Compensation is always tricky to determine, both as a professional and for organisations. Across all markets, individuals and businesses regularly ask for the very latest compensation trends to benchmark and identify where they stand in the market. We have surveyed over 400 life sciences professionals across APAC, and the results are insightful.
Australia
Australia's life sciences sector has been a long success story for its economy - employing over 240,000 people and accounting for AUD 3 billion in exports each year. The ASX-listed Australian life sciences sector is worth AUD 100 billion and comprises about 100 companies. With world-leading medical and scientific research bases, excellent institutions, a growing biotech sector, as well as an adaptive healthcare system, government initiatives and strong workforce, Australia's life sciences market is remaining on track for huge potential growth.
The majority of life sciences professionals in Australia have received a 0-5 per cent salary yearly increment in 2021. However, with a small talent pool, we are seeing companies willing to offer up to a 20 per cent salary increase to candidates to move on from their existing employers. Especially with the scarcity of talent, more counteroffers are given by existing companies to limit leavers.
Most of the life sciences talent in Australia are comfortable with where they are and will only move if the opportunity is attractive enough. The advice to life sciences professionals is to keep an eye on the market trends and to understand the market average rate. To hiring managers, it is highly recommended to work closely with your talent partner to make sure your offer is attractive to the right people and competitive enough for your preferred candidate, not only so you can hire in a timely manner, but so you can avoid counter offers which are increasingly happening.
Hong Kong
Denne historien er fra July 2022-utgaven av BioSpectrum Asia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2022-utgaven av BioSpectrum Asia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"We are dedicated to helping people of all ages see brilliantly"
The global leader in eye care for over 75 years, Alcon Inc. strives to help eye care professionals strengthen their practices and serve patients better, improving visual health worldwide. Through its innovative eye care portfolios, Alcon has established operations in 56 countries and serves patients in 140 countries. Jason Hoffe, Vice President, APAC Vision Care, Alcon, responsible for driving the vision care business in the region shares opportunities exist for the company and new developments in eye healthcare that are cause for optimism for patients in the region.
Singapore Turns Tech Beacon with Revolutionary Pharma Manufacturing & Digital Transformation
In the current pharmaceutical manufacturing environment, linking information technology (IT) with operational technology (OT) systems is increasingly vital. This integration enables a seamless exchange of information between these two historically separate domains - one focused on data management and the other on overseeing physical operations. This enables various aspects of the manufacturing process to gain insights from one another to boost efficiency and refine strategic decision-making. Digital transformation is essential for directing companies through the complexities of implementation and ensuring a seamless shift to a data-driven, digitally optimized manufacturing landscape.
Building the Future of Medicine
PRODUCT OF THE YEAR 2024 - Needle Free Injection System technology by IntegriMedical
Emerging Leader in Cell & Gene Therapy
STARTUP OF THE YEAR 2024 - ImmunoACT
Improving Access for Respiratory Healthcare
STARTUP OF THE YEAR 2024 - Aevice Health
Making an Impact with a 'CliKX'
Dr Lynne Lim, Co-Founder & Chief Executive Officer, NousQ
Eyeing 20-20 Vision of Excellence
Dr Jogin Desai, Co-Founder & Chief Executive Officer, Eyestem Research
Refining the Use of Radiation
Dr Christian Behrenbruch, Managing Director and Group Chief Executive Officer (CEO), Telix Pharmaceuticals
Honouring Innovators in Asia's Thriving Life Sciences Sector
Asia has, indeed, become the new hub for growth and innovation, with no signs of losing steam. To recognise the Asian companies and individuals for their commendable performance and achievements during 2023 and 2024, BioSpectrum Asia Excellence Awards 2024 ceremony was held at Hotel Fort Canning in Singapore on December 6, 2024.
How To Control Indian Diabetes Growth
World Diabetes Day, observed on November 14, reminds us of the growing impact of diabetes on global health and the urgent need for collective action to prevent, diagnose, and manage this chronic condition. In 2024, the theme 'Breaking Barriers, Bridging Gaps' underscores the critical importance of accessible, high-quality diabetes care, especially for underrepresented communities. The Government of India has taken many measures intending to reduce the prevalence of diabetes and alleviate its long-term complications, contributing to a healthier future for all citizens.
