Understanding your rights to severance pay and how to advocate for yourself can ease the transition between jobs and protect your financial stability. If the idea of obtaining a severance package as a result of a layoff is unfamiliar, you’re not alone. Many professionals don’t realize they may be eligible or how to negotiate favorable terms. Here’s what you need to know.

What Is a Severance Package?

Severance pay is compensation provided by an employer when an employment relationship ends. Usually it is most commonly due to layoffs, workforce reductions, although it can be due to a mutual agreement. While usually given as a lump sum or continuation of salary for a set period, severance may also include extended health benefits, job placement assistance, or other perks to support your transition.

The amount of severance pay can be outlined in your employment contract or determined by factors such as:

• • Length of service

  • Position or hierarchy within the organization

  • Company policy or practice

  • Circumstances surrounding your departure

Remember, unless severance terms are specified in your contract, details are generally negotiable.

Am I Eligible for Severance?

Severance pay eligibility depends on various elements:

• • Many employers offer severance pay to W-2 employees impacted by company-wide layoffs, particularly when proper notice is not provided as required by the WARN Act (for larger layoffs).

  • Employees who retire early, accept voluntary separation packages, or have contracts explicitly promising severance may also qualify.

  • Typically, employees terminated “for cause” (such as for serious policy violations) are not eligible for a severance package.

  • Some companies choose to offer severance even if not required, aiming to foster goodwill or minimize the risk of legal claims after employment ends.

If you’re unsure about your eligibility or believe an employer is limiting your legal rights in exchange for severance pay, consult with a qualified attorney before signing any agreement.

How to Ask for Severance Pay

Approaching the conversation about severance pay can feel daunting, but preparation is key. Follow these steps:

• • Review your employment contract and company policies to identify any severance-related provisions.

  • Document your contributions and tenure to strengthen your case for a fair severance package.

  • Initiate a calm, professional conversation with HR or your manager. It is best to do this in writing or during a scheduled meeting.

  • Ask directly: “Is the company offering severance as part of this separation process?” Express appreciation for your time at the company, and state your interest in an amicable transition.

  • Negotiate terms: If an offer is made, don’t accept immediately. Review the package carefully. Consider asking for an increased payout, continued benefits, or extended support based on your experience and the circumstances.

  • Get any agreements in writing, and avoid signing before you fully understand the terms.

Remaining professional and open while advocating for yourself is essential. Most employers expect severance discussions—handling them professionally won’t burn bridges.

Finding an Attorney for Severance Pay Issues

If you encounter complex severance pay terms or feel pressured to sign away important rights, legal counsel can help. Look for attorneys who:

• • Specialize in employment law or severance negotiations.

  • Offer transparent consultation fees and references.

  • Have experience representing employees in your industry.

Start your search with reputable legal directories or state bar associations. Consulting an expert ensures your severance agreement protects your interests now and in the long term.

Final Thoughts

If you believe you qualify for severance pay, don’t hesitate to ask. Many companies plan for this cost but only provide severance pay to those who request it. Understanding your options can turn a challenging moment into a bridge to your next role.

Have questions or need guidance? Reach out to our team—we are here to support you.

The post How to Ask for Severance Pay appeared first on craresources.

Welcome to today’s roundtable, where we dive into the complex and essential topic of fair compensation. More than just a salary figure, fair compensation sits at the heart of every career decision and organizational strategy. Are you exploring a new opportunity? Seeking a career progression or promotion? Considering a lateral move for improved work-life balance or a cultural change? In all cases, understanding what constitutes competitive compensation is crucial to every professional and hiring manager.

Both Candidates and Hiring Managers are Confused

In recent conversations with both candidates and hiring teams, a recurring theme has emerged. There is often confusion about what fair and competitive compensation really means. The market shifts rapidly. What was considered fair six months ago may not hold true today. Therefore, basing career and hiring choices on outdated benchmarks can lead to job dissatisfaction, decreased morale, or even attrition.

Why Clarity is Important

Research and recent reports strongly support the statement that employees who feel undervalued or underpaid are significantly more likely to seek opportunities elsewhere.

The net: companies neglecting fair compensation risk losing both existing talent and new hires. For example, according to Payscale’s 2025 Fair Pay Impact Report, employees who believe they are paid unfairly are 45% more likely to look for a new job, regardless of their actual compensation. Additionally, nearly one-third of organizations identified unfair pay as the primary reason for losing talent, underscoring how pay inequity drives turnover.

Alternatively, studies have also shown that fair, competitive pay not only increases retention rates but also helps attract high-performing talent. This means employees are less likely to stay at companies where they feel underappreciated or where pay practices are not transparent and equitable.

Are You Receiving Fair Compensation?

During this episode, we will explore what fair compensation is for both consultants and permanent employees. We discuss why it matters, when it doesn’t matter, how to benchmark it for your specific role, and how to transparently discuss expectations with hiring teams.

