Science Degree Satisfaction - A Report on the Cost of Employing Professors in Physics

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Physics in Ireland:

the brightest minds go further

May 2011

A report prepared for the Institute of Physics by Tom Martin & Associates

Physicists

Go far

Earn more

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The Institute of Physics in Ireland

The Institute of Physics in Ireland (IOPI) is a scientific membership organisation devoted to increasing the understanding and application of physics in the Republic of Ireland and Northern Ireland. It has over 2,000 members, and is part of the Institute of Physics.

IOPI aims to promote the role of physics in education, health, the environment, technology, and scientific literacy. Its membership is wide- ranging and multidisciplinary, including the educational, industrial, medical, and general public sectors. The institute seeks common purpose with other learned societies to promote science and science-based learning and to influence science policy in the two jurisdictions on the island. Special emphasis is placed on supporting physics teachers by promoting in our schools the value, joy and benefits of a knowledge of physics and its applications.

The Institute of Physics

The Institute of Physics is a scientific charity devoted to increasing the practice, understanding and application of physics.

It has a worldwide membership of around 40,000 and is a leading communicator of physics-related science to all audiences, from specialists through to government and the general public. Its publishing company, IOP Publishing, is a world leader in scientific publishing and the electronic dissemination of physics.

IOP Institute of Physics in Ireland c/o School of Physics

University College Dublin Belfield

Dublin 4

Tel +353 86 2600903

E-mail sheila.gilheany@iop.org www.iopireland.org

Photo credits: Medical radiotherapy linear accelerator – Andrew Brookes, National Physical Laboratory/Science Photo Library

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PHYSICS IN IRELAND — THE BRIGHTEST MINDS GO FURTHER i

List of tables and diagrams

Table 1.1 and Figure 1.1: Respondents’ current salary range 2

Table 1.2 and Figure 1.2: Sectors in which respondents were employed 3

Table 1.3 and Figure 1.3: Main employers 4

Figure 1.4: Type of physics degree obtained 4

Figure 1.5: Decade in which respondents were born, and gender profile (%) 5 Table 1.4 and Figure 1.6: Year in which respondents last obtained a physics degree 5 Table 1.5 and Figure 1.7: Profile of the respondents’ current geographical location 6 Table 1.6 and Figure 1.8: How useful were the following skill sets in your career? 6 Table 1.7 and Figure 1.9: Starting salaries for graduates in selected sectors 7

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Executive summary

This report presents the findings of a survey of physics graduates from third level colleges in both Northern Ireland and the Republic of Ireland. The key findings of the survey are:

■

■ Physicists have the potential to earn very good salaries (the survey found that 14% of graduates earn more than €100,000 a year)

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■ While physics graduates from Irish universities and institutes of technology mainly work in Ireland, they have found employment all over the world (Europe, North America and the Asia Pacific region)

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■ Graduates with physics degrees are employed in a wide range of sectors ranging from high-tech industries to the arts and the media

■

■ Physics graduates have skill sets such as problem solving, team working and creativity that are widely sought after by employers

■

■ An increasing number of women are pursuing a career in physics: just under a third of the survey respondents were female

■

■ Physics graduates often hold a further qualification in another discipline: a fifth of respondents said they also held a H.Dip. Ed. or PGCE teaching qualification while a similar proportion gained a post- graduate qualification in another discipline

■

■ Graduates with a higher level physics qualification (Masters, PhD) are contributing to Ireland’s rapidly growing third level research community in disciplines such as ICT, biotechnology and nanotechnology to name but a few

The bottom line? A physics qualification is a passport to a well-paid career in a wide variety of sectors throughout the world. A degree in physics can lead to a varied, interesting and rewarding career.

PHYSICS IN IRELAND — THE BRIGHTEST MINDS GO FURTHER PAGE 1

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1. A profile of physics graduates

Introduction

A survey of physics graduates from third level colleges in Ireland was undertaken in 2010. A total of 822 physics graduates completed the survey (details of the survey methodology are presented in Appendix 1).

Earnings

Respondents were asked to specify their current annual salary range and the data indicate that 14% of respondents are earning in excess of €100,000 per annum with 5% earning over €150,000.

Table 1.1 and Figure 1.1: Respondents’ current salary range

Salary level % of

respondents

Up to €19,999 16

€20,000–29,999 8

€30,000–39,999 11

€40,000–49,999 13

€50,000–59,999 11

€60,000–69,999 9

€70,000–79,999 8

€80,000–89,999 6

€90,000–99,999 4

€100,000–€149,999 9

More than €150,000 5

Seven per cent of female respondents and sixteen per cent of male respondents said that they earned over €100,000 per annum.

