Employment in Science and Engineering

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Employment in Science and Engineering

Key Takeaways

Introduction

The research brief addresses employment in Science and Engineering, including the main industries, monetary breakdown of those industries, fastest-growing and biggest companies, common entry-level titles, spending in recruitment and hiring, and customizable internship programs in science and engineering. Whereas information about most of the aspects is presented below, details about companies spending on overall hiring/recruiting, spending on entry-level recruitment, and spending on DEI were not readily available in the public domain.

Brief Overview of Science and Engineering Industries -meaning, what specific industries use them (automotive, pharmaceutical, clinical research)? Provide 3-5 of the main industries.

Brief overview of key findings

  • Engineering is an industry focused on applying science and mathematics to solve problems. Scientists develop innovations, and engineers apply the inventions to the real world.
  • The science industry includes disciplines that include STEM subjects like social sciences, biology, physics, mathematics, and chemistry. The common specialization fields in the science industry are molecular biology, material sciences, cultural anthropology, genetics, botanic, and ecology.
  • The life science industry is made up of companies that operate in pharmaceutical, biotechnology, nutraceuticals, food processing, biomedical technologies, cosmeceuticals, and medical devices.
  • The main engineering industries are biomedical engineering, mechanical engineering, chemical engineering, and environmental engineering.
  • The automotive industry uses science and engineering in both design and manufacturing. Engineers work to design complex automotive systems, including electrification, battery technologies, and automation of cars.
  • Engineering in the pharmaceutical industry encompasses the manufacture of pharmaceuticals, including their development, manufacturing processes, and analytical and quality control processes. Pharmaceutical engineers focus on ensuring the efficacy, quality, and safety of pharmaceutical products in this industry.

More in-depth information

Conclusions from the research

What is the monetary breakdown of those industries — how much is being made?

Brief overview of key findings

  • The market revenue of the global pharmaceutical industry was $1462 billion as of 2021. The industry recorded a 5.8% yearly increase since 2017 (the industry's market revenue in 2017 was $1143).
  • Precedence research indicates that the global clinical trials industry size was $48.4 billion as of 2020 and is expected to grow at a CAGR of 5.7% to hit $84.43 billion by 2030.
  • The global automotive manufacturing industry had a market value of around $2.7 trillion as of 2021.

More in-depth information

  • In the United States, the automotive industry accounts for 3% of the country's GDP. In 2020, the industry made $1.249 trillion in revenue.
  • Research results show that large pharmaceutical companies collectively made a revenue of $11.5 trillion, net income of $1.9 trillion, and gross profit of $8.6 trillion between 2000 and 2018.
  • The global pharmaceutical industry is projected to hit $1.3 trillion in market value by 2091.
  • The market size for the global clinical trials industry was $47 billion as of 2021. The industry is expected to reach 49.8 billion by the end of 2022.

Conclusions from the research

  • Based on the research, the pharmaceutical is the science and engineering-related industry with the highest monetary value. The industry made a revenue of $11.5 trillion, net income of $1.9 trillion, and gross profit of $8.6 trillion between 2000 and 2018.

Who are the biggest companies within those industries (if applicable)?

Brief overview of key findings

  • ABB Company Ltd and Roper Technologies Inc. are among the most significant American companies categorized under the biggest engineering companies in the world.
  • China State Construction Engineering, China Railway Engineering Group, China Railway Construction, Pacific Construction Group, and China Communications Construction are the Chinese companies ranked among the biggest in the engineering industry.
  • According to Yahoo Finance, Mitsubishi Heavy Industries is among the biggest engineering companies globally. The company is ranked 12th with a revenue of $37,055.3 million and 81,631 employees.
  • China State Construction Engineering is ranked the number 1 biggest engineering company in the world in terms of revenue.
  • According to the Biospace 2021 ranking for life science companies, Johnson & Johnson is the world's biggest pharmaceutical company. Roche and Pfizer are ranked second and third in this category.
  • In the automotive industry, Toyota, Mercedes-Benz, and Volkswagen are ranked among the biggest vehicle manufacturing companies in the world.
  • IQVIA and Parexel are among the biggest companies in the clinical research industry. IQVIA has more than 88,000 employees from over 100 countries, while Parexel has over 18,000 employees across over 50 countries.

More in-depth information

  • China State Construction Engineering has a revenue of about $205,839 million and 335,038 employees. The company has many subsidiaries operating in planning and design, construction, project development, and facilities management, among other areas.
  • China State Construction Engineering handles operations related to transportation engineering, energy and environmental management, and material testing.
  • The ranking of biotech companies by Market Cap shows that Johnson & Johnson has a market capitalization of $463.31 billion, Roche has $312.14 billion, and Pfizer has a $273.92 billion market capitalization.
  • Based on market capitalization, Toyota has $219.82 billion in market capitalization, $102.99 billion for Volkswagen, and $71.09 billion for Mercedes-Benz.
  • According to All Top Everything magazine, the German-based Volkswagen company has a revenue of $263.6 billion, Japan-based Toyota Motor Corporation has a revenue of $258.7 billion, and Germany-based Mercedes-Benz AG has a revenue of $182.5 billion. In terms of the number of employees, Volkswagen AG has 307,000, Toyota Motors Corporation has 366,000, and Mercedes-Benz AG has 288,000.

Conclusions from the research

  • The biggest companies in the science and engineering industries are in America, Europe, Asia, and China. However, China has a dominant position in the major players in these industries.
  • China State Construction Engineering is the biggest engineering company in the world, with a revenue of about $205,839 million.
  • Based on revenue, Volkswagen is the biggest company in the automotive industry, with a revenue value of $263.6 billion.

