A good and fair point...my belief is that at least financially the fall is far and/or hard. It’s pretty sad actually. It sounds for the most part that the relief is provided at least from a mental perspective. However, the financial fall is tough...real tough...especially for those who have allowed lifestyle to creep up without a solid savings plan and/or exit strategy. I know of very few “successful” exits from industry. In fact, one gal I know literally became an escort/lady of the evening. My take is that the money is so “easy”, the sense of entitlement becomes so big i.e. “I DESERVE a SUV, larger bonus, promotion” etc. that people’s perceptional becomes so skewed and it’s nowhere close to reality. 20+ years in and just a few thoughts for what they’re worth.
I had the BALLS to leave pharma!
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A good and fair point...my belief is that at least financially the fall is far and/or hard. It’s pretty sad actually. It sounds for the most part that the relief is provided at least from a mental perspective. However, the financial fall is tough...real tough...especially for those who have allowed lifestyle to creep up without a solid savings plan and/or exit strategy. I know of very few “successful” exits from industry. In fact, one gal I know literally became an escort/lady of the evening. My take is that the money is so “easy”, the sense of entitlement becomes so big i.e. “I DESERVE a SUV, larger bonus, promotion” etc. that people’s perceptional becomes so skewed and it’s nowhere close to reality. 20+ years in and just a few thoughts for what they’re worth.
I for one, never said how great things are and that I have moved on to greener pastures...My life has taken a terrible downturn (financially) since being pushed out of pharma in my 50s, after 23 years...My choices are either bottom feeder commission only jobs, or churn and turn stuff like Terminix, Living Spaces, etc...
I think what people mean when they speak of greener pastures, is that life is much more sane, and not having to lie everyday to keep up a charade, sort of frees the soul...So you feel more normal...But Lordy Mama I do miss the money, and not having to worry about what I spend every day...
Very true...great posting...I too know of very few people that recovered and went on to better money after pharma other than those that left in their 20s and 30s. (Smart) Those of us in our 40s and 50s that left or were pushed out, pretty much never recover...It really is a bubble when you're in it, and (as you say) there is a sense of entitlement that happens, where you (immediately after leaving pharma) can't believe companies aren't just knocking down your door to pay you 6 figures for working a part time gig...
Of course you do....but then again you probably wear embarrassingly tight slacks and have a Budda belly. At any rate...completely true...one time specialty rep of an incredibly popular product. Downward spiral to bankruptcy, alcohol & drug problems and eventual backpages Betty. Now living with a 400 lb. former John. I have no reason to lie/make this up. It’s stranger than fiction and really quite sad.
OP here: Its been two months and still figuring it out. I agree with your assessment. Easy money leads to entitlement. It similar to being born rich and not having to work for your money. Pharma is not a real sales job and many who transition into sales fail. Even reps who transition into medical positions (e.g., nurse or PA) don't always fair well. I have a friend who became a nurse and hates the money and another friend who became a PA and hates the hours. I don't know if I will be happy with my transition, but at least I tried. I am not afraid of failure and therefore I feel free.
I believe you. I once told my manager that the pharmaceutical industry was like prostitution. He loved my sense of humor and laughed.
Ha! Very true...in fact....turning true tricks might be more legit...cash payments; clear exchange of goods/services...
There IS life on the other side. I felt chained with the "golden handcuffs" and afraid to leave on my own as I have a family to provide for. After 11 years in the god forsaken pharma industry, in 2013 I was laid off, given a 6 month's severance package and able to collect UI for 12 months. I went back to school for 16 months to become an RN, with the goal of working as a community nurse. I work for an amazing company whose benefits are actually better than any pharma company I ever worked for. My salary is the same as pharma, and I work M-F. Sure I don't get a bonus or a company car. But I am free and so happy and get to drive a car of my choice 
The job I do now is actually important and I really get to impact my patient's lives daily. I am financially stable and also earned 2 pensions from my tenure in Pharma. I literally pinch myself everyday because I am so satisfied with my career, I am so happy that I was laid off as I felt like I didn't have the courage to leave on my own. There isn't a single thing I miss about Pharma!
