Salary surge

Pandemic drives up pay in fast-growth MedTech sector

BioCity

Medical technology is in demand

One of the fastest-growing segments of the economy is now rewarding its top staff with some of the biggest leaps in salary, according to one agency.

Pay packages for senior positions in the medical diagnostics industry have risen significantly since the start of the Covid pandemic.

Some are now double what they were five years ago, says Ivor Campbell, chief executive of recruitment consultancy Snedden Campbell.

Board level executives with technical, scientific, or engineering qualifications now routinely command salaries around £150,000-a-year.

Experienced engineers involved in research and development and transfers to production are regularly employed on salaries of £120,000.

The sudden expansion of the UK medical technology industry, particularly in the field of infectious disease diagnostics, in the past 12 months has led to companies offering significantly higher wages to attract the best people, according to Mr Campbell.

He said Government investment in Covid-related research and the higher public profile enjoyed by the diagnostics industry has seen the launch of several new specialist firms as well as established companies expanding their activities and product ranges.

“The Government has thrown hundreds of millions of pounds at diagnostics in the UK and that has had various knock-on effects,” he said.

“What we are seeing is a confident sector, whether it has anything to do with Covid or not, hiring more people, looking at hiring people and increasing their product ranges.

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