Labor market

Among those who connected salary increases to swapping out employers, 75% saw pay rise by at least 6%, and the most often cited increase was 10%, according to the just-released BioSpace salary report.

BioSpace‘s 2026 U.S. Life Sciences Salary Report delivers a comprehensive look at how salaries, bonuses and benefits evolved over the past year amid ongoing economic pressure and workforce recalibration. It uncovers not just what people are earning, but how they’re thinking about compensation, career moves and total rewards in 2026.

Last month, for the first time in nearly four years, average job postings live on BioSpace did not decline year over year. In another encouraging sign, the number of biopharmas letting employees go fell.

Over half of biopharma professionals would work again at the companies that let them go, according to a BioSpace LinkedIn poll. Several professionals, as well as recruiting and talent acquisition experts, discuss reasons for—and a key risk of—going back.

Employees are reassessing, leaders are celebrating data that should make them nervous and job seekers are absorbing a narrative that doesn’t match their reality. Executive coach Angela Justice discusses how each of these groups are affected when the job market thaws.

Contract work opportunities have grown year over year, and recent reports show more people are in this type of role, according to BioSpace data. Three biopharma professionals share why they’ve become contractors and discuss the pros and cons.

BioSpace data show job postings live increased quarter over quarter, while layoffs fell year over year.

Biopharma professionals need to understand today’s job market and how they can stand out to position themselves for success. Three talent acquisition and recruiting experts discussed these topics in a BioSpace webinar, from the importance of contract work to the value of an advocate.

Last month, biopharmas let go or projected they would let go of less than 500 people combined, based on BioSpace estimates, down almost 1,000 from January 2025. Still, competition for open jobs remains strong, with employed and unemployed biotech and pharma professionals eyeing their next roles.

Biopharmas are less focused on local job candidates and are more open to recruiting regardless of location, according to the new BioSpace employment outlook report. Even employers who prefer to hire locally would consider remote hires for some roles.