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Reinventing Your Veterinary Career: Is Industry in Your Future (or Should It Be)?


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You have been reading the AVMA Journal diligently and notice there are ads for a position in your area in the veterinary industry. What to do? Your enjoy practice, but always wondered what else is out there. During this hour, we will talk about what types of jobs are available in industry, what qualifications are needed, and how to transition into the corporate world.

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Reinventing Your Veterinary Career: Is Industry in Your Future (or Should It Be)?

  1. 1. Reinventing Your Veterinary Career: Is Industry in Your Future? (or Should It Be)?
  2. 2. You have been reading the AVMA Journal diligently and notice there are ads for a position in your area in the veterinary industry. What to do? You enjoy practice, but always wondered what else is out there. During this session, we will talk about what types of jobs are available in industry, what qualifications are needed, and how to transition into the corporate world.
  3. 3. Learning Objectives: • Describe skills needed to transition from private practice to the corporate environment. • Explore opportunities available outside of traditional clinical practice.
  4. 4. Opportunities Outside of Private Practice • Government • Academia • Military • Non-Profit Organizations • Associations • Industry
  5. 5. What Is Veterinary Industry? Make products Offer services Pet Owners Veterinarians
  6. 6. Industry Companies • Pharmaceuticals • Vaccines • Medical Equipment • Medical Supplies • Pet Foods • Insurance • Laboratory/diagnostic services • Laboratory supplies/equipment * Veterinarians are hired in almost every business that makes, provides or sells these types of products and services.
  7. 7. Why Do Veterinarians Leave Practice To Work In Industry? • Looking for a new challenge (want to broaden skills) • Disillusionment • Allergies • Injury • Partial retirement • Better compensation/benefits or quality of life • More flexibility
  8. 8. Considerations: • Companies want to hire people who have a positive reason for change such as they are looking for a greater challenge or want to move to the business side. • Employers are not looking for those who just want to escape practice or are running away from something. • Transition to industry may require you to be farther away from working with animals. • You may feel that you are wasting your veterinary school if you are not in practice but you may actually have the opportunity to impact more animals.
  9. 9. “I realized I could do more good, and help more animals, by spreading the information about new treatments in veterinary medicine than I had done in 18 years of emergency medicine. I touch so many veterinarians and hopefully inspire them to do better quality medicine”. Dan Green, DVM Source: Career Choices for Veterinarians Private Practice and Beyond Carin A. Smith, DVM
  10. 10. Types Of Industry Job Opportunities • Professional Services • Pharmacovigilance • Regulatory Affairs • Sales and Marketing • Liaison / Cross functional • Business Development • Research and Development
  11. 11. Professional Services: • Positions exist for different species – Companion animal – Equine – Beef cattle – Dairy cattle – Poultry – Swine • Good entry level position in industry – Can advance to other jobs • Heavy travel – Can be up to 75% – +/- Company car or car allowance • Require 5+ years of private practice experience
  12. 12. Professional Services Is: • Providing product information to veterinarians • Giving seminars for sales staff and practicing veterinarians • Speaking about their organization’s products or services • Providing technical support to marketing • Providing technical training • Riding with sales reps
  13. 13. Veterinary Affairs Manager Responsibilities • Positioning the organization as a leader among the academic community and practicing veterinarians • Provide technical training and development of sales and distribution • Assisting on calls with key accounts • Delivery of technical presentations
  14. 14. Veterinary Affairs Manager Qualifications • Veterinary degree • MBA, advanced training and board certification preferred • 2-5 years practice or academic experience • Current veterinary license preferred • 1-3 years in industry • 1-3 years public speaking experience • Sales, communications or marketing experience • Excellent communication skills, presentation skills and computer proficiency required • Up to 80% travel including overnights and some weekends
  15. 15. Specialty Account Veterinarian Responsibilities: • Make sales calls and presentations – Boarded veterinary specialists in specialty referral hospitals throughout the region Qualifications: • DVM or related degree • P&L responsibility • Ability to effectively sell to boarded veterinary specialists • An outgoing confident individual is desired • Approximately 75% travel including overnights is required
  16. 16. Pharmacovigilance Responsibilities • Handle complaints about a product and follow up on the complaints. • Handle the reporting and tracking of these complaints. • Work with regulatory agencies on the reporting. • Work with a database such as PV Works.
