Biogen verbal offers 275k total comp

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one thing you guys left out.. Biogen has really bad reputation.. so many biotech folks have left that org and do not have nice things to say about it. I would say.. get your experience and go to another biotech outfit.
 




anonymous said:
one thing you guys left out.. Biogen has really bad reputation.. so many biotech folks have left that org and do not have nice things to say about it. I would say.. get your experience and go to another biotech outfit.
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it won't matter for most primary care reps. Who in the world would want a rep that spent the last 3 years supporting BMS reps efforts with a 23 second combined "so how's that Eliquis working for ya, doc?" and bridges into an even shorter Chantix "detail"?
 




anonymous said:
it won't matter for most primary care reps. Who in the world would want a rep that spent the last 3 years supporting BMS reps efforts with a 23 second combined "so how's that Eliquis working for ya, doc?" and bridges into an even shorter Chantix "detail"?
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Sounds like the Derm reps and the past year Xeljanz reps.
As nurses call them Xelcatering reps or the XelBucks reps for starbucks
 




Biogen is big packages. Salary & Bonus a lot more but the yearly co stock for all employees is the wealth creator difference.
Literally difference in several millions of dollars over 15 yrs.
 




That is probably why my Xeljanz RD was interviewing with Biogen. (That and the primary care puppet culture in I&I)

Biogen is a great company but it is the stock equity that is a financial life changing event.
 








anonymous said:
How many years have you been removed from Biogen? You need to talk to some of your friends who have been RECENTLY hired in the past year. The orginal post is accurate but actually a little low.
I went over to Biogen from Genentech and they matched
my salary or 177k,
target Bonus was 50k uncapped,
and they gave me 50k of stock as a sign on and 30k a year min and goes up with performance.
1st year I finished in Top 20% and stock was 60k of RSU.
Dont try to downplay the financial rewards of others when you are stuck & financially miserable at Pfizer who is at the 48th %tile in compensation of the Pharma Industry.
Be happy for others or improve your own life
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I’m not hating on anyone, you’re easily triggered.

What I posted is spot on.

And I believe your story is as FU’d as the Amgen wife. Why are you trolling Pfizer if you left Genentech to move to Biogen. And why would you leave Genentech in the first place? They dominate the MS market with Ocrevus?
 




anonymous said:
I’m not hating on anyone, you’re easily triggered.

What I posted is spot on.

And I believe your story is as FU’d as the Amgen wife. Why are you trolling Pfizer if you left Genentech to move to Biogen. And why would you leave Genentech in the first place? They dominate the MS market with Ocrevus?
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LOL you are not at any expert level of the industry my friend. Stay in you big pharma world. Biotech is all about equity . People move within the sector frequently for 6 figure stock. Also promotions abound.
It is all good. Nobody is triggered when facts & reality are discussed. Just setting the record straight.(now if the package you reference is what they offered you then you did not ask for enough or it is an older division not having to compete to attract top talent from other biotechs)
 




anonymous said:
LOL you are not at any expert level of the industry my friend. Stay in you big pharma world. Biotech is all about equity . People move within the sector frequently for 6 figure stock. Also promotions abound.
It is all good. Nobody is triggered when facts & reality are discussed. Just setting the record straight.(now if the package you reference is what they offered you then you did not ask for enough or it is an older division not having to compete to attract top talent from other biotechs)
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You’re too wise for me my friend.
 




anonymous said:
You’re too wise for me my friend.
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If you are in IM, most are!

