Compliance staff salaries becoming one of the highest in Singapore pharma

Compliance staff receiving pay increases as other positions stagnate.

In a new report, international consulting and staffing firm Berkley notes that compliance staff now some of the most highly paid within the Pharmaceutical sector.

46% of pharma companies surveyed say they have increased compliance staff.

"With pay increases for senior regulatory staff having increased by an average of 9% per year over the last three years – compliance is one area of the pharmaceutical sector to have bucked stagnating wage growth created by cost cutting," said Berkley in a release accompanying its survey report.

Berkley says that some senior compliance staff are now earning as much as £200,000 in basic pay, with demand for their expertise and climbing pay awards driven by:

  • Regulatory clampdown: US regulators are taking a tougher stance towards drugs companies, with a particular emphasis on post-market drug safety, in response to criticism that they were too cosy to the drugs industry.
  • Emerging markets: Drugs businesses are accelerating expansion into emerging markets and need to overcome regulatory hurdles rapidly to coordinate global product launches.
  • Biotech or biologics drugs: Production focus is shifting towards growth areas such as biotech or biologics drugs, which carry greater challenges for compliance staff.

In Singapore, Regulatory Leads earned an average of S$140,000 in 2012, a 40% increase from 2009 salary levels. QA Lead Auditors now average $95,000, a 19% increase from 2009. Meanwhile, Compliance Specialists now average S$90,000, up 38% from 2009.

Berkley says that salaries in other positions at pharmaceutical businesses, such as R&D/drug discovery have remained static over the same period as companies have looked to cut costs.



More From Singapore Business Review

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165+0.001+0.61%
    N21.SI
    0.158-0.004-2.47%
    40E.SI
    0.995-0.030-2.93%
    G13.SI
    0.375+0.010+2.74%
    5ME.SI
    0.194+0.010+5.43%
    SK3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.38+0.09+33.33%
    BEH.SI
    0.16+0.02+14.29%
    40N.SI
    0.25+0.03+13.64%
    5UA.SI
    0.205+0.019+10.22%
    BHO.SI
    0.435+0.040+10.13%
    B58.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.265-0.095-26.39%
    BCD.SI
    0.17-0.05-24.44%
    42S.SI
    0.10-0.02-18.03%
    42U.SI
    0.10-0.02-16.67%
    UQ7.SI
    0.098-0.012-10.91%
    L02.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4227+0.006+0.42%
    USDSGD=X
    1.5089-0.0149-0.98%
    EURSGD=X
    1.7887+0.001+0.06%
    GBPSGD=X
    79.9510-0.238-0.30%
    SGDJPY=X
    5.4480-0.0248-0.45%
    SGDHKD=X
    3.1077-0.0214-0.68%
    SGDMYR=X
    9,340.2266-99.8135-1.06%
    SGDIDR=X
    4.8330-0.0197-0.41%
    SGDCNY=X
    1.0618+0.0013+0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,170.60-4.40-0.37%
    GCZ16.CMX
    17.01-0.19-1.12%
    SIZ16.CMX
    82.57-0.01-0.01%
    ^XAU
    2.62-0.02-0.59%
    HGZ16.CMX
    50.98+1.21+2.43%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.82+0.02
    ^FVX
    2.39+0.04
    ^TNX
    3.09+0.06
    ^TYX