Twenty seven per cent of all respondents had an annual salary of between €60,000–€100,000.

Table 1.1 indicates that, in 2010, the majority of physics graduates earned more than the estimated average annual earnings of all employees (c. €35,000) based on quarterly earnings published by the Central Statistics Office for Quarter 3, 2010, for all economic sectors excluding agriculture, forestry and fishing.

The majority of the respondents to the survey were working (84%), of which just under four-fifths were working full-time and the balance were part-time. The remaining respondents were either retired, on a career break or seeking employment.

Up to €19,999

€20,000–29,999

€30,000–39,999

€40,000–49,999

€50,000–59,999

€60,000–69,999

€70,000–79,999

€80,000–89,999

€90,000–99,999

€100,000–149,999 More than €150,000

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Sectors where respondents are currently employed

The survey responses show that physics graduates are working in a wide variety of sectors including manufacturing and services (both public and private).

While four out of ten respondents worked in the education sector (both second and third level), physics graduates were employed in a diverse range of sectors including health and finance — proving that employers hold graduates with a physics qualification in high regard.

Just over 14% of respondents were working in Communications/IT/electronics while a smaller percentage (7%) were employed in other high-tech sectors such as Pharmaceuticals/chemicals/

medical devices, Aeronautics/space and Energy. Physicists were also to be found in the Construction, Environment, Leisure/tourism/retail and Media/arts sectors (see Table 1.2 below).

There can be no doubt that a physics qualification opens doors to employment in a wide range of sectors.

Table 1.2 and Figure 1.2: Sectors in which respondents were employed

Sector % of

respondents

Aeronautics/space 1.6

Communications/IT/electronics 14.3

Construction 0.9

Defence forces 0.4

Education – 2nd level 21.8

Education – 3rd Level 20.2

Energy 3.2

Environment 1.6

Finance 5.6

Government/non-profit 6.9

Health/medicine 6.4

Leisure/tourism/retail 0.6

Media/arts 0.6

Pharmaceuticals/chemicals/medical devices 2.6

Other 13.3

An analysis of the occupational choices of recent physics graduates (those who graduated after 2000) indicates that they follow a wide variety of career paths including:

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■ Software ^■^■ Astrophysics ^■^■ Renewable energy

■

■ Biophysics ^■^■ Quantum physics ^■^■ Financial services

■

■ Plasma physics ^■^■ Transport ^■^■ Nanotechnology

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■ Instrumentation ^■^■ Materials research ^■^■ Micro systems technology The range of sectors in which physicists are involved is positive proof that a qualification in physics is a passport to a varied and fulfilling career.

Respondents were fairly evenly divided between the main employer categories of academia, industry and government/not-for-profit as shown in Table 1.3 below.

PAGE 3 PHYSICS IN IRELAND — THE BRIGHTEST MINDS GO FURTHER

Communications/

IT/electronics

Education (2nd level)

Education (3rd level) Finance

Health/medicine

All other sectors 14.3%

21.8%

20.2%

5.6%

6.5%

31.6%

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Table 1.3 and Figure 1.3: Main employers

Employer categories % of

respondents

Industry 24.7

Academia 34.0

Government/not-for-profit

including hospitals/schools 31.1

Other 10.2

Degree obtained

Respondents were asked to specify what physics degrees that they held. 822 said they had a Bachelors degree in physics while 235 said that they held a Masters degree with a further 37 saying that they held another post-graduate physics qualification. A total of 227 respondents had qualified with a doctorate in physics. 157 respondents said that in addition to a physics degree they also held a H.Dip. Ed. or PGCE (teaching) qualification.

A total of 175 respondents said that in addition to holding a physics degree they also gained a post- graduate qualification in another discipline.

The experiences of the survey respondents show that holders of Bachelors degrees in physics have varied options open to them in terms of further qualifications. As the light blue arrows in Figure 1.4 below shows, a graduate with a Bachelors degree can progress to higher level physics qualifications such as a Masters degree or a doctorate. Another group of respondents (denoted by the green arrow) opted for a teaching qualification and are now teaching physics to the next generation. The darker blue arrow shows that yet another group of respondents branched out by gaining a post-graduate degree in another discipline.

Figure 1.4: Type of physics degree obtained

Bachelors degree in physics

822

Masters degree in physics

2. Starting salaries for physics graduates

gradireland, the publishing arm of the Association of Higher Education Careers Services, has released data on starting salaries for graduates in a number of sectors.² The results for 2009 indicate that sectors in which physicists are commonly employed have high median starting salaries.

