7.28.23 FLASH REPORT ⚡ Looking For A New Job in Life Sciences? Here's What You Need To Know

The latest hiring and comp insights and trends for MedTech, Biotech, and Pharma are out!

Author

Nile Harris
July 28, 2023

ICYMI

Yesterday I partnered with Brittany Cole, founder of Career Thrivers, for a LinkedIn live stream lunch and learn session on how women can use their voice and thrive in their careers. Catch the replay below.

Brittany N. Cole on LinkedIn: 🚀 Calling all Phenomenal Women and Inspiring Executive Leaders! 🚀 I am… | 25 comments

🚀 Calling all Phenomenal Women and Inspiring Executive Leaders! 🚀 I am thrilled to extend a warm invitation to this Career Thrivers lunch & learn that holds… | 25 comments on LinkedIn

www.linkedin.com/posts/brittanyncole_calling-all-phenomenal-women-and-inspiring-ugcPost-7089102927117647872-eSBA?utm_source=share&utm_medium=member_desktop

Jacobs Management Group Inc. released its eighth annual Life Science and Compensation hiring report for 2023. The report breaks down hiring and comp by the major functions. This is a Flash Report, so I only share a few morsels.

The survey included 625 respondents with an average of 17 years of experience and includes 381 distinct titles. Here are some highlights:

  • Compensation is under pressure

  • 75% of companies have not changed or increased their hiring plans from 2022

  • The number one challenge for companies is recruiting top talent

  • The preference for remote or hybrid work is overwhelming

Listen. I get it if Life Sciences isn’t your jam. Flash Reports are meant to bring attention to relevant topics promptly. Be sure to check out past editions and stay tuned for information that may be of interest.

It’s crunch time in Life Sciences.

Like other industries, Life Sciences is experiencing downsizing. Many attribute their need to reign in budgets due to turbulence in the healthcare sector, supply issues, and inflation. In some cases, companies are reallocating their spending to support mission-critical initiatives.

The Jacobs Management Group conducts an annual survey to understand the landscape better. This year’s survey captures input from over 400 companies. The functions include all of the majors:

  • Sales

  • Marketing

  • Market Access

  • Regulatory

  • Quality Assurance

  • Human Resources

  • Supply Chain

  • R&D

  • Engineering and Product Development

  • Clinical Affairs

  • Medical Affairs

  • Finance

Cari Kraft, the CEO of Jacobs Managment Group, Inc., says, “Our industry has experienced an unprecedented talent squeeze creating both time pressure and an increase in compensation across the board.”

If you work in Medical Devices, Biotech, Pharma, Diagnostics, and Healthcare, here are a few tasty morsels from the report.

Subscribe to keep reading

Ready to close the gap? This content is free to subscribers of The Gap Dēmĭstəfīed.

Already a subscriber?Sign In.Not now