Our team shares practical tips for researching market rates. We also outline how to approach uncomfortable salary conversations. If you are wondering when to bring up compensation, how to ensure your rate reflects your value, or how to avoid common pitfalls in negotiation, you are in the right place.

Join us as we dissect the concept of fair compensation and empower you to navigate your next career conversation with confidence and knowledge.

Listen to Secrets of a CRA Recruiter on Your Favorite Channel! 

The post Roundtable: Are You Receiving Fair Compensation? appeared first on craresources.

Her response to my question was simple: “With my experience, I expect a competitive hourly rate”. I agreed with her. But what she wasn’t telling me was her opinion of a competitive hourly rate. I asked her to provide some additional details, and she appeared unsure about the competitive compensation for that particular role. 

Unfortunately, it has been my experience that many candidates aren’t always sure what rate or salary to ask for. Additionally, many hiring managers are also at a loss when it comes to offering a competitive salary or rate. 

Landing a new role isn’t just about the position’s title and job function. It is also about making sure you are financially and professionally valued. Although conversations around pay are typically uncomfortable, understanding and effectively negotiating for competitive compensation is important to your long-term satisfaction and success in any new role. 

This guide is tailored for candidates who want to ensure their compensation package truly reflects their market value. 

What Is Competitive Compensation?

Competitive compensation is typically an hourly rate for consultants, aligning with similarly skilled professionals in the industry and region. However, for permanent employees, compensation isn’t solely based on the paycheck. It extends to a complete benefits package which includes salary, bonuses, health and retirement plans, flexible work options, and paid time off.

Why Competitive Compensation Matters to You

Financial Security and Stability

Jobs offering competitive compensation typically yield greater job satisfaction because you feel recognized for your work and can support your lifestyle.

Career Growth and Motivation

Inadequate pay can be demoralizing and often leads to disengagement or job-hopping. Alternatively, when you are properly compensated, you are more likely to be motivated and productive, thus setting the stage for professional development and advancement. 

Retention and Long-term Satisfaction

Companies with below-average compensation experience high turnover…a reality that we, as a recruiting company, observe and capitalize on. Conversely, competitive compensation attracts and retains top talent. For you, as the job seeker, this means you should focus your job search on those companies that offer competitive compensation because you will be more likely to stay long-term and experience internal growth within the company.

Work-Life Balance

In the modern workplace, how you are paid is as important as what you are paid. Flexible hours, remote work options, increased vacation, and wellness perks are strongly linked to morale and well-being. Thus, they are now essential parts of competitive compensation.

How to Evaluate If an Offer Is Truly Competitive

Pull the Market Data

Use salary comparison sites and government labor resources to research industry standards. You can easily find average pay ranges for your position, location, and level of experience. Top resources include:

• • Bureau of Labor Statistics
  • Glassdoor
  • PayScale
  • Indeed
  • Salary.com
  • PayLab
  • SalaryExpert

You can also compare to similar roles. Use recent job postings and aggregate data to see what the going rate is for similar positions. And don’t forget to factor in your specific skills, years of experience, degrees, and certifications.

Assess the Total Package

Competitive compensation isn’t just salary. Review and map out:

• • Base pay
  • Bonuses and commissions
  • Health, dental, and vision insurance
  • Retirement plans and matching contributions
  • Flexible work arrangements (remote/hybrid/four-day weeks)
  • Paid time off: holidays, vacation, sick leave
  • Other perks such as tuition reimbursement, wellness stipends, stock options, and professional development

Tip: Sometimes, a slightly lower salary is offset by more generous benefits or greater flexibility. Consider the full picture.

Evaluate Employer Reputation

Research employer reviews to gauge how current and former employees rate the company’s pay practices and culture. Glassdoor and Indeed reviews are two excellent sources.

You should also consider the company’s approach to the compensation discussion. Were they transparent with you? Is it clear they have a strong commitment to pay transparency and fair pay for all employees?

Factor in Location

Salary competitiveness is highly affected by geography. Cost-of-living adjustments can make a big difference, so do your homework and adjust your expectations and demands accordingly. Payscale offers an excellent cost-of-living calculator, but a quick Google search will reveal similar tools, and it doesn’t hurt to check across multiple calculators. 

Benchmark Yourself

Use the tools above to figure out where you stand relative to the market based on your unique skills, certifications, and achievements. Are you a top performer? Do you have in-demand or rare skills? If so, leverage these qualifications to negotiate above the market average.

How to Benchmark Your Compensation

Here is a simple framework you can follow:

1. 1. Title and Requirements: Accurately define your role, required experience, and skills.
   2. Market Salary Research: Plug your title and location into tools like Glassdoor, PayScale, and the Bureau of Labor Statistics.
   3. Adjust for Skills and Certifications: Add value for unique skills and certifications that differentiate you from others.
   4. Benefits and Perks: Evaluate all non-salary benefits and balance them against salary offers.
   5. Negotiate Holistically: Be ready to make a case for why your skills can command premium pay.

