Medtech Job Hiring Yes - But the Market is Tough - 2009 Med Jobs Salary Survey - Conroy, s

8/8/2019 Medtech Job Hiring Yes - But the Market is Tough - 2009 Med Jobs Salary Survey - Conroy, s

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Salary Survey 2009

M e d te c h J o b s : H ir in g Y e s ,

B u t th e M a rk e t Is T o u g hW ith the rough est year in recent m em ory no w pas t , exper t s say tha t hir ing w i ll re turn, but

1 com panies w i ll be m uch m ore di l igent in thei r se lect ion o f the r ight person for the job .

i i7 :1 Sherrie Conroy

The m edica l dev ice indus t ry job market has def in i te lyb e e n a f f e c te d b y t h e e c o n o m ic do w n tu r n i n t h e p a s t24 mon ths . One exper t chara c ter izes 2009 as a "se t -

t l ing in" yea r . "Pr ior to tha t , the device indu s t ry cam e ou tof a ve ry robus t f ive yea rs . Comp anies were m aking hea l thypro f i t s . I f p ro f i t s were good , tha t m oney w as pu t back in tot he com pany to d r ive top l ine ," s ays Joseph Mul l ings , p res i-de n t a n d C E O o f t h e Mu l l in g s G r o u p(Delray Beach, FL).

T h e n , h e s a y s , th e b o t t o m d r o p p e do u t o f t h e e c o n o m y i n g e n e r a l. " D r a f t-ing behind the consumer and bank-

i n g m a r k e ts , t h e de v i c e w o r ld f e lt t h ee f f e c t s , e s p e c i a l l y i n Q 4 o f 2008 a n din to Q1 o f 2009. Budgets w ere lockeddown, management evalua ted every l inei tem , and the device marke t was f rozeni n p l a c e . " A n d e v e n t h o u g h t h e f i r mst ha t surv ive wi l l do we l l coming ou t o ft h i s c r i si s , Mu l l i n g s s a y s t h e i n du s t r yw i l l s e e a c on t inue d r e d uc t i on i n t hem anufac tur ing-re la t ed work forces andthe device sales forces .

I n t h e me a n t ime , i t i s a n e m p lo y e r ' s ma r k e t . "Th e b ig -

g e s t th i n g I a m s e e i n g — a n d h a v e b e e n p re a c h i n g — i s th a te m p lo y e r s a r e r e a l l y ta k in g a dv a n t a g e o f t h e c u r r e n t jo bm a r k e t, " s a y s Br i a n W a lk e r, p r i n c ip a l o f t h e W is e G r o u p( Fa i r f ie ld , CT) . " I'm no t ta lk ing ab out i t be ing a b uye r 'sm a r k e t, a l th o u g h t h a t i s th e c a s e . E mp lo y e r s a r e w o r k in gt h e i r e m p l o y e e s h a rd e r a n d l o n g e r t h a n e v e r . T h e r e a s o n ?T h e y c a n . E m p l o y e e s a r e s i m p l y h a p p y t o h a v e a j o b t h e s edays, and they know there are hundreds of people justw ai t ing fo r the opp or tun i ty to ge t those jobs ."

"Bonuses a re be ing f rozen , ra i s es have been reduced , andin some cases e l imina ted , w i th ma nagem ent c i ting the needt o s t a y c o m p e t i tiv e . N e w h i r e s a r e h i t e s p e c i a ll y h a r d b e -c a u s e c o m p a n i e s a r e e x p l o i t in g t h e j o b m a rk e t ," M u l l in g s

Sherrie C o n r o y is editor-in-chief of MD&DI.

s a y s . H e p o i n t s o u t t h a t h is t o r ic a l ly u n e m p l o y m e n t i s al a g g i n g i n d i c a to r a n d t h a t i t i s n o t u n u s u a l t o s e e u n e m -ploym ent cont inue to r i s e go ing in to a recovery . P r ior to thel a s t do w n tu r n , h e s a y s , g r o w th i n t h e de v ic e i n du s t r y h a dbeen robus t and, in h inds igh t , d i ff icu l t to sus ta in . "St ruc-t u r a l e v e n t s m a n y c h a n g e h o w d e v i c e c o m p a n i e s s c a l e u pm o v i n g fo rw a rd , " h e s a y s .

"A CEO needs to j us ti fy any com pen-sat ion to the board ," says Roger Brooks,par tne r w i th Ta tum C IO Par tne rs LLPin Chicag o . "They ' r e s t il l go ing to dow h a t t h e y n e e d t o d o t o g e t t h e r i g h tperson bu t they w i l l s t ay wi th in indus -t ry benchmarks. Our c l ients a re makingf a i r in du s t r y - s ta n da r d o f f e r s a n d a r en o t m a k in g l o w o f f e r s b e c a u s e o f th eh i g h u n e m p l o y m e n t r a t e ."

Mullings points out that the goodnews for the device industry is that

the medical device market is not asseverely subject to consumer influ-e n c e a s m o s t o t h e r i n d u s tr i e s . R a t h e r ,t h e d e v i c e i n d u s t r y r e v o l v e s a r o u n d

t h e m a n a g e m e n t o f p a t i e n ts a n d t h e i r h e a l t h . W i th t h a t in

m ind , he s ays , h i s f i rm i s s ee ing the h i r ing o f ce r t a in d i s c i -p l in e s w i th in t h e de v ic e s p a c e c o min g b a c k s t r o n g , w h i l eothe rs a re lagging .

Mul l ings s ays a rev iew of the s ea rches h i s f i rm com ple tedo v e r t h e p a s t 1 2 m o n t h s s h o w e d t h a t R & D , c li n i c al , a n dregu la to ry pos i t ions were the s t rong leaders com ing ou t o ft h i s c h a l l e n g in g t im e . " It w a s o u r o b s e r v a t i o n t h a t a t t h es t a r t o f th i s downturn , com panies f roze R&D exp end i tures .They also p ul led in the re igns on n ew c l inical ini t ia t ives andr eeva lua ted those ongoing c l in ica l e f for t s , s topping thoset h a t w e re n o t p ro m i s in g . "

H e s a y s th a t c o m p a n i e s r e d u c e d m a n u f a c t u r i n g h e a dc o u n t s a s i n v e n to r i e s w e r e c u t , n e w p r o d u c t l a u n c h e s w e r e

s l o w e d d r a m a t i c a ll y , a n d l e a d e rs h i p o f t h e s e c o m p a n i e sdem anded inc reased e f f i c i enc ies.

