Salary Survey 2009
Medtech Jobs: Hiring Yes,
But the Market Is Tough
With the roughest year in recent memory now past, experts say that hiring will return, but
71" companies will be much more diligent in their selection of the right person for the job.
ii
7:1 Sherrie Conroy
he medical device industry job market has definitely
T been affected by the economic downturn in the past
24 months. One expert characterizes 2009 as a "set-
tling in" year. "Prior to that, the device industry came out
of a very robust five years. Companies were making healthy
profits. If profits were good, that money was put back into
the company to drive top line," says Joseph Mullings, presi-
dent and CEO of the Mullings Group
(Delray Beach, FL).
Then, he says, the bottom dropped
out of the economy in general. "Draft-
ing behind the consumer and bank-
ing markets, the device world felt the
effects, especially in Q4 of 2008 and
into Q1 of 2009. Budgets were locked
down, management evaluated every line
item, and the device market was frozen
in place." And even though the firms
that survive will do well coming out of
this crisis, Mullings says the industry
will see a continued reduction in the
manufacturing-related work forces and
the device sales forces.
In the meantime, it is an employer's market. "The big-
gest thing I am seeing—and have been preaching—is that
employers are really taking advantage of the current job
market," says Brian Walker, principal of the Wise Group
( Fairfield, CT). "I'm not talking about it being a buyer's
market, although that is the case. Employers are working
their employees harder and longer than ever. The reason?
They can. Employees are simply happy to have a job these
days, and they know there are hundreds of people just
waiting for the opportunity to get those jobs."
"Bonuses are being frozen, raises have been reduced, and
in some cases eliminated, with management citing the need
to stay competitive. New hires are hit especially hard be-
cause companies are exploiting the job market," Mullings
Sherrie Conroy is editor-in-chief of MD&DI.
42
says. He points out that historically unemployment is a
lagging indicator and that it is not unusual to see unem-
ployment continue to rise going into a recovery. Prior to the
last downturn, he says, growth in the device industry had
been robust and, in hindsight, difficult to sustain. "Struc-
tural events many change how device companies scale up
moving forward," he says.
"A CEO needs to justify any compen-
sation to the board," says Roger Brooks,
partner with Tatum CIO Partners LLP
in Chicago. "They're still going to do
what they need to do to get the right
person but they will stay within indus-
try benchmarks. Our clients are making
fair industry-standard offers and are
not making low offers because of the
high unemployment rate."
Mullings points out that the good
news for the device industry is that
the medical device market is not as
severely subject to consumer influ-
ence as most other industries. Rather,
the device industry revolves around
the management of patients and their health. With that in
mind, he says, his firm is seeing the hiring of certain disci-
plines within the device space coming back strong, while
others are lagging.
Mullings says a review of the searches his firm completed
over the past 12 months showed that R&D, clinical, and
regulatory positions were the strong leaders coming out of
this challenging time. "It was our observation that at the
start of this downturn, companies froze R&D expenditures.
They also pulled in the reigns on new clinical initiatives and
reevaluated those ongoing clinical efforts, stopping those
that were not promising."
He says that companies reduced manufacturing head
counts as inventories were cut, new product launches were
slowed dramatically, and leadership of these companies
demanded increased efficiencies.
MD&DI • devicelink.com/mddi • December 2009
 CATHETER SOLUTIONS
times sales of $10 million and EBITDA of $14.8 million).
FROM INTERFACE
VNUS was one of 17 medical device companies, among them
FoxHoll • Technologies, NuVasive, and Cutera, that had The only vertically integrated
successfu IPOs in 2004, thereby ending a seven-year IPO provider of outsourced solutions for
drought • r the medical device industry.
In Sep ember, Covidien acquired publicly held Power
catheter manufacturing.
Medical terventions, a producer of computer-aided power
surgical c tting and shaping products. The company's main
product, e SurgAssist, is a stapling device that has been used
in more t an 45,000 surgeries. The transaction is a nice add-
on for C idien's large U.S. Surgical business. The price was
$64 milli n (7.1 times sales of $9 million). Like many smaller
medical • vice companies, Power Medical was thinly traded
and und rcapitalized. Now under Covidien's wing, it will
have the financial resources and distribution clout needed to
expand t e global market penetration of its products.
Also • September, Covidien announced that it would ac-
quire pu icly held Aspect Medical Systems by December 31,
2009. Fo nded in 1987, Aspect is recognized as a pioneer in
brain mo toring. The company's Bis technology was the first
clinically roven and commercially available way to measure
the effec s of anesthetics on the brain, thereby allowing
clinician to reliably gauge the precise amount of anesthetic
and seda ive medication appropriate for each patient. The
compan s technology is utilized in about 74% of operating
rooms ( R) in the United States and further expands Covi-
dien's al ady formidable OR presence. The purchase price
was $21 1 million (2.1 times sales of $99 million).
In add tion to its acquisitions, Covidien was not asleep
on the d estiture front. In September, it announced that it
was selli g its Sandman sleep diagnostic business to Embla,
a compa y entirely focused on the sleep diagnostics area.
Another mall sleep-oriented transaction was the acquisition
by Resm d, a $900 million-revenue developer of products to
treat slee apnea, of Laboratories Narval for $12 million Its
mandib ar repositioning devices complement the line of air
generato s and masks that Resmed produces.

