Compensation and Hiring Trends
Presented by Brian Cole
Managing Partner/Practice Leader, Medical Devices
Kaye/Bassman International, Corp.
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Kaye/Bassman International Corp.
Established in 1981 in Dallas, Texas
Largest single-site search firm in
11th largest Retained Search Firm in
Largest training in the world -
Recruiting training division with over
1,000 clients in 30+ countries
Alliances: Sanford Rose Associates
65 office network
Philanthropic: Raised over $1MM
benefiting local Dallas charities since
Practice Leader, Medical Device practice
16 years Medical Device experience
Actively attend more than 10 Medical Device
Annually attend AdvaMed, JP Morgan
Healthcare Conference, Frost & Sullivan,
Piper Jaffray Healthcare Conference,
Mentor and Train both other search
consultants as well as assist clients on “best
practices” as it relates to recruiting, and talent
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Biggest Challenges to
Medical Device Industry
Med Device tax
The Great Recession
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How do Medical Device
Executives feel about 2014
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Medical Device Outlook
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According to MD&DI, salaries up 5% in 2013.
We are seeing professionals getting 3-4% raises.
We are seeing 7-8% increase in salaries when hired. We are very rarely seeing
much over 10%.
The bonus percent eligible remains the same, but professionals are obtaining
more of their bonuses.
We are not seeing significant changes in other compensation including 401k,
health, dental, options, pension, time off.
Sign-on bonuses have been mostly non-existent since the recession.
We expect that companies will utilize sign-on bonuses as the war on talent
heats up again.
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Entry level – we do not work at this level, but sources tell us that the number of
entry level professionals remains constant.
Experienced – this is where most of the demand and this will continue to get
Management – we continue to see an increase in Manager and Director
positions open allowing for career growth.
Executive – continues to be tight as the number of companies declined for the
past several years. This will ease very slowly as new companies form.
Regulatory – continues to be in high demand with no end in sight.
Quality – will continue to be in high demand until 483 & warning letters subside.
We expect reasonable turnover as companies throw bodies to address the
issues and downsize after issues are resolved.
Manufacturing – will expect will be steady, but not high demand as companies
continue to offshore and outsource.
R&D – we expect to steadily increase as companies begin investing again in
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What we are seeing
Companies will continue to reduce expenses in order to adjust for challenges.
M&A will continue and redundant positions will be eliminated.
We are seeing Sales positions affected the most.
Other than from M&A, we anticipate the majority of the layoffs are over.
Organic growth was up around 4% in 2013, expected to continue at 4% in 2014
According to MD&DI survey, FTEs were up 13.2% in 2013
Funding improving in dollars
We are seeing Round A funded companies again
There is a lot of money on the sidelines that will have to be invested and the
Medical Device industry continues to be the 4th most funded industry
Our sources suggest that the FDA is feeling the strong pushback and becoming
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We continue to see job satisfaction down
Professionals are being much more cautious about changing jobs
The bay area is finally rebounding as startups are getting
Boston continues to have solid hiring
Minneapolis continues to be mostly stagnant because of CRM
With the recent mega merger announcement with
Zimmer/Biomet, Warsaw will certainly suffer job losses in
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Practice Leader, Medical Devices
972.961.4772 - direct
972.922.5663 – mobile
Kaye/Bassman International Corp.
19111 North Dallas Parkway | Suite 200
Dallas, Texas 75287
972.931.5242 | www.kbic.com