Graduates working in Science, research and development had a median starting salary in 2009 of

€38,000 compared with the median starting salaries of graduates employed in Banking, insurance and financial services of €26,000 and Accountancy and financial management of €21,600 (see Table 1.7 and Figure 1.9 below). Starting median salaries for graduates working in the Engineering and manufacturing and IT and telecoms sectors were also higher than in the Banking and Accountancy sectors.

The Science, research and development, Engineering and manufacturing and IT and telecoms sectors accounted for a quarter of all graduate jobs created in 2009.

Table 1.7 and Figure 1.9: Starting salaries for graduates in selected sectors

Sector Median

salary 2009

Science, research and development (R&D) €38,000 Law, legal services and patents €32,000

Engineering and manufacturing €28,000

Logistics and transport €27,000

IT and telecoms €26,500

Retail and sales €26,500

Banking, insurance and financial services €26,000 Accountancy and financial management €21,600

(Source: gradireland Graduate Salary & Graduate Recruitment Trends Survey 2010)

The gradireland survey results clearly show that graduates with a technical qualification such as physics have the potential to achieve high starting salaries across a range of industry sectors.

The Hudson 2010 Ireland Salary Guide ³ reviewed salaries and employment prospects across key sectors of the economy. While acknowledging the difficulties facing Irish business, Hudson said it believed a number of technical sectors were showing growth; these included the medical devices, pharmaceuticals, utilities and environmental services sectors — sectors in which physics graduates are regularly found. The Hudson study noted that in the technical and engineering disciplines, project managers with between 1–10 years experience could command an annual salary ranging from

€50,00–75,000 excluding bonuses.

Science, R&D Law, legal services

& patents Engineering &

manufacturing Logistics & transport IT & telecoms Retail & sales Banking, insurance

& financial services Accountancy & financial

management

Median salary 2009 (€) €40K

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3. Physics: its role in the Irish economy

Heritage

Irish physicists have a long and distinguished history, but perhaps the finest of them was William Rowan Hamilton of Dublin. Hamilton reformulated Newton’s Mechanics, a development that was to prove useful not just in electromagnetism, but in quantum mechanics. He also invented quaternions, an extension of complex numbers to higher dimensions. William Thomson of Belfast was a 19th century giant of thermodynamics, whose title (Lord Kelvin) is the unit of absolute temperature. Ernest Walton, born in Waterford and educated in Belfast and Dublin, split the atom with John Cockcroft in Cambridge, becoming the only Irish scientist to win a Nobel prize.

Recent research by the Higher Education Authority and Forfás⁴ reveals that Irish physicists in leading- edge research centres have gained a larger share of the world market in research publications and, as testimony of their quality, the number of times these publications have been cited by other researchers has also been increasing.

In 2010, ScienceWatch.com⁵, a division of Thomson Reuters, ranked Northern Ireland and Ireland in the top 20 countries for the number of citations per paper in relation to academic papers published in Thomson Reuters-indexed journals during the period January 2000–August 2010.

Physics: its significant contribution to the Irish economy

A report published by the Institute of Physics in October 2007, Physics and the Irish Economy,⁶ highlighted the significant and positive contribution of physics to the Irish economy in 2005 on a number of different levels. The report showed that:

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■ In 2005 there were more than 85,500 jobs in physics-based sectors in the Republic of Ireland. This compared with 82,000 jobs in the banking, finance and insurance sector and was equivalent to 5.3% of all jobs in the economy.

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■ Physics-based sectors contributed €15 billion to the Irish economy in 2005

— 10.5% of total Gross Value Added (GVA) generated in the economy. This

was slightly more than the 10.1% share of total national GVA accounted for by Ireland’s banking, finance and insurance sector in the same year.

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■ Productivity in physics-based sectors is also relatively high. On average between 2000 and 2005, the GVA per employee in physics-based sectors was around €150,200 per annum — approximately 88% higher than the national average.

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■ The physics-based sectors also had a positive multiplier effect. Expenditure of physics-based sectors on intermediate goods and services in Ireland in 2005 helped to support 69,100 jobs and

€6.1 billion worth of GVA in supplier sectors.

PHYSICS IN IRELAND — THE BRIGHTEST MINDS GO FURTHER PAGE 8 Physics and the

Irish Economy

Institute of Physics Report

A report prepared for the Institute of Physics by the Centre for Economics and Business Research Ltd October 2007

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■ The spend of employees from physics-based sectors on goods and services in the wider economy amounted to €3.1 billion in 2005. This helped to support 16,700 jobs and more than €1.5 billion worth of GVA in the wider economy.