Recommended resources:

Leveraging Competitive Compensation in Negotiation

When to Talk Numbers

I recommend you ask the hourly or salary range prior to engaging with a company. After all, if the salary is exceptionally low, do you want to waste your time? 

When it comes to when you should reveal your compensation requirements, always be prepared to answer the direct question. Meaning, when someone asks what your compensation requirements are, be ready to provide a clear and direct answer. However, if not asked, I recommend you abstain from the discussion until you know the employer is serious.

And always be prepared to back your expectations with market data.

Tips for Candidates

• • Have a range: Structure your range on real data; don’t just state a single number.
  • Explain your reasoning: Use your research to justify your ask, referencing industry averages and your added value.
  • Don’t forget perks: If the salary can’t go higher, consider negotiating for more flexibility, additional PTO, education budgets, or relocation assistance.

Don’t Forget The Role of Work-Life Balance

Remember that today’s competitive compensation is about much more than pay. Consider other perks that may mean as much (or more) than the money, such as: 

• • Remote and hybrid work: Jobs with flexible location policies attract up to three times as many applicants as office-only jobs.
  • Four-day workweeks: When feasible, these arrangements can boost productivity and reduce stress. Some companies have measured up to a 40% increase in output after implementing a four-day workweek policy. 
  • Work-life balance: Candidates increasingly prioritize roles that make it easier to manage personal and professional commitments.

Ask yourself:

• • Does the employer value results over long hours?
  • Is there transparency around work-life perks and benefits?
  • Are there demonstrated policies that support real balance…not just promises?

How to Spot a Truly Competitive Compensation Offer

Common Pitfalls and How to Avoid Them

Here are a few pitfalls we consistently see. 

• • Accepting low pay for a “great opportunity”:  Don’t let excitement about the company or position cause you to accept below-market pay. Future negotiation power will diminish. Unfortunately, this means your job satisfaction is likely to decrease if you start from below-market compensation.
  • Overlooking benefits: A mediocre salary with exceptional benefits may actually carry better lifetime value.
  • Skimming on research: You must use recent, credible sources. Salary data changes quickly due to inflation, labor trends, and market shifts.
  • Ignoring your worth: Don’t just accept the first offer. Use your unique skills and experience as leverage. And, if you don’t feel comfortable negotiating your compensation, engage a recruiter to do it for you.

Final Thoughts

Securing competitive compensation isn’t just about advocating for yourself. It is about ensuring you start your next job with satisfaction, motivation, and the chance to excel. Use real data, check the full value of your total package, and never hesitate to ask questions or negotiate. Employers expect you to do your homework, and the companies worth working for will respect your diligence and professionalism.

For more detailed guidance, consult resources like the Bureau of Labor Statistics, PayScale, Glassdoor, Indeed, and Salary.com to benchmark your compensation at every stage of your career journey. You can also reach out to us or join our Career Coach and Job Search community. 

The post How to Secure Competitive Compensation appeared first on craresources.

Welcome to today’s podcast episode. We team up with one of our favorite guests, Lyle Gee, to discuss how to plan for unplanned downtime. This podcast is dedicated to all consultants who face the unique challenge of balancing work opportunities with financial stability. For consultants, the reality is clear: if there is no work, there is no pay.

But what happens when you cannot find a new assignment, or when a personal or medical emergency leaves you unable to work? These situations can arise unexpectedly and have a significant impact on your livelihood.

In this episode, we will explore practical strategies to help you prepare for periods of no work. We will discuss how to build a financial safety net, develop a proactive plan for downtime, and ensure that you can weather the uncertainties that come with consulting. Whether you are navigating a slow job market or coping with unforeseen personal events, this episode will provide you with the tools and insights you need to plan for unplanned downtime and maintain your peace of mind.

Listen to Secrets of a CRA Recruiter on Your Favorite Channel! 

The post Podcast: No Work? Planning for Unplanned Downtime appeared first on craresources.

What Is a Counter Offer?

In the world of career moves, a counter offer is when your current employer tries to persuade you to stay after you’ve announced your resignation, often by offering a raise, promotion, or new perks. While it can feel flattering, it’s important to consider what is really motivating this gesture.

The Unhappily Employed

Most of us have been there. Early in my career, I worked as a CAD specialist in North Carolina. At first, I found the job interesting, but after a while, it became repetitive and unfulfilling. I wanted more, but I remembered my dad’s advice: “Always have a new job lined up before you leave.”

There are many reasons people look for new jobs while still employed: boredom, lack of growth, or simply wanting a change. If you are job hunting while employed, you know how challenging it can be.

Clarifying Your Reasons for Leaving

Leaving a job is rarely easy. My advice? Make a list of what you love and dislike about your current role. This “love/hate” list will help you:

• Confirm whether leaving is the right choice.

