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
 
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 Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2581+0.0027+0.21%
    USDSGD=X
    1.7397+0.005+0.29%
    EURSGD=X
    2.1137+0.0072+0.34%
    GBPSGD=X
    81.3226-0.3512-0.43%
    SGDJPY=X
    6.1628-0.0128-0.21%
    SGDHKD=X
    2.5984-0.0028-0.11%
    SGDMYR=X
    9,256.0215-43.6631-0.47%
    SGDIDR=X
    4.9669-0.0018-0.04%
    SGDCNY=X
    1.1650-0.0009-0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,291.60+7.00+0.54%
    GCM14.CMX
    19.67+0.23+1.17%
    SIK14.CMX
    91.64-1.24-1.33%
    ^XAU
    3.12+0.06+1.91%
    HGK14.CMX
    101.88+0.44+0.43%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI