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How Have Salaries Evolved in the Life Science Industry?01 Apr, 20225 Minutes
Since the beginning of 2022, candidates’ salary expectations in the Life Science industry ha...
Since the beginning of 2022, candidates’ salary expectations in the Life Science industry have shown a marked increase, often in excess of 10%. This got me thinking. Is this request being driven purely by inflation or is it a case of knowing that their skills are in demand?
The UK Life Science sector has lost a significant portion of its talent pool following Brexit, with new regulations and Visa applications inhibiting non-UK nationals to apply for positions. Coupled with this; funding to the scientific sector is at an all-time high with the UK government spending almost £12 billion on Covid-19 vaccines alone.
As a result, candidates now hold a winning hand as clients are willing to pay a premium to secure their employment. With the prediction of inflation rising to 7-8% in the second half of the year, candidates want to ensure they make the best deal for themselves and their future.
It is likely that a shortage of competition in the job market and price hikes have culminated in the highest salary inflation seen in decades, but only time and the economic experts will be able to tell us the real story. What is certain is that no one can guarantee what will come next. We can, however, safely say that skilled candidates within the Life Science sector are in high demand!
If you are a candidate working within the scientific sector and you are ready to make a move, contact: firstname.lastname@example.org.