The PhD is becoming more and more prevalent as a degree. However, PhD students are not adequately prepared for careers outside academia and most of them have trouble translating their skills to the job market. The biotech sector is a science-driven industry that is now mature and flourishing and requires business leaders that are technically trained. But technical skills are only a partial requirement, with in-depth industry education and knowledge being equally important. There is an inherent advantage to pursuing a PhD alongside education in management in the form of an advanced/professional master’s degree. This will allow PhDs to explore alternative careers outside academia.