If you’re trying to hire life sciences executives in Philadelphia right now, you already know: it’s a different game than it was five years ago.
University City has quietly become one of the most competitive biotech markets in the country. Not “up and coming.” Not “promising.” It’s now the fourth-largest life sciences market in the United States, according to a 2025 Colliers report. And that shift has changed everything about how companies compete for talent.
Here’s a number that stopped me: University City makes up less than two percent of Philadelphia’s footprint, but it accounts for over twelve percent of all jobs in the city. More than 200 life sciences companies operate within uCity Square alone. There’s 3.3 million square feet of lab space, with another 900,000 under construction.
“Five years ago, we were primarily filling roles for candidates relocating from Boston or San Francisco,” said Jim Hickey, President Managing Partner at Perpetual Talent Solutions, a Philadelphia executive search firm. “Today, top-tier executives actively seek opportunities here because Philadelphia has become a genuine competitor to established biotech hubs.”
The Growth Has Been Staggering
The biotech workforce in Philadelphia has grown eightfold in the past decade. Eightfold. More than 5,000 people now work directly in biotechnology here, and total life sciences employment across greater Philadelphia has hit 50,300 workers—a 20.7 percent jump over ten years, per CBRE research.
And demand for space? University City ranked as the top U.S. submarket for net absorption growth—3.6 percent between Q2 2023 and Q2 2024. Companies want to be here faster than buildings can go up.
The research funding tells the same story. University City institutions pulled in $968 million in NIH funding in 2024. That’s nearly 44 percent of all NIH money awarded to Pennsylvania organizations. Flowing into one neighborhood.
All of this creates a problem, though. A good problem, maybe, but still a problem: everyone’s fighting for the same leaders.
The Talent Crunch Is Real
Here’s the thing about a boom like this—growth doesn’t automatically come with the people to run it.
Nationally, the life sciences sector is short about 35 percent of the talent it needs. That’s over 87,000 positions sitting unfilled across the country. And the higher up you go, the harder it gets.
“The paradox we see daily is that a company can have unlimited funding and a revolutionary platform, but without the right Chief Scientific Officer or VP of Clinical Operations, that pipeline stalls,” Hickey explained. “Demand for experienced biotech executives has created a permanent seller’s market for leadership talent.”
The numbers bear this out. A ManpowerGroup survey found 69 percent of life sciences employers struggle to find skilled talent. Unemployment in life sciences occupations sits below two percent. According to Randstad Enterprise, even non-executive roles take an average of 105 days to fill, with each empty day costing around $500.
Executive roles? Those timelines stretch much longer.
What University City Has That Other Markets Don’t
So why are executives choosing Philadelphia over Boston or the Bay Area?
Part of it is the density of the ecosystem. Penn. Drexel. Their medical centers. These institutions pump out thousands of advanced degree graduates every year and generate the intellectual property that launches new companies. That’s a talent pipeline other markets can’t easily replicate.
But it goes beyond academics. Contract development and manufacturing organizations are minutes away from the research facilities. Big pharma has a serious presence in the region. An executive can work across the entire drug development process without the logistical headaches that fragment other markets.
“When I’m working with a candidate considering University City, I emphasize the ecosystem effect,” Hickey noted. “An executive here can have morning coffee with an academic collaborator, lunch with a CDMO partner, and an afternoon meeting with investors—all within a ten-mile radius. That accessibility matters enormously at the leadership level.”
And then there’s the money question. Philadelphia is simply cheaper than Boston or San Francisco. Companies can offer more competitive packages, and executives get more for their money. That combination is hard to beat.
What’s Actually Working for Companies Right Now
The organizations that are landing great executives have changed how they operate. Here’s what I’m seeing work:
Speed matters more than ever. Companies that move fast—accelerating timelines, making decisions quickly—are closing candidates before competitors even get a second meeting.
Equity has become essential. Base salary alone won’t differentiate you anymore. Long-term incentives and meaningful ownership stakes are what get executives to say yes.
Mission sells. The best leaders want to work on something that matters. Companies that can clearly articulate their scientific vision—not just their business plan—are winning over purpose-driven executives.
Flexibility is assumed, not negotiated. Hybrid work, flexible arrangements—these aren’t perks anymore. They’re baseline expectations.
And smart companies are building relationships before they have open roles. Partnering with search firms early, staying connected to potential candidates, so when a position does open, they’re not starting from scratch.
“The companies that succeed in attracting transformative leaders treat recruitment as a strategic function rather than an administrative task,” Hickey observed. “Waiting until you have an open requisition means you’ve already lost three months.”
Where This Is All Headed
If anything, the competition is going to get fiercer.
Major developments keep coming. Brandywine Realty Trust’s Schuylkill Yards, the Pennovation Works expansion, new facilities at 3151 Market Street—millions more square feet of life sciences space arriving by 2027.
Industry projections say the sector will need roughly 133,000 additional professionals by 2030. The demand is especially acute for leaders who can bridge scientific expertise with commercial thinking. And as AI transforms drug discovery, there’s a whole new category of executive who understands both the technical and strategic sides.
“What excites me about University City’s future is that we’ve reached a tipping point,” Hickey concluded. “The infrastructure, institutions, and investment climate are aligned. Organizations that commit to building exceptional leadership teams will define the next generation of breakthrough therapies. Those that hesitate will recruit from a progressively smaller talent pool.”
University City isn’t just growing. It’s become a place where the work matters on a global scale—where the leaders running these companies will shape which treatments actually reach patients.
Attracting those leaders? That’s the challenge now. And the companies that figure it out first will have an edge that compounds for years.