  17. 17. Pharmacovigilance Veterinarian • Review adverse event and product defect claims for accuracy, completeness and consistency prior to being submitted to the Regulatory Affairs Group. • Apply regulatory knowledge to all Pharmacovigilance practices, assist with the formation of assessments in adverse event cases and ensure those assessments are included in the case report. • Collaborate with QA and Regulatory Affairs to analyze the trending results and will communicate results internally. • Assist US Regulatory Affairs and Quality Assurance in the generation of product reviews for submission and will assist Veterinary Technical Services.
  18. 18. Pharmacovigilance Veterinarian Qualifications • DVM or equivalent degree • 5+ years private practice/ clinical experience • Valid license to practice veterinary medicine in the U.S. • 1 year pharmacovigilance experience • Computer literate • Understanding of – companion animal veterinary medicine and practice – equine and livestock experience beneficial • Knowledge of current U.S. regulations relating to post- marketing product safety • 5% travel requirement – +/- international travel
  19. 19. Regulatory Affairs • In charge of all communications with appropriate regulatory body – FDA – EPA – USDA – Foreign regulatory agencies Example: • A regulatory affairs manager takes a new drug concept to the FDA and negotiates with the agency about the work that must be done to get it approved.
  20. 20. Senior Regulatory Affairs Manager Responsibilities • Provide leadership/direction – manage regulatory goals through interactions with federal and state regulatory agencies – Ensure all products receive regulatory approval – Post approval regulatory issues – Input on strategic planning as related to regulatory issues Qualifications • Advanced scientific degree (ex. DVM, PhD) • 7-10 years in industry • 3+ years in leadership capacity
  21. 21. Sales and Marketing Sales • Travel to potential buyers (veterinary clinics) – Present product information – Take orders • Well suited to people who enjoy working with people and travel Marketing • Present the company’s products or services to the veterinary profession • May include – Advertising – Promotions – Presentations • Requires some travel but not as much as sales
  22. 22. Specialty Sales Representative Swine or Bovine Responsibilities • Promote and sell products in the U.S. market • Provide technical support • Set up/perform product demonstrations • Build relationships with key opinion leaders • Respond to customer complaints Responsibilities (cont.) • Represent company at trade shows • Domestic and international travel required Qualifications • DVM degree • experience in Herd Production • Knowledge of the swine or bovine market in the U.S.
  23. 23. Senior Technical Service Veterinarian – Marketing Responsibilities • Collaborates with the Manager of Technical Services • Reviews marketing material for technical accuracy and trade appropriateness • Works with marketing – Marketing strategies – Advertisement – Product promotions for medical and technical accuracy – Develop technical product profiles – Participate in the technical aspects of product positioning • Act as medical authority – Scientific articles and presentations – Assist in technical product training
  24. 24. Senior Technical Service Veterinarian – Marketing Responsibilities • Review national animal health conditions • Advise senior management of specific requirements • Make recommendations toward present/future needs • Collaborate with the manager to aid in contacts with key opinion leaders in the Animal Health Industry through veterinary organizations and technical associations • Represent the company at technical associations • Keep abreast of scientific/political changes and will help to influence change
  25. 25. Senior Technical Service Veterinarian – Marketing Qualifications • DVM or equivalent degree • 5 years clinical practice experience • 3+ years industry experience and/or related business experience • Understand disease control, animal requirements • Ability to develop prevention programs • Strong organizational and communication skills • Ability to analyze research and diagnose serious animal health problems
  26. 26. Liaison / Cross Functional Positions • Trends – Particularly in large organizations – Veterinarians serving as a link or bridge between • Sales • Marketing • R&D • Technical services • Executive function • Veterinarians with a strong background in – business management, organizati onal skills – people skills
  27. 27. Marketing Liaison Veterinarian Responsibilities • Support for companion animal products – Marketing strategies – Product communication – Technical support • Interface with R&D and marketing to develop market support trials • Resource for pharmaco- vigilance department in handling difficult cases • Discuss/report adverse reactions, efficacy problems and formulation complaints. • Prepare/deliver technical lectures • Teach sales reps • Alert the business – Emerging diseases – New trends • Develop key opinion leader support • Attend trade shows
  28. 28. Marketing Liaison Veterinarian Qualifications • DVM degree • 3+ years of private practice work experience • 3-5 years of industrial experience • Expertise and key focus – Immunology – Vaccinology – Shelter medicine and/or diabetes • Excellent communication skills [verbal, written and listening skills] and presentation skills • Work effectively with cross- functional teams • Marketing experience strongly preferred • 30-50% travel requirements
  29. 29. Business Development • Look for potential new products • Make deals with other companies • Business degree is typical • Technical background is necessary
  30. 30. Director of Business Development • Foster relationships and negotiate deals with companies in the US and abroad • Track record in a business development leadership role with capabilities to manage and support all business development activities • Human or Veterinary Pharmaceutical experience required
  31. 31. Research and Development • Explore if you still want – hands-on work with animals – have an interest in clinical medicine • Many positions are open to veterinarians, although some require additional training.
