Compensation. And Beyond.
As usual, I’m very proud to present the Jacobs Management Group’s Annual Compensation Survey in this issue. In very uncertain times (and these are more uncertain than most), we all like to measure our performance, and this is done on several
levels. How are we doing compared to the colleagues immediately around us? How
is our advancement based on the expectations we have had? And, finally, what does
our career look like in the general context of the industry? We hope the snapshots in
our charts help provide some answers, at least for that last question.
As we mention in the article, there are many influences pulling in different direc-
tions: policy changes, transformative technologies, value-based pricing and how companies are institut-
ing patient-centric approaches. Still, we see growth both on the company and the compensation level.
Questions remain about the “why” of various vectors. Both sales and marketing position turnover was
even greater in 2017 than in 2016. Medical device reps are more highly rewarded than those in pharma
and bio. Sales and marketing force sizes continue to grow at a healthy pace. Why? The answers are com-
plex, due to many influences.
Perhaps the most concerning data are those around poor hiring decisions. There are many unfilled positions, and even where seats are occupied there are numerous mis-hires. This represents a major cost to
companies, both in direct financial terms and in lost opportunities and wasted time. The industry needs
to improve its reliance on the wisdom of recruitment experts.
An equally important factor is the “beyond” aspect of compensation. As you can see from another
article in our ongoing series, “Why I Work in Healthcare,” there is a lot that drives us beyond salary,
bonuses and benefits. The messages in these photos tell a powerful story. This is the area that continues
to inspire us, as we engage with people all over healthcare who truly devote a lot of passion and care to
the work we do.
And always, please keep the feedback coming. It all goes to making the magazine better for all of us.
Cari Kraft, Publisher
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