• Tue news: Pfizer explores sale of hospital drugs unit. FDA declines full approval of Ocaliva. AZ better than expected Q3 results. Pfizer, Lilly telehealth platforms draw scrutiny. 23andMe cutting lays off 40%. See more on our front page

Director level LTI

Quote




































The turnover rate is so high at BMS that no one ever gets to see any money on LTI.

For example, the 401K is also a 3 year vesting for the company match. BMS historically has this 3 year number since greater than 50% of new hires do not make the 3 year mark - simple math to not give immediate vesting.

Lots of promise(s) on the way in, but zip on the way out to someone's earlier point.

If LTI is your reason for staying then time to start looking because the actual work is non-rewarding.
 




anonymous said:
The turnover rate is so high at BMS that no one ever gets to see any money on LTI.

For example, the 401K is also a 3 year vesting for the company match. BMS historically has this 3 year number since greater than 50% of new hires do not make the 3 year mark - simple math to not give immediate vesting.

Lots of promise(s) on the way in, but zip on the way out to someone's earlier point.

If LTI is your reason for staying then time to start looking because the actual work is non-rewarding.
Click to expand...

Turnover here is a huge issue. Also tend to hire inexperienced people that we train up and out the door they go and year or two later.
 




anonymous said:
The turnover rate is so high at BMS that no one ever gets to see any money on LTI.

For example, the 401K is also a 3 year vesting for the company match. BMS historically has this 3 year number since greater than 50% of new hires do not make the 3 year mark - simple math to not give immediate vesting.

Lots of promise(s) on the way in, but zip on the way out to someone's earlier point.

If LTI is your reason for staying then time to start looking because the actual work is non-rewarding.
Click to expand...

actually the 401k vesting period was historically 5 years…there is a recent change that made it 3 years late last year.

That said, HR made it quite sneaky and convoluted:

401K match now vests after 3 years, 401k annual contribution by the company vests after 5 years still, and LTI RSU stock grants vest after 4, rolling each year.

so point is you aint never seeing those LTI.
 




anonymous said:
401K match now vests after 3 years, 401k annual contribution by the company vests after 5 years still, and LTI RSU stock grants vest after 4, rolling each year.

so point is you aint never seeing those LTI.
Click to expand...

each grant LTI vests 25%/year. You will always have some unvested LTI there if you choose to leave, but after a couple of years you get a nice chunk that vests and is available to you annually.
 




anonymous said:
each grant LTI vests 25%/year. You will always have some unvested LTI there if you choose to leave, but after a couple of years you get a nice chunk that vests and is available to you annually.
Click to expand...


But is the 401K vesting that is really, really shitty on BMS part. That is money that should be growing for you and not for BMS. It is all taken back if you don't last 3 years which is the worst in industry. All my other employers was immediate vesting. Why is BMS so sneaky?

Why am I still here when recruiters are calling 2X/day?
 




anonymous said:
But is the 401K vesting that is really, really shitty on BMS part. That is money that should be growing for you and not for BMS. It is all taken back if you don't last 3 years which is the worst in industry. All my other employers was immediate vesting. Why is BMS so sneaky?

Why am I still here when recruiters are calling 2X/day?
Click to expand...

BMS sneaky?? No way!! Everything and everyone is just great!! We have a great culture where people really care about patients.

Barf Barf Barf!!
 




anonymous said:
But is the 401K vesting that is really, really shitty on BMS part. That is money that should be growing for you and not for BMS. It is all taken back if you don't last 3 years which is the worst in industry. All my other employers was immediate vesting. Why is BMS so sneaky?

Why am I still here when recruiters are calling 2X/day?
Click to expand...

A 3 year vesting period for 401K is actually fairly good as far as benchmarks go. I've only ever worked one place that had a shorter period (and it was instant vesting). It vests 33% a year, so you don't 'lose it all' if you leave before 3 years are up. Most other pharma is 3-5 years.
 




anonymous said:
A 3 year vesting period for 401K is actually fairly good as far as benchmarks go. I've only ever worked one place that had a shorter period (and it was instant vesting). It vests 33% a year, so you don't 'lose it all' if you leave before 3 years are up. Most other pharma is 3-5 years.
Click to expand...

It is horrible and you must be a paid moderator from BMS to state otherwise!

Every other pharma company I have worked for had 100% vesting day one. This place is the worst of the worst.

Take your lies and move to Mara-Lago you classhole!
 












anonymous said:
A 3 year vesting period for 401K is actually fairly good as far as benchmarks go. I've only ever worked one place that had a shorter period (and it was instant vesting). It vests 33% a year, so you don't 'lose it all' if you leave before 3 years are up. Most other pharma is 3-5 years.
Click to expand...

can’t believe I have to spell this out for you terds.

again, the 401k MATCH (6% on base salary and bonus, dollar to dollar) vests after 100% after years, 33% per year.

the 401K ANNUAL CONTRIBUTION (which is either 3%, 4.5%, or 6% depending on age and years of service, and is given on base salary and bonus regardless of your own contributions) vests 100% after 5 years, 20% per year.

The company gives you between 9% and 12% for 401K contributions, which is really good compared to most other large scale pharma. Tell me another company that’s better, actually.

The LTI RSU stock grants start vesting after the first year, and is 25% per year, totaling out at 4 years after your initial award to completely vest, but every year you get a new one the cycle starts over again. So you’re always leaving money on the table.

damn you sales guys are dumb as rock.
 




Top Bottom
Back
Quote