Friday, September 4, 2009
Salary and gender in the healthcare industry
Over the next few days, I'll be writing about salaries in the world of pharma/biotech and in the worlds of medical communications companies, marketing/ad agencies, etc. The data is from the 2009 Medical Marketing & Media (MM&M) survey (which you can access here)
We all know that women tend to get paid less for equivalent positions that generally consist of similar responsibilities. This trend remains true in the MM&M survey. Men had an average salary of $135,043 while women had an average salary of $108,106. Of course, there are many factors to consider here: types of positions, types of industries, company size, etc.
For instance, the average salary is highest in the world of biotechnology ($143,090) and lowest in the hospital products/equipment sector ($97,899). Average salaries in pharma are on the high side ($125,716), but they're down 7% this year compared to 2008 while biotech salaries are up 6.7% compared to 2008.
The survey includes data from 500 people and I don't know how many of them are industry physicians. I personally think it would be interesting to see this salary survey provide a breakdown based one's education/degree. I'm sure those with an MBA are on the higher end of average and those with an MD, DO, PharmD, or PhD are towards the highest end of the spectrum. Speaking of the highest end, the highest reported annual salary was $650,000 while the lowest was $20,000. I believe this was all self-reported data, so take all this information with a grain of salt.