Most biopharma professionals do not expect the job market to recover soon, according to a BioSpace LinkedIn poll conducted this month. The poll found that 77% of respondents do not anticipate a turnaround until 2027 or later, and half believe improvement will not come until or after 2028.
Graig Suvannavejh, managing director and senior biotech and biopharma analyst at Mizuho Securities, said on June 11 that a job market rebound is unlikely before 2027. He said it is difficult to predict whether recovery will happen at the beginning or middle of next year because it depends on factors such as funding. Suvannavejh also noted that while there have been several initial public offerings (IPOs) and mergers and acquisitions (M&A) this year, these activities do not outweigh ongoing pressures in the sector.
“As someone who roots for everybody—investors, companies, employees—I wish I could say that a turnaround in the biopharma job market were coming soon, but I think it’s going to take awhile, and I think it’s going to take awhile primarily because of increasing focus on being as cost-efficient as possible,” Suvannavejh said.
So far this year there have been over a dozen IPOs according to BioSpace tallies. The largest was Parabilis Medicines’ $670 million raise—the biggest biotech debut ever. M&A activity includes Eli Lilly’s ten announced acquisitions so far this year; these include acquiring Kelonia for up to $7 billion, Centessa Pharmaceuticals for $6.3 billion upfront, and Orna Therapeutics for $2.4 billion.
Suvannavejh identified other factors preventing recovery: investment in biotech does not always result in net new jobs since some companies are shutting down due to lack of funding even as others go public. He added that while new businesses need staff, those employees may simply move from other firms rather than expand overall employment numbers. "There was just a lot of money flowing into biotech in such a way that even if you didn’t have a drug candidate being tested...there was money for you," he said about conditions between 2019 and 2022. "We don’t have that today."
Some recruiting experts see early signs of improvement despite broader pessimism about near-term prospects. Kim Laipple, president of Scientific Search—a life sciences recruiting firm—said her business has seen increased hiring during the first two quarters of the year, including more consultants and contractors brought onboard by companies looking for flexibility before committing to permanent hires.
Laipple cited an increased need for clinical operations personnel in 2026 as another positive indicator but observed some roles recently put on hold—a development she did not expect until later in the fiscal cycle: “Usually we start seeing that going into Q4...I’m surprised I’m seeing it late Q2 going into Q3 already.” She expects further increases in hiring late third quarter or fourth quarter with significant growth starting at the beginning of 2027.
Melinda Emig, founder and CEO of BioPharma Select executive placement firm, also reported rising demand this year especially among strategic personnel who can quickly integrate into organizations: “They’re really thinking through what they need in these roles,” she said.
Emig anticipates gradual hiring increases through late year with stronger gains by 2027: “I think we’re right on the precipice of the pickup.”
Suvannavejh concluded by cautioning against excessive focus on operating lean: “Taking shortcuts on resourcing for the sake of just being lean doesn’t ensure success...I hope companies will do the right thing by resourcing appropriately.”
