Medical device company trends: Medtech workers paid better than peers, according to Feds

April 5, 2013 by MassDevice staff

Newly released figures from the Bureau of Labor & Statistics show that medical device company employees are higher paid than their counterparts in other industries, especially at the highest levels.

holding an armful of cash, illustration

Workers in the Medical device industry earn, in general, higher salaries than their counterparts across American business, according figures recently released by the Federal Bureau of Labor & Statistics.

The good news for medtech starts at the top, where executives and top line managers earn an annual mean salary of $139,620, about 21% higher than their counterparts in business who earn $114,850 on average.

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CEOs in the medical device industry in particular are demanding higher pay than their peers, pulling in $205,620 in annual salary, about 16% more than the $176,840 mean salary of CEOs across all industries, according to the Feds.

It's nice work if you can get it, but the news is slightly less rosy for the "Average Joe" medtech worker. Medical device industry employees, in general, earn $49,600, about 8.5% more than the average U.S. worker's $45,790 paycheck, according to the BLS.

Those salaries pale in comparison to workers in the financial, oil and software industries which boast annual mean salaries of $91,000 and higher.

The salary data from the Occupational Employment Statistics or (OES) program is collected through a semi-annual mail survey of 200,000 establishments, conducted every 6 months over the period of 3 years.

The newly released 2012 results represent information collected in surveys starting in 2010, according to the U.S. Department of Labor.

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