Projected: US Salaries to Stabilize with a 4% Increase in 2024
The 2023 CSBI-TEconomy National Workforce Trend report highlights a thriving job market in life sciences, with 83% of employers actively hiring in recent years. Top players like Quest Diagnostics and Johnson & Johnson lead in job postings, while wage increases driven by talent competition and inflation are evident. BioSpace's 2022 salary report reflects a notable salary surge from $114,000 to $138,000 between 2019 and 2022, with job hoppers enjoying substantial raises of over 25%.
Average CEO Salary snapshot:
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Some key findings:
✅ Decline of 57% in job openings within the life science sector between 2022 and 2023.
✅ In 2023, average salary increase dropped to 3%, slightly below the national inflation rate of 3.5%.
✅ Total Seed to Series B Investment amount is 3x higher in the US but there is only 2x more biotechs in the US.
✅ $490k is the average C-suite base salary
✅ 35% is the average C-suite bonus
Plus more information on the report.