Biotech employment and biotech salaries are projected to continue to grow steadily thanks to advances in genetic and curative research. By 2016, the National Employment Matrix predicts that employment in biochemistry and biophysics will increase by 16%, microbiology by 11%, zoology and wildlife biology by 9% and the remaining biosciences by 4%.
Primary sources of employment are federal and state governments, educational institutions and private pharmaceutical companies. Biotechnology salaries are considered somewhat recession proof because much of the research is funded by private grants is established pursuant to trust and is awarded regardless of the economic environment.
1. Understand industry-wide biotechnology salary statistics.
2. Use software to assign and track biotechnology pay, and to apply initiatives.
3. Stay informed about emerging industry trends in biotech compensation.
Action Steps
The best contacts and resources to help you get it done
Know current biotech salaries and the biotechnology salary scale
Get informed about what the biotechnology industry is currently paying its professionals in positions across the industry so you can make informed decisions about salary offers, a biotech pay scale, structuring and restructuring.
I recommend: Browse the exhaustive biotechnology salary guide and industry surveys offered at
Vault.com. Research salaries for all primary and supporting biotech positions at
PayScale.com. The site provides a biotech salary guide with additional compensation reports that allow you as an employer to confidently negotiate salaries for new employees and new positions that are fair while fitting into your larger pay structure.
Automate biotech compensation and benefits for easy tracking of employees and their data
Salaries in biotechnology range from formal science positions such as the biotechnologist pay scale, to support positions such as computer and network technology, laboratory data processing and specialized janitorial staff. Keep everyone's compensation and benefits organized and easy to track with a comprehensive human resources software suite.
I recommend: PeopleSoft Enterprise Applications is a full-service compensation and benefits software that tracks employee time, biotech salaries and incentives through an online platform accessible to everyone in an organization. Biotech companies with 100 to 5,000 employees can successfully use
Optimum Solutions to track employee pay, time and attendance. Optimum Solutions offers free demos to get you started with its core software products.
Know what employees are saying about work and salaries in biotech industries
Stay up-to-date with what biotech industry employees are saying about their jobs, salaries and expectations about the future. This keeps you informed about emerging trends in both industry and individual expectations for biotechnology salaries.
I recommend: Check out
hireBio for both employee and employer portals. HireBio provides job and talent search services, the latest industry statistics, detailed information about geographic and specialty information, and degree and certificate information. Join the Rumor Mill at
Biofind and be the first to hear about the concerns, inside scoop and future in the biotech industry.
Tips & Tactics
Helpful advice for making the most of this Guide
- Biotechnology salaries are fairly diversified in today's market given the rate at which companies are taken over and bought out by larger competitors. In plotting a biotech career path, look for companies who offer stock options as part of the compensation plan. Stock options often pay off big in the long run and make lower starting biotechnology pay that is worth considering.
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