Earning $117K annually on average, Research & Development Managers receive the most money, followed by Senior Software Engineers (around $115K), Clinical Project Managers ($110K), and Senior Supplier Quality Engineers ($97K). Financial compensation for Regulatory Affairs Specialists is rather low — on average only about $73K — relative to the rest of the company.
Years of Experience
Those who have five to nine years of work experience see average salaries of approximately $86K per year. When we consider tenure, a substantial portion of employees (33 percent) have been working for one to four years and make $70K annually on average.
When it comes to location, the highest average paycheck (approximately $105K per year) can be spotted in Plymouth, Minn.; Sunnyvale, Calif. (around $90K), Los Angeles, Calif. (about $89K), and Minneapolis, Minn. ($89K) are the next top-paying cities. Plano, Texas is one of the lowest-paid cities, with earnings averaging $70K. By state, Minnesota offers the highest pay at approximately $90K annually.
Certifications and Degrees
Those lacking certification bring in much lower salaries than Certified Six Sigma Black Belts, who make $115K per year. ASQ Certified Quality Engineers also rank high on the pay scale, with expected average earnings of about $107K annually. St. Jude Medical, Inc. compensates Master of Science (MS), Regulatory Science-holders the most at around $115K per year.
When it comes to skills, employees who report Project Management among their abilities seem to make the most, reporting a median income of $95K annually. Folks here also tend to know Quality Assurance / Quality Control; on the survey, nearly one in eight of workers named it in their skills portfolios. Employees also tend to know Regulatory Compliance, Data Analysis, and Microsoft Office.
Benefits and Perks
Paid time off is hard to come by at St. Jude Medical, Inc.; the company rewards only two-fifths of employees with paid vacation time and only one in five employees with sick leave. To plan for old age, most respondents maintain savings accounts through the company's 401(k) plan. Health insurance is part of the package for nearly all survey participants, and for nearly all workers, dental coverage is too. The list of perks also includes a stock purchase plan, life insurance, tuition reimbursement, and a subsidized cell phone.