The Job Market Has Changed — Here’s What You Need to Know

If you’re job hunting right now, it’s time to get real: the market isn’t what it was even just a few years ago. Competition is fierce. Hundreds of candidates apply for the same roles.

Especially here in Switzerland, the game isn’t about scrolling through job boards anymore. It’s about networking: building genuine connections, reaching out, and uncovering those hidden opportunities that never get posted publicly.

Here’s the reality behind the scenes:

• Most biopharma companies have had to cut budgets and lay people off over the past couple of years.

• Global pressures like U.S. tariffs, which don’t currently affect pharmaceuticals but create uncertainty, pricing challenges, and growing skepticism around certain medications are squeezing profit margins hard.

• Patent cliffs are looming: with big drugs like AbbVie’s Humira (loss of exclusivity in Europe already and soon in the US), and Johnson & Johnson’s Stelara expected to face generic competition soon. These hits mean sharp revenue drops and force companies to tighten budgets.

• Hiring freezes, department cuts, and remote hiring in lower-cost locations like Hungary or Barcelona are becoming the norm.

• The strong Swiss franc makes local hiring more expensive, pushing companies to look elsewhere.

All of this has made pharmaceutical companies more conservative about who they hire, meaning they prefer candidates through trusted networks or recommendations.

You can keep applying randomly on job boards and expect a 1-2% success rate at best, which means lots of time spent with very little to show for it. Or, you can get strategic.

You can’t control who likes your CV or who passes you through to interviews. What you can control is how you build your network, how you show up online, and how proactive you are in making real, authentic connections.

If you’re in the middle of a job search, don’t lose heart. It just means your strategy needs to evolve. Consider working with a coach, focus on your networking, and be intentional about your LinkedIn presence.

The old ways don’t work anymore. Adapt, be proactive, and stay visible. That’s how you win.

You got this.