CBRE Report - Life Sciences Research Talent 2022

Executive Summary

• More professionals are engaged in life sciences research in the United States than ever before.
  This group grew 79% between 2001-2021 compared with 8% growth for all U.S. occupations.

• A record number of people are graduating with life sciences expertise.
  U.S. graduates in biological and biomedical sciences, totaled more than 163,000 in 2020—a record number and double the number just 15 years ago.

• But finding life sciences research talent may prove extremely difficult.
  Life, physical and social science occupations had the second-lowest unemployment rate of all U.S. occupations in April 2022 at 0.6%.

• CBRE has identified the best markets for accessing life sciences research talent.

  • Not surprisingly, the preponderance of research talent exists along the East Coast, stretching from Boston/Cambridge to Raleigh-Durham, as well as the West Coast, anchored by the San Francisco Bay Area.

  • However, significant pockets of talent exist in Chicago, Denver/Boulder, Houston, Dallas/Ft. Worth and Minneapolis/St. Paul, among other major metros.

  • Talent pools are emerging rapidly in markets such as Salt Lake City, Nashville, Columbus, Albuquerque and Tucson.

• Salaries for U.S. life sciences researchers are considerably higher than other occupations, and show less variability across markets relative to cost of living indices.
  As such, employers may not achieve a financial benefit by hiring researchers in lower-cost markets.