The increases also reflected additional funds raised in stock offerings. These helped pay for new or expanded research projects, many of which necessitated hiring more staff, often at higher salaries, according to J. Robert Scott, a Boston-based consulting firm that conducted the survey.
Among the findings was that average base pay for research and devleopment vice presidents last year rose 15 percent over the 1990 level to $104,000. The survey also found that 29 percent of technical middle managers earned base salaries above $70,000, compared with 12 percent in 1990.
The results underscore biotech's ability to withstand the recession and layoffs, although not all personnel were immune to the economic downturn. "There are a lot more scientists on the market from companies that downsized," says Graham Litgard, vice president of research and development for Matritech Inc. in Cambridge, Mass.
"And [economic conditions have] tended to keep the middle- to higher-level ...