The job I do now is actually important and I really get to impact my patient's lives daily. I am financially stable and also earned 2 pensions from my tenure in Pharma. I literally pinch myself everyday because I am so satisfied with my career, I am so happy that I was laid off as I felt like I didn't have the courage to leave on my own. There isn't a single thing I miss about Pharma!"It is way harder to fake every day"........says a lot about you and your work ethic
oh yeah cochise? what does it say exactly? that I am smart enough to take some easy money being
thrown my way for "work" that doesn't even exist?
come on you judgemental, "superior" tough guy? Let's hear about your honorable "work ethic!"
yeah, I thought so...
There IS life on the other side. I felt chained with the "golden handcuffs" and afraid to leave on my own as I have a family to provide for. After 11 years in the god forsaken pharma industry, in 2013 I was laid off, given a 6 month's severance package and able to collect UI for 12 months. I went back to school for 16 months to become an RN, with the goal of working as a community nurse. I work for an amazing company whose benefits are actually better than any pharma company I ever worked for. My salary is the same as pharma, and I work M-F. Sure I don't get a bonus or a company car. But I am free and so happy and get to drive a car of my choice
I had friend that also went into nursing, but she says the pay sucks. She is trying to get back into pharma.
you don't even know me dickwad...Tonto my ass...
I agree, I was one. I stayed in the top 3 all the time. Helped everyone. Kept my nose clean, didn't get drunk at meetings, went to my room to sleep after doing the mandatory socializing after the long dinners. I turned 41 and saw them get rid of me on a trumped up compliance charge that I got caught 'selling'/ not asking for patient experiences.
Ha, try to 'sell' that to the VP of Sales when they throw your name on a board and rank you on ROI value. Experiences are not scripts. So, this sales person got fired for selling. Carpe Diem!
Never stop making plans for your Plan B. Never.
I have an RN friend who is an MSL now..she earned her NP. Stay the course and be strategic. I earned another Masters and Manager a Scientific Network and leverage my sales skills bc i was in the industry early enough when I was young enough(90's) to go to REAL training programs and earn sales certifications that I apply in all that I do today.
Think smart, leverage what you know and work your Plan B
Balls, no.
Brains, yes.
good for you. great move. leave this industry to the women and weak men that can't sell their way out of a brown paper bag.
This is a great thread. I'll share my experience:
I was in pharma sales for 25 years. Back in 2008, when we used to have roommates at meetings, this guy told me how he was doing real estate on the side, and not having a side gig with this easy job is being really short-sighted. That made me think.
Let me back up for a second. I was only with 4 companies in 25 years. All great companies. I have 3 pensions that will exercise at retirement age. I think the sales training and on the job experience prepares you well for most sales jobs. I liked the pay and flexibility this occupation affords. I always got on well with my fellow sales people, had some good managers, some so-so managers, and one real a-hole manager. This a-hole is probably the main reason I left the industry, even after saying that I would never leave a pharma job because of a manager. Well, I think if I would have stayed any longer, I probably would have ended up knocking his teeth out, seriously.
I had started a business on the side a few years prior to my departure. The business tripled in revenue over the last few years, to the point I couldn't even get out of my office to do my pharma sales. Therefore, it was a great pleasure to be able to resign on my terms. I still have documented incidents that would get this manager fired in a heartbeat. I'm really tempted to submit a letter to HR and my former RM because everyone in the district was afraid if they spoke up, they would be managed out eventually. To any RMs who may read this post, there are probably sales people in your region right now that are unwilling to speak up to you or HR about their DM because of the no-win situation. Even though my former RM assured us that we would not be penalized, it is still a big risk to speak up. Is it even worth it for me to do it now? idk...
I knew this gig wouldn't have lasted forever but that's ok because I put my kids through college and I developed my side gig into a legitimate, sustainable business. Would I have done it over looking back? Probably not because I realize now what I was meant to do. Sorry to be vague. However, it was a pretty easy job that I only needed to work half days most of the time, and whole days if prepared for it. One of the hardest parts was saving good access offices to call on when my manager was with me. This wasn't because of laziness but more to the point that working more hours, making more calls wouldn't resulted in better numbers. It just would have been busy work.