42 D&DI • devicelink.com/mddi • December 2009

R E A D A B O U T P A I N M A N A G E M E N T ,

C OSM ETIC , A N D OU TSOU R C IN G D EA L S IN

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t imes sa les o f $10 mi l l ion and EB ITDA of $14.8 m i l lion ) .V N U S was one of 17 medica l device companies, amon g themFoxHol l • Techno log ies , NuVas ive , and Cu tera , tha t hadsucce ss fu IPOs in 2004, thereby e nd ing a se ven-year IPOd ro u g h t • r the medica l device indust ry .

I n S e p e m b e r , C o v i d ie n a c q u i r e d p u b l i c ly h e l d P o w e rM e d i c a l te rv e n t io n s , a p ro d u c e r o f c o m p u t e r -a i d e d p o w e rsurg ica l c tt i ng and shaping produ c t s . The com pany 's m a inprodu ct , e SurgAssist, i s a s tapl ing de vice tha t has been usedi n m ore t an 45,000 surge r i e s . The t ransac t ion i s a n i ce add-on for C id ien ' s l a rge U.S . Surg ica l bus ines s . The p r i ce was$64 mi l l i n (7.1 times sa les o f $9 mi l l ion) . Like man y sm al lerm edica l • vice com pan ie s , Power M edica l was t h in ly t r adeda n d u n d r c a p i t a l i ze d . N o w u n de r C o v id i e n 's w in g , i t w i l lhave the f inancial resource s and dis t r ibut ion clout needed toexpan d t e g loba l market pene t ra t ion o f i ts p roducts .

A l so • S e p t e m b e r , C o v i d ie n a n n o u n c e d t h a t i t w o u l d a c -qui re pu i c ly he ld Aspec t M edica l Sys t em s by Decem ber 31 ,2009. Fo n ded in 1987, Aspec t i s recognized as a p ioneer in

bra in mo tor ing . The com pany 's Bi s technology w as the f i rs tc l in ica l ly roven an d com m erc ia lly ava i lab le way to m easuret he e f f e c s o f a ne s t he t i c s on t he b r a i n , t he r e by a l l ow i ngc l in ic ian to re l i ab ly gauge the prec i s e am oun t of anes the t ica n d s e d a i v e m e d i c a t i o n a p p ro p r i a t e f o r e a c h p a t i e n t . T h ec o m p a n s t echnology i s u t i li zed in abo ut 74% of o pera t ingroom s ( R) in the Un i ted Sta tes and fu r ther expands C ov i-d i e n 's a l a d y f o rm i d a b l e O R p re s e n c e . T h e p u rc h a s e p r i c ewas $21 1 m illion (2.1 t im es sales of $99 mil l ion) .

I n a dd t i o n t o i t s a c qu i s i ti o n s , C o v id i e n w a s n o t a s l e e pon the d e s t i tu re f ron t . In Septem ber , i t anno unce d tha t i twas se l l i g i ts Sandm an s l eep d iagnos t i c bus ines s to Embla ,a c o m p a y e n t i r e ly f o c u s e d o n t h e s l e e p d i a g n o s t i c s a r e a .Another m a l l s l eep-or i en ted t ransac t ion was the acqui s i tionby R esm d , a $900 mi l lion- revenue deve loper of p rodu c t s tot rea t s lee apne a , o f Lab ora to r ies Narval fo r $12 mi l l ion I t sm and ib a r repos i t ion ing devices com plem ent the line of a i rg e n e r a t o s a n d m a s k s th a t R e s m e d p r o d u c e s .

ConclusThis y ar 's decrease in M &A act ivity in the m edica l device

a n d r e l a d i n d u s t r i e s is l ik e ly a n a b e r r a t io n d u e t o o n e o fth e l o n g s t a n d m o s t s e v e r e re c e s s io n a r y a n d t i g h t c r e d i tper iods e r exper ience d in the Un i ted Sta tes . Overa l l M&Aa c t i v it y , nd m e d i c a l d e v i c e M & A a c t i v i ty i n p a r t ic u l a r ,

shou ld i c rease in 2010. Un l ike m any indu s t r ies , the m edi-c a l de v i i n du s t r y h a s g r o w th m o m e n tu m a n d i s r e l at ive lyr e c e s s io r e s i s ta n t b e c a u s e s o m a n y m e d i c a l p ro c e d u re s a r et ru ly e ss n t ia l r a the r than disc re t iona ry . In addi t ion , the rei s a s u b s a n t i a l n u m b e r o f s m a l l a n d m e d i u m - si ze d m e d i c a ld e v ic e a d c o m p o n e n t c o m p a n i e s th a t h a v e p r o d u c ts o rt e c hno l e s t ha t m a ke t he m a t t ra c t i ve a c q u i s it ion t a r ge t sf o r a l a r e g r o u p o f v e r y m o t iv at e d p o t e n t i a l b u y e r s , b o ths t ra tegic and financial . s

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S a l a r y

Brooks has s een s im i la r t rends . He says the com panies hew o r k s w ' h a r e p re s e r v in g t h e i r c a p i ta l a n d s l o w in g d o w nth e h i r i n p r o c e s s . " Th e y ' re s l o w in g do w n th e i r h i r i n g du et o c a p i t a p r e se r va t i on , a nd t he y a r e c on c e r ne d a bo u t t he

n e x t r o u d o f f i n a n c in g — w h e n i t 's g o i n g t o c o m e a n d w h a tk ind o f r and i t w i l l be . Star t -up , ear ly - s tage co m pan ies a ret ry ing to •e rea l ly sm ar t abou t the i r resources to ma ke su rethey ' re s end ing w ise ly ."

