​The Power of Compound Interest
Albert Einstein purportedly described compounding as the most powerful force in the universe and compound interest as the eighth wonder of the world. 
​
We mostly think of compound interest in the form of finances and growing wealth. And compound interest in that domain is, indeed, quite powerful and important. The crucial aspect of this type of growth is that it relies heavily on time. The more time one has to allow their money to grow at some rate of return (3%, 5%, 8%), the more money they will have at the end of some specified period of time. The earnings that accrue each year (or day, or month, depending on how interest is paid out) adds to the amount the individual invests themselves and also, itself, produces interest and earnings over time.

​An example from the investment learning blog grow illustrates how much of a difference 10 years can make: if a person starts saving $5,000/year for their retirement at age 25, they will end up with more than twice as much retirement savings ($1,300,000) by age 65 as someone who waits until 35 to start ($565,000), assuming an 8% rate of return, compounded annually.

​So, don't wait to invest in your retirement...even if it is $50 or $100 per month. That adds up over time. 

​Exponential Growth & COVID-19
Time matters so much in the world of compound interest as the growth of money in this case is exponential.

You might have heard a bit about the power of exponential growth as it relates to the spread of COVID-19 within a population. While pure exponential growth is not the best way to model the spread of COVID-19 infections, using it as an example demonstrates the point that, again, time matters when it comes to compounding growth of, in this case, a viral infection.

​An example used in the Forbes article linked above nicely illustrates the point of growth in viral spread: if just 1 person is infected on January 1st and the number of infected people doubles every three days (1 person has the ability to infect another in three days time from casual interactions, etc...), 1,024 people will be infected on January 31 (as each newly infected person also infects someone else every 3 days), 2,048 on February 3 (doubling of infections every 3 days), and by March 19th (78 days after the initial infection), 67 million people will be infected! Obviously COVID-19 didn't spread this fast due to various measures to slow the spread but, clearly, exponential growth is scary.

​The point here, and that we learned all too well in 2020, is that if one does not intervene early to stop the spread, the growth of viral spread will produce levels of infection that are nearly impossible to deal with barring some major new intervention like a vaccine, which thankfully, is coming in the case of the SARS-CoV-2 virus that causes the disease that is COVID-19. 

Another interesting bit of research that resurfaced in the media during the spread of COVID-19 was the concept of exponential growth bias - the fact that most people ​consistently underestimate how fact value increases exponentially. In fact, an interesting study published in PNAS found that helping individuals better understand how impactful exponential growth can be for COVID-19 transmission led to increased support for measures to slow the spread of the virus.

​So, while we may struggle to comprehend exponential growth initially, understanding this process better is critical to taking actions that can affect this type of growth, whether we want to harness it for good (i.e., saving for retirement) or combat its negative effects (viral transmission).

Big Things Come from Small Beginnings - Growing Your Professional Presence & Career

​What does exponential growth have to do with your career?

Well, I believe we build our expertise and personal brand over time and can experience outsized returns in our careers if we start early and seek out means of increasing our rate of return, which could include:

1. Publishing your scholarly work (if you are a researcher)
2. Building an online brand and presence (via LinkedIn and/or a personal website)
3. Sharing your work & expertise via online platforms (LinkedIn posts, articles, or blog posts on other platforms)
4. Growing your professional network & reach
5. Developing relationships with professionals in your current or desired career field
6. Communicating your value, expertise, and story broadly, including learning how to communicate to general audiences  

2020...what a year.
Who knew at the beginning we would be here?
Certainly times have been tough and many are apart.
However, these circumstances made us appreciate what we should have from the start.

It’s often the little things that matter in life:
A sunny day, brisk walk, or chats with loved ones be they friends, family, your husband or wife.
In all the noise of our busy lives we often forgot to slow down and see
How much we had to be thankful for...hopefully you agree?

As this year reaches its end
We look forward to rounding the COVID-19 bend.
Science has delivered advances to slow the spread
And brighter days are ahead.

When our lives begin to restart
Let us not forget what we learned while apart:
Connection, love, and hope should be at the heart
Of our society as we chart
A path forward in the year ahead
One full of promise and not dread.

Here’s to a brighter, better future for all of us. ​

Approximately 2 years ago I was navigating a multi-pronged job search where I considered a variety of career paths to pursue after my postdoctoral fellowship at Vanderbilt University. I am now approaching the end of my second year working in postdoctoral affairs at North Carolina State University, which I began in January 2019. 

This piece about my transition from postdoc to working in postdoc affairs originally appeared in the National Postdoctoral Association's online newsletter, The POSTDOCket, in April 2019. I have added some additional thoughts and reflections in bold (red). 

​Like many postdoctoral scholars, I considered a variety of careers during my time as a postdoc at Vanderbilt University. I applied to tenure-track faculty jobs in fall 2017 and 2018, submitting nearly 25 applications each year (read more in my Tales from the Academic Job Market). I also talked with individuals in my immediate and extended network (via informational interviews) who worked in a variety of areas outside academia: medical writing, medical science liaison, & life science consulting.

Only since fall 2018 did I think that a career in postdoctoral affairs was both an option, and an area where I had the necessary qualifications. In retrospect however, I realize I had been steadily building a portfolio of postdoc affairs involvement and professional development knowledge over the past few years.

