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Digg It - Career - Job Comparison
I decided to hypothetically put two people seeking professional careers, one a prospective college student, the other a truck driving school candidate, up against each other in a comparison of job training, annual salary, debt accumulation, and investment capability, while comparing time frames to similar objectives. Assumin
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
g we start this time frame with the student entering college and the truck driver entering truck driving school.
The college student is seeking one of the top paid careers with a degree in any of the following: Marketing, Business Admin
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
stration, Mechanical Engineering, Management Information Systems, Civil Engineering, Electrical Engineering, Computer Science, Accounting, Finance or Economics. The truck driver is just looking for a good driving job that will put him home every day with good pay.
To be fair, we will base the cost of the college student’s t
To be fair, we will base the cost of the college student’s t
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ition on an average of $16,000 at an in-state public university, and about $33,000 for a private school each year for 4 years. These costs include tuition, fees, books, room and board and other expenses.
The cost of the truck driver’s training school is $1,500 to $3,500. Most schools pay for room and board and some compan
The cost of the truck driver’s training school is $1,500 to $3,500. Most schools pay for room and board and some compan
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
schools pay the student wages while they are training. Company schools will pay for training if the student agrees to work for them for one year.
Now let’s fast forward to the 3 month level from our starting point:
The college student is learning and acquiring debt. The truck driver has completed his schooling and ha
Now let’s fast forward to the 3 month level from our starting point:
The college student is learning and acquiring debt. The truck driver has completed his schooling and ha
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
been making money driving for a break-in company at the rate of $35,000 a year. The driver has just got enough experience to get hired with a career company and he does.
One year and 3 months from the starting point:
The college student is still learni
One year and 3 months from the starting point:
The college student is still learni
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
g and acquiring debt, somewhere between $20,000 and $41,250. The truck driver has had several pay raises, and grossed over $65,000 his first year with his new company. He put $15,500 in his 401k with a handsome company match. He also put money in an IRA of $4,000 and is buying stocks. He goes home every day to the brand n
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
w house he just purchased, and is enjoying all the freedom that driving has to offer.
Two years and 3 months in:
The total debt of the college student is around $36,000 to $74,250 dollars, but he is learning. The truck driver’s gross earnings were $70,000 dollars, again topping out his 401k and an IRA for a new b
Two years and 3 months in:
The total debt of the college student is around $36,000 to $74,250 dollars, but he is learning. The truck driver’s gross earnings were $70,000 dollars, again topping out his 401k and an IRA for a new b
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
lance of $43,000 dollars with interest. He is making extra payments on his home and it has been appraised at a value $4,000 above original purchase price.
Three years and 3 months from the starting gate:
Our college student is beginning to realize how long it is going to take to pay back those studen
Our college student is beginning to realize how long it is going to take to pay back those studen
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
loans. It’s a good thing he chose one of the top starting salary majors or he might be in trouble. His total debt acquired so far: $52,000 to $107,250 dollars. And our truck driver’s house value has gone up to a total of $8,000 dollars above purchase price. His investment account’s total balance is $66,250.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
4years and 3months later:
Congratulations to our college student! Happy graduation! Your debt is $68,000 to $140,250, plus interest. Your starting salary as an Electrical Engineer is $54,599. Our truck driver has earned $78,000 dollars this year and his home value is up $12,500 above the purchase price. His
Congratulations to our college student! Happy graduation! Your debt is $68,000 to $140,250, plus interest. Your starting salary as an Electrical Engineer is $54,599. Our truck driver has earned $78,000 dollars this year and his home value is up $12,500 above the purchase price. His
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
nvestment portfolio balance is around $91,000 dollars.
A year later:
In the following year our college student is working and likes his new job. He is in the market for a new home, but is very limited due to the debt he has acquired. A job starting at $55,000 seemed like a lot of money when he first started school, but
A year later:
In the following year our college student is working and likes his new job. He is in the market for a new home, but is very limited due to the debt he has acquired. A job starting at $55,000 seemed like a lot of money when he first started school, but
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
with the student loans to pay back it has limited him to a home below previous expectations. As much as the student would like to save for retirement, he just can’t seem to find the extra money to invest. To furnish his new home he does what most Americans do, he runs up those credit cards. Sound familiar?
Our truck driver
Our truck driver
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
could not be happier. He has plenty of time at work to study and learn all of the things he finds interesting. His home keeps appreciating and stocks are doing well. He has close to a $130,000 balance in his portfolio and is enjoying all his free time driving down the road listening to audio books on investing. He is getti
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
g ready to build a new custom home, and with only about five years in this industry, he can see an early retirement on the horizon.
Now if you look at the college student’s $68,000 to $140,250 debt compared to the drivers balance of $130,000 plus home equity, we have as much as a $300,000 difference at about 5 years. The st
Now if you look at the college student’s $68,000 to $140,250 debt compared to the drivers balance of $130,000 plus home equity, we have as much as a $300,000 difference at about 5 years. The st
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
dent has the power of interest working against him, while the driver has the power of compounding interest working in his favor!
Being happy or successful in life is not about a title or a piece of paper. It’s about making wise decisions that can make your life smooth and stress free. Regardless of the reasoning, taking on
Being happy or successful in life is not about a title or a piece of paper. It’s about making wise decisions that can make your life smooth and stress free. Regardless of the reasoning, taking on
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
debt is not a good plan if you want to achieve financial independence or experience true freedom in a timely fashion. It’s a person’s debt-to-income ratio, and what they do with their money that counts. In this and most scenarios, the college student will not ever catch up to the truck driver financially.
If a person can
If a person can
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
go to college for free, great! I have yet to see anything that is 100% free. Even if the college student did go to school for free, he graduates with a balance of $0. The truck driver has a handsome home and investment portfolio, with the ability to work and live anywhere in the country enjoying all the freedoms that trucki
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
g has to offer.
There is a truck driving shortage in this country that is growing larger each year. There is no shortage of people taking on and acquiring debt by going to college. Too many people just go to college, no matter the cost, because they were brought up believing it is the thing to do. The percentage of student
There is a truck driving shortage in this country that is growing larger each year. There is no shortage of people taking on and acquiring debt by going to college. Too many people just go to college, no matter the cost, because they were brought up believing it is the thing to do. The percentage of student
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
that actually graduate and get a degree that would enable them a have starting wage of $55,000 is extremely small. Many students don’t graduate, but have the student loans to pay back anyway. Over 30% of college students leave after the first year and almost 50% never graduate, according to the Department of Education 2006
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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