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What type of biomedical engineer makes the most money?
#money-management
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John’s Answer
I am glad you are asking this question at this stage of your life. Knowing the answer to this question actually can make a huge difference in how your career will work out. Generally, there are 3 possible paths:
Path 1: Work as researcher at a University or University Medical School. This type of positions are usually funded by government grant and tend to focus on basic and foundational research. You are competing constantly with graduate students that are willing to work for free or very little to subexist, so pay is not great and you usually need to get PHD to keep your job.
Path 2: Pharmatheutical company that develops new medicines. Modern pharma companies are like software company, it costs a fortune to develop the medicine, it usually costs pennies to make the medicine. So they don’t mind to pay much better. Especially if you have skills such as project management, statistics in addition to bioengineering
Path 3: Insurance companies as internal consultants. The pay is good and reputable, but lesser upward career oppportunities and less than for Pharma.
Path 1: Work as researcher at a University or University Medical School. This type of positions are usually funded by government grant and tend to focus on basic and foundational research. You are competing constantly with graduate students that are willing to work for free or very little to subexist, so pay is not great and you usually need to get PHD to keep your job.
Path 2: Pharmatheutical company that develops new medicines. Modern pharma companies are like software company, it costs a fortune to develop the medicine, it usually costs pennies to make the medicine. So they don’t mind to pay much better. Especially if you have skills such as project management, statistics in addition to bioengineering
Path 3: Insurance companies as internal consultants. The pay is good and reputable, but lesser upward career oppportunities and less than for Pharma.
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Bria’s Answer
The highest-paid biomedical engineering jobs are in research and development and pharmaceuticals. Specific roles to look into are research fellow, biomedical engineer specialist, and senior biostatistician. Hope this helps!