I got my first in-depth exposure to postdoctoral affairs while working with the Vanderbilt Postdoctoral Association (VPA) as treasurer in 2016-17 and junior co-chair (vice president) in 2017-18. During that time, the VPA executive board and I worked with our newly centralized Office of Postdoctoral Affairs (OPA) to broaden our programming for a wider postdoc audience.

Although developing programming to be broadly relevant and useful to postdocs from varying fields was a challenge, we made progress in reaching a larger and more diverse population of Vanderbilt postdocs through our social and professional development events. While interacting with postdocs in my VPA leadership roles, I began to understand the range of challenges they faced: international employment issues, family care issues, mental health issues, and lack of supervisor/mentor support, just to name a few.

I have subsequently written about some of the challenges postdocs face on this blog.
​See:

• The Challenges of Being an International Researcher: Implications for Advanced Degree Labor Markets
  
  • Part 1
  • Part 2
• ​​Call to Action: Measuring Postdoc Impact

I can't emphasize enough the value of getting involved in something beyond your work/lab/school while a graduate student or postdoc....you learn so much about other skills you have to offer and, through volunteering, have a chance to give back to your community. 

My exposure to the challenges and various levels of support available to postdocs at a national level was broadened by attending the National Postdoctoral Association (NPA)’s Annual Conference in 2017 and 2018. I learned from other postdoctoral offices and organizations about work that they were doing geared toward improving postdoctoral career readiness (i.e., thinking broadly about career options) and outcomes.

In speaking with NPA poster presenters, I learned how they successfully campaigned for higher starting postdoc salaries, organized joint events with nearby institutions to share costs, leveraged alumni networks, and tracked career outcomes. The importance of using data to campaign for change and track interventions was a key lesson I learned from these interactions.

In my current role, I have begun working on better postdoc career outcomes transparency. In fact, I present data on the subject during our mandatory new postdoc orientation at NC State University. By showing postdocs the range of career fields they can move into early in their tenure, I hope to prompt them to realize there are many successful "next steps" available to them after their time as a postdoc.
​
I have also led the development of a Postdoc Climate Survey we launched this year and hope to leverage this data to continue to advocate for initiatives that improve the postdoctoral experience here at NC State. 

Around the time I was becoming more involved in the postdoctoral community at Vanderbilt and beyond, I became interested in a career in science communication and medical writing. At the NPA annual meeting, I learned about The POSTDOCket, the online newsletter for the organization. I began writing for The POSTDOCket following the 2017 NPA annual meeting, where I profiled a workshop I attended by SciPhD.

Over the next few years, I wrote twelve pieces for the newsletter and continue to contribute to it. My interview with Sam Castañeda, a pioneer in postdoctoral support services and resources at the University of California, Berkeley, was particularly inspiring as I learned more about the impact that postdoc offices can have on improving the postdoc experience through community building, personal and professional support services, and advocating at the state and national level.

​In addition, I began writing about my own journey in career exploration for the NIH BEST blog in fall 2018, in hopes that sharing my experiences of the post-PhD job hunt would help current trainees on the job market.

I now serve on the NPA Board of Directors and liaise with The POSTDOCket team. If you are a postdoc or someone who supports postdocs, contributing your ideas and writing to The POSTDOCket is an excellent way to begin establishing yourself as a thought leader in the postdoc affairs space. Offering helpful advice to postdocs in The POSTDOCket is another excellent reason to write for this outlet.  

I had many great examples of career and professional development resources available to me while a postdoc at Vanderbilt. The Vanderbilt Office of Biomedical Research Education and Training (BRET) offers an incredible array of programming to graduate students and postdocs. During my  time as a postdoc at Vanderbilt I assisted in planning some of this programming. In fact, the people I worked with in the BRET Office at Vanderbilt were the ones who directed me towards a job advertisement for a postdoc program manager position for which they thought I was a good fit. After reading the job description they forwarded to me, it seemed to be a job where I could work to help postdocs feel more “career ready” and simultaneously try to improve institutional resources and support for them, which really appealed to me. 

While applying to this and similar program manager positions, I learned from a contact who I met at the NPA Conference (and on her LinkedIn feed, no less—the power of networking and LinkedIn in action!) of the postdoc program manager position at North Carolina State University—the ideal job for me (based on geographic preference and being nearer to family). The story of my first “real job” offer, subsequent soul searching, and eventual acceptance of my current position can be read elsewhere.

​One organization to keep on your radar if you are interested in a career in graduate or postdoc career & professional development work is the Graduate Career Consortium (GCC).
​I joined GCC shortly after beginning my position at NC State and have found the community very supportive and collaborative. GCCers share resources and ideas about how to help those of us working in PhD career and professional development do our jobs better. Through various committees, GCC members are focused on important topics around grad/postdoc career outcomes as well as developing useful resources for trainees including ImaginePhD, a career exploration platform for the humanities and social sciences. GCC members also share advice on career planning for both trainees and the professionals who serve them through the weekly Carpe Careers column on Inside Higher Ed. In addition, the GCC member message board is great way to learn about job openings in this space. Finally, the GCC offers a trainee membership for grad students and postdocs interested in learning more about a career in grad/postdoc career and professional development. 

Self-reflect & begin designing the life you want
Exercises to increase your self-awareness. 
Designing Your Career online course from Stanford University (free).
More life design resources from Stanford.