Bottom line:
Many biotechs are hiring and they mainly go after other Biotech reps. The few times they go after Big Pharma reps it is 100% time Specialty Reps like Oncology, Rare Diseases & Immunology.
The Base Salary is accurate & some co actually higher than this post--- 200k base for some biotech startups. But most new hires is 150-180k range. Once you are on board then pay grades are crazy high. MANY existing reps over 200k base.
The Bonus is also lot higher than big pharma, at 40-75k range depending on co & if it is a product launch.
The BIG DIFF that blows yearly Total Compensation out of the water is Co Stock. Every employee gets co stock & it is 100% stock, NOT Options, TRSUs etc that Pfizer & big pharma give their Execs & Managers which 70% expire worthless because of the strike price.
End Result is Total Yearly Comp about 100k more than big pharma. Reps make what Pfizer Managers make, Managers make what Directors make & some Tenure Management level make what VPs with Pfizer make.

It is what it is. Biotech is extremely hard to get hired onto, they have less employees (even Brand team is just a few people, Pfizer Brand teams are as many or more than the DMs!)
Also products are more expensive thus higher revenue & lot less expenses. You rarely see Biotech drugs on TV DTC every hour like big pharma who spend billions a yr on ad time.
Biotech is based in science that drives sales. Big Pharma like Pfizer is based on marketing & DTC to drive sales.

That is a long but accurate summary
 




anonymous said:
If you are in IM, most are!

Bottom line:
Many biotechs are hiring and they mainly go after other Biotech reps. The few times they go after Big Pharma reps it is 100% time Specialty Reps like Oncology, Rare Diseases & Immunology.
The Base Salary is accurate & some co actually higher than this post--- 200k base for some biotech startups. But most new hires is 150-180k range. Once you are on board then pay grades are crazy high. MANY existing reps over 200k base.
The Bonus is also lot higher than big pharma, at 40-75k range depending on co & if it is a product launch.
The BIG DIFF that blows yearly Total Compensation out of the water is Co Stock. Every employee gets co stock & it is 100% stock, NOT Options, TRSUs etc that Pfizer & big pharma give their Execs & Managers which 70% expire worthless because of the strike price.
End Result is Total Yearly Comp about 100k more than big pharma. Reps make what Pfizer Managers make, Managers make what Directors make & some Tenure Management level make what VPs with Pfizer make.

It is what it is. Biotech is extremely hard to get hired onto, they have less employees (even Brand team is just a few people, Pfizer Brand teams are as many or more than the DMs!)
Also products are more expensive thus higher revenue & lot less expenses. You rarely see Biotech drugs on TV DTC every hour like big pharma who spend billions a yr on ad time.
Biotech is based in science that drives sales. Big Pharma like Pfizer is based on marketing & DTC to drive sales.

That is a long but accurate summary
Click to expand...
Retired Biogen & Amgen RD here & this pretty accurate. External biotech hire pay is based current mkt enviroment in biotech & what top 20% reps w other Biotechs command. As that is the talent each Biotech goes after when expanding. If it is a new product launch, then the free agency price tag on Top 20% Biotech talent goes up.
During my career interviewing the top biotech talent (especially the last 3-4yrs) the top 20% talent w Biotech have base salaries in 170- 200k range! Pay for Performance is applied in Biotech. So when Amgen & Biogen had to hire the best of the best, the salaries were over 170k for a rep. You get what you pay for.
RDs (aka DMs in pharma world) are even more mind blowing, like 450k + total packages w co Stock the last few yrs for the top managers.

Point is, YES this topic & most posts are accurate and on the LOW end from my management yrs as a RD w Amgen & Biogen with RD/DM stops at Pfizer & Novo in 35yrs.
Many establish Biotechs are higher than what is being posted for Top 20% Biotech talent.
 




anonymous said:
Retired Biogen & Amgen RD here & this pretty accurate. External biotech hire pay is based current mkt enviroment in biotech & what top 20% reps w other Biotechs command. As that is the talent each Biotech goes after when expanding. If it is a new product launch, then the free agency price tag on Top 20% Biotech talent goes up.
During my career interviewing the top biotech talent (especially the last 3-4yrs) the top 20% talent w Biotech have base salaries in 170- 200k range! Pay for Performance is applied in Biotech. So when Amgen & Biogen had to hire the best of the best, the salaries were over 170k for a rep. You get what you pay for.
RDs (aka DMs in pharma world) are even more mind blowing, like 450k + total packages w co Stock the last few yrs for the top managers.

