This is our first annual Regulatory Landscape Year-In-Review for 2023, which provides insights on the evolving market for Regulatory professionals for the past year.
Regulatory job growth slowed last year compared to the two previous years. For 2023 there were approximately 950 new Regulatory positions posted at smaller biotech and pharma companies in the US. This is down 11% from 2022 and down 35% from 2021. The year started out strong with Q1 postings very comparable with Q1 of 2022. However, Q2 postings were down 17% from the prior year and Q4 positions fell 21%.
About 60% of all new Regulatory positions in 2023 were in Clinical Regulatory Strategy and 24% were in CMC Regulatory, 9% were in Advertising, Promotions & Labeling, and 7% in Regulatory Operations. CMC Regulatory openings grew about 2% in 2023 from the prior year, while Clinical Regulatory, APL, and Regulatory Operations postings all decreased.
The majority of the 2023 Regulatory roles (62%) were at Director level and above. Director-level roles increased about 3% from 2022 and Senior Director level roles grew by 4% from the prior year. There were about 80 new Regulatory VP/SVP positions at smaller and mid-sized companies posted during the year. This is down 33% compared to the new VP/SVP roles in 2022 and 2021.
26% of all new Regulatory roles in 2023 were posted as Remote and 16% were Hybrid (remote/onsite). This is actually fairly similar to what we saw in 2022 – with 28% Remote positions and 14% Hybrid that year. What is notable is that these percentages fell to 22% Remote and only 11% Hybrid in Q4 of 2023. Again, it’s important to note that these numbers are for smaller and mid-sized companies and we don’t track positions in Big Pharma.
According to a recent BioSpace report, biopharma companies are showing clear preferences for hiring local, on-site candidates over remote applicants. In their 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. (Source: https://deal.town/biospace/special-edition-q4-job-market-report-P3HE66JBE )
Nearly 150 drugmakers announced layoffs last year, shedding at least 10,000 jobs in 2023, according to BioPharma Dive data. (Source: https://www.pharmavoice.com/news/biotech-layoffs-2023-pharma-workforce-jpm-outlook/704033/ )
We will continue to keep you apprised of the changing market for Regulatory professionals throughout the year. Please consider us for your Regulatory hiring or let us know if you are considering a career change soon.