  32. 32. Manager of Clinical Development Responsibilities • Develop and execute comprehensive plans for products in clinical development • Design and write study protocols • Select veterinary investigators to execute clinical trials • Oversee and monitor studies • Interpret study results • Write study reports • Prepare submissions to regulatory agencies • Provide support to commercial operations • Present results of studies to the scientific community
  33. 33. Manager of Clinical Development Qualifications • DVM and/or a PhD in an animal health related area • Good organizational and time management skills • 1+ years of experience in product development within or closely associated to the animal health pharmaceutical industry (preferred) • Self-motivated, possess good interpersonal skills and ability to lead and work within and across interdisciplinary teams. • Travel – Approx. 25% in U.S. – +/- limited international travel
  35. 35. Dr. Thompson • Education: - Bachelors in Chemistry/Biology - DVM • Associate Veterinarian • Account Manager/Consulting Veterinarian - Responsible for growth of sales territory, product support and educational training for veterinarians and team members • Professional Services Veterinarian - Supported regional sales team with technical product support, training and management of pharmacovigilance needs
  36. 36. Dr. Thompson • Director of US Professional Services - Led team of veterinarians to provide technical product support and training for the commercial business. • Regional Sales Director - Lead sales team strategies and business support for North Sales Region • Vice President of Companion Animal Business Sales - Lead US sales operations for companion animal business • Global Head of Professional Services - Leads and coordinates technical services information among the global business, supporting global Key Opinion activities and international project teams.
  37. 37. Dr. Hopkins • Education: - VMD - MBA • Research Assistant • Associate Veterinarian • Regional Technical Manager • Regulatory Affairs Specialist • Regulatory Affairs Manager - Responsible for new product approvals and product dossier maintenance, advised manufacturing, marketing and management on regulatory requirements.
  38. 38. Dr. Hopkins • Associate Director of Regulatory Affairs-US – Lead a team of Regulatory Affairs and Quality Assurance professionals through the separation from the larger R&D organization. • Senior Brand Manager – Managed a 30 million dollar brand. • Director, Regulatory Affairs-Canada, Quality Assurance and Pharmacovigilance • Head, Global Regulatory Affairs-Animal Health – Lead global team of Regulatory Affairs professionals in supporting the business by registering and maintaining products worldwide. • Head, Global Regulatory Affairs-Consumer Health – Lead global team of RA professionals to support consumer care products • Global Technical Brand Manager
  39. 39. Dr. Reuben • Education: - DVM • Private Practice • Professional Services Veterinarian - Develop and deliver sales presentations to associations, distribution and veterinarians. - Provide technical support at trade shows. - Author articles. • Director, Field Veterinary Services - Created and management department of field based veterinarians for sales support. - Developed sales presentations - Delivered presentations to veterinarians, technicians, trade organizations, distribution and animal owners - Interacted with R&D
  40. 40. Dr. Reuben • Director of Professional Services - Supervision of veterinarians and veterinary technicians - Provide technical support of product line - Responsible for pharmacovigilance - Track and report product trends to R&D and senior management • Director of Sales and Marketing - Responsible for sales - Director marketing budget and activities - Supervise National Sales Manager, Product Managers and National Account Managers - Indirect supervision of salespersons - Interact with R&D
  41. 41. Dr. Reuben • Director of Business Development - Role was to identify clinical and non-clinical third-party research opportunities - Review scientific literature and interact with leading researchers - Review and report emerging trends in veterinary practice - Identify and in-license new products and technologies - Coordinate research and marketing organizations for negotiation of all phases of agreements. • Executive Vice President - Provide organization strategy consulting with regard to infrastructure and sales force - Provide training on biological and pharmaceutical products - Provide input to Research and Development Strategies
