Now worth well in excess of $500 billion per annum, the pharmaceuticals industry is a key player in the worldwide economy as more and more MBA s are opting for this trendy field. The industry’s largest market remains North America, which accounts for nearly half of all pharmaceutical sales, with Europe taking second place at around 30% of total worth. However, this may be all set to change over the next decade. While growth in North America hovers at around 8%, both Latin America and Asia are forging ahead with growth figures well into double digits.
Johnson & Johnson is alone expecting to hire as many as 300 full-time and 150 intern MBAs in the 2006-07 season. As is the case in many key industries, MBAs tend to be recruited by the pharmaceutical sector, as much for their potential as for any specific previous experience, although academic training in the sciences or a background in such areas as sales or marketing can sometimes prove to your advantage.