.). But what I didn’t understand at the time, was whether or not a career in industry was going to be more optimal for me compared with academia.
Fast-forward seven years after making the transition to industry, I’m able to compare this latest chapter in my life back to my academic experience. And I’ve discovered there are at least four key differences between working in academia and industry. These insights would have been valuable to me seven years ago during my own career transition.
Understanding the four key differences between academia and industry will help you decide if a career transition from academia to industry is right for you…
FOUR KEY DIFFERENCES BETWEEN ACADEMIA AND INDUSTRY
1. Knowledge versus Profit
Academia is about generating and sharing knowledge, whilst industry is all about solving problems and making a profit: Knowledge versus profit creation if you like.
In academia, you strive to leave no stone unturned. Every question explored inevitably creates more stones to explore, and it’s important to explore every avenue and try to answer every question you can with certainty (or as close to certainty as is humanly possible with current technology).
On the other hand, in industry, you can’t afford to burn profit margins on activities that aren’t business critical. You need to understand when you have done enough to achieve the necessary results and not get sucked down unnecessary rabbit holes. Any more than business critical is an inefficient waste of resources and won’t be tolerated by the company’s leadership.
This fundamental difference between the two working environments creates a very different culture to navigate.
When you’ve transitioned from academia to industry, it can be challenging at first to understand where to draw the line between your understanding of the work and profit creation. But, with on-the-job training and mentorship, you’ll quickly learn how to strike a balance between researching the work you’re doing with the company’s need to make a profit.
2. Collaboration
In academia, whilst you might work in a research group comprising of your supervisor and some lab colleagues or collaborators, you’re ultimately working alone. The goal is to build your academic CV and become an expert in your field.
Everything from publishing papers to receiving grant funding is documented in your academic CV to demonstrate your impact. Furthermore, group leaders build teams to support the development of their own academic CVs.
Whilst academic researchers may work together to answer scientific questions, success in their field is built upon individual recognition.
On the other hand, in industry, you’ll find yourself embedded within a team that shares a common goal – driving profit for the company. Team structures comprise of multidisciplinary professionals bringing together their individual skills to achieve common goals. Whilst individuals bring their own expertise, the collective success of the team is what ultimately achieves the end results.
A consequence of this team approach is that whilst in industry you may receive recognition for individual achievements within the team, it is ultimately the team that takes credit for the success.
As an academic, you’ll take individual credit for your results within the wider scientific community. This is an important distinction that can take a bit of getting used to if you’re used to the autonomy of scientific research.
3. Project Management
Academic researchers have to be project managers as they design, execute, and disseminate the findings of their research. However, project management in academia is in my experience, a lot less structured than in industry.
Work in industry is classified as either being project-based or operational-based. Operational-based refers to ongoing activities that are essential to the functioning of the business (e.g. routine manufacturing and operations work).
Projects on the other hand have a predetermined start and end date, and a defined goal. In industry, professional project managers are often hired to take the responsibility for managing business critical project work.
Projects comprise of three components:
- Scope: The goal and workload involved in successfully completing the project
- Time: The total time invested in completing a project
- Cost: The resources required to complete the project, including manpower
Each of these components is interlinked, and any changes to one component will affect the other two. For example, if a project scope increases, time and/or costs will also need to increase. In industry, projects are tracked by these three components using tools such as Gannt charts.
Due to the financial implications, industry projects are rarely left to slip and drift on. Project managers are held accountable to this and will act to ensure projects are kept on track.
If you’re considering transitioning to an industry role, practicing to monitor your own research using a Gannt chart can provide valuable experience of industry-standard project management. It can also help improve efficiencies within your existing research projects.
4. The Career Ladder versus Lattice
Academia is one of the last bastions of the traditional career ladder (PhD-postdoc-associate professor etc.). But in industry most companies have ditched the ladder in favour of a more flexible approach towards career development – the career lattice.
In the past, all workers were expected to follow a vertical rung, moving from one role to the next with increased responsibility and higher pay. This rigid system suited hierarchical organizational structures, but many companies have realised that it’s not the most effective approach in terms productivity and employee retention.
Within individual departments there might be a structured career progression ladder. But many workers in industry are no longer constrained by departments, opting for secondments to increase their experience within a company.
Instead of following a strict path, industry workers are often encouraged to explore different roles, projects, and assignments that align with their own interests and the needs of the organization. This means that you can develop skills in multiple areas and move in different directions, rather than just up the ladder.
On a practical level, the career lattice system means you no longer have to stay in your department to grow. You can expand into various roles that broadens your understanding of how companies operate. It also helps employers retain talent, increasing employee engagement and productivity while reducing staff turnover.
However, the career lattice brings with it additional responsibilities. You need to take ownership of your career and actively pursue opportunities that align with your professional goals and lifestyle choices.
In my experience the career lattice empowers you to take control of your career development which is great, but you also need to be proactive in making it happen and not rely on your manager to take control of your progress.
Here I’ve highlighted four key differences between working in academia and industry:
- Whilst academia focuses on generating and sharing knowledge, industry prioritizes product/service delivery
- In academia, individuals work to build on their expertise and knowledge. In industry, teamwork drives collective success by sharing individual expertise to deliver profit
- Project management is less structured in academia than in industry. In industry, projects have defined milestones and are tracked using tools such as Gantt charts.
- Lastly, academia follows a traditional career ladder, while industry has a more flexible approach with the career lattice.
Understanding these differences can help you determine if a transition to industry is right for you.