The Burrill Report (December 10, 2009): Life Science Execs Enjoy Rising Pay Despite Economic Downturn (.MP3,9.72 Mb)

Top executives at technology companies saw their 2009 total cash compensation drop slightly, but comparable executives at life sciences firms experienced an average increase of 3.5 percent, according to a study of private businesses from the executive search firm J. Robert Scott and Ernst & Young.  It was the first time in the ten year history of the study that tech executives saw a drop in cash compensation. CEOs at the more than 200 emerging, private life sciences firms surveyed received an average base salary of $273,000, up 3.2 percent from 2008. CEOs at these life sciences firms, however, received average bonuses of $48,000 in 2008 or 44 percent of their target bonus, down from 73 percent in 2007. We spoke to Erik Lundh, managing director of J. Robert Scott, about the findings in the report, why life science executives were better insulated from the economic downturn than their high-tech counterparts and what pressures companies may feel to retain talent as the economy turns.