Why Should Science Majors Invest in Biotechnology?

Acceding to the crusade for a brighter future, the United States has invested heavily in the areas of life sciences. Examples of this are the development of new products to fight disease, new drug formulations to battle Hepatitis, new cancer treatment regimens, and new materials to conduct research.

All the major scientific institutions in the US are actively involved in the development and management of these technologies. It is rightly said that each university, college, and Institute has become a major player in the emerging biotechnology sector.

“Brain – drain”

The ‘Brain-drain’ is a new phenomenon born out of the large scientific workforce outsourced by companies to Hults Intelligence (which is now becoming the majority of the intellectual workforce) and the ‘brain drain’ is also a result of out-migration from one’s original career field to another.

These demographic changes have left many science careers in disarray, creating space for a whole new raft of human capital to be engaged. This has provided the potential to reward millions of people with unique occupational destinations.

The “brain drain” is particularly severe with regards to its effect on the engineering sciences, especially in the United States.

Over 300,000 software engineering jobs were narrated in the first quarter of 2000, and it is expected to reach 500,000 by the year 2016. These figures are lower than the projections of about 1.6 million software engineers employed in the year 2012.

Many of the jobs offer in this industry stem from the expanding core Internet services business. The core Internet services component of these job offers has lost 30,000 jobs in the last two years, and the computing services component has lost 15,000 jobs in the last two years.

The “brain drain” is therefore not limited to technology alone. Computer science degrees have declined by 30 percent from their 1996 levels. Since there are virtually no alternatives to these degrees, this has rendered the job prospects for graduates very bleak.

Projections are necessary

Hence, the response to the queries is a priority check on the career trends. Here the significance of the news is that the graduate unemployment rate has touched a record low of 7.7 percent during the first quarter of this year, and fingers are now being pointed at the Availability of Education Department to the problem.

The problem seems to stem from the non-APS (AIP/ASQ) stream which for about 33% of graduating engineering students is devoid of quality workplace options. The Planning Commission had earlier recommended various initiatives for improving the quality of AIP stream graders/intending entrepreneurs. The commission has since been reduced to a quorum of its President and Vice President.

Potential solutions

The other direction that the government has taken is to increase the minimum conveyance certificates to the graduating engineers to prevent them from getting a job straight after their graduation. The minimum conveyance certificate currently stands at Rs. 19,000 and this is a minimal price to attract the aspiring youth for joining the engineering workforce.

The signs of a recovery are visible in the reportages during the June quarter of 2011. Record investments by sovereign wealth funds are being made in infrastructural developments. The government’s move to put India firmly on the fast track to global business growth has turned good for the Indian economy.

After years of sustained and unrestrained foreign investment, India is emerging as a lucrative destination for business opportunities. Additionally, the demand for education and healthcare in India has multiplied by bounds. This has given rise to the top three nursing education companies of India-energies, energies, and Excel.

The need to fill the engineering jobs gap with no space or even replanting the idea in the minds of young graduates is panting in India. Almost all the colleges and universities of India are clamoring to increase their seats so that they can cultivate the brains and provide the required service to Indian and international clients.

Young graduates who have worked as professionals for a few years are in a position to command higher salaries as compared to what they get after a short duration in a conventional MBA program. Additionally, there is a need to optimize the time to completion of the course to get the desired return on investment, if one wishes to branch out into other streams of engineering. These options will provide the student with a better idea of when to pursue courses beyond the bachelor’s degree programs.

The government has initiated courses focusing on the needs of the job market. Its colleges and universities with approved curriculum have come up with innovative courses targeting practical. Professional courses offered through these colleges during the bachelor’s degree include project management, advanced audit skills, engineering information systems, industrial relations, production, and construction industry, human resource management, advanced manufacturing, and many other related courses.

14 thoughts on “Why Should Science Majors Invest in Biotechnology?

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