Biotech Job Market in North Carolina Holds Strong Despite COVID

Biotech Job Market in North Carolina Holds Strong Despite COVID

Employment statistics can mask trends in individual industries. In other words, even though the job market looks bleak overall, there may still be jobs available, depending on which companies you look at. North Carolina’s biotech job market, for example, is still open for business.

Biotech Job Market At A Glance

Biotechnology, or “biotech,” is the process of using living organisms to produce useful things. Many biotech advancements are related to health or medicine. For example, biotechnology can be used to produce vaccines and important products like insulin.

In the US, biotechnology is a $102 billion business. There are over 2,000 biotech businesses in the US. These range from pharmaceutical giants like AbbVie and Genentech, to tiny biotech startups.

According to market research firm IBISWorld, there are 287,537 biotech employees in the US right now. A lot of them work in North Carolina. 66,000 people in North Carolina have jobs in the life sciences, including biotech.

Biotech Employment Decreased In 2020, But Only Slightly

Biotech job growth in the US is still up compared to 5 years ago, but overall biotech employment in the US has decreased 3.2 percent since the start of the year. This seems bad, but it’s actually a much smaller decrease than many other industries have suffered. In North Carolina, total private employment decreased by 8.4% since January. Jobs in hospitality decreased by over 27%. Comparatively speaking, biotech jobs are holding strong.

Additionally, current pharma and biotech employees say they are confident their jobs with weather the pandemic. Most even expect their compensation to increase in the next six months. North Carolina’s life sciences workers earn an average of $91,000 annually.

Despite Downturn, Many NC Biotech Companies Are Hiring Now

Not only do current biotech employees expect to keep their jobs, many biotech companies in North Carolina are currently hiring. The North Carolina Biotechnology Center maintains a job board with hundreds of postings for full time positions. LinkedIn returns over 750 results for biotechnology jobs in North Carolina, and job search site Indeed returns over 400.

While many of the jobs posted are aimed at people with a science background, you may not need scientific experience to take advantage of the strong biotech job market. Many life science and biotech companies are also looking for people with experience in business analytics, market research, and sales.

Are you looking for a new job? Check out our resources for North Carolina job seekers.