What’s the Average Salary with a Masters in Clinical Research?

With a master’s degree in clinical research, you can qualify for jobs with higher levels of responsibility. Of course, these jobs also typically come connected to higher salaries. But what kind of salary can you expect if you have this kind of degree? Is the cost of a master’s degree in clinical research education worth the increase you can see in salary?

Average Salary by Clinical Research Job

The salary you can expect as a clinical researcher with a master’s degree depends a lot on your job title. According to reports at PayScale.com, one of the highest-paying jobs you can take in the clinical research field is that of a Senior Clinical Research Associate, where you can expect to earn an average of over $80,000 annual. In other positions, such as working as a Clinical Laboratory Scientist, Clinical Research Coordinator, or Clinical Research Associate, you can expect to earn between $40,000 and $65,000 if you have you’re master’s degree. This is about 5% more, on average, than you can expect to earn if you only have your bachelor’s degree, and keep in mind that you won’t even qualify for positions with some employers if you don’t have at least a master’s degree in clinical research or a related field.

Average Salary by Location

Location plays a huge role in the salary you can expect with a master’s degree in clinical research. on PayScale.com, the top-report positions were available California, North Carolina, New York, Pennsylvania, and Massachusetts. You can expect to earn the most if you work in larger city, but keep in mind that cost of living is higher in these places as well, so the best overall position (in terms of salary) might not be the one where you’ll earn the most money.

Benefits and Bonuses for Clinical Researchers

The field of clinical research is one where bonuses and benefits are both common perk for employees. According to reports, you can expect annual bonuses of up to $3,250 in some positions, especially if you’re working on bringing a new drug or piece of equipment to market. You can also expect to receive a benefits package as part of your salary, including things like paid vacation days and a medical plan.

Top Online Master's Degrees in Clinical Research & Related Subjects

Working in clinical research, you study the latest drug and pharmaceutical developments. A big sector of working in clinical research is working in drug safety. Before any drug hits the market, it must undergo many clinical tests to ensure its safety before making it available to the public. Clinical research covers medications, how often and when medications are the most effective and how useful medical products are for patients.

A masters in clinical research puts you in a position to obtain a top level lab position as a clinical researcher. There are many teams when working in labs for clinical research and that means upper level management positions that pay more and involve more responsibility. Studying for masters in clinical research will teach you communication skills, give you additional training in research, clinical science and how to work as a developer or manager on a team. There are several types of masters in clinical research degrees. Which you choose depends on the career you plan on having after obtaining your degree. Most masters in clinical research degrees are comprised of 32-36 hours.

The various masters in clinical research degrees offered usually focus on science or on the business aspect of clinical research. This gives you the option to work in the lab on an every day basis or to be in the office working in the corporate arena of clinical research. Usually those working in the corporate sector of clinical research have a few years of working in labs as a clinical researcher. Many pursuing a masters in clinical research also have a background in biotechnology.

MS in health science in clinical research administration

While the word ‘administration’ may bring to mind a secretarial position, rest assured that’s not what you’ll be doing with a masters of science in health science in clinical research administration. This masters degree teaches you leadership skills and how to manage a team when heading up a research project. Upper level lab positions will involve you planning a clinical trial, overseeing its execution and tracking results for a client. A masters in clinical research will help you prepare for developing medical products and tools for patients. It is a business-minded degree though it is a masters of science. This masters degree is also known as a MS in clinical research management and organization, and covers similar material.

What career can I have with a MS in clinical research?

The field of clinical research is booming and will continue to grow at a rapid rate. It is set to grow 20% through 2018. There are many different jobs you can have with a MS in clinical research, it all depends if you want to work in development or in labs running tests and conducting trials.

Drug development

In this career you’re working to develop new drugs for the public. You are employed by a private company in most cases. When working in testing and approving drug developments and whether they’re effective, you may be employed by a private company, the government or a university.

Contract research organization

Working in contract research organization, you’re able to take on contract jobs for companies and work in the development of medical products and tools. A company outsources this work to a third party CRO so they do not have to keep a staff on payroll while a product is created, tested and brought before the FDA.

Clinical data management

Clinical data management involves collecting data from any test, trial or treatment that is done. Clinical data is gathered for all of these things by computers, but clinical researchers go in and check from patterns. Further study is done on the clinical data for future studies and to support a drug or product seeking government approval.

Experimental medical treatments

Many new medical treatments are available for various diseases, both life threatening and non. These experimental treatments are usually conducted by private pharmaceutical companies, but may also be done by universities or private care facilities. A masters in clinical research will prepare you for a lead role in experimental medical treatments, managing the trial and presenting results after the treatment is over.