Talk at Nov 2013 New Principal Investigators meeting discussing startup negotiating, what to ask for, what others ask for, why the first 5 years of an independent position is so important and how to tease seed funding. Canadian context but applicable to many scenarios.
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New Investigators: starting up and keeping going
1. Start Me Up
(a state of mind)
**Motherhood alert: much of what I will say may be
obvious to a mildly alert 10 year old
2. 1. Start-up packages & lab essentials
2. How to support your lab (& yourself)
3. Maximizing opportunities & setting expectations
3. Why is your Start Up phase important?
h-index
h-index
The exception
h-index over time
year
h-index
year
h-index
After first 5 pubs, trajectory
relatively consistent
year
h-index
year
year
h-index
h-index
First 5 years of
independence often
most productive
h-index
year
year
year
4. Prof. Salaries
10
8
6
4
2
0
Monthly
$1,000s,
adjusted for
purchasing
power parity
pre-tax
Public Universities
â˘
The good newsâŚ. âAcademics in Canada, where the entry level
salaries averaged $5,733, and full professors were paid an
average of $9,485, had more cause for celebration than in the
United States, where newly hired faculty members averaged
$4,950 and full professors $7,358
http://www.nytimes.com/2012/04/02/world/europe/02iht-educlede02.html
7. Start Up Packages
â˘
Value varies considerably - bigger not necc. better
â˘
Sets expectation on new PI
â˘
If too low, slows success & fosters resentment
â˘
If too high, performance expectation also v. high
â˘
Often small print clauses/clawback
â˘
Little relationship to date/economy
â˘
These are Assist. Profs. Secondary moves usually involve bigger
start-ups but also grants often also moved.
8. Negotiation Tips
Split into infrastucture/operating/people
Infrastructure:
â˘
Be reasonable - build a list of equipment and ask what is
accessible/can be shared. Understand the environment
you are entering, inc. policies
â˘
Be prepared to write grants to support equipment (CFI,
etc) - but secure guarantee
â˘
Donât over engineer what you likely wonât use &
remember the small stuff & service contracts
â˘
Lab size & layout - possibilities for expansion?
9. Operating
â˘
Depends on type of lab but rules of thumb:
â˘
Wet lab: ~$15K per person/year
â˘
If mouse lab, add $2-3K
â˘
Dry lab: ~$5K per person/year
â˘
Include software seats
10. Personnel
â˘
3-4 people: e.g. postdoc, technician, student
â˘
Negotiate for 2-3 years but be prepared to cede
one to each grant
â˘
Can be in form of student stipends/fellowships
â˘
Technician is critical hire (3 months probation)
â˘
May not be eligible to recruit PhD student initially,
dependent on rules of department (may be able
to âco-superviseâ)
11. â˘
A start up budget is like an ancient grant budget (when salaries,
equipment, consumables, were all eligible expenses)
â˘
Consider your start up as grant zero
â˘
Build it by thinking about what you need to do in advance of & to
enable your first grant
â˘
You get one shot. It looks bad to go back & ask for changes.
Moving money between the elements is OK but ask permission
â˘
A start up budget buys time but itâs value immediately drops (like
driving a new car off a lot)
â˘
Clawback (on awarded grant) is OK. It will be remembered &
helps next recruit
12. â˘
Departments want/need you to succeed. Build your
budget from bottom up. Donât start with a target number.
Youâll lose credibility without justification/priorities
â˘
Your departmental assessment at ~5 years (often with
intermediate checks) depends on many factors but
donât:
â˘
grow too fast OR try to protect start-up for a rainy day
â˘
Share and collaborate within and without dept.
â˘
Be a good citizen (dept duties) but realize these donât
substitute for your scientific productivity.
13. Supporting Your Lab
â˘
Grants, grants, grants
â˘
These show independence, recognition by peers, competitiveness, etc.
NO SUBSTITUTIONS
â˘
Very difficult to obtain 2nd grant from agency before renewing first
â˘
Donât submit prematurely, have your grants read by peers, read your peers grants,
get on panels/review other grants
â˘
Plan, plan, plan (deadlines, preliminary data, awareness of opps, etc).
â˘
Look for small, targeted grants as well as the bigger ones (RFPs, etc).
â˘
Encourage your trainees to write for studentships and fellowships.
â˘
PublishâŚâŚ.
â˘
5 years goes by in an instant
14.
15. Grants
â˘
Be aware of pending changes in grant programs
â˘
â˘
â˘
especially CIHR (Project & Foundation)
but all grants frequently change their eligibility
& requirements (LOI, ROI, etc.)
Keep CV up to date, build ResearcherID &
ORCID files (esp. if have common surname)
16. Seed Funding
â˘
Most departments/institutes have some discretionary reserves. These
can be accessed with good ideas but there are ground-rules:
â˘
Donât consider this reliable funding. Itâs one-off & opportunistic
â˘
Itâs also used to bridge grants, deal with unanticipated events
â˘
Best pitches involve careful financial plan, advancing of funds (that
have likelihood of repayment) & involve other colleagues. Be visionary
but realistic. Share risk (by putting own resources into it)
â˘
Minimally, garner support of your colleagues. Deans, chairs, etc. rely
on others for advice. Differentiate seed funds from bridging funds
â˘
Donât renege on outcomes if wish another kick at the seed can
17. Summary
â˘
Your recruitment is a partly mitigated risk. You are part of the equation.
Your success is mutually beneficial to you & your recruiters.
â˘
Mistakes are expensive & wasteful for you, your trainees & funding
agencies.
â˘
There is no perfect plan. You were recruited because you exhibit
promise & potential. The department is partly on the hook for you to
realize that potential but, ultimately, your fate is in your hands.
â˘
Donât compare yourself to others to set the bar. There are many elements
considered & others may have other advantages.
â˘
Build your reputation & your publications. These are your currency.
â˘
Start-up phase thinking should last for your entire scientific career.