Biostatistics Market Overview
The movement of talent through voluntary resignation and job shifting has hit every corner of the business world, and life sciences biostatistics is no exception. Leaders across industries say they are struggling to find staff or hire candidates before competition poaches them and this is particularly acute for biotech in talent havens like Ph.D and M.D. rich Boston or San Francisco, the land of startups.
Boston and Cambridge, Massachusetts are home to a large number of biotech firms, offering some of the highest average salaries for life sciences professionals in the country. California’s Bay Area, the biotech hub of San Diego, and the East Coast also offer high salaries to attract talent. Location is very important when it comes to compensation in the pharma sector. Average salaries for full-time employees grew at a rate of 8% from 2021 to 2022, outpacing the 6% growth rate seen in the previous year according to a report from Biospace.com..
“The attrition issue, the retaining and recruitment, is one of the top two or three priorities we are hearing in the industry. And it is not necessarily the office talent, but also talent in the labs, talent doing the clinical studies,” said Arda Ural, Ph.D, Americas industry markets leader for life sciences at EY.
Biostatistics salary inflation in the upper echelons of biotechs is growing at “an incredible level” and is now “a truly negative feedback loop,” said Otello Stampacchia, founder and managing director of biotech investment shop Omega Funds. “Everybody we meet has six offers, and so it becomes a timing issue more than anything else,” Immunitas CEO Jeffrey Goldberg told Fierce Biotech in August.
Biostatistics Salary Data
Director, Biostatistics – $200,000 – $225,000
Associate Director, Biostatistics – $175,000 – $195,000
Principal Biostatistician – $160,000 – $200,000
Senior Biostatistician – $140,000 – $160,000
Senior Manager, Statistical Programming – $150,000 – $160,000
The demand for biostatisticians remains extremely high. Biostatistician jobs are expected to grow 31% from 2019 to 2029, according to The Bureau of Labor Statistics. This makes it one of the top ten fastest-growing jobs in the U.S. While government agencies are increasingly relying on statistical analyses to determine the effects of a variety of studies on mental and physical health, the sector with the highest demand for biostatisticians continues to be the pharma and biotech industry.
Clinical Data Manager – $120,000 – $140,000
Clinical Trials Manager – $130,000 – $160,000
We work on a number of clinical trials and research roles for our clients. The global clinical staffing market is expected to be $7.03 billion in 2022 and grow at approximately 7.5 to 8% through the 2020-2026 period, according to Clinical Leader. The increasing complexity of trial protocols, study procedures, trial design, and volunteer recruitment, as well as the globalization of clinical trials demanding regional regulatory compliance, are the major factors driving this market.