Conclus
This y ar's decrease in M&A activity in the medical device
and rela d industries is likely an aberration due to one of
the long st and most severe recessionary and tight credit
periods er experienced in the United States. Overall M&A
activity, nd medical device M&A activity in particular,
should i crease in 2010. Unlike many industries, the medi-
cal devi industry has growth momentum and is relatively
recessio resistant because so many medical procedures are
truly ess ntial rather than discretionary. In addition, there
is a subs antial number of small and medium-sized medical
device a d component companies that have products or
technol es that make them attractive acquisition targets
for a lar e group of very motivated potential buyers, both
strategic and financial. ■
CATHETER SOLUTIONS

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COSMETIC, AND OUTSOURCING DEALS IN
THE EXPANDED VERSION OF THE ARTICLE AT www.interfaceusa.com
deviceUnk.com/mddi/mergers09

Decemblr 2009 • devicelink.com/mddi • MDa DI 41

 Salary

Brooks has seen similar trends. He says the companies he
works w' h are preserving their capital and slowing down
the hirin process. "They're slowing down their hiring due
to capita preservation, and they are concerned about the
next rou d of financing—when it's going to come and what
kind of r and it will be. Start-up, early-stage companies are
trying to •e really smart about their resources to make sure
they're s ending wisely."
Mullin ;s says that the device space is realizing that the
sky is no falling and that profits are coming back. "If 'cash
is king,' en 'technology development is queen.' We have
ai
watched iring return to R&D as companies pursued what
was put in hold. With that, clinical and regulatory efforts
have bee reengaged."
Accor • mg to Brooks, there are three major challenges in
trying to ind these people right now, especially when they
need to e relocated. One is that the drop in the cost of
housing as caused some relocation problems. "Somebody
may be pside down in his or her house. That perceived
value is s • mething they want to make up. The idea of sell-
ing it no after it's down is psychologically difficult for
that pers n—even though the huge advantage awaits them
if they c. ," he says. "A second challenge is that once you
have a j • b, you really want to keep that job and you be-
come m • e risk averse. So the idea of making a change for
a job that could disappear after six months, and the fear of
the unknown is stopping them. Third, people aren't hearing
stories about the fantastic stock gains at start-up compa-
nies. We used to read about that all the time—somebody
just got bought, people are making all this money—and
they are hearing less of that and so it's making them feel
like 'I'm OK here. I don't need to make that change.' Those
three challenges are making it much more difficult to pull
key talent—A players—right now."
From a search firm perspective, Mullings breaks device
companies down into three categories. He believes the
professional staffing over the next 12-18 months for these
companies will fit into three categories.
The first category comprises the companies that manufac-
ture and sell products. Their R&D efforts tend to be acqui-
sition-centric versus substantial, internally driven organic
R&D initiatives. When these companies are profitable, they
typically expand their manufacturing and sales teams to in-
crease top line sales. These companies that rely on huge sales
forces, distribution advantages, and commodity products
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 Salary Survey 2009