M ull in ; s says tha t the device spa ce i s r ea l iz ing tha t thesky i s no f a l l ing an d tha t p ro f i t s a re com ing back . " I f 'cashi s k ing , ' e n 't e c hno l og y d e ve l opm e n t i s que e n . ' W e ha vew a tc h e d i ri n g r e tu r n t o R& D a s c o m p a n ie s p u r s u e d w h a twas p u t i n h o ld . W i th t h a t , c li n i c a l a n d r e g u l a to r y e f f o r t sh a v e b e e r e e n g a g e d . "

Accor • m g to Brooks , there a re th ree m ajo r cha l lenges int r y in g t o i n d t h e s e p e o p l e r i g h t n o w , e s p e c i a ll y w h e n t h e yneed to e relocated. One is that the drop in the cost of

h o u s in g a s c a u s e d s o m e r e lo c a t i o n p r o b l em s . "S o me b o dym a y b e p s i d e d o w n i n h i s o r h e r h o u s e . T h a t p e r c e iv e dvalue is s • m e t h i n g t h e y w a n t t o m a k e u p . T h e i d e a o f s e l l-ing it no after it's down is psychologically difficult fort h a t p e r s n — e v e n t h o u g h t h e h u g e a dv a n t a g e a w a i ts t h e mi f t h e y c . , " h e s a y s . " A s e c o n d c h a l l e n g e i s t h a t o n c e y o uh a v e a j • b , y o u r e a l ly w a n t to k e e p t h a t jo b a n d y o u b e -c o m e m • e r i sk averse . So the idea o f mak ing a cha nge fo r

a job tha t cou ld d i sappea r a f te r s ix m on ths , and the f ear o fthe unknow n i s s topp ing them . Th i rd , peop le a ren ' t hear ings to r i e s a b o u t t h e f a n t a s t i c s t o c k g a in s a t s t a r t- u p c o m p a -n i e s . W e u s e d t o r e a d a b o u t t h a t a l l th e t i m e — s o m e b o d y

j u s t g o t b o u g h t , p e o p l e a r e m a k i n g a l l th i s m o n e y — a n dt h e y a r e h e a r in g l e s s o f t h a t a n d s o i t 's m a k in g t h e m f e e ll ike ' I'm OK here . I don ' t need to m ake tha t chan ge . ' Thoset h r e e c h a l le n g e s a r e m a k in g i t m u c h m o r e d i f f ic u l t t o p u l lkey t a l en t—A players—right now ."

From a sea rch f i rm pe r spec t ive , Mul l ings breaks devicecompanies down into three categories. He believes thepro fess iona l s ta f f ing over the ne x t 12-18 mon ths fo r thesecom pan ies w i l l f i t in to th ree ca tegor ies .

The f i r st ca t egory com pr i s es the com panies tha t manufac-tu re and se l l p rodu cts . Thei r R&D ef fo r t s t end to be acqu i-s i t ion-cen t r ic ve r sus su bs tan t ia l , in te rna l ly dr iven organ icR&D in i t ia t ives . W hen these com panies a re p rof i t ab le , they

typ ica l ly expand the i r manu fac tur ing and s a les team s to in-crease top l ine sa les . These com panies tha t re ly on huge sa lesf o r c e s , d i s t ri b u t i o n a dv a n t a g e s , a n d c o m m o di ty p r o du c t s

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COHESIVE FAILURE

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Salary Survey 2009

t ha t a re ba sed on p r i ce m ore t han any th ing e l se . He says t heyt end to be s a l es -t eam heavy, cum bersom e on the opera t ionsor logist ics s ide , and not n imb le enough to shi f t quickly w hena on ce-in-a-century cr i s i s h i t s . Such com panies have ser iouslycut m anufac tur ing an d sa le s ac t ivi t ie s a s we l l a s overheadtha t were no t labeled as mission cr i t ica l . In doing so , he say st h e f i rm s h a v e c u t b a c k t o p r o f i ta b i l i ty a n d i n c r e a s e d e f -f i c ienc ies . The reduc t ion in head co unt ac ros s the com panyl ines has a l low ed them to remain p rof i tab le . They have a l soreduced the i r acquisit ions. Therefore the i r business d evelop-m ent , market ing , and sa les fo rces a re l ean and are l ike ly tocom e back slow ly i f a t a l l. Professional opportuni t ies in theset ypes of com panies a re l imi t ed in the nea r t e rm, he s ays .

The s econd ca tegory , he s ays , inc ludes device comp aniestha t man ufac tu re and se l l the i r p roducts and tha t a l so haves t ro n g i n t e rn a l R & D i n i ti a t iv es t h a t a r e p o t en t i a l g am echang ers in the i r respec t ive therapy o r d iagn os t ic space .

" Th o s e p o s i t io n s , i f t h r e a te n e d a t a l l du r in g t h e do w n -t u r n , we r e p r e se r ve d a t a ll c os t s . T he se c om pa n i e s ha vereduced som e of the i r sa l e s o rganiza tion , bu t no t by m uch ,"s a y s M u l l in g s . " W e b e l i e ve t h e s e c o m p a n i e s w i l l c o m e o u to f th i s more qu ick ly than [ those in ] any o ther ca tegory andw i l l s e r io u s l y t a k e a d v a n t a g e o f m a rk e t o p e n i n g s . W e a l s obe l i e ve t ha t w i t h c u r r e n t va lua t i ons b e i ng a t a n a l l- ti m elow, these com pan ies w i l l be p r ime a cqu is it ion ta rge t s."

The f ina l ca tegory enco m passes the s ta r t-up o r eme rg ingt e c h n o lo g y c o m p a n ie s . H e s a y s t h e s e o r g a n iza ti o n s a r e i nth e de v ic e s p a c e t o de v e lo p a s p e c i f i c p r o du c t a dd r e s s in ga pe rce ived ma rke t need. They br ing in ou ts ide inves tor s ,develop a focused techn o logy , and then rese l l tha t p rodu cto r t e c h n o l o g y t o a n a c q u i ri n g c o m p a n y .

Where the Jobs Are

M u l l i n g s n o t e s t h a t te c h n o l o g y c o m p a n i e s w i t h a s t r o n gpresence in the per iphera l disease markets , some o f the in ter-vent ional cardiology m arkets , and a lso som e of the minimal lyinvasive general surgery markets have been leading the chargein h i r ing. He says tha t compan ies in or thopedics (spine) , neu-rology, and cardiac surgery have been less ac t ive .

W a lk e r d i s a g r e e s th a t c a r d io a n d o r th o a r e l e s s a c t iv e ."The g rowth a rea s , a s fa r a s m y expe r i ence i s conce rned , a res t il l o r th o a n d c a r d io a n d p e o p l e r e c o g n ize t h a t ," h e s a y s .

