Thelander PC Digest: May 2026

The State of Compensation for US Private Biotech Companies

According to PitchBook, “Biopharma companies’ willingness to go public appears to be making a tentative reversal after a long drought…The real drive behind this resurgence, according to investors, is the M&A market.” We looked at our YoY biotech compensation data and used a preview of data from our upcoming US Private Biotech Compensation Report to see what the numbers say.

Base Salary

Biotech executive base salaries grew 9% at the median – from $275,000 in 2024 to $300,000 in 2026 – and 5.5% at the 75th percentile, from $350,000 to $369,375.

Staff-level employees saw steady growth too – up 5.6% at the median and 6% at the 75th percentile, with median base salary rising from $125,000 to $132,000 over the same period.

Bonuses

Fewer people are getting bonuses – executive bonus prevalence is down roughly 3% YoY, and staff is down roughly 7%. But the amounts have increased. The companies that are paying bonuses are paying more.

Median executive bonuses grew from $67,500 in 2024 to $75,000 in 2026 – and the 75th percentile climbed from $107,600 to $119,600.

In other words, biotech companies are being selective – but when they pay, they pay. That’s a disciplined approach to compensation that tracks with how biotech companies manage headcount. The fundraising road is long, and companies don’t over inflate themselves with talent. That discipline shows up in the headcount data too. More here. 

Equity

The share of both executives and staff reporting equity has grown significantly – executives up 11% and staff up ~15% YoY.

Founder equity dipped last year but has come back above its 2024 level at both the median and 75th percentile.

Staff-level non-founder equity, however, is down across the board.

What’s the Bottom Line? 

Whether your company is raising its first round, preparing for an M&A transaction, or getting ready to go public – knowing where your compensation stands is the foundation for every decision that follows.

This is a preview of data from our upcoming 2026 US Private Biotech Compensation Report. To secure the full report, complete the Thelander Private Company Compensation Survey today. Your time is the currency. No time? No problem, we can do it for you, just respond to this email.