Choosing the most appropriate location for life sciences talent is a balancing act, with occupiers weighing the need for specialised skills against multiple factors, including the cost of human capital.
The five most expensive workforce locations are in the US, while Asia-Pacific and Europe offer access to lower-cost talent. A scientist’s salary in Cambridge UK, for example, is 42% lower than in a peer market like Raleigh in the US, and 12% lower than the all-city average.
As the industry evolves, it increasingly competes with other sectors for sought-after talent in data science, automation, Gen AI, and advanced robotics. These disciplines are key to the future of data analysis, drug discovery, laboratory optimisation, as well as cutting-edge sub-verticals such as surgical robotics. War for Gen AI talent in particular is driving significant compensation packages, most notably in the US. In San Francisco Bay Area, the average AI Engineer total earnings is $260,000 per year, representing a 117% premium over the all-city average for this discipline.
Many life science firms will choose to locate in the top destinations for AI talent, balancing the considerable outlay against the promise of accelerating future growth prospects and driving process innovation for cost advantage. For others, site location strategies will pay more consideration to the ability to compete for the best multidisciplinary talent in a market.
Strong cities outside of the US for Gen AI talent include London, Paris, Beijing, Singapore, and Toronto, with a concentration of top academic institutions for this subject, thriving tech ecosystems, and funding opportunities via VC or government support. Each of these cities feature within the top 15 in our life science markets index and offer lower-cost AI talent compared to US markets. Munich, Manchester, and Bengaluru are also emerging as future hubs for AI.
