How do the salaries of workers in the medical device industry measure against their counterparts in other industries? According to figures newly released by the Bureau of Labor & Statistics, they are doing well, particularly at the highest levels.
Medtech Workers Higher Paid Than Industry Mean
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Workers in the medical device industry sector earn, in general, higher salaries than do their counterparts across America business. This starts at the top where medtech executives and the top line managers earn an annual mean salary of $139, 620, a paycheck that is about 21% higher than the ones earned by their fellow workers in business. They take home a mean annual wage of $114, 850.
The CEOs in the medical device industry are demanding (and getting) higher pay than are their peers. The report states that they pull in $205, 620 in annual salary, which is 16% more than the $176, 840, mean salary of the CEOs across all other industries, according to Mass Device publication which reported the bureau’s figures.
For the average worker in the medical device industry, the news is also encouraging. Medical device industry employees, in general, earn $49, 600 which is about 8.5% more than the average U.S. worker takes home in his $45, 790 annual paycheck. It is when medical device industry workers’ wages are compared to those in the financial, oil and software industries that the view darkens. Annual mean salaries in these industries are $91, 000 and higher according to the labor statistics bureau.
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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