The Best Paying Jobs in the Pharmaceutical Industry
To some extent, salaries in pharmaceutical companies reflect the world beyond, because firms tend to have lawyers, executives, finance people and top-level managers on the payroll, and these are jobs that pay well everywhere.
The figures below are, of course, only indicators – in every case they are median or average salaries.
It’s always interesting to see what the best-paid jobs are for people with specialist pharma skills and there are some surprises in the list.
That said, to get a detailed view of what rewards are on offer for various roles, you need to talk to a pharmaceutical services provider like http://www.gandlscientific.com/, who will have all the latest data and can give you a market overview.
The Monster recruitment site reports the following rates:
1. Senior Research Scientists practising in Biotechnology
They’re currently top of the tree with a median salary of $98,527. Of course that’s the mid-range salary – so there may be many earning an awful lot more, if they have niche knowledge and promising research projects under way.
2. Research Scientist
$82,452 is the median salary. Research scientists have to spend a lot of time writing grant proposals if they are working in the academic and public sectors. There can be a wide disparity between private and public sector salaries, and starting salaries for academics can be much lower than this.
3. Pharma Sales Representative, Field sales
Not doing too badly with a median of $71,981. These are very skilled sales reps, who have relevant degrees and have to upskill continually to keep up with the latest developments. It’s notable that in the UK, a payscale site estimates these jobs as being paid between £20,894 – £51,232, with bonuses of up to £10,000 – pretty comparable.
4. Pharma Sales Representative, Outside sales
These tend to be sales managers who are often talking to existing customers, and they’re getting around $66,000. This may reflect lower commissions and bonuses.
5. Pharmaceutical Financial Analyst
These analysts have to understand the investment and tax complications of long-running research programmes. They can expect to earn $60,025 – somewhat less than they might get in banking.
Pharmaceuticals is a sector with excellent growth rates projected over the next twenty years, so salaries are expected to rise strongly across the global industry.