The vast underrepresentation of female physicians in biotech

Women in medicine, when pursuing nonclinical careers, often turn to the biotech industry for positions where they can utilize their medical training and expertise. Unfortunately, the same gender gap issues that plague the leadership landscape in healthcare and academic medicine are present in biotech as well.

Disparities affect company performance

Despite making up the majority of those employed in the life sciences, women continue to be vastly underrepresented in leadership roles within the biotech industry. A 2021 report on the biotech industry from executive search firm Bedford Group/TRANSEARCH revealed an abysmal statistic: Less than 6% of biotech CEOs were women, and only 14% of board members were women.^[][]

Nearly 8% of CEOs at S&P 500 companies in 2020 were women, according to the Women CEOs in America report.^[] (This was lauded as a historically high level at the time.) This report was issued by the Women Business Collaborative in conjunction with Ascend, C200, and Catalyst.^[] 

This underrepresentation of women persists even as studies show that gender-diverse leadership results in superior business performance. 

Other research has shown that diverse organizations are also more successful at recruiting and retaining talent: Companies with higher levels of gender diversity, in particular, who also have human resources policies that focus on gender diversity, have been linked to lower levels of employee turnover.^[] Researchers have also found that women are more likely to believe an organization is fair when women are highly represented in top positions.^[] This inclusivity is especially valued by employees of color.

What’s behind the imbalance?

As is often the case, there are a number of factors contributing to this imbalance. Even though more women have entered the field of medicine, fewer women in medicine pursue careers in biotech than their male colleagues, so there may still be a pipeline issue.

Recruitment and promotion processes often lack transparency, opening the door to unconscious gender bias. Women also face disparities in access to influential networks, sponsors, and opportunities to develop skills needed for leadership roles.

I have also had the experience, on multiple occasions, of being offered—and expected to take—less in base salary for a leadership position compared with what male candidates have been given for the same position.

It must also be said that the biotech world is notorious for its lack of work-life balance and outdated insistence on frequent travel (sometimes as much as 75% to 100% for medical-director positions and above), even after many other industries seem to have taken the work-from-home lessons of the COVID-19 pandemic to heart. Women are often caregivers, and biotech’s around-the-clock work culture is not optimized for caregivers.

The field also struggles with retention when women take career breaks for child-rearing. Support for flexibility and reentry programs is limited but crucial for addressing this issue. 

The gender leadership gap also perpetuates itself through a scarcity of visible role models and champions to inspire young women in the field. 

Closing the gap

So what can be done to bridge this gender divide? Companies must critically examine their organizational culture, policies, and procedures with regard to gender diversity. They should implement training on mitigating unconscious bias in hiring and reviews. Leadership criteria and job postings should be assessed to ensure they do not unintentionally deter women applicants. Focused efforts to recruit and develop female talent are needed, as are mentoring programs and networking groups for women.

Above all, biotech must foster inclusive and flexible environments where women at all levels can thrive. Enacting family-friendly policies, including viable and realistic work-from-home options that make use of all the conferencing technologies now at our fingertips, and destigmatizing career breaks, can help greatly. 

The immense contributions women can make to scientific innovation and leadership are clear. Concerted efforts by individuals, companies, and the industry as a whole are required to ensure women are equitably represented and able to shine at the very top of biotech companies. The results will benefit not just women themselves, but scientific advancement and patients worldwide.