Independent research conducted by SRG has uncovered valuable insights and workforce data from across science sectors, designed to help employers and employees alike gain a better, more detailed view of the current scientific talent market, the value of roles integral to driving research and innovation, and understand the current potential for hiring and career development opportunities.
In this blog, one of a three-part series, we focus specifically on Life Sciences, including the Pharma and MedTech sectors, highlighting Life Sciences salary benchmarks, demographics, and the potentially lucrative salary prospects that Life Sciences jobs are offering as science evolves to meet ever-changing global demands.
Salary Benchmarking: What are the top paying Life Sciences jobs?
The Life Sciences sector has a vital role in driving scientific innovations, discovering life-changing drugs and treatments, and improving the quality of our lives.
As the sector experiences rapid, large-scale growth, it continues to attract investment and expand its research and development capacity. As a result, there is increasing demand for highly skilled professionals, and salaries offered for many integral roles are reflecting this need for talent, highlighting the level of competition in the hiring market, and suggesting that candidates are currently in a great position in terms of earning potential.
Suggested Read: Skills Shortages in the UK
Qualified Persons and Data Scientists for example can expect between £100,000-£120,000 a year in high demand areas such as London, whilst elsewhere in the UK such roles are paying an average of £90,000. Even on a day-rate basis, Qualified Persons are being paid up to £1,500 a day in high-demand regions. At the opposite end of the scale, entry to mid-level Life Sciences jobs, such as Analytical Scientists and Research Associates, boast impressive annual salaries, particularly in high-demand or high skill areas, with earnings potential of up to £70,000.
Our research into Pharma career opportunities and roles in MedTech specifically highlight similar trends too; the UK average salaries for jobs in the MedTech sector range from between £41,000 to £85,000, whilst the earnings potential in Pharma roles ranges from £32,000 a year for entry to mid-level roles to up to £140,000 for highly-skilled positions in high-demand areas.
Workforce Demographics and Diversity in Life Sciences
Looking beyond salary benchmarks and demands, our research also includes fascinating workforce demographic, diversity and tenure insights from across Life Sciences sectors and roles, highlighting areas where groups are well represented or where gaps remain, and the challenges that are still being faced by organisations and talent alike.
Addressing gender representation for example, we discovered that Life Sciences and Pharma are at the forefront of narrowing the gender gap in scientific environments, with a 52% female/48% male split in Life Sciences roles and a 49% female/51% male split in Pharma respectively. MedTech lags behind however, with a 36% female/64% male split, suggesting the sector has work to do.
Suggested Read: Gender pay gap & breaking down pay inequalities
Meanwhile, when we look into the experience levels of those within each sector, the numbers are relatively consistent, with most having many professionals with over 8 years of experience. Though the prevalence of experienced professionals signals the advanced technical requirements of these roles, these insights also emphasise the need for continuous development pathways for early-career talent.
But whilst experience levels suggest that many people have enjoyed long Life Sciences careers, these careers are likely to have been spent moving between multiple roles and organisations. Our average tenure data highlights that people spend 1.7 years in Life Sciences roles on average, 1.4 years in MedTech roles, and 2.2 years in Pharma roles, emphasising a clear need for organisations to not only work toward attracting top talent, but also devise ways to retain, nurture and develop them.
Suggested Read: How to attract and retain top STEM talent
Life Sciences Career Opportunities & In-Demand Talent
Based on our findings, employers in particular have much to consider. They will need to ensure that their salary, benefits, and career development opportunities are in line with current sector and role trends. They need to consider how they approach gender equality, strive to futureproof their workforce, and work hard to retain their very best talent.
Candidates, meanwhile, can take plenty of positives from these insights. As scientific sectors and organisations work to make science careers available to all; ensure their salaries are competitive and in line with current trends, in order to attract top, in-demand scientific talent; and enable personal and professional development that will drive retention, people will be needed, ready and waiting to take these exciting opportunities presented to them.
How SRG supports your career or hiring needs
SRG is an industry leader in providing next generation talent solutions for life sciences, across sectors including Biotech, Medtech, Pharma, as well as Chemicals, Food, Drink & FMCG, and Clean Tech & Renewables.
Drawing on deep industry knowledge and the expertise of our recruitment and workforce specialists, we connect innovative organisations with exceptional talent from across the scientific landscape. Our expertise spans recruitment for permanent positions, contract roles, and project-based assignments, giving businesses the flexibility to adapt and succeed in a competitive market.
We pride ourselves on a deep understanding of the unique challenges and opportunities within the scientific industries we serve. By leveraging a vast network of industry experts and a data-driven approach to talent acquisition, SRG delivers tailored solutions that empower both clients and candidates to achieve their ambitions.
Whether you are seeking to build a forward-thinking team or take the next step in your career, SRG offers dedicated support, insightful market knowledge, and a commitment to excellence in every partnership.
Contact us to discuss your hiring needs now or explore our current vacancies to see where your career journey could take you next.
