Overqualified job hunters....

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Job market tough for 120K and above. Our impact 15 years ago justified the comp, but no longer today. The market has calculated our impact at 60K-80K for reps and 80K - 120K for managers.

The best thing to do is play down your long history of successes on your resume. RESIST at all cost throwing comp figures out at recruiters during the initial screenings. They are trained to wrestle you down to the ground until you tell them your previous comp. Over the amounts above...forget a call back.

Let them throw figures out FIRST! Then negotiate to the higher level above and take it or leave it. Sad reality we are now in.

Make sure you just don't post online ( goes into a black hole ). Have an internal employee sponsor you.

Good Luck!
 




I got knocked out of the running on a job a few years ago when I told them what I had been making. I was immediately disqualified. Take the previous posters advice and don't let them get numbers out of you.
 




Anonymous said:
I don't have a problem. Not crying also. Not looking for you to break anything down. Maybe re-read the post? Did that whole intellectual property thing throw you off. If so I would like to personally apologize for that. Maybe stay away from the finance and science field. Better yourself in another field. Remember, it's not what you want to do. It's more about what you are capable of doing. Special needs retarts don't design spaceships for NASA. The same way you should not be a scientist.

Hope that helped.
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You must have a MBA and definitely a CPA. The biggest (CPA) certified public asshole on CP ever.
 












Have been looking around for months and have had more phone interviews than I can remember. About a dozen live interviews with some close offers, but nothing yet. Most standard run of the mill pharma companies are now looking for young candidates without the frills of extra experience, awards or graduate degrees. If you've had higher level ranks or positions (rotations, management) or extra degrees you might find its may not help as much as you think. It might actually hinder you in some jobs. One or two years of any sales experience, BA/BS is what most companies want. That's enough and actually their ideal because it matches the lower salaries and bonus structures now being offered.

The managers are tending to be younger, 30s and some in their 40s. A few MBAs, but most seem to have only a BA/BS. Believe it when you hear there is competition. There is, and plenty of it. Be realistic. Realign your expectations. Spread out and widen the type of jobs you'll consider.
 




Anonymous said:
Its very difficult to convince a company to pay you anything close to what Merck pays you. Start a business now and the income drop off won't be as painful.
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Start a business? Do you know what goes into creating a working business and how long that actually takes? You need money up front and more money while you're getting it going. No benefits either. You absolutely must have the pension bridge or a spouse with an income and benefits. From what I hear there are people here who were cut with nothing, no pension bridge granted. You need money to do anything like start a business. Stop the ignorance.
 








Anonymous said:
Have been looking around for months and have had more phone interviews than I can remember. About a dozen live interviews with some close offers, but nothing yet. Most standard run of the mill pharma companies are now looking for young candidates without the frills of extra experience, awards or graduate degrees. If you've had higher level ranks or positions (rotations, management) or extra degrees you might find its may not help as much as you think. It might actually hinder you in some jobs. One or two years of any sales experience, BA/BS is what most companies want. That's enough and actually their ideal because it matches the lower salaries and bonus structures now being offered.

The managers are tending to be younger, 30s and some in their 40s. A few MBAs, but most seem to have only a BA/BS. Believe it when you hear there is competition. There is, and plenty of it. Be realistic. Realign your expectations. Spread out and widen the type of jobs you'll consider.
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The script has flipped. Big pharma is now entry level and CSO is were the experience is. 60-80 starting base is the norm. Little, if any, of it is negotiable. There are more than 10,000 unemployed reps, all with just as equally impressive brag books trying to stay in. It's more than a buyers market. It's a garage sale with employers sifting through the damaged goods and factory seconds. If you have the ability, now is the time to get out. Actually, if career is important to you, you should have gotten out, about ten years ago.
 




Anonymous said:
The script has flipped. Big pharma is now entry level and CSO is were the experience is. 60-80 starting base is the norm. Little, if any, of it is negotiable. There are more than 10,000 unemployed reps, all with just as equally impressive brag books trying to stay in. It's more than a buyers market. It's a garage sale with employers sifting through the damaged goods and factory seconds. If you have the ability, now is the time to get out. Actually, if career is important to you, you should have gotten out, about ten years ago.
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Reps make 60-70. 62 is the norm....80 is not unusual. Starting is where most are stuck. Raises are about .50-1.00% maximum. Some offer no raises for duration of contract..

The rep job cso is for those who have a working spouse. Pay all the bills? Tough to impossible if you live in a high cost area. The only somewhat good point - they'll help you get a new placement if the contract ends.
 




First of all, $60k is a pretty good wage in the real world. Big pharma has wiped out your sense of reality. Merck is hiring scientific phd's for not much more.

We hear stories of those who landed on their feet after getting tossed out the door but they are the exceptions. Most who get whacked are forced to make major adjustments in their standard of living.
 




Anonymous said:
First of all, $60k is a pretty good wage in the real world. Big pharma has wiped out your sense of reality. Merck is hiring scientific phd's for not much more.

