ROCKVILLE, Md., Aug. 17, 2016 (GLOBE NEWSWIRE) -- The Regulatory Affairs Professionals Society (RAPS) today released the results of its biennial survey of healthcare product regulatory professionals around the world. The survey asked respondents about their daily work, education and professional backgrounds, and compensation. RAPS has compiled and published key survey results and analysis in its 2016 Scope of Practice & Compensation Report for the Regulatory Profession, which can be downloaded from RAPS' website at www.RAPS.org/sop.
Among the most significant findings, regulatory professionals are spending more of their time on strategic activities and less time on tasks related to research and development, clinical testing, product registration and other preapproval activities. Overall, compensation has increased, but more for those at mid-level positions, than those at senior levels, and those same mid-level professionals benefit most from having earned the Regulatory Affairs Certification (RAC).
Consistent with previous years' survey results, regulatory professionals' compensation was found to be most affected by job level and several other related and interdependent factors, including regulatory experience, highest-earned degree, total professional experience and, for mid-level professionals, whether they have the RAC credential. RAC holders earn an average of 11% more in base salary than their peers without the RAC credential. For the first time since RAPS began conducting this research, regulatory experience was shown to have a greater impact on compensation than highest-earned academic degree.
US-based professionals represent the highest percentage of respondents, and RAPS has collected responses from this group for more than 20 years, making it possible to track trends over that period. Total compensation for US regulatory professionals has grown an average of 3% per year since 1995. This year's responses show compensation increased by 3% for mid- and lower level professionals, but by less than 1% for senior executives. Some job levels had larger increases. For example, the increase at the coordinator job level was 12%.
All respondents also were asked about their own individual base salary increases from 2014 to 2015, and reported an average increase of 5.9%. One in 10 respondents said their salary increased by 10% or more, and only 7.8% reported no increase. The Scope of Practice Report includes salary tables by job level for respondents in several different countries and regions: the US, Europe, Canada, China, India, Oceania, Singapore and Taiwan.
Most regulatory professionals have multiregional or worldwide responsibilities, and work with multiple types of healthcare products. More than 88% of regulatory professionals began working in another field before transitioning into regulatory, and most have significant prior professional experience, usually in a related field. More than 99% of have a university degree, and more than 84% hold a degree in a clinical discipline, science or engineering. More than 42% have a master's degree, and more than 20% have a doctorate.
The 2016 Scope of Practice & Compensation Report for the Regulatory Profession is based on survey responses from 3,358 regulatory professionals in 56 countries.
About RAPS
The Regulatory Affairs Professionals Society (RAPS) is the largest global organization of and for those involved with the regulation of healthcare and related products, including medical devices, pharmaceuticals, biologics and nutritional products. Founded in 1976, RAPS helped establish the regulatory profession and continues to actively support the professional and lead the profession as a neutral, non-lobbying nonprofit organization. RAPS offers education and training, professional standards, publications, research, knowledge sharing, networking, career development opportunities and other valuable resources, including Regulatory Affairs Certification (RAC), the only post-academic professional credential to recognize regulatory excellence. RAPS is headquartered in suburban Washington, DC, with offices in Shanghai and Singapore, and chapters and affiliates worldwide. www.RAPS.org
RAPS Survey Shows Regulatory Pros Play Increasingly Strategic Role; Compensation Up
| Quelle: Regulatory Affairs Professionals Society