• Define what you want in your next position before you start the job search.

The Counter Offer Dilemma

You’ve accepted a new job and are ready to move on. But when you submit your resignation, your boss surprises you with a counter offer. Now what?

The Allure of the Counter Offer

Most people don’t leave solely for money. They leave because they feel undervalued or see no path for advancement. Deciding to quit is an emotional task because most individuals are simply looking for appreciation.

This is why counter offers can be quite seductive because they can feel like overdue recognition, but in my 20+ years as a recruiter, I have seen that most people who accept counter offers eventually regret it. Here is why:

The Real Issues Remain

Think back to your love/hate list. Why are you only now being offered a raise or promotion when it wasn’t an option 30 minutes ago?  Did you know that, according to Gallup, the average cost of replacing an individual employee is conservatively estimated to be 150% of their annual salary?

Therefore, isn’t it fair to believe that the counter offer is usually related to management trying to avoid the cost and hassle of replacing you rather than truly addressing your needs? And, if your reasons for leaving go beyond compensation, a counter offer likely won’t fix the root issues.

Your Loyalty Is in Question

Once you’ve announced your intention to leave, your employer may see you as a flight risk, even if you stay. Research shows that 70-80% of employees who accept counter offers leave or are let go within a year.

Company Maturity Matters

Mature, well-run companies rarely make counter offers. They already pay competitively, invest in career development, and regularly check in with employees about their satisfaction. If your company suddenly scrambles to keep you, it may be a sign of deeper issues.

How to Gracefully Decline a Counter Offer

While a small percentage of counter offers work out, it’s wise to weigh the risks. If you decide to decline the offer and move on, be gracious:

• Thank your employer for the offer.

• Clearly state your commitment to your new role.

• When the time is right, share your feedback about why you chose to leave; this can help your manager improve the workplace for others

Need Guidance?

Unsure about your next step? We help job seekers and employers navigate these situations every day. If you’d like confidential advice or support in finding the right fit, contact us.

You can also join our community and openly ask questions. We are here to help you make the best decision for your career.

The post Why You Should Decline a Counter Offer appeared first on craresources.

Before We Tell You How to Ask for a Raise…

Let’s talk about when to ask for a raise. When I first entered the workforce, it was typical for companies to offer annual increases. While many companies still support this practice, many have abandoned this methodology and only offer a salary increase under certain circumstances.  As you think about how to ask for a raise, you may want to consider the following as it relates to timing. These tips will better prepare you for your discussion.

Preparing To Ask For A Raise Starts Long Before You Feel You Deserve One

When you are hired, ask your supervisor about the criteria for advancement. You should also ask her what she believes you need to do to earn a pay increase. During this discussion, make sure you are clear regarding the targets you are expected to achieve as well as what you will be held accountable for in your day-to-day responsibilities. 

You should also understand that increases in compensation are not usually solely based on performance. Always seek clarity regarding outside dynamics that may impact a decision to award raises or merit increases. For example, if your project doesn’t meet a major milestone, will this affect your chances for an increase? And what about the profitability of the company (or project or division)? The reality is that if a company isn’t profitable, it is less likely their employees will be receiving raises. 

Always have this type of discussion at the beginning of your engagement. The results will help you understand how to progress professionally and monetarily.

Here are some other things to consider. 

You Haven’t Received A Raise In A While

Do not take it personally if you have been with a company for over a year and haven’t received an increase. As you consider how to ask for a raise, it is important to note that companies will vary when it comes to their policy for giving increases; therefore, it is a good idea to understand your company’s model before asking your supervisor for additional compensation.  

For example, many companies are now more focused on providing merit increases rather than a typical pay raise. The difference between a typical pay raise and a merit increase is that a merit increase is given as a result of excellent work. In this scenario, raises will largely be given only to those who exceed their targets or whose performance is above average. 

This also means that those who performed as expected or below expectations may not receive an increase at all. 

Know The Market Value Of Your Job

If you feel you are underpaid, do some research to determine what the current market rate is for your position. You can do this by benchmarking job postings of positions similar to your current role. Ideally, you should research postings from your current employer, but you want to research your current company’s competitors too. 

We have written an article where we provide step-by-step instructions on how to benchmark the compensation range for your job. It is critically important you do this homework before asking for an increase in salary or compensation.  

Have You Taken On More Responsibility?

If the scope of your original position has changed, and that change has resulted in you accepting more responsibilities, it is fair to ask for a bump in salary. So how do you ask for a raise in this scenario? The key is to show evidence of your additional effort (and results) in order to properly support your request.   

Here is how:

With your original job description in hand, make a list of all the extra tasks or projects you have taken on that are outside of your original role. Then quickly document the extra time and effort that performing these tasks takes. 

Next, you will want to outline your achievements while performing these new tasks. This can be as simple as documenting the extra value you have added to the company or team. It can also be described in the context of how you have helped the team or company achieve their goals. For example, you can outline how your extra effort has helped the team obtain milestones, saved the company money, or even helped the company increase its efficiency or revenue.  