"As a resul t , f i rms are m oving into those m arkets . Ask you r-se l f , wh ere wo u ld you go i f you w ere look ing fo r a job? Ofcourse , you wou ld l ook fo r a com pany w i th se l l ab l e p roduc t sand tha t i s exac t ly wha t these m arke ts o f fe r . The problem i st h a t e ve ry b o d y w a n t s i n . I a m t a lk i n g w i t h m o re a n d m o repeople w ho a re spec i f ica l ly a sk ing abo ut ro les in these a reas

Text continued on page 53

I F B O N D S T R E N G T H I S C R I T I C A L . . , T H E C H O I C E I S C L E A RPF

DC MED ADHESIVE ABC 40064 RTV ADHESIVE

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0% 10 % 20% 30% 40 % 50 % 60% 70% 80%

Male 88%

Female 9%

No Answer 3% —

$123,400

$80,500'

<5 18%

5-14 25%

15+ 34%

No Answer 5% —

$98,800'

$119,000'

$126,200

None 13%

1-4 25%

5+ 52%

$99,500's $116,900

$135,800

$145,000'

<$10 Million

<$100 Million

>$100 Million $155,800'

$117,100

Salary Survey 2009

Comp ensation P rofileT h e t o p 2 5 % o f e m p l o y e e s i n g e n e r a l a n d c o r p o r a t em a n a g e m e n t e a rn $2 21,8 00 o r m o re . Th e a ve ra g e

b o n u s i s $4 2 ,50 0 , a n d th e t y p i c a l r a i se i s 7 .3%.

SALARY $124 5 400MEDIAN TOTAL $165 000

COMPENSATION5

Job-Seeking StatusM o r e t h a n 6 0 % o f a l l r e sp o n d e n t s i n t h is c a t e g o r y w o r k e d f o r o n l y 1

f i rm in the pas t 5 yea rs .

Average Length of Time w ith FirmO n a v e r a g e , g e n e r al o r c o r p o r a te m a n a g e m e n tr esponden ts have w or ked a t the i r p r esen to r g a n i z a ti o n f o r m o r e t h a n 1 3 y e a r s .

10 -14

'Results may be statistically unstable because of low response rate.

5% 10% 15% 20% 25% 30% 35% ote : Percentages m ay not to ta l 100%.

MD&DI • devicelink.com/mddi • December 20096

Median SalariesGenera l o r co rpora te manag e rs s upe rv is e 6 employ ees on ave rage . The

aver age m anage r has w or ked in the f ie ld for near ly 15 year s . M or e

t h a n 5 0 % o f a l l r e s p o n d e n t s h a v e m o r e t h a n 1 5 y e a r s o f e x p e r i e n c e .

Job S curityM o r e t a n 5 0 % o f t h o s e i n g e n e r a l a n d c o r p o r a t em a n a g e n t f e e l v e r y s a ti s f ie d w i th t h e i r j o b .

4% Yes, actively looking

18% No, but strongly considering a new job search

72% No, not considering a new job search

Has your firm been involved in a merger or

acquisition in the last 12 months?

3% Don't know

0% 10% 20% 30% 40% 50% 60% 70% 80%

How secure is your job compared with 12 months ago?

9% More

73% About the same

18% Less

0% 1 % 20% 30% 40% 50% 60% 70% 80%

None 25%

1-4 50%

5+ 24% $140,000

M a l e 8 3% $114,900

$91,400e m a l e 1 7 %

20 + 12 %

0% 5% 10% 15% 20% 25% 30% 35 %

December 2009 • devicelink.com/mddi • MD&DI

°Results may be statistically unstable because of low response rate.

Note: Percentages may not total 100%.

Job SecuritySeven ty-n ine pe rcen t o f s a le s and m arke t ing

pro f e s s iona l s a re s a t i s fi ed o r ve ry s a t i s fi ed w i th

the i r jobs .

a c q u i s it i o n i n t h e la s t 1 2 m o n t h s ?

3 2 % Y e s

2 % D o n 't k n o w

0% 10% 20% 30% 40% 50% 60% 70% 80%

H o w s e c u r e i s y o u r jo b c o m p a r e d w i th 1 2 m o n t h s a g o ?

1 7% M o r e

6 0 % A b o u t t h e s a m e

2 3 % L e s s

0%0% 20% 30% 40% 50% 60%

Average Length of Time w ith FirmT he typ ica l marke t ing p ro f e s s iona l ha s been

em ployed by h i s o r he r p r esen t o r ganiza t ion for an

average of 9 years .

Median Sa lariesThe typ ica l ma r ke t ing pr ofes s iona l ha s w or ked in the f ie ld for 14

year s and super v ises 3 or mor e em ployees . Only 7 % of r espondentss upe rv i se 10 o r more em ployees .

<5 23%

5-14 28%

15+ 50%

$97,500

$97,900

$137,100

<$10 Million $100,000

<$100 Million $124,200

>$100 Million $120,200

6 6 % N o

10 -14

15 -19

$110,900

$100,000

MEDIAN TOTAL

MEDIAN

SALARY $ 1 03 ,9 00

$ 1 50,000

Salary Survey 2009

larketing

Job-Seeking StatusSeven ty- four pe rcen t o f s a le s and m arke t ing p ro f e s s iona l s w ork

5 0 o r m o r e h o u r s p e r w e e k .

0%0%0%

29% No, bu

61% No, not considering a new jo

1 0 % Y e s , a c t i v e ly lo o k i n g

s t r o n g l y c o n s i d e r i n g a n e w j o b s e a r c h

40 % 50 % 6 0%

s e a r c h

Compensation ProfileTwenty-f ive percent of market ing professionalsm ake l e s s than $86,000. How ever , 25% m ake a tleas t $150,400. A typical ra ise is 5.6%, and th eaverage bonus reported was $19,600.

3% Yes, actively looking

No, but strongly con sidering a n ew job se arch

74% No, n ot co nsidering a new job se arc h

0%0%0% 0%0%0%0% 0%0%_

ac quisition in the last 12 months?

45 % Ye s

53% No

$99,11..

$87,800

M al e 80 %

Fe male 13 %

No Answer 7% —

YEARS iN INDUSTRY

NUMBER OF EMPLOYEES SUPERVISED

<$10 Million

<$100 Million

>$100 Million

$100,000

$97,900

$90,000

'R es ults m ay be statist ically uns tab le because of low res pon se rat e .

N ot e: Per cen tages m ay not tota l 100% .

