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Bonuses - The New World Ain't Pretty

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Anonymous

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You heard it here first, well maybe you heard this before. The new bonus system sucks. They did a lot of spinning last year to postpone the bad news and the pain. The pain has arrived and you'd better brace yourselves for a big reduction in your bonus. All this multiplier and target corporate speak is just blah blah blah intended to hide the real story that bonuses in the future will be a lot lower, period!

Yes, yes, still a good place to work (not great) and yes yes, pay and benefits are still good (OK for now), and yes yes, we get stock options (and they are not worth much) BUT this constant dwindling of the value they place on employees since the Roche mothership came calling is starting to play out. Many of you predicted it here, and has taken a bit longer to happen, but here it is. We will see those employee survey scores go from 60 to 50 and not to 80.
 

<



agreed. However....are the bonuses better somewhere else? If they are, what's the pipeline look like? It's one of those things, you've got to figure out for yourself what's most important to you. If it ends up that the balance is off as a result of the new bonus structure, pack up your bags and leave.
 




I think the matter is not one of comparison to other places, but the constant deterioration of this one. Just one more thing....

Management credibility is out the window. Trust? Ha! Go the extra mile? Forget it! We will become like Roche was in the US. An old, staid, bureaucratic machine with stability for those who chose to play the game.
 




Anonymous said:
I think the matter is not one of comparison to other places, but the constant deterioration of this one. Just one more thing....

Management credibility is out the window. Trust? Ha! Go the extra mile? Forget it! We will become like Roche was in the US. An old, staid, bureaucratic machine with stability for those who chose to play the game.
Click to expand...

word
 




Anonymous said:
I think the matter is not one of comparison to other places, but the constant deterioration of this one. Just one more thing....

Management credibility is out the window. Trust? Ha! Go the extra mile? Forget it! We will become like Roche was in the US. An old, staid, bureaucratic machine with stability for those who chose to play the game.
Click to expand...

And that would be different? Just because we're not allowed to piss money away and create more useless departments anymore?
 




Anonymous said:
I think the matter is not one of comparison to other places, but the constant deterioration of this one. Just one more thing....

Management credibility is out the window. Trust? Ha! Go the extra mile? Forget it! We will become like Roche was in the US. An old, staid, bureaucratic machine with stability for those who chose to play the game.
Click to expand...
Sorry but the bonuses were great at Roche.
 








Anonymous said:
You heard it here first, well maybe you heard this before. The new bonus system sucks. They did a lot of spinning last year to postpone the bad news and the pain. The pain has arrived and you'd better brace yourselves for a big reduction in your bonus. All this multiplier and target corporate speak is just blah blah blah intended to hide the real story that bonuses in the future will be a lot lower, period!

Yes, yes, still a good place to work (not great) and yes yes, pay and benefits are still good (OK for now), and yes yes, we get stock options (and they are not worth much) BUT this constant dwindling of the value they place on employees since the Roche mothership came calling is starting to play out. Many of you predicted it here, and has taken a bit longer to happen, but here it is. We will see those employee survey scores go from 60 to 50 and not to 80.
Click to expand...

OK here we go. Genentech (RIP!) had great R&D but was not a well run commerical operation. All Companies do benchmarking, and I mean all, so if Roche came to the realization that a part of the organization was being over paid, so be it. I know a rep in Avastin that was routinely making over 200K per year, in fact he showed me his W2 last year, and it showed almost 250K; and he wasnt even number 1.

As previous posters have already stated, this is all relevant. I assure you that relative to other companies, you are doing pretty good. Beside, bonus is just that "BONUS". It is not gauranteed, and you should not rely on it year to year is SALARY.

With more than 70,000 unemployed reps on the market,and such a cushhy and cake job, I assure you that there are many that would take your 100K+ bloated salary, your 700+ monthly car allowance (soon also to be gone), and your thre day a week schedule, for NO BONUS AT ALL!

Stop acting like the stereotypical overpaid, and underworked drug rep and just appreciate what you have. The bottomline is that you have very few alternatives.
 
















Genentech (prior to Roche) did benchmarking studies to determine where they were in relation to salary. They wanted to be in the top 10% for "like companies". The plan was to pay the best the best every year. Since the likes of ian and Kent showed up, it has been about paying your buddies that you brought along from their prior employers. This happens everywhere but was never allowed to take place at Genentech. Thebest received the most, not the ones who sucked up the best or longest.

Roche was not the downfall of the great company that was Genentech but the folks like Ian and Kent were the reason.

Ian and his crew started the custom of retaining a portion of everyones stock, salary, and bonus and redistributing it to "high acheivers". Funny how they were always the same people that followed them around with their nose up their butts who had benn brought over to Genentech.
 








Anonymous said:
Genentech (prior to Roche) did benchmarking studies to determine where they were in relation to salary. They wanted to be in the top 10% for "like companies". The plan was to pay the best the best every year. Since the likes of ian and Kent showed up, it has been about paying your buddies that you brought along from their prior employers. This happens everywhere but was never allowed to take place at Genentech. Thebest received the most, not the ones who sucked up the best or longest.

Roche was not the downfall of the great company that was Genentech but the folks like Ian and Kent were the reason.

Ian and his crew started the custom of retaining a portion of everyones stock, salary, and bonus and redistributing it to "high acheivers". Funny how they were always the same people that followed them around with their nose up their butts who had benn brought over to Genentech.
Click to expand...


Bench marking is not a "one and done" proposition. In a climate where there are over 70,000 and counting, unemployed reps, who would take your job in a heart beat, why continue to over pay. Pharma or "biotech" reps that make 150k, 200k, even some at 250k is clearly outrageous. Im glad someone woke up and started running this place like a business.
 








Anonymous said:
You heard it here first, well maybe you heard this before. The new bonus system sucks. They did a lot of spinning last year to postpone the bad news and the pain. The pain has arrived and you'd better brace yourselves for a big reduction in your bonus. All this multiplier and target corporate speak is just blah blah blah intended to hide the real story that bonuses in the future will be a lot lower, period!

Yes, yes, still a good place to work (not great) and yes yes, pay and benefits are still good (OK for now), and yes yes, we get stock options (and they are not worth much) BUT this constant dwindling of the value they place on employees since the Roche mothership came calling is starting to play out. Many of you predicted it here, and has taken a bit longer to happen, but here it is. We will see those employee survey scores go from 60 to 50 and not to 80.
Click to expand...

It is not a good place to work. The benefits are not that great. Roche was more supportive of its employees. Genentech's arrogance is intolerable. What they instill in their managers is rule by fear. You have no contribution as an employee. You just do what you are told and do it the Genentech way or your life is stressful. Forget managing your territory and owning your business. There is no ingenuity or seeking opportunities. This is the worse company I have ever worked for. And the display at the meetings and wasted money spent on lavish concerts etc is absurd. People struggle to afford meds, people lose their jobs and the company still acts arrogant. It is embarrassing. How about a little scrutiny and dignity.
 








Anonymous said:
It is not a good place to work. The benefits are not that great. Roche was more supportive of its employees. Genentech's arrogance is intolerable. What they instill in their managers is rule by fear. You have no contribution as an employee. You just do what you are told and do it the Genentech way or your life is stressful. Forget managing your territory and owning your business. There is no ingenuity or seeking opportunities. This is the worse company I have ever worked for. And the display at the meetings and wasted money spent on lavish concerts etc is absurd. People struggle to afford meds, people lose their jobs and the company still acts arrogant. It is embarrassing. How about a little scrutiny and dignity.
Click to expand...

true!
 












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