Carrot Recruitment’s Post

An interesting read - BioSpace’s 2024 US Life Sciences Salary Report highlights key salary trends in the Life Sciences sector. Salaries have grown at a modest 2%, marking the slowest rate in the last five years. Despite economic challenges and hiring slowdowns, 65% of full-time employees did in fact receive reported salary increases, with most raises being merit-based rather than the result of changing employers. The gender pay gap remains, with women earning 88% of what men earn, and racial wage disparities persist, though there are positive signs of improvement for minority groups. Bonuses stayed stable, with 70% of respondents receiving one, and regional salary differences stand out, with areas like the Bay Area and Boston offering the highest total compensation. Benefits like health insurance and flexible work options continue to be crucial in job decisions. Despite funding challenges, optimism persists as salary growth is expected to stabilize, with potential increases as investment returns. #LifeSciences #SalaryTrends #GenderPayGap #Compensation #HiringTrends

BioSpace recently published its 2024 Life Sciences Salary Report. Of note: ✔ Industry salaries continue to grow, though slower than 2020-2021. ✔ 2023 was economically challenging. ✔ Money is a top motivator for professionals to change jobs/companies. ✔ Employers are more selective when filling roles due to candidate availability and tight budgets. The report also highlights regional salary/bonus averages and U.S. averages by job title. Narrowing in on compensation related to geography, industry, company size, and years of experience can be a challenge for smaller organizations. Talencio assists our health technology clients in finding great talent and properly compensating that talent using national and regional salary survey data. Let us know if we can help! https://lnkd.in/eqemkMnM #compensationsurvey #talencio #salarybenchmark #lifesciences

BioSpace recently published its 2024 Life Sciences Salary Report. Of note: ✔ Industry salaries continue to grow, though slower than 2020-2021. ✔ 2023 was economically challenging. ✔ Money is a top motivator for professionals to change jobs/companies. ✔ Employers are more selective when filling roles due to candidate availability and tight budgets. The report also highlights regional salary/bonus averages and U.S. averages by job title. Narrowing in on compensation related to geography, industry, company size, and years of experience can be a challenge for smaller organizations. Talencio assists our health technology clients in finding great talent and properly compensating that talent using national and regional salary survey data. Let us know if we can help! https://lnkd.in/eqemkMnM #compensationsurvey #talencio #salarybenchmark #lifesciences

Navigating the Biopharma Salary Stagnation: Insights & Actions for 2024 🚀 Biopharma professionals, it’s no secret that salary growth within our industry has hit a slow patch ⏳. Despite the challenges of recent economic climates 🌪️, our passion for innovation 💡 and impact remains undiminished 🛡️. But, how do we align our career growth 📈 and financial aspirations 💰 in such times? The 2024 Life Sciences Salary Report 📊 reveals a nuanced landscape: Average salaries have grown at the slowest year-over-year rate in the past five years 🐢, a modest 2% from 2023 to 2024. Yet, 70% of full-time employees reported receiving a bonus 🎉, albeit with a minimal increase of 0.5% from the previous year. The desire for better compensation continues to be a top motivator for professionals exploring new opportunities 🔍. What does this mean for us? Merit Matters More Than Ever 💼: Performance-driven raises 💪 have become the norm, with 65% of salary increases attributed to merit. It’s a clear call to focus on delivering exceptional value 💎 and showcasing our contributions ⭐. Broaden Your Horizon 🌐: With the industry becoming increasingly selective 🎯, diversifying skills 👩🔬👨🔬 and seeking roles that offer growth beyond traditional boundaries can provide a competitive edge ⚔️. Negotiate Beyond the Base 🤝: Given the modest increases in base salaries, exploring opportunities that offer comprehensive benefits 🏥, bonuses 🏅, or equity 📈 could be key to enhancing overall compensation. Remember, our worth isn’t solely defined by our salaries 💸. It’s also about the impact we make ✨, the challenges we overcome 👊, and the community we build 🤗. Let’s continue to push boundaries ⛰️, advocate for our value 👑, and shape a rewarding career path in biopharma 🛣️. #Biopharma #SalaryTrends2024 #CareerGrowth #LifeSciences #careers

How does your salary offering stack up against your competitors? Is it competitive enough to attract top talent? This is a topic of conversation I've had with multiple clients just this week. So, I thought the rest of my network would also benefit from a little insight! SEC Life Sciences have released their 2024 salary guide and it's full of the key compensation trends in the clinical and medical space - i've linked it below 🔗 #SalaryTrends #LifeSciences

A quick read! Working in Payroll and Human Resources for several decades - we increasingly see this play out where new hires are making more than seasoned top performers. Great study on how employers can overcome the disparities quickly!

Navigate pay rise requests with confidence! Our guide offers top tips for tactfully and effectively asking for a salary increase in the life sciences industry. 📈🔬 #career #hiring #lifescience #australia https://lnkd.in/gqmMu4jZ

Two surveys offer the primary insights into the labor market, but recently, the job numbers they offer have been diverging. 📈📉 #Recruitonomics contributor Julius Probst, PhD breaks down what it means for recruiters in his latest blog. #LaborMarket #Jobs #Hiring #Recruiting

Navigate pay rise requests with confidence! Our guide offers top tips for tactfully and effectively asking for a salary increase in the life sciences industry. 📈🔬 #career #hiring #lifescience #australia https://lnkd.in/gqmMu4jZ

The era of inflated salaries for HR has ended ✋ This will be hard to read for some but hear me out. Back in 2022, when businesses were booming and profits were soaring, the job market was incredibly competitive for employers. Candidates were naming their prices, and organisations, desperate to fill positions, were meeting those demands: 📉 Transactional recruiters were earning $200K 📉 Graduates were starting at $90K 📉 BP’s with limited ER experience were making $180K+ But the good times don’t last and nobody in their right mind is paying these kind of salaries right now. With reduced profits, slower growth, and a more abundant candidate pool (in certain parts) they just don’t need to. **Disclaimer – if you work in Rem or Workplace Relations you can still name your price 😝** #marketdata #insights #jobs #supplyanddemand #samuelsdonegan