Is Working Remotely the New Standard for the Medical Device Industry?

When the pandemic hit many companies were faced with the ultimate question. How do we continue our business processes?

In a sense, how do we return to work? Remote work and hybrid work became a definite option, especially in the medical device industry.

To come up with results, MD+DI analyzed the data in its Salary Survey to reveal the overall median salary for medical device and diagnostics industry professionals as well as the median salaries for those professionals in research and development, product design engineering, management, quality control, regulatory affairs, and production. Results are also broken down by gender, experience, company size, and number of employees supervised.

Here's what we found regarding remote vs. in-office work.

Nearly 50% of respondents in a salary survey conducted by MD+DI work fully remotely. This compares to the 40% that work in a hybrid situation and the 10% that work in the office full time. The salary survey had 226 usable responses.

The median salary for remote workers in the industry is $142,000 and the median raise in pay for remote workers was about 4% according to the salary survey. The median age of employees engaging in remote work is 49.

This compares to the median salary of $135,000 that hybrid workers make. These employees who work from home and in the office also have a median 4% raise in pay and have a median age of 42.

Related:Are Medical Device Professionals Happy with Their Salaries?

On average remote workers make about $21,000 more than those who work in the office full-time. This isn’t far off from a report from Forbes that shows remote workers across the industry earn an average of $19,000 more than in-office workers.

The average age for in-office workers is 45.5, according to data compiled from MD+DI’s Salary Survey.

A further breakdown of data compiled during MD+DI’s Salary Survey shows that men who work remotely only have a median salary of $151,000. That compares to women remote workers who have a median salary of about $126,880.

Remote employees work an average of 41.5 hours a week compared to in-office employees who work an average of 43 hours a week. Employees working under a hybrid model also clock in about 43 hours a week.