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■ Physics-based sectors also play a vital role in the economy by supplying intermediate goods and services to many other industries. In 2005, these industries spent a total of €18.2 billion on intermediate goods and services from physics-based sectors. This is equivalent to 128,400 jobs and more than €9.6 billion of the GVA generated in these non physics-based sectors.

A review of Science, Technology, Engineering and Maths (STEM) in Northern Ireland⁷ by the Department of Education and the Department of Employment and Learning in Northern Ireland has pointed out that a strong, STEM educated workforce is fundamental to economic growth for the following reasons:

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■ Economic studies conducted before the information technology revolution, have shown that the vast majority of growth in per capita income is due to technological change.

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■ Studies have also highlighted how companies with qualified scientists and engineers in senior positions tend to invest in projects which bring a longer term benefit and have better performance.

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■ The opportunity to attract Foreign Direct Investment will be enhanced by a society with a workforce with good qualifications in STEM subjects. Multinational companies cite access to qualified personnel as a major factor in developing off-shore operations and this past decade has seen a move from traditional, capital-based investment to a more knowledge-based investment providing access to intellectual property.

The STEM review indicates that increasing Northern Ireland’s GVA will be influenced by research and development, innovation and scientific management, all of which require a supply of graduates with appropriate STEM skills.

Physics and Innovation Ireland

Physics-based sectors are important building blocks for the achievement of the Government’s stated ambition of making Ireland “an innovative, high-value export-led economy with some of the world’s leading research-intensive multinationals and thousands of innovative small and medium enterprises.” ⁸

The Government’s investment over the last decade, for example, in nanotechnology has made Ireland a home to a world-class infrastructural base which will serve as a strong foundation for producing high-quality nanotechnology research and ensuring Ireland’s international competitiveness in this area.

Physics occupies a central position in nanotechnology as witnessed by the role of nanoelectronics, nanomechanics and nanophotonics in providing a basic scientific foundation for nanotechnology.

The contribution of highly qualified Irish physics graduates will be essential to progressing Ireland’s nanotechnology efforts across key application domains — Next generation electronics, Medical devices and diagnostics, Environmental applications and Industrial process improvements.

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Methodology

The data used in Section 1 was collected through an on-line survey of physics graduates of third level institutions in Northern Ireland and the Republic of Ireland. The data collection process involved the development of a questionnaire and the identification of lists of graduates with a physics degree or with a degree the final year of which incorporated a significant physics component.

The graduates were contacted by email or by letter and invited to participate in the survey. The online poll consisted of 13 questions and was conducted during May-July 2010.

The vast majority of the 822 graduates with a physics degree who responded to the survey obtained their qualification in Northern Ireland or the Republic of Ireland.

Graduates from the following third level institutions were surveyed:

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■ Cork Institute of Technology ^■^■ Dublin City University

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■ Dublin Institute of Technology ^■^■ National University of Ireland, Galway

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■ National University of Ireland, Maynooth ^■^■ Open University

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■ Queen’s University Belfast ^■^■ Trinity College Dublin

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■ University College Cork ^■^■ University College Dublin

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■ University of Limerick ^■^■ University of Ulster

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■ Waterford Institute of Technology ^■^■ Other N. Ireland College

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■ Other ROI College ^■^■ Other college outside NI/ROI

References

1. Institute of Physics (2009), Physics in Scotland: the brightest minds go further.

2. gradIreland (2010), Graduate Salary & Graduate Recruitment Trends Survey 2010.

3. Hudson (2010), 2010 Ireland Salary Guide.

4. Forfás and the Higher Education Authority (2009): Research strengths in Ireland: a bibliometric study of the public research base.

5. ScienceWatch.com.

6. Institute of Physics (2007), Physics and the Irish Economy.

7. Department of Education and the Department of Employment and Learning (2007), Report of the STEM Review.

8. Department of the Taoiseach (2010): Innovation Ireland — The Report of the Innovation Taskforce.

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Physics in Ireland:

the brightest minds go further

For further information contact:

Sheila Gilheany

Institute of Physics in Ireland c/o School of Physical Sciences University College Dublin Belfield, Dublin 4 Tel +353 86 2600903 E-mail sheila.gilheany@iop.org www.iopireland.org

Science Degree Satisfaction - A Report on the Cost of Employing Professors in Physics

Physics in Ireland:

the brightest minds go further

May 2011

A report prepared for the Institute of Physics by Tom Martin & Associates

Physicists

Go far

Earn more

Table of contents

List of tables and diagrams

Executive summary

1. A profile of physics graduates

2. Starting salaries for physics graduates

3. Physics: its role in the Irish economy

Methodology

References

Physics in Ireland:

the brightest minds go further