bonus payout email

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I saw the e-mail tonight. While it is not the best situation for a bonus structure, it is a bonus. Also, it is exactly in-line with what they told me during the interview process. I was not suprised. Just never rely on your bonus to cover your monthly bills and see it for what it is a bonus that can be taken away at anytime by any company in pharma. Before taxes if you max it out and are in good standing when it is paid, you can add 18K to your salary.
 




Anonymous said:
I saw the e-mail tonight. While it is not the best situation for a bonus structure, it is a bonus. Also, it is exactly in-line with what they told me during the interview process. I was not suprised. Just never rely on your bonus to cover your monthly bills and see it for what it is a bonus that can be taken away at anytime by any company in pharma. Before taxes if you max it out and are in good standing when it is paid, you can add 18K to your salary.
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every pharma company is going to lower bonuses because of potential lawsuits and CIA agreements.. They dont want reps incentivized to work in the gray areas and do what they can to make outlandish bonuses ... in the long run for the company it is a loss and a nightmare to incentivize reps that much anymore for pharma.. get out of pharma! unless you have a high base like in the 80's and perks then it is good.. but 50k with a 10-18k bonus.. not very good and its only the beginning of the downfall of money to be made in pharma
 




Is 18k the most we can add to our salary if we meet the requirements? Are we capped at that amount? What if we blow out our numbers in the Midwest, like usual, can we not make more? And what about the diabetes drug we're going to launch, is our overall goal still only 18k?

Hell, I LIVE for launches to make some serious bonus money! It wouldn't surprise me, though, if we launch it successfully, make BI potentially hundreds of millions of dollars, and all they owe Ventiv - and subsequently us - is only a few million. Don't get me wrong, I'm glad to be working but it'd be robbery to do that to us..... and what would be my incentive to work if I didn't partake of those earnings to some degree?
 




Anonymous said:
Is 18k the most we can add to our salary if we meet the requirements? Are we capped at that amount? What if we blow out our numbers in the Midwest, like usual, can we not make more? And what about the diabetes drug we're going to launch, is our overall goal still only 18k?

Hell, I LIVE for launches to make some serious bonus money! It wouldn't surprise me, though, if we launch it successfully, make BI potentially hundreds of millions of dollars, and all they owe Ventiv - and subsequently us - is only a few million. Don't get me wrong, I'm glad to be working but it'd be robbery to do that to us..... and what would be my incentive to work if I didn't partake of those earnings to some degree?
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The Pradaxa launch is probably better than your launch will be, and our bonus sucks. BI is a very greedy company that wants to keep all of the money for themselves. They are greedy with their own people as well. If you came here to make launch money, you did the wrong thing. I hope you got a good base.
 




My base is above the company average but that wasn't one of the 'selling' points to this job. I remember the interviewer saying, "The target bonus is 18k for the year - and it's uncapped." That implied to me that if I'm 106% of a quota, I'd earn something MORE THAN or ON TOP OF OR IN ADDITION TO 18k for the year. If what you say is true, I have ZERO incentive to move the market share of the drugs I am assigned; at most, I am to say what they tell me to say and that's all. I sure hope you're incorrect. If true, I have an excellent part-time gig I can do on the side.

But how or why would any company (Ventiv or BI in this case) think it's fair to pay nothing "extra or on top of" for above-average performance (specifically pertaining to the launch of a drug)? If I use my prior relationships to get things moving (which I've done in the past), it seems that the only people to benefit would be the BI reps... not me. From My efforts I'd be putting more money into THEIR pockets, not mine. Maybe I can work out a deal with my BI counterpart, who has no relationships in my 14-year-run territory, to slip me some cash once we (or I) hit certain milestones; if he doesn't pay up during those initial 3-4 months, it's only a matter of leveraging my relationships to make the prescriptions cease altogether. I'm not trying to sound cocky but I imagine most everyone else in my shoes would do the same.

This will be interesting, to say the least. Thanks for the post.
 




Anonymous said:
My base is above the company average but that wasn't one of the 'selling' points to this job. I remember the interviewer saying, "The target bonus is 18k for the year - and it's uncapped." That implied to me that if I'm 106% of a quota, I'd earn something MORE THAN or ON TOP OF OR IN ADDITION TO 18k for the year. If what you say is true, I have ZERO incentive to move the market share of the drugs I am assigned; at most, I am to say what they tell me to say and that's all. I sure hope you're incorrect. If true, I have an excellent part-time gig I can do on the side.

But how or why would any company (Ventiv or BI in this case) think it's fair to pay nothing "extra or on top of" for above-average performance (specifically pertaining to the launch of a drug)? If I use my prior relationships to get things moving (which I've done in the past), it seems that the only people to benefit would be the BI reps... not me. From My efforts I'd be putting more money into THEIR pockets, not mine. Maybe I can work out a deal with my BI counterpart, who has no relationships in my 14-year-run territory, to slip me some cash once we (or I) hit certain milestones; if he doesn't pay up during those initial 3-4 months, it's only a matter of leveraging my relationships to make the prescriptions cease altogether. I'm not trying to sound cocky but I imagine most everyone else in my shoes would do the same.

This will be interesting, to say the least. Thanks for the post.
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Yes you will get paid above if you are above goal. What I mean to say is at least on my contract the goals and structure are stacked against you. There are some people making money, but BI is a greedy company and has set a playing field that is very difficult. I am preforming well, but my goals are so high for Q1 that I will make 0. Again, I am not on the bottom. I have one of the highest shares in my state. If you are in a state that tends to get managed care coverage easily and early you may be fine. If you are in an area of the country where you have early adaptors you may be fine. You already know if you are in one of these places. If you are in an area of challenges it will be more difficult. When they launched Viagra not every rep made money. There are a lot of variables. It is great you have a part time on the side. Always a good idea to keep options open. I hope you blow it out of the park and exceed all expectations. Good luck!
 








You hit the nail on the head when you stated you'd be putting money in the BI reps pocket while you got average bonus payout..welcome to contract world..Have seen it too often..Contract reps kick starts territory and make some bonus..company reps cruise along picking up more $, the trips, bonus awards (TVs, camera, travel etc) and still act like you're the red headed step child.
 




But that's so easily-remedied if one has the right relationships. The BI reps should get the picture if they're on top... winning trips, earning $$$... then all of a sudden their market share begins to fall. It's sometimes smart to let them realize (directly or indirectly) that it's not wise to bite the (literal) hand that feeds them. Simply explaining to prescribers the context in which we sell (as opposed to "real company" reps) goes a long way toward making things equal, fair and just in this world.

If the BI reps are wise enough to share SOMETHING from their coffers, that's another thing. We either all go up together or someone takes a tumble; either way, if I'm doing what's required of me for Ventiv, I get a decent bonus for doing not a whole lot, while their loss could be rather significant.

Time will tell.
 




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