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)
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