Why won't industry managers hire PhDs? | Summary and Q&A

TL;DR

PhDs in industry are often viewed as problematic due to habits acquired in academia, such as feeling superior, finding faults instead of solutions, and over-analysis; however, by following three guidelines—being effective, finding solutions, and being decisive—PhDs can be valuable contributors in the industry.

Key Insights

• 🧠 Stereotypes about PhDs in industry: they think they're smarter than others, always find fault and not solutions, and never make decisions to move forward.
• 🎓 Graduate school teaches you to be the expert, but in industry, teamwork and continuous learning are valued.
• ❌ Picking up the habit of finding fault with others' ideas in graduate school doesn't work in a team environment. Focus on creating solutions instead.
• 🔍 Finding problems with solutions is important, but it can't be your primary attitude. Everyone on the team should feel like you are with them, moving in the same direction. ⏩ In industry, it's crucial to have the courage to make decisions and move forward quickly, even without all the data. Waiting for 100% certainty takes too long.
• 🚀 "Work quickly and find out what doesn't work, so you can find out what does." - Jason Incher.
• 🔑 Be effective, not just smart; find solutions, not faults; be decisive, not perfect. Industry values those who contribute to creating solutions.
• 🔬 Industry doesn't want scholars, it needs problem solvers. Be part of the solution to avoid being labeled as a worthless PhD.

Transcript

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Questions & Answers

Q: Why are industry managers often hesitant to hire PhDs?

Industry managers may be hesitant to hire PhDs because of stereotypes associated with them, such as feeling intellectually superior, criticizing instead of offering solutions, and getting stuck in analysis paralysis, which can hinder teamwork and progress in the industry environment.

Q: How can PhDs become valuable contributors in the industry?

PhDs can become valuable contributors in the industry by following three guidelines: focusing on being effective rather than just smart, finding solutions instead of faults, and being decisive and action-oriented. By adapting their work habits to fit the industry culture, PhDs can contribute positively to their teams and projects.

Q: How does the academic environment differ from the industry environment?

The academic environment focuses on individual expertise, fault-finding, and extensive data analysis for certainty, while the industry emphasizes teamwork, solution-oriented mindset, and quick decision-making for progress. The academic culture of being an expert and analyzing problems thoroughly may not align well with the fast-paced and solution-driven nature of the industry.

Q: What are the consequences of getting trapped in analysis paralysis in the industry?

In the industry, where time is often of the essence, getting trapped in analysis paralysis can lead to delays in progress, missed opportunities, and frustration from managers and colleagues. It is generally more beneficial to make informed decisions with 90% certainty and fix any issues that arise later, rather than delaying progress in pursuit of 99.999% data certainty.

Summary & Key Takeaways

• Many industry managers have concerns about hiring PhDs due to their habits acquired in academia, such as feeling intellectually superior, criticizing instead of offering solutions, and getting stuck in analysis paralysis.

• To be a valuable PhD in industry, it is important to avoid these stereotypes by focusing on being effective rather than just smart, finding solutions instead of faults, and being decisive and action-oriented.

• Industry values teamwork, problem-solving, and quick decision-making, so it is essential for PhDs to adapt their work habits to fit into the industry culture.