question: Between April 20, 2020 and June 19, 2020 we conducted a survey of the membership of the Psychiatric Genomics Consortium (PGC) to explore the impact of COVID‐19 on their research and academic careers. A total of 123 individuals responded representing academic ranks from trainee to full professor, tenured and fixed‐term appointments, and all genders. The survey included both quantitative and free text responses. Results revealed considerable concern about the impact of COVID‐19 on research with the greatest concern reported by individuals in nonpermanent positions and female researchers. Concerns about the availability of funding and the impact of the pandemic on career progression were commonly reported by early career researchers. Recommendations for institutions, organizations such as the PGC, as well as individual senior investigators have been provided to ensure that the futures of early career investigators, especially those underrepresented in academic medicine such as women and underrepresented minorities, are not disproportionately disadvantaged by the COVID‐19 pandemic.