Insights from our Expert Roundtable

Experts from CBRE and Pivot Bio discuss sector trends, including the top markets for life sciences research talent.

Executive Summary

The number of U.S. life sciences research professionals grew by 3.1% last year to a record 545,000,
compared with a 2.2% increase for all U.S. occupations.
The labor market for life sciences research talent remains extremely tight.
Although a slowing economy could change this dynamic, the number of U.S. life sciences researchers has not declined in more than 20 years through three recessions.
U.S. life sciences researchers tend to be younger, slightly more diverse and have higher salaries and wage growth than the overall U.S. workforce.
The average salary for U.S. life sciences researchers increased by 14.5% between 2018 and 2021, compared with 10.2% for all private industry employees. This trend will likely persist through 2023.
The number of college graduates earning biological and biomedical sciences degrees increased by 4.8% year-over-year in 2021 to 171,520.
Certain metros are producing high numbers of graduates in specialized life sciences fields, such as Washington, D.C./Baltimore for biotechnology and Sacramento for genetics.
CBRE has identified the top 25 U.S. markets for life sciences research talent in 2023.
The top three markets remain Boston/Cambridge, the San Francisco Bay Area and Washington, D.C./Baltimore.

Philadelphia, Denver/Boulder, Miami/Fort Lauderdale and Sacramento showed the most improvement in the top 25 rankings from the previous year.

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