Biotech paying reps 200k for 10yrs+ exp

[anonymous]

Big pharma is nice cozy comfortable living if you can navigate the dreaded layoffs every 3yrs.
However, Biotech is were you get riches.
Biogen Advance Science Cellgene Inzyte etc are paying 200k for reps who have 10yrs + of specialty experience. This is more than big pharma pays DMs and RDs

If you are a tenured successful specialty rep, check out biotech companies.
"You owe it to yourself & your family to talk with companies to find out your market value." ---per Xeljanz VP at NSM

 

[anonymous]

Big pharma is nice cozy comfortable living if you can navigate the dreaded layoffs every 3yrs.
However, Biotech is were you get riches.
Biogen Advance Science Cellgene Inzyte etc are paying 200k for reps who have 10yrs + of specialty experience. This is more than big pharma pays DMs and RDs

If you are a tenured successful specialty rep, check out biotech companies.
"You owe it to yourself & your family to talk with companies to find out your market value." ---per Xeljanz VP at NSM

Just figuring this out? Pfizerbots have never been cutting edge.

 

[anonymous]

Big pharma is nice cozy comfortable living if you can navigate the dreaded layoffs every 3yrs.
However, Biotech is were you get riches.
Biogen Advance Science Cellgene Inzyte etc are paying 200k for reps who have 10yrs + of specialty experience. This is more than big pharma pays DMs and RDs

If you are a tenured successful specialty rep, check out biotech companies.
"You owe it to yourself & your family to talk with companies to find out your market value." ---per Xeljanz VP at NSM

 

[anonymous]

I jumped 4 yrs ago and doubled my salary.

 

[anonymous]

I jumped 4 yrs ago and doubled my salary.

Most do double their Total Compensation.

Facts are Big Pharma traditionally was Primary Care, Internal Medicine, Family Practice products with maybe a few antibiotics flowing into a hospital setting. So for decades most Big Pharma reps were PC reps who make 50-80k a yr. A few Big Pharma had Oncology & Hosptial divisions which you got a 10-20% promotional raise to take ( so up to 80-100k salary)
All these ancillary products for Neuro Ortho Derms ect are still basically simple compounds with a PC model.
A few Big Pharma past 10 yrs have beanced into Rare Disease, Biologics, unique Cancer treatments and pay those reps 125-135k salary.

Now Biotechs while not big pharma ONLY focus on high science R&D with unique compounds for specialty. They are leaning with less payroll and middle men from Pres to Rep and have less employed at reach level thus more money to pay reps. Also bigger territories with 1 rep terr but thats another reason they can pay more.
So SALARIES are 150-200k for reps depending on the Biotech co.
But the big difference is BONUS- 50-75k vs Big Pharma of just 25-35k.
Finally the MONEY MAKER, Biotechs give ALL employees Co STOCK of 25-50k yr vs Big Pharma only Top 10-20 get and it usually Options w strike price & expiration not true Stock that you can keep forever----THAT IS WHY BIOTECHS ARE THE TOTAL WEALTH PACKAGE but the are selective & only hire litterally the best of the best because they do not have thousands of reps like Big Pharma, most Biotech sales forces just 50-100 reps.

Now for those who are not financially incline, take your Big Pharm package of avg 155k yr (125k +30k bonus) OVER 10 YRS & compare to Biotech's 250k - 300k yr (salary, bonus, stock )
Over 10 yrs that is an extra 1mil to 1.5million with no compounding or investing extra.
NO BRAINER.

The Advantage Big Pharma always had was they provided Pensions which could be 1mil after 30yrs. However, all but 2 co have terminated Pensions in the industry so those handcuffs are blown off.

If you are a tenure successful specialty rep who is highly valued in your field, you should look into Biotech (if really risk seeking roll dice on start ups but that is low odds like going for a lotto ticket)

 

[anonymous]

The Top Pipelines in Biotech according to Fortune.
- Gilead
- Biogen
- Incyte
- Celgene
- Advance Sciences
- Novo Nordisk

Ironically 5 of these Biotechs are also listed under Top Paying Companies.

With Big Pharma breaks up, spins off, and generating single digit returns, Biotechs are now the future.
Show me the money !

 

[anonymous]

But will they hire Pfizer Pholks?

 

[anonymous]

Celgene no longer exists. I was hem with them and if you weren't making 300 you were weak. Base of 185 with 120+ bonus, and 30k in equity was my norm.

I&I was less. Their base topped out at around 160 and their bonus was a stacked ranking so the very top could make 80k and 30k in equity.

 

[anonymous]

But will they hire Pfizer Pholks?

They will only hire Pfizer reps who are in that specialty area they are looking for and have prefer 15yrs exp with multiple awards the past 5yrs.
Basically the best Pfizer performers with long term experience

 

[anonymous]

Big pharma is nice cozy comfortable living if you can navigate the dreaded layoffs every 3yrs.
However, Biotech is were you get riches.
Biogen Advance Science Cellgene Inzyte etc are paying 200k for reps who have 10yrs + of specialty experience. This is more than big pharma pays DMs and RDs

If you are a tenured successful specialty rep, check out biotech companies.
"You owe it to yourself & your family to talk with companies to find out your market value." ---per Xeljanz VP at NSM

 

[anonymous]

Give it a rest bitch, you don't have the horses for it. They aren't looking for big pharma lifers

 

[anonymous]

Give it a rest bitch, you don't have the horses for it. They aren't looking for big pharma lifers

You are about as stupid as you sound.
Thats why Pres of 22yrs & VP of 25yrs both were hired by biotechs. Not to mention 2 prev VP over 20yrs left for biotechs.

You do not know what your talking about.

 

[anonymous]

Totally different league in C-Suite. Very rare on the rep level.

 

[anonymous]

Comfort live style then Big Pharma - Pfizer BMS Merck JJ etc

Wealthy lifestyle then Biotech with Employee Stock and big fat salaries.

 

[anonymous]

Close but for Biotechs like Gilead, Biogen, Inzyte the total is 250k plus but for reps breaks down more like
175 base,
40-60 Bonus
30-50k yearly Stock

Few Biotech rep base might be 150k w 75k Bonus and 50k Stock a year but still Total Comp about same 250+ just spread out differently .
Bottom line total is TONS more than big pharma, especially Pfizer and truly worth over Million more over 10yrs.

 

[anonymous]

If you've got the horsepower.

 

[anonymous]

Very true and might be even more with a few Biotechs. Large profit margins, small sales forces, big cash so can pay more per employee because does not have many reps like Big Pharma payroll is their top expense.

 

[anonymous]

Been w several biotechs and start ups.
The 240k plus total comp reference to pretty accurate w the establish biotechs. (Top 5)
Smaller biotechs base are lower but bonus potential is large w Stock option.

The 1 startup I was with, the base was low like 125k but 6 figure bonus and Company Stock thru the roof , like 10,000 shares a yr but stock usually is not public yet.

 

[anonymous]

Dont forget 4,-5% merit pay raises vs 2% at Pfizer

 

[anonymous]

Big pharma is nice cozy comfortable living if you can navigate the dreaded layoffs every 3yrs.
However, Biotech is were you get riches.
Biogen Advance Science Cellgene Inzyte etc are paying 200k for reps who have 10yrs + of specialty experience. This is more than big pharma pays DMs and RDs

If you are a tenured successful specialty rep, check out biotech companies.
"You owe it to yourself & your family to talk with companies to find out your market value." ---per Xeljanz VP at NSM

For the top 5 or so, this annual Total Comp is low. The value is lot greater, especially when u throw in co stock they all offer to reps.