Pay Incentives Lower in Clinical Research Organizations than in General Industry
Employees at clinical research organizations (CROs) receive lower annual and long term incentives than their counterparts in other industries.
A recent survey from HR+Survey Solutions on CRO Industry Global Compensation and Turnover found that CRO employees received lower incentives, both annual and long term, than their counterparts in other industries.
Highlights from the study:
- US CRO industry executives with salaries of $250,000 were eligible for “an average annual incentive of 31% of their salary and a long term incentive (LTI) of 27%,” whereas executives of similar rank in other industries were eligible for 44% annual incentives and 50% LTIs.
- CRO pay is weighted towards base salary, with it representing nearly 50% of compensation package for executives with annual incentives and LTIs of 19% and 30%, respectively
- Incentives at CROs in countries outside the U.S. were similar to those offered in the US
- Although employee turnover dropped from nearly 20% in 2011 to approximately 18%, the rate at which employees leave their jobs in the US CRO industry remained high
- Executives working for smaller companies in and outside the US are less likely to receive annual incentives than those at larger companies
You can read the full release of the study findings here.
Below are two infographics on employee turnover and pay incentives created by HR+Survey with results of the survey. (Click each to enlarge)
Including Women of Childbearing Age in Clinical Research
March 26th 2024In recognition of International Women's Month, we're featuring this recent talk between Associate Editor Miranda Schmalfuhs and Marie Teil, Global Head of UCB’s Women of Childbearing Age Program. They speak about the specific challenges women with chronic illnesses face when accessing appropriate treatment and participating in clinical trials, UCB's Women of Childbearing Age Program and it’s most successful strategies, and much more.
Regulatory Compliance With eCOAs
April 26th 2024In the fourth and final part of this video interview with ACT editor Andy Studna, Melissa Mooney, director, eCOA sales engineering, IQVIA discusses how the regulatory stance on electronic clinical outcome assessments has changed over the years and what it could look like in the future.
Improving Engagement While Maintaining Data Integrity & Validity
March 19th 2024In recognition of Women's Health Month, we're featuring this recent talk between Associate Editor Miranda Schmalfuhs and uMotif's Chief Product Officer, Julia Lakeland, discuss new technologies improving patient engagement and reducing the emotional and logistical burdens of participation, ethical considerations that should be addressed when implementing those technologies, while ensuring patient privacy, and much more.
Using Patient Reported Outcomes in Dermatology Trials
April 25th 2024In part 3 of this video interview with ACT editor Andy Studna, Melissa Mooney, director, eCOA sales engineering, IQVIA sheds light on the unique challenges of dermatology trials and how clinical outcome assessments can be implemented in them.