None 33%

1-4 17%

5+ 49%

$81,000

$100 , 0 00

$99,000

Salary Survey 2009

Compensa tion Profi lePro duct ion and m anuf ac tu rin g em plo yees in th e 25th per centi le m ake $74,0 00 or le ss . The hig hest25% m ake $108,000 or m ore. Respondents saw a4.7 % ra is e on avera ge.

ME D IA N S A L A R Y $94,700

ME D IA N T O T A L

O MP ENS A T IO N $114,400

Job -S eek in g S tatu s N early 7 0% o f p ro du ctio n an d m an u factu ri n g p ro fe ssio n als h av e w orked fo r th e sam e fi rm for a t le ast 5 years .

J o b S e c u r i t ySixty-s even perc ent of all re sp ondents fe el sa ti sfi edor very satisfied with their current position .

Median S alariesSeven perc ent of pro ductio n and m anufactu ri ng pro fe ss io nals indic atedth at th ey su perv is e 20 or m ore em plo yees.

0%0%20% 30 % 40% 50% 60 % 0 3% Don't know

How sec ure is yo ur job com pa red with 12 mon ths a go ?

17% Mor e

68 % A b ou t the sa m e

25% Less

<5 12%

5-14 29%

15+ 58%

$79,400

$90,000

$100,600

0%10%20% 30%40%50%60%70%

A verag e L en g th of T ime w ith Fi rm T he typical respondent has been in th e productionand m anufacturing field fo r m ore than 11 years.

23% -9

10 -14 24 %

15 -19 8%

18 %0+

0% 5% 10 % 15% 20% 25% 30%

December 2009 • devicetink.com/mddi • MD&DI

s $93,100

$ 96 ,4 0 0

$83, 7 00

< $10 M i l li on

<$100 M i l lion

>$100 M i l lion

'Results be because of low responseay statistically unstable

Note: Percentages may not total 100%.

Salary Survey 2009

P rComp ensation P rofileTwenty-f ive percent of responde nts in QA/QC earnless than $66,000. Those in the 75th p ercent i le

m ake m ore than $106,800. The average bon us i s$13,100, and the typical ra ise is 4.2%.

S A LA R Y $93,600

C O M P E N S A T I O NM E D I A N T O T A L $ 1 1 1 mlliJob S curityFif ty-t cc percen t of QA/QC respon dents have

wo rke f o r 2 o r m ore f i rms in the pas t 5 yea rs .

% D o n ' t k n o w

2° No Answer

0%0% 20% 30% 40% 50% 60%

H o w s e c u r e i s y o u r j o b c o m p a r e d w i t h 12 m o n t h s a g o ?

6 7 % A b o u t t h e s a m e

0% 10% 20% 30% 40% 50% 60% 70% 80%

Aver ge Length of Time w ith FirmTypic I r esponde nts in Q A/Q C r epor ted

abo ut 8 year s w i th the i r o r ganiza t ion .

5 1% 10 % 15% 20 % 25 %0%

H a t y o u r fi r m b e e n i n v o l v e d i n a m e r g e r o ra c q u i s i ti o n i n t h e l a s t 12 m o n t h s ?

40% Y e s

54% No

10 -14

Job-Seeking StatusAbout 7 0 % of r esponde nts ind ica ted tha t they a r e sa t i s f ied or ver y

s a t i sf i ed wi th the i r p re s en t job .

1 5 % Y es , ac t i ve l y l o o k i n g

b u t s t r o n g l y c o n s i d e r i n g a n e w jo b s e a r c h2 % N o ,

59% No, not considering a new job search

0%0%0%0%0%0%0%

Median Sa lariesT he typ ica l QA/QC pro f e s s iona l s upe rv i s e s 4 em ployees . Mo re than

4 0 % of r esponden ts do no t super v ise any em ployees .

$9 3, 800

N o n e 4 1%

1-4 21%

5+ 38% $104,000

$7 6, 300

M a l e 7 9%

Female 19%

N o A n s w e r 1 % —

<5 13%

5-14 32%

15+ 54%

$65,700'

$ 8 6 ,8 0 0

$104,200

$87 , 200

$102,700

Com pensat ion P rof ileT he typ ica l ra i s e f o r regu la to ry and l ega l a f f a i rs

p ro f e s s iona l s i s 4 .6%; the ave rage b onus i s

$32 ,00 0 . The low es t 2 5 % ear n les s than $6 3 ,8 0 0 ,w h i l e t h e h i g h e s t 2 5 % e a r n m o r e t h a n $ 1 4 7 ,4 0 0.

MEDIAN

SALARY

MEDIAN TOTAL

PENSATION

5 1 0 0 ,900

$ 1 3 6, 0 0

0% 10% 20 % 30% 40% 50 % 6 0%

34% Yes

6 0 % N o

5 % D o n 't k n o w

$129,000

N o n e 3 7 %

1-4 36%

5+ 27% $148,500

$ 6 8 ,2 0 0

<5 15%

5-14 26%

15+ 60%

$150,900 3

$93,700

$118,000

$129,000'

$9 0, 100

$107,800

Salary Survey 2009

Job-Seeking StatusT wo-th i rds o f regu la to ry a nd l ega l a f f a ir s p ro f e s s iona l s ind ica te

tha t they a re ve ry s a t i s f i ed wi th the i r cu r ren t job .

0%0%20%30%40%50%60%70%80%1 1 1 1 1 1 9 % Y e s , a c t i v e ly lo o k i n g

7 0 % No , n o t c o n s i d e r i n g a n ew jo b

2 1% N o , b u t s t r o n g l y c o n s i d e r i n g a n e w jo b s e a r c h

s e a r c h

Job SecurityFif ty-n ine pe r cen t of r espond ents have w or ked a t

the sam e f i rm for the pas t 5 year s .

H a s y o u r fi r m b e e n i n v o lv e d i n a m e r g e r o r

a c q u i s i t io n i n t h e l a s t 1 2 m o n t h s ?

Median Sa lariesT he typ ica l p ro f e s s iona l in th i s f ie ld s upe rv i s e s 3 em ployees . Abou t

21% of the re s pond en t s s upe rv i s e 1 employ ee , and 37% s upe rv i s e

n o n e .

$122,700ale 52%

Female 46%

N o A n s w e r 1 % —

$95,200

H o w s e c u r e i s y o u r j o b c o m pa r e d w i t h 1 2 m o n t h s a g o ?

