Merit Increase Survey

Results of quick merit increase survey.
BEDC Merit Increase Survey Results

Sector Merit Y/N % Promo %

Pharma Y 4.5% Included
Pharma Y .0% 2%
Bio N
Pharma Y 5.0% Included
Pharma Y 5.0% Included
Pharma Y 3.0% 1%
Pharma Y 4.0% Included
Bio Y 6.0% Included
Pharma Y 5.0% Included
Bio Y 5.5% Included
Diagnostic Y 5.0% Included
BioPharma Y 3.0% Included
Bio Y 3.0% 1%
Bio Y 4.0% Included
Pharma Y 4.0% Included

Stipends for employees who do not elect benefits

Thanks to all who responded! 13 companies who replied do not offer this type of benefit, 8 of which were interested in receiving more information. The companies who do offer this benefit said the following:

• • Company A offers a waiver of $1,000 per year (paid via PR, spread equally over 24 PR's) for waiving our medical insurance and $250 per year for waiving the dental insurance.
• We currently have a monthly waiver credit that is $70/month for medical insurance and $10/month for dental insurance. However, with the merger of our company, we are discontinuing this benefits effective 01/01/09.
• The company felt that the long term risk (for example covering employees who for the longest time took the stipend and then when they were very sick started using the benefit plan) outweighted the savings.
• Company B credits employees $50.00 monthly if they opt out of medical coverage.
• We have an OPT OUT option for employees. If they choose this they have to provide proof they are on their spouse's plan. They receive $500 per year as a benefit.

Other thoughts on the subject:

• We do not offer a stipend and would actually advise against it. Reason being, you can't take away ones eligibility for benefits, so if ever their circumstances change and they need benefits, you can't deny it. I guess you could then take away the stipend, but take aways are always difficult.