that are based on price more than anything else. He says they
tend to be sales-team heavy, cumbersome on the operations
or logistics side, and not nimble enough to shift quickly when
a once-in-a-century crisis hits. Such companies have seriously
cut manufacturing and sales activities as well as overhead
that were not labeled as mission critical. In doing so, he says
the firms have cut back to profitability and increased ef-
ficiencies. The reduction in head count across the company
lines has allowed them to remain profitable. They have also
reduced their acquisitions. Therefore their business develop-
ment, marketing, and sales forces are lean and are likely to
come back slowly if at all. Professional opportunities in these
types of companies are limited in the near term, he says.
The second category, he says, includes device companies
that manufacture and sell their products and that also have
strong internal R&D initiatives that are potential game
changers in their respective therapy or diagnostic space.
"Those positions, if threatened at all during the down-
turn, were preserved at all costs. These companies have
reduced some of their sales organization, but not by much,"
says Mullings. "We believe these companies will come out
of this more quickly than [those in] any other category and
will seriously take advantage of market openings. We also
believe that with current valuations being at an all-time
low, these companies will be prime acquisition targets."
The final category encompasses the start-up or emerging
technology companies. He says these organizations are in
the device space to develop a specific product addressing
a perceived market need. They bring in outside investors,
develop a focused technology, and then resell that product
or technology to an acquiring company.
Where the Jobs Are
Mullings notes that technology companies with a strong
presence in the peripheral disease markets, some of the inter-
ventional cardiology markets, and also some of the minimally
invasive general surgery markets have been leading the charge
in hiring. He says that companies in orthopedics (spine), neu-
rology, and cardiac surgery have been less active.
Walker disagrees that cardio and ortho are less active.
"The growth areas, as far as my experience is concerned, are
still ortho and cardio and people recognize that," he says.
"As a result, firms are moving into those markets. Ask your-
self, where would you go if you were looking for a job? Of
course, you would look for a company with sellable products
and that is exactly what these markets offer. The problem is
that everybody wants in. I am talking with more and more
people who are specifically asking about roles in these areas
Text continued on page 53

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 Salary Survey 2009

Compensation Profile Job-Seeking Status

The top 25% of employees in general and corporate More than 60% of all respondents in this category worked for only 1
management earn $221,800 or more. The average firm in the past 5 years.
bonus is $42,500, and the typical raise is 7.3%.

4% Yes, actively looking

SALARY $1245400 18% No, but strongly considering a new job search

MEDIAN TOTAL
COMPENSATION
$165 000 0% 10% 20%
72% No, not considering a new job search

30% 40% 50% 60% 70% 80%

5
Job S curity Median Salaries
More t an 50% of those in general and corporate General or corporate managers supervise 6 employees on average. The
manag ent feel very satisfied with their job. average manager has worked in the field for nearly 15 years. More
than 50% of all respondents have more than 15 years of experience.
Has your firm been involved in a merger or
acquisition in the last 12 months?

Male 88% $123,400

*z.7
Female 9% $80,500'

3% Don't know No Answer 3% —

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

How secure is your job compared with 12 months ago?

<5 18% $98,800'

9% More
5-14 25% $119,000'
73% About the same
15+ 34% $126,200

18% Less
No Answer 5% —
0% 1 % 20% 30% 40% 50% 60% 70% 80%

Average Length of Time with Firm

On average, general or corporate management
■
None 13% $99,500'
respondents have worked at their present
organization for more than 13 years. 1-4 25% $116,900

5+ 52% $135,800

3-4

5-9 <$10 Million $117,100

10 -14 <$100 Million $145,000'

15-19 >$100 Million $155,800'

31%
'Results may be statistically unstable because of low response rate.
5% 10% 15% 20% 25% 30% 35% Note: Percentages may not total 100%.

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

 Salary Survey 2009
larketing
Compensation Profile Job-Seeking Status
Twenty-five percent of marketing professionals Seventy-four percent of sales and marketing professionals work
make less than $86,000. However, 25% make at 50 or more hours per week.
least $150,400. A typical raise is 5.6%, and the
average bonus reported was $19,600.
10% Yes, actively looking

MEDIAN
SALARY $1 03 ,9 00 29% No, bu strongly considering a new job search

61% No, not considering a new jo search

MEDIAN TOTAL
COMPENSATION
$1 50,000 0% 10% 20% 30 % 40% 50% 60% 70%

Job Security Median Salaries

Seventy-nine percent of sales and marketing
professionals are satisfied or very satisfied with
their jobs.
Has your firm been involved in a merger or
acquisition in the last 12 months?
The typical marketing professional has worked in the field for 14
years and supervises 3 or more employees. Only 7% of respondents
supervise 10 or more employees.

