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A recent AAPS Salary Survey shows a rising trend in compensation for pharmaceutical scientists since 2022.
The American Association of Pharmaceutical Scientists (AAPS) announced results on Oct. 30, 2023 from its 2023 Salary Survey, which showed that salaries for those employed in the pharmaceutical sciences within the United States saw a compensation increase of 6.7% since 2022.
AAPS specified in a press release that the mean annual base salary earned by those employed full-time in the US as of June 1, 2023, was $190,100. Data from the US Bureau of Labor Statistics, in comparison, shows that compensation rose 4.5% across all industries from June 2022 to June 2023.
“It is refreshing to see that salaries continue to rise in pharmaceutical science despite a challenging year in the biotech sector,” said 2023 AAPS President Patrick J. Sinko, in the press release. “Pharmaceutical science is resilient in the face of layoffs, picked up M&A [merger and acquisition] activity, and reduced venture funding. While we are all facing this disruption, the industry still needs scientists to advance the capacity of pharmaceutical scientists to develop products and therapies that improve global health, which is also AAPS’ mission.”
According to the organization, the AAPS Salary Survey is the only survey that exclusively tracks compensation data within the pharmaceutical science sector. The organization surveys its membership each year about salary and compensation information and collects demographic data. The survey collects base salary information and supplemental income, including bonuses, summer-time work, grants, summer teaching, and others. The survey also collects information about income from other professional work, such as consulting, and salaries outside the US. The data are broken down by education level, years of experience, and career field (industry or academia).