Tuesday, September 9, 2008

Biotech salaries

Here is a summary of our latest survey, which asked questions about salaries in the Biotech world:

Highest Degree: 28% BSc, 21% MSc, 18% PhD, 21% Post-Doc

Time in workforce: 6% <1 year, 9% 1-4 years, 30% 5-9 years, 54% 10+years

Position: 14% Lab Tech, 5% Lab Manager, 4% Grad Student/Post-Doc, 21% Middle Manager (Product/Sales/Marketing), 20% Senior Manager, 8% Executive Manager

Total Compensation (salary + bonus/Commission if any): 8% $25-$50K; 24% $50-$75K, $27% were $75-$100K; 21% were $100K-150K; and a lucky 18% were over $150K. Good for them.

All Salaries were in US dollars, assuming 1:1 for Canada, 1:1.5 for Euros, and 1:2 for Pounds.

The majority of the respondents were from the US at 71% and England at 9%. Canada, Europe, and other countries made up the balance.


Anonymous said...

I was hoping to be be a professor. However the process looks very longs. I'm in my fourth year of my PhD, and hope to be finished in about a year, and will probably need a couple of post-docs. What are the starting salaries for assistant profs?

Anonymous said...

I'm about 12 years out from my post-doc time. I decided not to go into academia mainly because of the salaries...I ended up in industry, and within 3 years was in six figures and within 7 years was in multiple six figures.

When I was looking, starting profs were making anywhere from $40K (up in Vermont...which was lower than my fellowship) to about $70K in good places. That wasn't so bad, but the problem was that from there, the slope was very low, with full profs only making about $90K to $140K after putting in 15 years. Not my idea of fun unless you live in Texas, or some other area where you can buy a nice house for under $150K. But in Boston...forget it!

Anonymous said...

I went into sales after my Masters. Base was $45K commission was 22K my first year, and the second year my base was up to $47K, and then I exceeded plan so my commission was $38K. Pretty nice

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