  42. 42. How Do I Land a Job in Industry? • Need a resume – Must include • Name, contact information and job history in reverse chronological order • Skills and experience, special abilities, honors and awards, groups or associations to which you belong – Two pages at most • Networking or word of mouth – Talk to sales reps who come in your practice or other contacts you may already have in industry
  43. 43. How Do I Land a Job in Industry? • Attend industry meetings – Chat with exhibitors – Speak with other people in industry who are doing the job you would like to have – Invite them to lunch, ask if you can talk with them • Join the AACPPV – American Association of Corporate & Public Practice Veterinarians • Attend meetings, breakfast and luncheons held at veterinary conferences • Develop a relationship with a good recruiter who specializes in the animal health industry
  44. 44. When Should I Establish A Relationship With A Recruiter? • Long before you need one – you never know when you may need them – you could be happily employed right now, but who would not leave for a better offer? • When you are ready to move your career forward • Your relationship with a recruiter is one of the most critical relationships you will have as you navigate your career • Recruiters can open doors for you. They have more contacts with hiring managers than you could ever have • The most sought after jobs are not posted; many can only be obtained through a recruiter
  45. 45. • World’s largest professional network in existence – > 200 million members and growing • Get found by recruiters and employers – Is used by 98% of recruiters – 48% of them use LinkedIn® exclusively • Build your credibility and personal brand • Get recommendations from current and former colleagues • Is a great tool but you should not rely on this exclusively • Nothing can replace the value of: – Networking face-to-face – Having a good recruiter to partner with you throughout your career
  46. 46. Working in a Larger Organization • Industry jobs require the ability to work within the structure of an organization where there are typically many policies and procedures. • There can be a great deal of bureaucracy associated with working for a large organization. • Previous organizational and interpersonal skills will be a definite plus.
  47. 47. Performance Reviews • Employees are typically evaluated annually for performance. • You will normally set goals with your manager each year and some of your compensation can be based on whether you meet these goals. • This is typically tied to a bonus or a merit increase.
  48. 48. Corporate Culture • Need to be able to deal with uncertainly such as cultural changes or mergers and acquisitions which can lead to decreased jobs or new opportunities. • This requires flexibility and keeping options open.
  49. 49. Mobility • You may need to be able to live or move to the city where the position is. • Be willing to get your foot in the door. • Don’t turn down a position because it is not the ideal job you would like to have. • Once you have industry experience your options are wider. Once you are “in the door”, the opportunities increase. Some companies will cross train their employees.
  50. 50. Assess Your Knowledge and Skills
  51. 51. • Pharmacology, disease prevention, surgery, understanding of medical terminology • Administrative and managerial skills − Employee supervision − Clinic management − Budgeting Veterinary Skills
  52. 52. Other Areas of Expertise • Areas of study • Volunteer work • Speaking/media interviews • Writing for publications • Generally don’t have to have a degree beyond DVM
  53. 53. Critical Nontechnical Competencies • Builds relationships • Acts autonomously and confidently • Drives for results • Demonstrates integrity • Pursues development • Demonstrates adaptability and resilience • Communicates effectively Nontechnical Competencies Underlying Career Success as a Veterinarian JAVMA 6/15/03
  54. 54. Critical Nontechnical Competencies • Motivates others • Influences others • Coaches and develops others • Business oriented • Uses sound judgment • Thinks innovatively Nontechnical Competencies Underlying Career Success as a Veterinarian JAVMA 6/15/03
  55. 55. Job Responsibilities Stacy Pritt, DVM, MS, MBA, CPIA
  56. 56. Skills For Success Stacy Pritt, DVM, MS, MBA, CPIA
  57. 57. Basic Skills Required in Veterinary Industry • Oral communication skills • Written communication skills • Business knowledge • Computer literacy • Leadership skills • Flexible attitude • Team player
  58. 58. Oral Communication Skills • Offer to give talks – Local clubs – Veterinary meetings • Join Toastmasters – Non-profit organization – Can teach you to speak more confidently • Keep a list of your speaking engagements for your resume.