32% Yes
Male 83% $114,900

66% No Female 17% $91,400

2% Don't know

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

How secure is your job compared with 12 months ago?

<5 23% $97,500

17% More
5-14 28% $97,900
60% About the same
15+ 50% $137,100
23% Less

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

Average Length of Time with Firm

The typical marketing professional has been None 25% $110,900
employed by his or her present organization for an
1-4 50% $100,000
average of 9 years.
5+ 24% $140,000

cl 3%

1-2 13%

3-4 17%

31% <$10 Million $100,000

5-9

<$100 Million $124,200

10 -14 18%

15 -19 >$100 Million $120,200

6%

20+ 12%
° Results may be statistically unstable because of low response rate.
0% 5% 10% 15% 20% 25% 30% 3 5 % Note: Percentages may not total 100%.

December 2009 • devicelink.com/mddi • MD&DI 47

PF
Compensation Profile Job-Seeking Status
The seventy-fifth percentile of product design Ninety-four percent of product design engineers have worked for only
engineers make $125,000, while the lower 25% 1 organization in the past 5 years.
make $70,000 or less. The typical bonus
reported was $14,400. The typical raise is 5.3%.
12% Yes, actively looking

M
$98,600 13% No, but strongly considering a new job search

p
SALARY

MEDIAN TOTAL
COMPENSATION
Si 20 5 0% 10% 20%
75% No, not considering a new job search

30% 40% 50% 60% 70% 80%

Job Security Median Salaries

Nearly80% of respondents are satisfied or very
satisfied with their current position.
Has your firm been involved in a merger or
acquisition in the last 12 months?
The typical product design engineer supervises 3 employees. Forty-four
percent of the respondents do not supervise any employees, and 14%
supervise 1-2.

Male 94% $ 100, 0 00

Female 6% $63,300'

1% Ion't know

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

How secure is your job compared with 12 months ago?

% More <5 21% $71,900

5-14 37% $86,500

15+ 40% $118,000

0% 11% 20% 30% 40% 50% 60% 70% 80%

Average Length of Time with Firm

Typica respondents have more than 8 years of None 44% $82,000
experieince at their firm, and nearly 14 years in the
field. 1-4 23% $80,300

<1

1-2
• 2%

25%
5+ 32% $132,000

3-4 14%

5-9 24% <$10 Million $92,600

10 -14 20% <$100 Million $89,000'

15-19 ■ 6% >$100 Million $101,800

20+ 7%
'Results may be statistically unstable because of low response rate.
5% 10% 15% 20% 25% Note: Percentages may not total 100%.

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

 Salary Survey 2009

Compensation Profile Job-Seeking Status

Production and manufacturing employees in the
25th percentile make $74,000 or less. The highest
25% make $108,000 or more. Respondents saw a
4.7% raise on average.
Nearly 70% of production and manufacturing professionals have
worked for the same firm for at least 5 years.
3% Yes, actively looking

MEDIAN
SALARY $94,700 No, but strongly considering a new job search

74% No, not considering a new job search

MEDIAN TOTAL
COMPENSATION
$114,400 0% 10% 20% 30% 40% 50% 60% 70% 80% c_

i t:
Job Security Median Salaries
Sixty-seven percent of all respondents feel satisfied Seven percent of production and manufacturing professionals indicated
or very satisfied with their current position. that they supervise 20 or more employees.

Has your firm been involved in a merger or

acquisition in the last 12 months?

45% Yes
Male 80% $99,11..
53% No
Female 13% $87,800

0
0%
3% Don't know

10% 20% 30% 40% 50% 60%

No Answer 7% —

How secure is your job compared with 12 months ago? YEARS iN INDUSTRY

17% More <5 12% $79,400

5-14 29% $90,000

68% About the same
15+ 58% $100,600
25% Less

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

NUMBER OF EMPLOYEES SUPERVISED

Average Length of Time with Firm

The typical respondent has been in the production None 33% $81,000
and manufacturing field for more than 11 years.
1-4 17% $100 , 0 00

5+ 49% $99,000
4%

1-2 8%

3-4 13%

5-9 23% <$10 Million $100,000

10 -14 24% <$100 Million $97,900

15 -19 8% >$100 Million $90,000

20+ 18%
'Results may be statistically unstable because of low response rate.
0% 5% 10% 15% 20% 25% 30% Note: Percentages may not total 100%.

