Executive Search Firm News - Medical Device Executive Demand

Medical device executives in high demand

Supply, demand, and pricing are basic economic principles Medical Device Executives have become familiar with due to an industry-wide call for top talent.

“Device companies looking to expand operations are offering more lucrative packages in hopes of attracting the top workers,” advises Medical Device Link.

“There are a considerable number of jobs out there in middle to upper management. Our placements in the medical device industry are up 27 percent (compared with a year ago), and the salaries of those placed are up 11 percent.” says Ron Herzog, president of New York City’s FPC National.

“The offers are very strong. When highly qualified people want to make a move, they are doing very well from a salary and benefits standpoint, and their relocation costs are often being covered, too.” he said.

According to an industry survey, the growing demand for Medical Device Executives can be traced to several factors:

• Investment dollars are increasing
• Increased investments have led to more job creation
• Product development efforts are on the rise
• Private companies move to public arena
• Growth in regulatory, quality, clinical, and management tied to taking companies public
• More stringent FDA requirements, thus increasing demand of skilled employees at all levels

Joseph Mullings, president of the Mullings Group, notes that 2005 ended a better year than originally forecast.

“I saw venture money flowing more freely. I also saw acquisitions by larger device companies slow down a bit. Some were having ongoing integration issues. That allowed smaller companies to hang on longer, not sell out too early, and build sales and marketing forces. Before, when the IPO market wasn’t strong, they tended to sell out early. As soon as they had good clinical data, they put up a for sale sign.”

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