Riding the Employment Roller Coaster - Pharmaceutical Technology

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Riding the Employment Roller Coaster
2010 came with pay raises for those still employed and anxiety for all. This article contains bonus online material.


Pharmaceutical Technology
Volume 34, Issue 12, pp. 36-39

Salary and satisfaction


Figure 6: Company expansion plans by location.
If you didn't lose your job, 2010 was a good year. Overall salaries increased 8.9% to $102,468. Men earned more than women: $103,787.55 for men versus an average of $100,469.01 for women. The average industry salary in the US was the highest—$ 113,343, followed by $81,076 in Canada; $74,049 in Western Europe; and $58,833 in India. A full 100% of Indian workers report receiving salary increases this year, followed by 69.2% in Canada, and 65.4% in the US. Least likely to have received a raise this past year were Western Europeans, with only 49.3% reporting salary increases. Canadians were most likely to receive salary cuts—with 7.7% of Canadian respondents reporting decreases, followed by 7.4% of US respondents, and 5.85% of Western Europeans.


Figure 7: Job selection factors-most important (multiple responses allowed).
In general, people working in the pharmaceutical industry feel gratified and valued by their employers—64.6% of all respondents said their employers fully valued their work. Employees of generic-drug manufacturing firms feel most valued, 68.9% reported feeling valued, followed by 67.1% of workers in traditional bio/pharmaceutical companies who feel that way. Least valued are workers for contract manufacturers and service providers, where 58.4% feel valued. On average men feel slightly more valued than do women, as 65.2% of men, and 62.4% of women reported feeling their work was valued.


Figure 8: Effect of economy on job (multiple responses allowed).
The feeling may not be entirely mutual, however. Over half—58.5% of respondents from contract manufacturer and service providers—say they would leave their jobs if they could. Almost the same number (58.3%) from biotech companies say they'd leave their companies if they could. Employees at traditional bioo/pharmaceutical companies are least likely to look for new jobs, since only 41.2% say they'd switch jobs if they could.


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