We hear stories of those who landed on their feet after getting tossed out the door but they are the exceptions. Most who get whacked are forced to make major adjustments in their standard of living.
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It all depends on what part of the country you live. My standard of living was low and definitely no frills before the cut. Now I'm thinking of moving to a shack or to Appalachia. No possible way anyone I know can live in a major big city area on 60 as the sole income. That would means a definite on an eviction, foreclosure or property tax default.
 




Anonymous said:
Reps make 60-70. 62 is the norm....80 is not unusual. Starting is where most are stuck. Raises are about .50-1.00% maximum. Some offer no raises for duration of contract..

The rep job cso is for those who have a working spouse. Pay all the bills? Tough to impossible if you live in a high cost area. The only somewhat good point - they'll help you get a new placement if the contract ends.
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80 is VERY unusual for CSO.
 




All sorts of varied salaries in major cities on East Coast. Times are changing and will continue to change the lives of many pharmaceutical reps once they are terminated. These people will have to adjust to another lifestyle, relocate, or change their standard of living. Many older people will have to accept the fact their former salary was highly unrealistic when they do not have the corporate umbrella to protect them. People will not be happy but this is the evolving atmosphere for pharmaceutical sales representatives.
 




Anonymous said:
All sorts of varied salaries in major cities on East Coast. Times are changing and will continue to change the lives of many pharmaceutical reps once they are terminated. These people will have to adjust to another lifestyle, relocate, or change their standard of living. Many older people will have to accept the fact their former salary was highly unrealistic when they do not have the corporate umbrella to protect them. People will not be happy but this is the evolving atmosphere for pharmaceutical sales representatives.
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Its absurd that people are expected to ditch their homes and run for the hills (literally) all because employers refuse to pay wages in keeping with living standards of an area.

A household income of 60k lets you live like a sort a' king in the Dixie states, while in the LA, SF, DC or NY its almost the brink of poverty. The answer is get 2 incomes or leave the profession if you won't relocate.
 




Anonymous said:
Its absurd that people are expected to ditch their homes and run for the hills (literally) all because employers refuse to pay wages in keeping with living standards of an area.

A household income of 60k lets you live like a sort a' king in the Dixie states, while in the LA, SF, DC or NY its almost the brink of poverty. The answer is get 2 incomes or leave the profession if you won't relocate.
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It is not the employers issue where you live or how you live. We pay the going rate, if you cant live on the wage / salary that is your fault. Move on and quit bitching!
 




Anonymous said:
Its absurd that people are expected to ditch their homes and run for the hills (literally) all because employers refuse to pay wages in keeping with living standards of an area.

A household income of 60k lets you live like a sort a' king in the Dixie states, while in the LA, SF, DC or NY its almost the brink of poverty. The answer is get 2 incomes or leave the profession if you won't relocate.
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Profession? Career? Pharma sales is neither ..... the idea that it is a "profession" is so funny. I thought a profession needed some skills. Slinging lunch aint skilful.
 




I had over 25 years with Merck before I took the package in June. I can tell you that there are so many pharma reps and managers that are looking for work right now. I'm a recruiter for a CSO now, and I can't believe how many reps who used to make 80-100K are now begging for a contract job that pays 65K. They all come from Merck, Pfizer, Forest, Novartis, etc. and are experienced/tenured and have won multiple awards. Enjoy your job now and be thankful, you are all overpaid and underworked. You won't realize this until you lose your job and try and find another one with equal pay and benefits
 




Anonymous said:
I had over 25 years with Merck before I took the package in June. I can tell you that there are so many pharma reps and managers that are looking for work right now. I'm a recruiter for a CSO now, and I can't believe how many reps who used to make 80-100K are now begging for a contract job that pays 65K. They all come from Merck, Pfizer, Forest, Novartis, etc. and are experienced/tenured and have won multiple awards. Enjoy your job now and be thankful, you are all overpaid and underworked. You won't realize this until you lose your job and try and find another one with equal pay and benefits
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Overpaid and underworked is a HUGE understatement…Most Merck reps who had 6 figure salaries, (such as myself) will be lucky to find employment that pays them one third of what they made with salary/bonus/benefits at Merck…They will also work about 5 times harder with more stress and responsibility.

I found out the hard way, (as many of you will) in my 50s, that the real world of jobs has nothing to do with pharmaceutical sales…I mean nothing…Your industry is so completely detached from reality that it is scary…If there weren't such ridiculous high margins on the pills and potions you sell, Merck would have to act like a real company, and not a provider of corporate welfare.
 




Anonymous said:
It is not the employers issue where you live or how you live. We pay the going rate, if you cant live on the wage / salary that is your fault. Move on and quit bitching!
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Many employers will adjust salary up to area of residence.

Get real. Try living in an area where property taxes are 18-35K plus and small, modest middle class homes of fixer upper status start at 500K. The same inflated costs extend to everything from heating fuel to car insurance. No Gucci anything just bills and taxes.

A relocation to the low taxed and reduced cost of living state might be the answer, but that's not possible for many of us.
 




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