If it feels like there has never been a tougher time to look for work, you’re not alone—and you’re likely not wrong.
Competition for Jobs Intensifies
If it feels like there has never been a tougher time to look for work, you’re not alone—and you’re likely not wrong.
According to BioSpace data, the application rate per job increased more than 7% in Q4 (October-December, 2023) compared to Q3 (July-September, 2023). Applications increased by 4% while average job postings decreased by 3%.
Though hiring typically slows at the end of the year, 2023 saw a marked change from 2022 trends. While the number of live jobs in Q4 2023 declined by 23% compared to 2022, the number of applications jumped 52%, causing the application rate per job to increase by 96%.
In a BioSpace survey, 78% of biopharma professionals are going to be looking for a new job in 2024, while an additional 18% will consider the right opportunity.
If you’re holding out for a remote role...
Companies are showing clear preferences for hiring local, on-site candidates over remote applicants. In a recent survey of employers, 57% said they would prefer local hires, up from 38% in 2022—though they would still consider remote candidates for certain roles. Additionally, 27% said they are focused on local applicants, up from 15%.
