anonymous
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anonymous
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Biogen offered me a Bentley as my company car, even let me pick the color!
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"?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.
Sounds like the Derm reps and the past year Xeljanz reps.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"?
Which one?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.
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
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.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?
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)
If you are in IM, most are!You’re too wise for me my friend.
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.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
Yes Sir. That is an honest accurate assessment of biotechRetired 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.
I would say for the top 30% performers that you are 50-75k too low!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.
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
Post a pic of your Jesus Piece or we don't believe you.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.
I know Biotech RDs make that much with there annual Stock, but you are no RD as can tell by your verbiage.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.
Agree 300k package for Sr reps, but no Pfizer reps were hired so post is N/A to Pfizer15 yr specialty exp is a Sr Rep, 180k base, 60k bonus, 50k Stock
So 300k a yr total package.