  59. 59. Written Communication Skills • Write articles – Local club – Newsletter – Magazine – Veterinary publication • Take a course in technical writing • Publish case reports in peer-reviewed journal
  60. 60. Business Knowledge • Understand the business end of your career niche − If you want to work in industry, understand how their business works • Understand client relations, record keeping and financial management • Learn how to manage a budget. • Go to veterinary meetings; visit with those in the exhibit hall • Attend lectures on practice management
  61. 61. Computer Literacy • Microsoft Office – Word, Excel, Outlook, PowerPoint • Basic and advanced internet searches • Web-based services for business purposes – GoToMeeting, Yahoo and Google Groups • Skype and Google Hangout • Practice management software
  62. 62. Leadership Skills • Become an officer in a veterinary association or civic group • Volunteer to help organize a veterinary meeting • Learn time management skills • Toastmasters • Hire a business coach • Take courses on leadership
  63. 63. Flexible Attitude • Must be willing to adapt to the employer’s changing needs – If their needs change, your job may change • Must be willing to continually learn – Start now if you aren’t – Track your learning efforts – Talk to potential employers about your efforts • Be able to work as part of at team
  64. 64. Other Learning Opportunities • Shadow someone who is involved in a career you would like to pursue • Webinars • Find a mentor • College courses via satellite TV and cable • Community college offerings • Attend workshops • Read magazines, books and journals • Foreign language training • Evening and weekend classes • Volunteering • Attend veterinary seminars
  65. 65. What Does the Market Look Like?
  66. 66. # of Veterinarians by Job Category 12/31/12 64,489 6,563 1,823 1,064 766 3,282 2,187 20,748 1,822 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 2013 AVMA Report on Veterinary Compensation 67
  67. 67. 2011 Average Earnings $118,726 $122,794 $115,575 $91,207 $113,881 $171,512 $136,888 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 $200,000 2013 AVMA Report on Veterinary Compensation 68
  68. 68. 2011 Industry Position Earnings by Percentile $124,000 $160,000 $196,000 $264,745 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 25th Percentile 50th Percentile 75th Percentile 90th Percentile 2013 AVMA Report on Veterinary Compensation 69
  69. 69. Salary Info by Position • Professional services: $65K-$125K (base salaries-typically have a bonus target and company car or car allowance in additional to “normal” benefits) – $65-75K for capital equipment companies – $65-$90K with pet food companies – $100-$125K with pharmaceutical companies – $125-$150K for Specialty Account Veterinarians • Pharmacovigilance: $90K-$120K The Pursell Group LLC, The VET Recruiter ®
  70. 70. Salary Info by Position • Regulatory: wide range from $75K-$200K (Regulatory specialist to manager to Director to VP) • Marketing: $90-$125K – Director level $125-$150K – VP $150-$250K – Size and type of company are factors; occasionally geography influences salary The Pursell Group LLC, The VET Recruiter ®
  71. 71. Earnings Increase With: • Years since graduation • Board certification • Advanced degrees (masters, PhD)
  72. 72. Benefits 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% Industry Private Practice
  73. 73. Benefits 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% Industry Private Practice
  74. 74. 2011 Hours Worked 49.1 47.5 50.0 45.0 42 43 44 45 46 47 48 49 50 51 Industry Private Practice Mean Median 2013 AVMA Report on Veterinary Compensation
  75. 75. Outlook for Industry Veterinarians • 2012: Supply (3,210 FTE) and demand in equilibrium • Estimated 3.75% average annual growth rate between 2008-2016 (120/year); 1.9% between 2017-2025 (61/year) 2013 U.S. Veterinary Workforce Study: Modeling Capacity Utilization
  76. 76. Helpful Websites • American Association of Corporate and Public Practice Veterinarians • The VET Recruiter ® – In addition to jobs that we are actively searching, our website has information on current events and topics in the industry as well as interview tips. • Animal Health Careers Job Board • Animal Health Jobs Job Board
  77. 77. Helpful Websites • American Veterinary Medical Association • Virginia- Maryland Regional College of Veterinary Medicine has a Department of Corporate and Public Practice. They help prepare those who are interested in industry. • LinkedIn is a social networking site that is geared towards business use.
  78. 78. Stacy Pursell 918-298-7025
  79. 79. Karen E. Felsted, CPA, MS, DVM, CVPM Felsted Veterinary Consultants, Inc. 214-862-3802
  80. 80. Sources