Our BLOG

Life Sciences 2024 Hiring Forecast

Share it
Facebook
Twitter
LinkedIn
Email

With 136,800 job openings projected for each of the next ten years, recovery from a tough 2023 hiring market should be assured. Dawn Fay, President of Robert Half, says, Competitive pay and flexible work are top of mind for professionals and will likely influence their career decisions in 2024. To attract and retain top talent – particularly in an uncertain economy – it’s critical for employers to rk salaries and compensation packages, consider options for hybrid work, and employ strategies to bolster employee engagement and morale. Here is leading Smith Hanley Associates Biostatistics and Medical Affairs Executive Recruiter, Nihar Parikh’s, Life Sciences 2024 hiring forecast for ten in-demand positions.

Biostatistics $140K – $230K
The job outlook is strong for Biostatisticians as employment is expected to grow 34% in 2024. Salaries for experienced Biostatisticians are ranging from $140k to $180k and Biostatistics Directors can expect $200k – $230k. New graduates with a MS in biostatistics are employed within the first few months of their availability.

Clinical Data Management $180K – $200K
The projected Clinical Data Manager job growth rate is 31% from 2018-2028. Clinical Data Management Directors are asking, and getting, $180k – $200k.

Clinical Project Manager $120K – $160K
The job outlook for Clinical Trial Managers is very positive. Employment is projected to grow 28% from 2021 to 2031. This growth is expected to be driven by several factors, including an increasing focus on patient-centered care and the need for more clinical research to develop new drugs and medical devices. Life Sciences 2024 hiring forecast for Clinical Project Managers is that they can expect salaries ranging from $120k to $160k.

HEOR Consultant $120K -$160K
The widespread use of electronic health records (EHR) data continues to create opportunities and hiring growth in for experienced health economics and operations research consultants. They can expect compensation at the junior level from $120k – $160k.

MSL $160K – $260K
Medical science liaisons are in great demand due to their critical function within life science organizations. The (BLS) projects that the job market for MSL’s will grow by 17% between 2021 and 2031. The trajectory of growth for this career sector is expected to maintain its momentum, driven by the escalating need for innovative therapeutic approaches. Life Sciences 2024 hiring forecast for the Medical Science Liaison candidate is for compensation between $160k and $200k, and Medical Affairs Directors commanding $240k – $260k.

Regulatory Affairs $200K – $230K
Changes in industry regulations are viewed as one of the top disruptive business trends facing pharmaceutical and life sciences organizations. The highest concentration of regulatory professionals is in Europe (35k), followed by North America (30k), and Asia (24k). Regulatory Affairs Directors are making between $200k – $230k.

R&D Scientist $120K – $150K
R&D employment—specifically in the biotechnology sector— grew by 8.7% last year. A recent Deloitte survey showed that 91% of life sciences organizations plan to invest in R&D innovation in the next year making attracting, developing, and retaining top clinical research talent a high priority. Approximately 10% growth in employment of medical scientists is projected from 2022 to 2032. They are making between $120k – $150k.

Statistical Programmer $120K – $160K
Clinical statistical programmer jobs are not in demand. This specialty area is projected to decline 7% from 2018 to 2028. Compensation, however, has remained steady at a base salary between $120k – $160k.

Do you agree with Nihar’s life sciences 2024 hiring forecast? He’d love to discuss your job search or your hiring needs and make sure your compensation is in line with the market. Work with him in 2024 by reaching out to Nihar Parikh at nparikh@smithhanley.com

Share it
Facebook
Twitter
LinkedIn
Email

Related Posts

PMSA Annual Conference Recap

WOW! What a conference! The 2024 PMSA Annual Conference delivered on pharmaceutical industry advanced commercial analytics content and training, on industry professionals to network with

Read More »
artificial intelligence ethics

Artificial Intelligence Ethics

Artificial Intelligence (AI) is not just transforming industries; it’s reshaping the ethical landscape of our digital world. As AI systems become more integrated into our

Read More »