O i l 8% More

7 7 % Ab o u t t h e s a m e

0% 10% 20% 30% 40% 50% 60% 70% 80%O E 15% Less

Average Length of Time with FirmT he typ ica l re s pond en t ha s worked f o r the s ame

c o m p a n y f o r a l m o s t 1 1 y e a r s a n d h a s 1 7 y e a r s o f

exper ience in the f ie ld .

< $10 M i l li on

< $100 M i l l i on

> $100 M i l l i on

I% 10 % 15% 20% 25% 30%%

December 2009 • devicetink.com/mddi • MD&DI

'Results may be statistically unstable because of low response rate.

Note: Percentages m ay not total 100%.

MEDIAN TOTALCOMPENSATION

MEDIANS A L A R Y $ 1 0 0 , 0 0 0

$ 1 4 0 , 0 0 0

0%0% 20% 30% 40% 50% 60%

H o w s c u r e i s y o u r jo b c o m p a r e d w i th 1 2 m o n t h s a g o ?

2 7 % N o , b u t s t r o n g l y c o n s i d e r i n g a n e w j o b s e a r c h

50 %% 6 0%0%0%0%0%0%

Job-Seeking StatusN ear ly 8 0% o f r esponden ts in th i s ca tegor y say they a r e sa t i s fied or

very sa t is f ied with the ir job.

4 % Y e s , a c t i v e ly l o o k i n g

6 6 % N o , n o t c o n s i d e r i n g a n e w j o b s e a r c h

Median SalariesThe aver age R&D pr ofes s iona l super v ises 3 em ployees . M or e than

5 0 % o f t h e r e s p o n d e n t s d o n o t s u p e r v i se a n y e m p l o y e e s , a n d 6 %

s upe rv i s e 20 o r m ore .

M a l e

Female

88 % $ 108,000

10% $79,300•

N o A n s w e r 2% —

<5 14 % $73,300a

5-14 38 % $98,000

15 + 45 % $120,000

C 1 1 1 1 1 = 1 1 1 1 1 2 1 1 1 • 1 1 1 1 1 1 1 1 1 1 • 1 1 1 1 1 1Average Length of Time w ith FirmTypic 1 r esponde nts have w or ked a t the i r f ir mfor 10 or m or e year s . N ear ly 5 9% of r espon dents

h a v e o r e t h a n 1 5 y e a r s o f e x p e r i e n c e . $124,500

$ 141, 70 0

N o n e 5 7%

1-4 14%

5+ 30%

20 4 1

o k 5%

a R esults may be stat istical ly unstable because of low response rate.

10% 15% 20% 25% 30% ote: Percentages may not total 100%.

$9 8, 000

Job S curityO f r e s o n d e n t s , 3 5 % h a v e b e e n w i th t h e s a m e

comp y for 10 or more years.

H a s y o u r f ir m b e e n i n v o lv e d i n a m e r g e r o ra c q u i s i t io n i n t h e l a s t 12 m o n t h s ?

45% Y e s

50% No

6 % D o n ' t k n o w

s a m e6 % A b o u t t h e

1 1% M o r e

2 3 % Les s

0% 0% 20% 30% 40% 50% 60% 70% 80%

< $10 M i l l i on

< $100 M i l li on

>$100 M i l lion

$107 , 000

$145,100'

$ 97,8 0 0

PFCompensation ProfileR&D p rofess ionals in the 25th percent i le earned

$75,000 or less , and tota l com pensat ion for the sam egroup w as abou t $102,500 . An ave rage ra i s e was

6 . 4%, and the ave rage bonu s w as $17 , 100 .

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Reliable performanceeven in the most critical

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WHAT CAN VERSATILITY DO

FOR YOU,

Salary Survey 2009

Continued from page 45

because this is defini te ly where opportuni t ies exis t ."W alke r says t ha t m any job candida t e s com e f rom d i f fe ren t

areas in the m edica l device market , but tha t doesn ' t s top themf rom wa nt ing in . He a lso s ees job po ten t i a l i n the neuro logym arke t . "Disc ip l ines tha t remain s t rong a re enginee r ing andresearch beca use these a re the a reas tha t l ead to innovat iona n d d i f f e re n t i a ti o n . O b v io u s ly , o n c e t h e r e i s a m a r k e t f o rt hose produ c t s , sa l e s in the nex t impo r tan t p i ece ."

" W e 'r e s e e i n g s o m e s t r e n g t h i n t h e s p i n e a n d o r t h o p e d i ca r e a s — p r o b a b ly a l o t t o do w i th t h e a g in g p o p u la t io n a n d

M E T H O D O L O G Y

T h e i n f o r m a t io n p r e s e n t e d i n t h i s a r t i c le p r o v i d e s abroad framework for approximating employee com-

pensa t ion in the U .S . m ed ica l dev ice indus t r y , based onMD&DI's s a la ry s u rvey f o r 2009. Mos t o f the re s pon s esa n a l y z e d a r e l i n e a r. C r o s s - ta b u l a t i o n i s u s e d t o a d d r e s sone var iab le , such as j ob func t ion , and ana lyze i t s imul-taneously with a second variable, such as number ofemployees supervised. To account for the inf luence of ad-di t iona l var iab les , mu l t ivar ia te ana lysis i s used to ex aminea l l va r iab l e s s im ul t aneous ly , a cco un t fo r t he i r i n t e rde -pendence , and iden t if y thos e tha t have the h ighes t deg reeof p red ic t ive pow er . In any g iven yea r , s ome f ac to rs m ayn o t h e l p p r e d i c t s a l a r y — u s u a l l y b e c a u s e t h e y c o r r e l a tes t rong ly wi th o the r va r i ab le s inc luded in the m ode l .

T he s u rvey s ample o f 1635 was s e lec ted in s ys tema t ic ,s t ra t i fi e d f a s h io n b y K M P S a n d R e a d e x R e s e a r c h f r o ms e g m e n t s o f MD&DI's d o m e s t i c c i rc u l a t io n i n t h e c a t -egor ie s o f f in is hed m edica l dev ice manu f ac tu re rs and/o ri n v it ro d i agnos t i c m a nufac tu re r s , r ep re sen t ing 26 ,339rec ip ien t s a t the t ime o f s am ple s e lec t ion .