When You Speak to Your Manager

Asking for a raise is not as easy as running into your manager at the water cooler and mentioning that you would like to be paid more for the work you do.  Choosing the right time and being prepared can make all the difference.

Timing Is Key

You don’t have to wait until your evaluation to discuss a pay increase. Merit increases are given throughout the year so don’t feel that waiting for your annual review will be your best opportunity to win a raise. For example, a perfect time to ask for a raise is right after you have successfully completed a big project. 

Also, from a timing perspective, consider asking for a raise a few months after you have decided to take on more responsibilities. This one is tricky because you don’t want to ask for an increase when initially accepting the additional tasks. You should first prove you are successful with the new duties! Tackle the new role with enthusiasm and passion while holding yourself accountable to successful results. Approaching the new responsibilities with this attitude will surely yield excellent results and accomplishments. 

How to Ask

And when it comes to answering the question of how to ask for a raise, being able to document tangible accomplishments will provide an excellent argument for your cause. 

I would also recommend you consider how busy you are. Asking for a raise after taking on new responsibilities or leading a large project to completion is much more justified than if you have had a lot of free time around the office. 

A note of warning:

Many employees take a flawed approach and only consider their contributions to the company when asking for a raise. You should also consider the performance of the company. Has the company just successfully launched a new product and is therefore seeing an increase in revenue? Alternatively, has the company lost its flagship product and therefore seen a decrease in revenue? Have there been more team members hired? Or instead, have there been layoffs? Are you aware of recent budget cuts? 

The company’s current performance and profitability are indicators that the company is…or is not…able to give you a raise.

Have A Number In Mind

Don’t make your supervisor guess at the amount of increase you want. Before the meeting, factor in competitors’ salaries and your experience and attributes to arrive at a specific amount you think you should be paid. 

As a side note, it is okay to ask for a certain increase while voicing that you would be ‘willing to accept’ something different…but only if you can explain your conditions. And let me be clear, those parameters must include something you are willing to commit to.  For example, you may state something like:

“Based on current market rates, individuals in my role are making $12,500 more per year in base compensation. However, I realize I am new to this role, so I would be open to accepting an $8,500 increase if you will consider an additional increase in compensation as I continue to be successful in this position.”

Being knowledgeable and forthcoming will show you are confident and that you believe you deserve this raise.

Don’t Spring This On Your Manager

Take the professional route and set up a meeting. This not only shows professional courtesy but gives the manager notice of your intention. Additionally, scheduling a meeting allows you a few days to prepare yourself.

You will also want to consider what approach to use with your boss. Is he the kind of person who will be impressed by an aggressive sales presentation highlighting your outstanding attributes and contributions? Or would he be most affected by a relaxed data-driven presentation that shows your accomplishments as well as how you compare to others in the same role?

Regardless of your supervisor’s personality, don’t apologize for asking for a raise. But don’t be arrogant or threatening either. Lay out the research you have done as well as your clear request. 

If your manager rejects your request for a raise, ask what areas of your work performance you would need to improve in order to obtain a raise in the future. Even if the increase isn’t awarded this time, your manager will be impressed. 

In Conclusion

It can be intimidating to ask for a raise, but the steps regarding how to ask for a raise are clear. Be prepared in the how, and then push through your nerves. Do not let the process shake you from going after what you want and deserve.

Be prepared and plan ahead.  And good luck! 

The post How to Ask for a Raise appeared first on craresources.

What is the Current Clinical Research Associate Salary?

Today’s market is extremely volatile…at least in our industry. The current clinical research associate salary is considerably different than what we saw this time last year. Over the last several years, the base rate for a Senior CRA has varied by about 30%…sometimes 30% higher than the previous years, and other times lower.

I would love to tell you what the current clinical trials associate salary is. However, I thought it would be smarter (and safer) to show you how to determine the compensation range instead. Regardless of whether you are a job seeker or a hiring manager, knowing the current range is critically important when it comes to negotiating a job offer. 

The best way to determine what compensation range to expect (or negotiate) is simply to research it. There are several ways you can easily do this research and gain a solid understanding of what typical CRA jobs or contracts are offering in terms of compensation.

Don’t believe everything your colleagues tell you.

People lie about their compensation. It is estimated that between 15-20% of individuals will lie about their salary and that number will be higher for males. I once had a CRA call me to demand a raise. She told me that she had been talking to another CRA on the same project and he had told her he was making $10 more dollars an hour than her. 

She was livid. And he was not being truthful. While I explained that everyone on the project was at the same rate, her head was already set on obtaining an increase. Unfortunately, when the increase didn’t happen, she quit. 

