About the Study
RAPS’ biennial Scope of Practice & Compensation Survey of the Regulatory Profession is the largest, most comprehensive research initiative on the global regulatory profession. In response to the 2014 survey, more than 3,300 regulatory professionals around the world who are involved with healthcare and related products answered questions about their compensation, job responsibilities, professional and educational backgrounds and more.
The resulting report provides useful insight into the global regulatory profession, and its practitioners. The 2014 Scope of Practice & Compensation Report for the Regulatory Profession is helpful for regulatory professionals seeking to benchmark their places among colleagues, those looking to get into the profession, hiring managers and talent management professionals charged with attracting and retaining regulatory expertise, and the managers and colleagues who interact with regulatory professionals on cross-functional teams. See below for some highlights or download the report now.
Compensation and Factors Shaping Compensation
The regulatory profession continues to pay well, and salaries for regulatory professionals maintained a general upward trend. Regulatory professionals’ pay is affected most by several interdependent factors: job level, regulatory experience, highest-earned degree, total professional experience and whether they hold the Regulatory Affairs Certification (RAC) credential (US-based professionals with the RAC earn 10.6% more). The strongest factor affecting compensation is job level, as shown in the table below. For detailed salary tables by job level and other factors for professionals in the US, EU and other regions, see the full report.
Regulatory and Other Professional Experience
Closely related to job level are regulatory experience and total professional experience. More than 90% of regulatory professionals began working in another field before transitioning into regulatory; 75% worked in fields closely related to regulatory. Generally, the ratio of total professional experience to regulatory experience is nearly 2 to 1.
Nearly all professionals (99%) have university degrees, and 69% pursued postgraduate studies. More than 40% hold master’s degrees and 20% have doctorates. Most regulatory professionals (94%) hold degrees in the sciences, a clinical discipline or engineering. Degrees or certificates in regulatory affairs or regulatory science are becoming more common.
» Download your copy of the 2014 Scope of Practice & Compensation Report for the Regulatory Profession