D a t a w e r e c o l l e c t e d v ia m a i l su r v e y f r o m J u l y 7 t oAug us t 19 , 2 0 0 9. The sur vey w as c losed for t abu la t ionw i t h 5 9 2 u s a b l e r e s p o n s e s — a 3 6 % r e s p o n s e r a t e. A sw ith any r esea r ch , the r esu l t s should be in te r pr e ted w i ththe po ten t ia l o f nonr esponse b ias in mind . It i s unkno w nh o w t h o s e w h o r e s p o n d e d t o t h e s u r v e y m a y b e d i f fe r e n tf r o m t h o s e w h o d i d n o t r e s p o n d . In g e n e r a l , th e h i g h e r

t he re s pons e ra t e , the lower the p robab i l i ty o f e s t im a t ione r ro r s d u e t o n o n r e s p o n s e a n d t h u s , t h e m o r e s t a b l e th er e s u l ts . T h e m a r g i n o f e r r o r f o r p e r c e n t a g e s b a s e d o nsmal le r sample s izes wi l l be la rger .

The f inal resul ts are based on the 485 ind ividuals who in-

dica ted tha t they a re involved in the indust ry and w ork fu l lt ime in f i rms man ufac tur ing f in ished m edica l devices and/

or in vi t ro diagno st ics , represent ing approxim ate ly 21,000MD&DI rec ip ien t s. T he m arg in o f e r ro r f o r pe rcen tagesbas ed on 485 us ab le re spons es i s ± 4 . 4% a t the 95% con -

f idence leve l. Tha t i s , 95% of the t ime we can be confidenttha t percentages in the ac tua l popula tion w ould not vary by

mo re than th i s in e i the r d i rec iton . T he marg in o f e r ro r f o rpercentages based o n sm al ler sample s izes wi l l be larger .

December 2009 • devicelink.com/mddi • MD&DI

t h e e x p e c t e d g r o w t h i n t h e n u m b e r o f p r o c e d u r e s ," s a y sBr o o k s . " W i th th e c h a n g e s a t F D A a n d h e a l t h c a r e i n s u r -ance en v i ronme n t overa l l , the va lue o f rea l ly good c l in ica lda ta i s ever more impo r tan t than i t has been in the pas t . Sothe inves tmen t in to [h i r ing fo r] good c l in ica l s tud ies seemsto be increas ing . Th is is a h igh bu rno u t space pos i t ion dueto job pressure and h igh t r ave l ."

The Job Hunt

Mul l ings s ays tha t fo r the cand ida te in the m ed ica l devices p a c e , th e p a s t 1 2 m o n th s h a v e b e e n t h e m o s t c h a l le n g in ghe has s een in h i s 20 yea rs in the execu t ive s ea rch indus t ry ."The compression of opportunity across the board hasbeen a t an a l l - t im e h igh ," he says .

A c c o r d in g t o Mu l l i n g s , ma n u f a c tu r in g o v e r h e a ds w e r eunder attack, sales forces were greatly reduced, R&D

i n i ti a t ive s w e r e pu t on ho l d , a nd o u t s i d e i nve s t o r s we r e

n o w h e r e t o b e f o u n d . " T h e r e w e r e n o s a f e h a v e n s . T h eb i g c o m p a n i e s w e re s h e d d i n g e m p l o y e e s i n l a rg e n u m b e r s .Smal le r com pan ies w ere ju s t ho ld ing on in a l it e ra l day- to -day ex i s tence . For the f ir s t time in ou r exper ience , we sawr e a l A p la y e r s b e in g l e t g o f r o m c o m p a n ie s a t a r a t e t h a twa s new to the dev ice space ."

M o r e o v e r , h e s a y s , t h e m a r k e t c o n t in u e s t o b e f l o o de dw i th e xc e p t i ona l l y sk i l le d w or ke r s . " In t he pa s t , from a

totit i

search f i rp resen t inour 20 yeplaced msea rchesi n a s i n g la r e ou t ohir ing th

Brooksnot a l l cat h e c o rn

p o in t o f v i e w , t h e r e w a s a s t i g m a a t t a c h e d t oune m pl oye d c a nd i d a t e s t o a c l i e n t . In f a c t , in

r s o f s ea rch in the med ica l device space , we havebe four une m ployed can d ida tes in the 3000-plusa t w e h a v e c o m p le t e d . In 2009 , w e p l a c e d f o u rm o n th . Th i s s h o w s t h a t r e a l ly t a l e n t e d p e o p l e

w o r k in l a r g e n u m b e r s a n d t h a t c o m p a n i e s a re

a l s o s e e s s o m e to p t a l e n t in t h e j o b m a r k e t , b u td ida t e s a r e , a n d i t a c tu a l l y m a k e s i t h a r de r f o rn i es t o f i n d t h e r i g h t f i t . "C o m p an i es a r e s t i ll

enged to f ind the r igh t peop le w i th the r igh t ski l lm a y h a v e to d o a s e a r c h a n d f in d s o m e o n e w h ove ly looking ," s ays Brooks .s s ays h i s c l i en t s began h i r ing ag a in a f t e r the f i rs t2009. The proce ss , he says , has cer tainly been mo ree re loca t ion bu dge t s fo r cand ida tes have been cu t

pos i ti on ha s h a d t o s t a nd up t o j u s t if i c a t ion o nry l eve l . Searches fo r c l in ica l , regu la to ry , R & D ,a t io n a l p o s i ti o n s h a v e b e e n l e a d in g t h e c h a r g e .

or sa l e s , m anufac tu r ing and ope ra t ions , and dow n-rke ting have been on a m uch s lower up take .r e c o m m e n d s t h a t p e o p l e c r e a te t h e ir o w n o p -s . W h a t I 'm t e l li n g t h e m to do i s t o n o t s a y y o uk in g , b u t a c tu a l ly do i t . Th a t m e a n s s e t t i n g u p and ge t t ing back to w ork even i f you in tend fo r i t

pora ry ."says tha t mos t people a re s end ing the ir re sume ou tl i the grea t onl ine tools now avai lable . But , he says,

g p r o b l e m w i th t h a t i f y o u ' re o n t h e h i r in g s ideee 50 resumes . "A cand ida te 's t rue w or th ma y ge t

se the potent ia l employer can see exper ience but i so d e t e rm i n e h o w w e l l t h a t p e r so n w o u l d p e r f o rmm p any . The peop le t ha t know how good yo u rea l ly

peop le t ha t have worked w i th you i n t he pa s t . Jobe e d t o c o n n e c t w i th t h e s e p e o p l e i n a me a n in g f u lsk those re fe rences to s end you r re sume to p eople

w i t h a n i c e n o t e o f r e c o m m e n d a t i o n . "e s c a n d ida t e s t o do m o r e t h a n ju s t e - ma i l o r c a l lagues . Take them out to lunch or d inner . He notesa n d ida t e m a k e s a qu i c k p h o n e c a l l , t h a t p e r s o nave t ime to ge t the i r head around w hat the cand i -king for a s fa r a s new e m ploym ent . At lunch , theo r e o n w h a t 's g o in g o n w i th th e p e r s o n l o o k in gF o r e x a m p le , th e c o n t a c t ma y b e a b l e t o a n t e u p

ges t ions to he lp enhance the cand ida te ' s ne twork .