Because he lied about his rate (and because she believed him), she behaved in a way that damaged her relationship with us as well as with the sponsor. You certainly want to do your homework, but I highly recommend you steer clear of asking your peers how much they are being paid.  But if you do ask, only consider what they tell you as a single point of reference. And remember, the dollar amount may be 15-20% inflated.  

Instead… start your research online. 

The World Wide Web is a great place to start your research.  The web has several free resources that will allow you to sift through compensation information. Being able to compare different rates for different roles or jobs is extremely helpful.  I benchmark positions using actual client data but also leverage sites such as payscale.com, indeed.com, glassdoor.com, and simplyhired.com.  

And yes, I use all of these external sites. Why? Rates vary by company. Additionally, titles vary by company. Since the reported compensation will therefore also vary, I am always sure to capture multiple data points from each resource and then come up with an average.  

You can also search job boards for postings similar to your desired position. Often companies will list compensation ranges within their job listings and you can use this information as additional data points. In our industry, I like to use a blend of data from both CROs and sponsors.  Likewise, I also gather data points from both large and small companies so I can ensure proper sampling of data.  

Speak to an industry recruiter.

Recruiters who are experts in our industry are very likely to know the current clinical research associate salary range. By talking with these recruiters, you can be armed with the current industry rate. Knowing what the market is offering will better prepare you for upcoming salary negotiations.

But be careful; if the recruiter isn’t an expert in our field, their data may not be accurate. Seek out a clinical research recruiter who specializes in the placement of CRAs so that you can feel confident in the data you obtain. As a side note, CRA recruiters can also provide a plethora of other resources and information that you may not have thought of. And a bonus, this advice will usually be at no cost to you.

Consider the benefits.

Don’t forget that the clinical research associate salary is only a portion of the overall CRA compensation package. When you are determining what your expected compensation range should be, make sure that you are taking the entire compensation package into account.  

For example, we often see high-paying positions that are balanced with a benefits package that isn’t as attractive.  Alternatively, companies may offer a generous sign-on bonus but a lower base salary. Other companies offer a 401(k) contribution plan, while still others an attractive paid-time-off (PTO) allotment. Know what is important to you and your family before you start negotiations. 

Most Importantly, Don’t Wait

Know what compensation you are looking for before you receive an offer. Actually, understanding what is important to you in the overall compensation package before you even start the job search is critically important. 

Knowing what you want along with being armed with the benchmarking data we describe above will enable you to make better decisions regarding which positions you want to apply to. It will also enable you to be clear and confident when you state your expectations. 

The post The Current Clinical Research Associate Salary appeared first on craresources.

Before we can dig into the current contract CRA salary or hourly rate, we should first understand the difference between a candidate-driven and employer-driven market.  

Once the industry kicked back into gear after COVID, we experienced a strange resourcing situation. The demand for field monitors was exceptionally high…much higher than the number of available Clinical Research Associates. The high demand coupled with the shortage of available CRAs meant that Sponsors and CROs were competing for this limited CRA pool.  

Therefore, we dove head first into a candidate-driven market.  

In a candidate-driven market, jobseekers have the advantage and can demand higher compensation and better job perks. In the post COVID rush, we saw the hourly rate for contract CRAs come close to doubling for monitors experienced with hot skills like CAR-T and gene-therapy. 

With that being said, our current market is heavily employer-driven because there are more qualified candidates than available positions. Therefore, employers are more able to negotiate compensation and job perks. In today’s market, I have seen salaries for specialized CRAs drop by roughly 20%.

Why Is This Important?

Hiring managers and clinical research associates should continually assess the market. An understanding of the current contract CRA hourly rates and CRA salaries is important for various reasons. 

As a Hiring Manager, knowing the current market compensation ranges can help you quickly detect fraudulent candidates. It can also protect you from those CRAs who ‘poach’, thus protecting your budget. 

And as a CRA, having this knowledge can help you understand how to maintain competitiveness while still being able to demand an appropriate range. It will also help you look beyond the rate so that you can secure positions within compelling companies on exciting projects. 

Any way you slice it, to hire high-quality CRAs or get hired by great sponsors, you must be aware of the current market value of a Contract CRA.

Jump to CRA Info

Hiring Managers: How to understand the Contract CRA Hourly Rate

When you understand current compensational market trends for CRAs you can:

Prevent attrition

Every Sponsor and CRO is competing for top talent.  While you shouldn’t pay more than market value, offering an aggressive rate can go a long way in ensuring your CRAs will not leave for greener pastures. 

Said differently, expect attrition if you are underpaying your CRAs. Attrition rates for CRAs have been exceptionally high in the past few years, and while inadequate pay isn’t the only reason for high attrition rates, it is one of the largest driving forces behind the high turnover volume. It is certainly one of the easiest factors that you can control in mitigating negative attrition.

Detect fraudulence

Several years ago we noticed a trend of CRA candidates asking for well below the market rate or salary.  As we explored deeper, we realized this trend was directly related to the candidate fraudulence we had started identifying in our industry. If a CRA is asking too little, dig deeper, as this is a clear sign of an amateur at best and a fraud at worst.

