[timr]

There is no non-PhD pathway into biomed research that leads to career advancement beyond the drone level [1]. If you do get a PhD, there are few jobs, relative to the number of graduates. All in all, I'd advise against it, unless you have a very specific love of the field, and can handle a modest, academic lifestyle in exchange for working very hard at what you do. And for that, the drone-level jobs are perfect for testing the waters: you should get a job in industry first, and if you decide that you love it, get a PhD.

Also, beware the "$TOPIC is expanding rapidly" trap: synthetic biology is merely the buzzword of the moment. When I started, it was computational biology. Later, genomics. The number of opportunities created by these booms has never kept up with the hype waves that preceded them.

[1] There is, however, a pathway for "business" people who enter biomed. But I'm assuming you're not interested in this, and in any case, getting a PhD won't help you with it.

[timroy]

Thanks for the advice, that all sounds right to me. I particularly like the point about the $TOPIC of the moment.

The roll-your-own-company lab approach sounds a little better, overall. One tricky thing is that I'd have a lot more credibility starting a biotech company with a Ph.D. Right now I'm considering a Ph.D. to get the training and credibility (union card, as someone else said). Still not a slam dunk, though - Transcriptic's founder just has a bachelor's.