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

 Salary Survey 2009

Pr
Compensation Profile Job-Seeking Status
Twenty-five percent of respondents in QA/QC earn About 70% of respondents indicated that they are satisfied or very
less than $66,000. Those in the 75th percentile satisfied with their present job.
make more than $106,800. The average bonus is
$13,100, and the typical raise is 4.2%.
15% Yes, actively looking

M
SA LA RY $93,600 22% No, but strongly considering a new job search

MEDIAN TOTAL
COMPENSATION
$1 1 1 milli
0% 10% 20%
59% No, not considering a new job search

30% 40% 50% 60%

5
Job S curity Median Salaries
Fifty-t cc percent of QA/QC respondents have The typical QA/QC professional supervises 4 employees. More than
worke for 2 or more firms in the past 5 years. 40% of respondents do not supervise any employees.

Hat your firm been involved in a merger or

acquisition in the last 12 months?

40% Yes
Male 79% $87,200
54% No
Female 19% $102,700

% Don't know
No Answer 1% —

2° No Answer

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

How secure is your job compared with 12 months ago?

<5 13% $65,700'

5-14 32% $86,800

15+ 54% $104,200

67% About the same

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

None 41% $76,300

Aver ge Length of Time with Firm
Typic I respondents in QA/QC reported 1-4 21% $93,800
about 8 years with their organization.
5+ 38% $104,000

4%

23%

3- 17%

26% <$10 Million ■ $93,100

10 -14 13% <$100 Million $96,400

15 -1 >$100 Million $83,700

8%

20 9%
'Results may be statistically unstable because of low response rate.
5 1% 10% 15% 20% 25% 30% Note: Percentages may not total 100%.

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

 Salary Survey 2009

Compensation Profile Job-Seeking Status

The typical raise for regulatory and legal affairs
professionals is 4.6%; the average bonus is
$32,000. The lowest 25% earn less than $63,800,
while the highest 25% earn more than $147,400.
Two-thirds of regulatory and legal affairs professionals indicate
that they are very satisfied with their current job.
111111 9% Yes, actively looking

MEDIAN
SALARY 510 0 ,90 0 21% No, but strongly considering a new job search

70% No, not considering a new job search

MEDIAN TOTAL
COMPENSATION
$1 36 1 00 ,
0% 10% 20% 30% 40% 50% 60% 70% 80%

Job Security Median Salaries

Fifty-nine percent of respondents have worked at
the same firm for the past 5 years.
Has your firm been involved in a merger or
acquisition in the last 12 months?
The typical professional in this field supervises 3 employees. About
21% of the respondents supervise 1 employee, and 37% supervise
none.

34% Yes
Male 52% $122,700
60% No
Female 46% $95,200

5% Don't know No Answer 1% —

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

How secure is your job compared with 12 months ago?

Oil 8% More <5 15% $150,9003

5-14 26% $93,700

77% About the same
15+ 60% $118,000

OE 15% Less

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

Average Length of Time with Firm

The typical respondent has worked for the same None 37% $68,200
company for almost 11 years and has 17 years of
1-4 36% $129,000
experience in the field.
5+ 27% $148,500

<1 4%

1-2 10%

3-4 23%

5-9 <$10 Million $129,000'

18%

10-14 17% <$100 Million $90,100

15-19 9% >$100 Million $107,800

20+ 20%
'Results may be statistically unstable because of low response rate.
0% 5%
I 10% 15% 20% 25% 30% Note: Percentages may not total 100%.

December 2009 • devicetink.com/mddi • MD&DI 51

 PF
Compensation Profile Job-Seeking Status
R&D professionals in the 25th percentile earned Nearly 80% of respondents in this category say they are satisfied or
$75,000 or less, and total compensation for the same very satisfied with their job.
group was about $102,500. An average raise was
6.4%, and the average bonus was $17,100.
4% Yes, actively looking

MEDIAN
SALARY $100,000 27% No, but strongly considering a new job search

66% No, not considering a new job search

MEDIAN TOTAL
COMPENSATION $ 1 40 , 000 0% 10% 20% 30% 40% 50% 60% 70%

Job S curity Median Salaries

Of res ondents, 35% have been with the same
comp y for 10 or more years.
Has your firm been involved in a merger or
acquisition in the last 12 months?
The average R&D professional supervises 3 employees. More than
50% of the respondents do not supervise any employees, and 6%
supervise 20 or more.

