The typical biopharma worker made $199,048 last year, according to an Endpoints News annual analysis of pay trends.
Endpoints reviewed regulatory filings from hundreds of drugmakers and life sciences companies, analyzing 177 that disclosed median employee pay for 2023. The data provide a partial glimpse into the industry’s pay practices, with over 85% of reporting companies paying more than $100,000 in median compensation. (You can also read our annual report on CEO pay published this week.)
The data only include publicly traded companies, which are required to disclose the information. Most companies say their pay figures shouldn’t be compared with peers, since they can use different methodologies. For example, some companies included the value of healthcare coverage or 401(k) matching in total compensation, while others don’t. Many pay totals also include the value of new equity awards, which could be lucrative — or worthless — depending on a company’s stock.
In some cases, pay has risen as companies have succeeded. Eli Lilly’s obesity-fueled growth has been accompanied by a significant rise in employee compensation — median pay at Lilly grew from $97,130 in 2021 to $124,103 in 2022 to $157,937 in 2023.
Meanwhile, Pfizer has struggled to convince the market of its post-pandemic plans, implementing cost-cutting and layoffs. Median employee pay there has dropped from $92,986 in 2021 to $75,536 in 2022 to $74,008 in 2023. (One important caveat: Lilly included the value of newly issued equity in its total, while Pfizer only calculated the typical cash compensation. A Pfizer spokesperson stated that the company’s pay levels have not declined, but new manufacturing hires changed median employee pay over that timeframe.)
Pay data for all 177 reporting companies are included below in a searchable table. For further breakdowns of pay at the largest drugmaker and biotech’s hubs, check out the following stories: