Where Are Salaries In The Global CRO Industry Headed?

By Ed Miseta, Chief Editor, Clinical Leader

HR+Survey Solutions conducts annual industry surveys to provide organizations with information focused on compensation plan design as well as assessment of appropriate levels of compensation. Its latest report, The 2013-2014 CRO Industry Global Salary Planning Survey, was designed to show industry professionals how salaries are increasing against planned budgets in 52 countries across the globe.

For those employed in the CRO industry, the finding look positive. The study reveals merit increase budgets are on the rise in the global CRO industry. In 2013, the highest reported salary increase budget was 21%. In 2014, that figure increased to 25%. Argentina was the country with the highest average budgeted increase, checking in at 16.1% for the year 2014. Portugal recorded the lowest average annual budget increase at just 4.1%.

When comparing budgeted numbers in 2014 with the actual numbers from 2013, the news also looks good. The survey found 60% of actual increases for 2013 were less than budgeted, by an average of 0.3%. In 2014, 60% of the budgeted increases are larger than the actual increases in 2013, by 0.4%.

Other key findings from the report include the following:

• Indonesia was the country reporting the largest year over year budget increase from 2013 to 2014. The planned budget increase for 2013 was 5.7%, which increased to 8.6% in 2014, an average planned increase of almost 3%.
• For 2014 the average budgeted increase in the US is 3%, a number in line with the general industry. HR+Survey Solutions notes most surveys are projecting 2014 salary increase budgets to hover around that 3% figure.

So while the folks in Indonesia can expect and average 8.7% raise in pay, those in the US and most other countries can expect 3%. The study provides information on both planned versus actual increases, as well as industry versus global budgets for all 52 participating countries.