e big mistake is when job

kers spend all their time

ding their resume on ads

and little time working their

n -twork." —Roger Brooks

very cha lset . Theyi s no t ac

Mul l inquarter odiligent:a n d e a c hnear ly ea n d i n t ePosi t ionsst ream

W a l k ep o r tu n i t ia re c o n sbus ine ssto be to

B r o o kt h ro u g hthere 's aa n d y o u

lost becano t ab leat their care are tseekersfa sh ion .they kno

H e u rsuch co i lt ha t i f am a y n o tdate i s 1

focus i sfo r a jos o m e s u

Salary Survey 2009

" G e t n a me s f r o m th o s e p e o p l e y o u k n o w a n d r e s p e c t , a n dd r op t he i r na m e s w he n yo u ' r e c a l l ing o t he r pe o p l e . Y ouh a v e t o b e a n a m e d r o p p e r o f t h e r i g h t p e o p l e a n d g e t o u tand t ake as many people to cof fee a s pos s ib le and don ' t r e lyon the In te rne t to f ind yo ur nex t job , " Brooks say s .

H e s a y s t h a t y o u c a n s e e j o b a d s o n L i n k e d I n , w h i c hc a n b e h e lp f u l , b u t t h a t 7 5- 90% o f h ig h - le v e l p r o f e s s io n -a l s g e t t h e i r n e x t j o b f r o m th e i r n e tw o r k , a n d jo b s e e k e r ss h o u ld f o c u s o n t h e i r n e tw o r k . " Th e b ig m i s t a k e i s w h e nj ob se e ke r s spe nd a l l the i r ti m e se n d i ng t he i r re sum e onads and l i t t le t ime w orking the i r ne twork . If a comp any i sh i r ing on Linked In , tha t wou ld be the t im e to reach ou t tos o m e b o d y [ a t t h a t c o m p a n y ] . "

He says the t r ick i s to m atch your ex per ience w i th o therc o m p a n i e s o r d i v is i o n s y o u 'v e w o rk e d w i th a n d w i th c o m -p a n i e s th a t a r e g o i n g t o s e e t h a t c o m p a n y n a m e a n d r e s p e c ti t. " S o u s e t h e b r a i n p o w e r o f L i n k e d I n t o s t u d y w h e r e

p e o p l e a r e g o in g a n d w h e re t h e y c a m e f ro m . Y o u c a n l o o ka t a c o m p a n y a n d s a y , 't h e y 'v e b e e n h i r in g p e o p l e f r o mt h is c o m p a n y , a n d m y c o m p a n y i s r e a ll y s im i la r t o th a tc o m p a n y . D o n ' t g o o u t o f t h e b o x . F o l lo w th e m o m e n tu mo f t h e s t r e a m a n d g e t y o u r s e l f i n to c o m p a n ie s t h a t r e sp e c tyour expe r ience ," adv ises Brooks .

A Tough Road Ahead

Mu l l ings desc r ibes the event s o f the pas t yea r a s w orkingaga ins t th is cand ida te m arke t . "Hir ing i s de f in i te ly tak ingplace . W e a re a s busy as ever , " s ays Mu l l ings . "The ma rke ti s f u l l o f ta l e n t e d c a n d ida t e s t h a t a r e c o m p e t in g f o r p o s i -t io n s a s c o m p a n i e s r a m p b a c k u p i n c r i ti c a l e a r ly - s ta g et echno logy developmen t ro les .

H o w e v e r , M u l li n g s s a y s t h a t c o m p a n i e s h a v e n o t c u tsa l a r ie s d ue t o t he supp l y- d e m a n d e q ua t ion . Ca n d i d a t e sw h o i n t h e p a s t w o u l d o n l y l o o k a t a m i n i m u m s a l a ry l e v e lr e l a ti ve to w he r e t he y t houg h t t he y shou l d be p a i d , ha vec o m e do w n in t h e i r e x p e c t a t i o n s a n d s e c u r e d p o s i t io n s a t

M D D I//online

a l e v e l a n d p a y r a t e t h e y m a y n e v e r h a v e c o n s ide r e d b e -

f o r e . No w c a n d i d a t e s w h o w o u l d o n l y h a v e l o o k e d a t v ic ep res iden t pos i t ions a re cons ider ing d i rec to r o r ma nager po-s i t ions in o rde r to s tay in the gam e . "Tha t equa t ion w orksa l l the w ay dow n the h i r ing cha in . Tha t fu r the r f lood s them a r ke t w i t h c om pe t i ti on . I t d oe sn 't d r ive d ow n sa l a r i e s ,b u t i t do e s g r e a t l y i n c re a s e t h e v a lu e t h e h i r in g c o m p a n ygets for i ts dol lar."

The resu l t i s tha t the dev ice market con t inue s to emerg ea s a f o r mida b l e s u r v iv o r f r o m th i s e c o n o m ic c r is i s . M u l l -i n g s p o in t s o u t t h a t g o o d c o m p a n ie s h a v e p iv o te d o n t h e i rs t rengths an d shed their exc ess . "All in a l l , it was pa inful fora la rge numb er o f peop le . Pa in a lways seem s to b r ing c la r-i ty though . Hir ing i s occu rr ing in the ear ly - s tage ups t reamtechnology ro le s , inc luding des ign , deve lopment , c l in ica l ,r e g u l a to ry , a n d s o m e u p s t r e a m m a rk e ti n g ro l e s ." s

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Medtech Job Hiring Yes - But the Market is Tough - 2009 Med Jobs Salary Survey - Conroy, s

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