Who are the fastest-growing companies in those industries?

Brief overview of key findings

  • According to the Bureau of Labor Statistics, industrial engineering is the fastest-growing engineering subfield, recording a 14% increase (40,000 new jobs). The other fastest-growing engineering subfields are chemical engineering (9% increase), civil engineering (8% increase), aeroscope engineering (8% increase), and petroleum engineering (8% increase).
  • Fortune Magazine names Jacobs Engineering Group, MYR Group, and IES Holdings among the 100 fastest-growing engineering and construction companies. Jacobs Engineering Group is ranked 34, MYR Group is 66, and IES Holdings is 67 in Fortune 100's ranking for the fastest-growing engineering and construction companies.
  • Neurocrine Biosciences (ranked 15), Vertex Pharmaceuticals (ranked 23), and Emergent BioSolutions (ranked 47) are among the fastest-growing science and engineering companies, particularly in the pharmaceutical industry.
  • In the clinical research industry, Inc. Magazine considers Proxima Clinical Research one of the fastest-growing companies in the sector.

More in-depth information

  • Shyft Group is among the fastest-growing companies in the automotive industry. The company has market value as of October 2021 was $1,386 million and has recorded a 3-year annual growth rate of 21%.
  • Jacobs Engineering Group has a revenue of $14,092.6 million, profits worth $477 million, a market value of about $17,807.4 million, and 53,500 employees. The company's 3-year annual growth rate has been 44%.
  • MYR Group is an engineering & construction company ranked 66 in Fortune 100's fastest-growing companies. The company has a revenue of $2,498.3 million, a market value of about $1,594,5 million, and 7,600 employees. The company has had a 33% 3-year annual growth rate.
  • According to Forbes Magazine, Neurocrine Biosciences has been posting healthy revenue growth, with its 3-year average growth in sales increasing at about 53%.

Conclusions from the research

  • Neurocrine Biosciences is the fastest-growing company in the pharmaceutical engineering industry. The company is ranked 15th in the Fortune 100 ranking for the fastest-growing companies.
  • Jacobs Engineering Group is ranked among the fastest-growing companies in the world, with an annual growth rate of 44%.

What are the most common/numerous entry-level job titles within those industries?

Brief overview of key findings

More in-depth information

Conclusions from the research

  • Careers in the science and engineering industries fall under STEM careers. Whereas some job titles revolve around aerospace, biological, chemical, mechanical, and petroleum engineering, there are job majors in pharmacology, mathematics, chemistry, biology, and statistics.

What entry-level jobs are hardest to fill/remain open longest?

Brief overview of key findings

More in-depth information

  • Socialtalent.com ranks the hardest to fill jobs based on percentages: 41.8% for Software engineers, 41.78% for software architects, 40.24% for system engineers, and 39.86% for software test engineers.
  • According to Talent Plus Staffing, Data Scientist is among the high-demand jobs that are hard to fill. There is a shortage of trained data scientists because they are highly needed across many sectors, including healthcare and finance.

Conclusions from the research

Are there any companies that already specifically offer custom internship programs in science or engineering specifically, and how is it priced?

Brief overview of key findings

  • Amazon Robotics is described as one of the companies offering an exceptional internship in science and engineering under the Amazon Robotics internship program. However, there are limited details about the customizability of its internship program.
  • The intern Group offers customized remote engineering internships. These internships are offered to those who are still studying or have already started their careers.
  • ESA offers customized internship programs in multiple fields, including engineering. The internship program lasts for 8 weeks.

More in-depth information

Conclusions from the research

  • Third-party companies like the Intern Group and ESA offer customizable internship programs in science and engineering. The customization is done by these organizations, not the companies where the interns are.

Research Strategy

We started this research on employment in Science and Engineering by leveraging the most reputable sources of information in the public domain, including press releases, career-related sites like Gradireland, magazines like Forbes and Fortune 100, and reports related to science and engineering careers and employment. In determining the biggest companies, "biggest" was defined in terms of revenue and market capitalization. There was no pre-compiled list of fastest-growing companies in the science and engineering industries. However, the research team used the Fortune 100 ranking for fastest-growing companies; using necessary search filters, we identified the companies drawn from science and engineering fields, including pharmaceuticals, engineering and construction, and automotive. There was no information about companies in the engineering and science industries that are already offering customizable internship programs. Most organizations offering customizable internship programs in these industries were third-party entities and not the specific companies where interns are placed. However, these third-party organizations did not provide details about the pricing of their customizable internship programs. Information about companies spending on recruiting/overall hiring, entry-level recruiting and hiring, companies spending on DEI, and the pricing for various internship programs was not publicly available.
The next strategy was to find pre-compiled data about specific companies' expenditure on recruiting/hiring and DEI. The desire was to use the expenditure by particular companies on overall hiring, entry-level recruiting, and DEI and then compute an average figure. We consulted the identified biggest companies' quarterly and annual financial reports, websites, and press releases. Unfortunately, no relevant data was publicly available.
The last strategy was to use reputable third-party sources for information about multiple companies' average recruitment/hiring expenditure. In this strategy, the research team focused on the hiring recruitment practices for the biggest companies in various science and engineering industries. Some third-party sources we consulted include Glassdoor, Zippia, and ZipRecruiter. Unfortunately, no specific information about the identified companies' expenditures was publicly available.


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