Alternatively, even if the candidate isn’t committing fraud, if they undervalue themselves so much as to ask for a below-market rate or salary, they may be desperate. And my experience shows that desperate people make desperate decisions. You likely won’t be satisfied with their work, but even if their work isn’t subpar, they will leave you as soon as the next best offer comes around.

Protect your budget

There is a pool of CRAs who are known to overvalue their services when given the opportunity. It is common for these CRAs to ask for compensation far above the current market’s contract CRA hourly rate. In our experience, however, a higher rate doesn’t necessarily mean a better CRA. For cases like these, being aware of competitive compensation ranges will help you protect your budget and avoid overpaying. We have continually seen that if a CRA is genuinely passionate about the industry, other position perks mean something to them.

How do you know if the individual is looking for a long-term home or just haggling for money’s sake? Consider these qualities over a high asking price:

• Has the CRA expressed a personal passion for the industry? 
• Is it clear the CRA has researched your company and products, and clearly expresses a desire to contribute to your team’s mission?
• Does their resume represent long-term contracts or repeat clients?
• Have you received positive feedback from previous contract references?

When engaging a new contract CRA, speaking with supervisors from previous assignments is another extremely valuable resource. Check in with past contract references to vet each new hire, ensuring that the CRA has not left a contract before it naturally ended because this is a telling sign.  This means that while good CRAs do leave contracts early for multiple reasons, a large percentage of CRAs who end their contracts early do so because they found a better deal. 

How craresources can help

While finding, interviewing, and vetting potential CRAs can seem daunting, you don’t have to do it alone. craresources does all of the hard work for you, cutting down on your workload and helping to eliminate fraud by interviewing and recommending only those CRAs who have passed our stringent qualification process. 

Because of the volume of CRAs we place, we are extremely familiar with the ever-changing market. Therefore, you will pay a competitive rate without overpaying. Additionally, we not only ensure that the CRAs who pass our rigorous process are as qualified as they claim to be, but we also provide options so that hiring managers don’t have to settle for less than the best. You never have to settle for a CRA located in the wrong area, without the specific skills and qualifications you need, or whose personality doesn’t fit with the rest of your team.

CRAs and the Contract CRA Hourly Rate

As a CRA looking for well-paying opportunities that you can be passionate about, it’s important to know what contract CRA hourly rate you should be asking for. Knowing the current market rate enables you to expect strong compensation while competing with other CRAs. It will also help you look beyond the price tag to make better long-term career decisions.

Understand the market rate

In the current employer-driven market, the contract CRA hourly rate has stalled and salaries have dropped. While markets are constantly changing, it is important that you see beyond the current ‘ebb’ or ‘flow’ by focusing on your overall career goals. 

Think ‘long-term’ by building strong relationships with companies and sponsors. Be sure to meet your commitments by not bailing on contracts because you have received a better offer.  Instead, think about your career aspirations and stay in control.

Look beyond the high rate with craresources

What should you look for in a sponsor besides money?

One of the best ways to provide for yourself long-term is to build a relationship with a firm like craresources that will offer a partnership along with repeat placements. We put in the time to get to know you, and we care about your fit, ensuring you are placed in an environment that will enable you to succeed and grow your skills. With a firm like craresources, you can rest assured we will always be available to provide support, as you being able to smoothly transition into your new assignments is one of our primary goals. 

We understand how important CRAs are to our industry and realize a good CRA assignment is more than just the hourly rate. It is also about the science, the culture, and the work environment; so we make it a point to get to know our CRAs before recommending positions to them. This helps to keep you happily engaged, enabling both you and the sponsor to be satisfied. That satisfaction is why we’re worth the effort. With craresources, you’ll get the best gigs with the best clients, all tailored to fit your needs and skill set.

Leave it to the Experts at craresources

Whether you’re a hiring manager or a CRA, knowing the current market’s contract CRA hourly rate can help you make the best decisions for yourself and your firm or career. However, the market is constantly changing, and it can be hard to keep up. But at craresources, it’s our job to understand these fluctuations to serve you better. 

If you have specific questions about market rates, reach out to the experts at craresources. Engaging us to answer the hard questions and do the legwork for you will benefit you every time. Reach out to us today to learn more about how we can connect you with the most experienced CRAs and the best sponsor work environments time and time again.

The post What is the Current Contract CRA Hourly Rate? appeared first on craresources.

Over the years we have represented an extremely large number of CRA Consultants. Because of this experience, we have gained significant insight into the pros and cons of being an independent CRA consultant.  After all, choosing between independent consulting and being an employee is an important decision, as moving into consulting isn’t for everyone.  

Since the decision to move into a CRA consultant role shouldn’t be made lightly, we have pulled together some thoughts for you to consider. Our goal is to arm you with enough information so that you can make the decision that will be best for you and your loved ones.  