45% Yes
Male 88% $ 108,000
50% No
Female 10% $79,300•
6% Don't know
No Answer 2% —

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

How s cure is your job compared with 12 months ago?

11% More <5 14% $73,300a

66% About the same 5-14 38% $98,000

15+ 45% $120,000

23% Less

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

C11111=111112111•1111111111•111111
Average Length of Time with Firm
Typic 1 respondents have worked at their firm None 57% $98,000
for 10 or more years. Nearly 59% of respondents
1-4 14% $124,500
have ore than 15 years of experience.
5+ 30% $ 14 1, 700

2%

1-2 14%

3-4 22%
<$10 Million $107,000
28%

<$100 Million $145,100'

10-14 11%

15-10 >$100 Million $97,800

11%

204 1 13%
a Results may be statistically unstable because of low response rate.
ok 5% 10% 15% 20% 25% 30% Note: Percentages may not total 100%.

i 52 MD&DI • devicelink.com/mddi • December 2009


Continued from page 45
because this is definitely where opportunities exist."
Walker says that many job candidates come from different
areas in the medical device market, but that doesn't stop them
from wanting in. He also sees job potential in the neurology
market. "Disciplines that remain strong are engineering and
research because these are the areas that lead to innovation
and differentiation. Obviously, once there is a market for
those products, sales in the next important piece."
"We're seeing some strength in the spine and orthopedic
areas—probably a lot to do with the aging population and
METHODOLOGY
The information presented in this article provides a
broad framework for approximating employee com-
pensation in the U.S. medical device industry, based on
MD&DI's salary survey for 2009. Most of the responses
analyzed are linear. Cross-tabulation is used to address
one variable, such as job function, and analyze it simul-
taneously with a second variable, such as number of
employees supervised. To account for the influence of ad-
ditional variables, multivariate analysis is used to examine
all variables simultaneously, account for their interde-
pendence, and identify those that have the highest degree
of predictive power. In any given year, some factors may
not help predict salary—usually because they correlate
strongly with other variables included in the model.
The survey sample of 1635 was selected in systematic,
stratified fashion by KMPS and Readex Research from
segments of MD&DI's domestic circulation in the cat-
egories of finished medical device manufacturers and/or
in vitro diagnostic manufacturers, representing 26,339
recipients at the time of sample selection.
Data were collected via mail survey from July 7 to
August 19, 2009. The survey was closed for tabulation
with 592 usable responses—a 36% response rate. As
with any research, the results should be interpreted with
the potential of nonresponse bias in mind. It is unknown
how those who responded to the survey may be different
from those who did not respond. In general, the higher
the response rate, the lower the probability of estimation
errors due to nonresponse and thus, the more stable the
results. The margin of error for percentages based on
smaller sample sizes will be larger.
The final results are based on the 485 individuals who in-
dicated that they are involved in the industry and work full
time in firms manufacturing finished medical devices and/
or in vitro diagnostics, representing approximately 21,000
MD&DI recipients. The margin of error for percentages
based on 485 usable responses is ±4.4% at the 95% con-
fidence level. That is, 95% of the time we can be confident
that percentages in the actual population would not vary by
more than this in either direciton. The margin of error for
percentages based on smaller sample sizes will be larger.
December 2009 • devicelink.com/mddi • MD&DI
Salary Survey 2009
the expected growth in the number of procedures," says
Brooks. "With the changes at FDA and healthcare insur-
ance environment overall, the value of really good clinical
data is ever more important than it has been in the past. So
the investment into [hiring for] good clinical studies seems
to be increasing. This is a high burnout space position due
to job pressure and high travel."
The Job Hunt
Mullings says that for the candidate in the medical device
space, the past 12 months have been the most challenging
to
he has seen in his 20 years in the executive search industry. ti
"The compression of opportunity across the board has ti
been at an all-time high," he says.
According to Mullings, manufacturing overheads were
under attack, sales forces were greatly reduced, R&D
initiatives were put on hold, and outside investors were
nowhere to be found. "There were no safe havens. The V4
big companies were shedding employees in large numbers.
Smaller companies were just holding on in a literal day-to-
day existence. For the first time in our experience, we saw
real A players being let go from companies at a rate that
was new to the device space."
Moreover, he says, the market continues to be flooded
with exceptionally skilled workers. "In the past, from a
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 Salary Survey 2009
search fir point of view, there was a stigma attached to
presentin unemployed candidates to a client. In fact, in
our 20 ye rs of search in the medical device space, we have
placed m be four unemployed candidates in the 3000-plus