Point is, YES this topic & most posts are accurate and on the LOW end from my management yrs as a RD w Amgen & Biogen with RD/DM stops at Pfizer & Novo in 35yrs.
Many establish Biotechs are higher than what is being posted for Top 20% Biotech talent.
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Yes Sir. That is an honest accurate assessment of biotech
 




anonymous said:
Retired Biogen & Amgen RD here & this pretty accurate. External biotech hire pay is based current mkt enviroment in biotech & what top 20% reps w other Biotechs command. As that is the talent each Biotech goes after when expanding. If it is a new product launch, then the free agency price tag on Top 20% Biotech talent goes up.
During my career interviewing the top biotech talent (especially the last 3-4yrs) the top 20% talent w Biotech have base salaries in 170- 200k range! Pay for Performance is applied in Biotech. So when Amgen & Biogen had to hire the best of the best, the salaries were over 170k for a rep. You get what you pay for.
RDs (aka DMs in pharma world) are even more mind blowing, like 450k + total packages w co Stock the last few yrs for the top managers.

Point is, YES this topic & most posts are accurate and on the LOW end from my management yrs as a RD w Amgen & Biogen with RD/DM stops at Pfizer & Novo in 35yrs.
Many establish Biotechs are higher than what is being posted for Top 20% Biotech talent.
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I would say for the top 30% performers that you are 50-75k too low!
Biotechs are the best financially hands down if you can land there.
I heard over 130 reps posted for Biogen expansion and over 110 reps posted for Gilead expansion but not 1 rep got offered last month.
So those 2 companies are examples of how hard it is to land in Biotech--- especially the stable establish biotechs that have good stock and long term history. Not impossible but you better be in rarified elite air (HOF type of rep) just to me considered.
 




So true! You must’ve been an average Rep, I made $550k last year. Won every award, was on the stage the whole Florida meeting, 6 necklaces on my neck.

Keep at it, you’ll learn the biotech marketplace someday.

anonymous said:
If you are in IM, most are!

Bottom line:
Many biotechs are hiring and they mainly go after other Biotech reps. The few times they go after Big Pharma reps it is 100% time Specialty Reps like Oncology, Rare Diseases & Immunology.
The Base Salary is accurate & some co actually higher than this post--- 200k base for some biotech startups. But most new hires is 150-180k range. Once you are on board then pay grades are crazy high. MANY existing reps over 200k base.
The Bonus is also lot higher than big pharma, at 40-75k range depending on co & if it is a product launch.
The BIG DIFF that blows yearly Total Compensation out of the water is Co Stock. Every employee gets co stock & it is 100% stock, NOT Options, TRSUs etc that Pfizer & big pharma give their Execs & Managers which 70% expire worthless because of the strike price.
End Result is Total Yearly Comp about 100k more than big pharma. Reps make what Pfizer Managers make, Managers make what Directors make & some Tenure Management level make what VPs with Pfizer make.

It is what it is. Biotech is extremely hard to get hired onto, they have less employees (even Brand team is just a few people, Pfizer Brand teams are as many or more than the DMs!)
Also products are more expensive thus higher revenue & lot less expenses. You rarely see Biotech drugs on TV DTC every hour like big pharma who spend billions a yr on ad time.
Biotech is based in science that drives sales. Big Pharma like Pfizer is based on marketing & DTC to drive sales.

That is a long but accurate summary
Click to expand...
 








anonymous said:
So true! You must’ve been an average Rep, I made $550k last year. Won every award, was on the stage the whole Florida meeting, 6 necklaces on my neck.

Keep at it, you’ll learn the biotech marketplace someday.
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I know Biotech RDs make that much with there annual Stock, but you are no RD as can tell by your verbiage.
 
















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