Work/Life Balance  

Assumption: Becoming a CRA consultant will enable me to maintain a better work/life balance.  

Reality: Like to be off on Fridays?  Want to be able to select which Sponsor and/or Project to work on?  Are you keen to explore a different therapeutic or indication? Would you prefer to be part-time so you can catch the kiddo’s soccer matches?

While being an independent consultant offers flexibility in schedule and assignments, the reality is that for many independent clinical research consultants, maintaining a work-life balance can become blurred.  

Solution:  Ensure you have established some level of structure such as a defined, but ‘loose’, work schedule.  Having such an established ‘loose’ work schedule will make you feel like you have permission to take time off. It also enables you to set boundaries in order to protect yourself from overcommitting.  

You will also want to set aside time to actually run your business. Don’t underestimate how much time the administrative, financial, and marketing tasks take.  Even if you hire someone to take care of the books and administration, it is still important to have set times when you are networking for new contract CRA positions and performing other tasks required to grow your business. 

Job Security

Assumption: Permanent employment means higher job security

Reality:  Absolutely.Not.True.  While you may not have a ‘set end date’ like CRA consultants do, permanent employment doesn’t translate to job security.

Today’s market is volatile, with large quantities of companies being acquired, undergoing a merger or business model change…or unfortunately, completely shutting down. 

Being laid off, having your hours reduced, or having to face that your benefits have been dropped, is the new reality. The bottom line is that you are not in control when you are employed by someone else. 

Solution: Explore. Often an independent clinical research consultant will earn more and we can help you do the math so you can decide if becoming a contract CRA is best for you. What do you have to lose by having a discussion with one of our Clinical Recruiters?  

Benefits 

Assumption: But what about benefits? Don’t I lose my benefits as a CRA consultant?

Reality: Benefits aren’t a problem. In today’s market, we are seeing companies dropping or reducing benefits, so being a permanent employee doesn’t guarantee you will receive them. Additionally, we have found that permanent positions don’t always offer the best benefits; the reality is that employees often don’t have great choices when considering what benefits their employer is providing.  

Solution: You can still get the benefits you want, and the ones that best fit you and your family’s needs.  Often the third-party company you are contracting with will offer benefit packages, but even as an independent clinical research consultant, it is extremely easy to cover yourself and your family through your own company.  Your contract CRA hourly rate should reflect the cost of your benefits and the value-add is that you will be able to customize your benefits program to better fit your personal situation.  

Financial Stability

Assumption: Independent clinical research consultants have an irregular pay schedule, meaning less financial stability.

Reality: Irregular pay schedules should only happen if you have engaged with the wrong recruitment agency.  

Solution: Check the reputation of the recruitment agency you have chosen to work with. Ask for references if you are unfamiliar with the agency’s brand.  Ensure you enter into a clinical research consultant agreement that a) defines the payment timeline and process and b) has ‘teeth’ in the agreement for non-payment.  

Also be sure to select an agency that always has contract CRA positions available so that you can work at your desired utilization level.  

Retirement   

Assumption: Independent CRAs must invest in their own retirement as well as withhold their own federal, state, and local taxes.  

Reality: This is a true assumption, but it isn’t a bad thing.  

Solution: Robert Kiyosaki quotes ‘It’s not how much money you make, but how much money you keep…’  As an independent consultant, you can write off everything considered to be a business expense. This can include non-reimbursed travel expenses, home office equipment and supplies, home office space, internet and telephone services, health insurance for your family, etc.  

So yes, you do have to withhold your own taxes, but this doesn’t mean you pay more taxes. Actually, due to your new business deductions, you should expect to pay less.  

Along those same lines, it is extremely easy to set up your own retirement plans. Establishing a 401k or Defined Benefit program will not only prepare you for the future but will also further reduce your current tax burden.  

The Real Answer

Assumption: I can earn more money as a CRA consultant.

Reality: Absolutely true.  

Solution: Typically, independent consultants can earn higher hourly rates because the company engaging the consultant will incur less overhead and burden costs than if they hired a perm. 

The other earnings benefit: you are paid for every hour you work. This can be a drawback too, as you no longer have paid time off.  However, if you are organized and have a strong relationship with a reputable recruitment agency, you will be able to stay at your desired utilization level while likely earning more money than you did as a perm. 

Imagine, making it to the kiddo’s soccer matches while earning more…hmmm. 

In a Nutshell

As you can see, there are plenty of benefits as well as drawbacks to being an independent clinical research professional.  To make the right decision, evaluate what is most important to you in terms of both your professional and personal lives. And, if you have questions?  Ask the team here, and we will be happy to help.

The post The Pros and Cons of Being an Independent CRA Consultant appeared first on craresources.

We hope you find our articles on compensation to be beneficial.  Of course, if you have questions and want to reach out to us directly, please feel free to contact us at recruiting@craresources.com.

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