The saying that knowledge is power couldn’t be more true for clinical research associates or CRA’s. With this kind of profession, people are paid to help gather data. The amount of knowledge that is provided to companies can be commensurate to the pay received. It is no secret that being a CRA can be a lucrative profession. The better question is what exactly is the salary of a clinical research associate?
Earnings about to rise?
Over the past few years, demand for CRA’s has increased, pulling up the compensation for this profession. On average the salary for CRA’s in North America is higher by 5% compared to all other jobs. According to a study done in 2010 by CNNMoney, this job was ranked as the 57th best job out of 100 in the United States and was considered to be among the best paying careers in the country.
The standard yearly pay for this profession is about $60,000.00 to $68,000.00 for those who have average experience. At entry level, professionals with 0-3 years experience stand to make less, but still within a very competitive range with about $40, 000.00 to $46,000.000 annually. Those who have more than 3 years experience and are tenured as CRA’s can make as much as $70, 000.00 or more per year. For those who prefer to work as freelance may average about $75, 000.00 or more each year.
Benefits and bonuses
Aside from this competitive salary, there are other non-monetary benefits that can be considered as part of compensation for being a clinical research associate. These may include company cars, allowances, insurance, travel expenses for field work and even housing. On top of it all, bonuses may also be given out. Of course, these may not be standard and will differ from company to company and their policies.
Median annual salaries for clinical research associates in the US
- CRA I 59,200$ according to salary.com
- CRA II 73,732$ according to salary.com
- CRA III 90,895$ according to salary.com