searches at we have completed. In 2009, we placed four
in a singl month. This shows that really talented people
are out o work in large numbers and that companies are
hiring th
Brooks also sees some top talent in the job market, but
not all ca didates are, and it actually makes it harder for
the corn nies to find the right fit. "Companies are still
"T e big mistake is when job
se kers spend all their time
se ding their resume on ads
and little time working their
n -twork." —Roger Brooks
very chal enged to find the right people with the right skill
set. They may have to do a search and find someone who
is not ac vely looking," says Brooks.
Mullin s says his clients began hiring again after the first
quarter o 2009. The process, he says, has certainly been more
diligent: e relocation budgets for candidates have been cut
and each position has had to stand up to justification on
nearly e ry level. Searches for clinical, regulatory, R&D,
and inte ational positions have been leading the charge.
Positions or sales, manufacturing and operations, and down-
stream rketing have been on a much slower uptake.
Walke recommends that people create their own op-
portuniti s. What I'm telling them to do is to not say you
are cons king, but actually do it. That means setting up a
business nd getting back to work even if you intend for it
to be to porary."
Brook says that most people are sending their resume out
through lithe great online tools now available. But, he says,
there's a g problem with that if you're on the hiring side
and you ee 50 resumes. "A candidate's true worth may get
lost beca se the potential employer can see experience but is
not able o determine how well that person would perform
at their c mpany. The people that know how good you really
are are t people that have worked with you in the past. Job
seekers eed to connect with these people in a meaningful
fashion. sk those references to send your resume to people
they kno with a nice note of recommendation."
He ur es candidates to do more than just e-mail or call
such coil agues. Take them out to lunch or dinner. He notes
that if a andidate makes a quick phone call, that person
may not ave time to get their head around what the candi-
date is 1 king for as far as new employment. At lunch, the
focus is ore on what's going on with the person looking
for a jo For example, the contact may be able to ante up
some su gestions to help enhance the candidate's network.
54
"Get names from those people you know and respect, and
drop their names when you're calling other people. You
have to be a name dropper of the right people and get out
and take as many people to coffee as possible and don't rely
on the Internet to find your next job," Brooks says.
He says that you can see job ads on Linked In, which
can be helpful, but that 75-90% of high-level profession-
als get their next job from their network, and job seekers
should focus on their network. "The big mistake is when
job seekers spend all their time sending their resume on
ads and little time working their network. If a company is
hiring on Linked In, that would be the time to reach out to
somebody [at that company]."
He says the trick is to match your experience with other
companies or divisions you've worked with and with com-
panies that are going to see that company name and respect
it. "So use the brainpower of Linked In to study where
people are going and where they came from. You can look
at a company and say, 'they've been hiring people from
this company, and my company is really similar to that
company. Don't go out of the box. Follow the momentum
of the stream and get yourself into companies that respect
your experience," advises Brooks.
A Tough Road Ahead
Mullings describes the events of the past year as working
against this candidate market. "Hiring is definitely taking
place. We are as busy as ever," says Mullings. "The market
is full of talented candidates that are competing for posi-
tions as companies ramp back up in critical early-stage
technology development roles.
However, Mullings says that companies have not cut
salaries due to the supply-demand equation. Candidates
who in the past would only look at a minimum salary level
relative to where they thought they should be paid, have
come down in their expectations and secured positions at
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ARTICLE, GO TO
//online devicelink.com/mddi/job_market
a level and pay rate they may never have considered be-
fore. Now candidates who would only have looked at vice
president positions are considering director or manager po-
sitions in order to stay in the game. "That equation works
all the way down the hiring chain. That further floods the
market with competition. It doesn't drive down salaries,
but it does greatly increase the value the hiring company
gets for its dollar."
The result is that the device market continues to emerge
as a formidable survivor from this economic crisis. Mull-
ings points out that good companies have pivoted on their
strengths and shed their excess. "All in all, it was painful for
a large number of people. Pain always seems to bring clar-
ity though. Hiring is occurring in the early-stage upstream
technology roles, including design, development, clinical,
regulatory, and some upstream marketing roles." ■
MD&DI • devicelink.com/mddi • December 2009