The average total cash compensation for most biotechnology executives fell this year, according to an annual survey by J. Robert Scott, a Boston-based executive search firm specializing in technology, and the Boston-based National High Technology Group of Coopers & Lybrand, an accounting and consulting firm.
The study found that in 1991, total average cash compensation was expected to decline from the 1990 figures among five of seven executive job categories--vice presidents of operations/manufacturing, research and development, sales and marketing, and regulatory affairs, plus chief financial officers--mostly because companies held salaries in check as the economy worsened and financing became more difficult to obtain.
The only exceptions to the compensation trend were among chief executives and vice presidents of business development, who benefited from larger bonuses in the absence of traditional pay hikes.
"Generally, the level of compensation stayed relatively flat, because the revenues are still not there," says J. Robert ...