If I can pass on any advice to would be or new pharma reps that want longevity in this industry, I would say: 1) always get your admin done on time, 2) have a daily goal of just a few things each day, 3) never mess with your expense report or samples (easy way to get fired), 4) write down names of as many people you can in the office or hospital so you can greet them by name, 5) don't stress about numbers or what your manager thinks of you. Some things you just can't control, 6) Choose well respected companies in desirable disease states (oncology, cardiology, endocrinology, immunology) so that your resume looks good when you have to move on. Let's face it, reps shouldn't stay with companies more than five years if they are stagnant, 7) Set a standard of respect you want from customers, managers, fellow reps, hiring managers, recruiters, etc. Most of those will push you around if you let them. Some couldn't hack it in sales and expect you to do the impossible even if they couldn't do a fraction of it when they were in sales, 8) Don't stress if your are interviewing and don't get the job. Most times you will be happy later that you didn't get the job because something better came along, 9) For god's sake, don't be one of those people reps who are always stressing about role plays at training or meetings. The script they want you to follow is basically meaningless in the real world but go along with it. Take your time, listen, ask questions during the role play and you will be fine, 10) Don't get roped into discussions with toxic reps who talk smack behind other's back or engage in inappropriate conversations at training or meetings, Furthermore, do not ever get into TMI conversations with your manager. If they insist on babbling about their sex life, who they don't like, racist comments. etc, just document it in a journal right away.
So good luck everyone, if it means staying within the industry or branching out in another field.
I was in pharma sales for 25 years. Back in 2008, when we used to have roommates at meetings, this guy told me how he was doing real estate on the side, and not having a side gig with this easy job is being really short-sighted. That made me think.
Let me back up for a second. I was only with 4 companies in 25 years. All great companies. I have 3 pensions that will exercise at retirement age. I think the sales training and on the job experience prepares you well for most sales jobs. I liked the pay and flexibility this occupation affords. I always got on well with my fellow sales people, had some good managers, some so-so managers, and one real a-hole manager. This a-hole is probably the main reason I left the industry, even after saying that I would never leave a pharma job because of a manager. Well, I think if I would have stayed any longer, I probably would have ended up knocking his teeth out, seriously.
I had started a business on the side a few years prior to my departure. The business tripled in revenue over the last few years, to the point I couldn't even get out of my office to do my pharma sales. Therefore, it was a great pleasure to be able to resign on my terms. I still have documented incidents that would get this manager fired in a heartbeat. I'm really tempted to submit a letter to HR and my former RM because everyone in the district was afraid if they spoke up, they would be managed out eventually. To any RMs who may read this post, there are probably sales people in your region right now that are unwilling to speak up to you or HR about their DM because of the no-win situation. Even though my former RM assured us that we would not be penalized, it is still a big risk to speak up. Is it even worth it for me to do it now? idk...
I knew this gig wouldn't have lasted forever but that's ok because I put my kids through college and I developed my side gig into a legitimate, sustainable business. Would I have done it over looking back? Probably not because I realize now what I was meant to do. Sorry to be vague. However, it was a pretty easy job that I only needed to work half days most of the time, and whole days if prepared for it. One of the hardest parts was saving good access offices to call on when my manager was with me. This wasn't because of laziness but more to the point that working more hours, making more calls wouldn't resulted in better numbers. It just would have been busy work.
If I can pass on any advice to would be or new pharma reps that want longevity in this industry, I would say: 1) always get your admin done on time, 2) have a daily goal of just a few things each day, 3) never mess with your expense report or samples (easy way to get fired), 4) write down names of as many people you can in the office or hospital so you can greet them by name, 5) don't stress about numbers or what your manager thinks of you. Some things you just can't control, 6) Choose well respected companies in desirable disease states (oncology, cardiology, endocrinology, immunology) so that your resume looks good when you have to move on. Let's face it, reps shouldn't stay with companies more than five years if they are stagnant, 7) Set a standard of respect you want from customers, managers, fellow reps, hiring managers, recruiters, etc. Most of those will push you around if you let them. Some couldn't hack it in sales and expect you to do the impossible even if they couldn't do a fraction of it when they were in sales, 8) Don't stress if your are interviewing and don't get the job. Most times you will be happy later that you didn't get the job because something better came along, 9) For god's sake, don't be one of those people reps who are always stressing about role plays at training or meetings. The script they want you to follow is basically meaningless in the real world but go along with it. Take your time, listen, ask questions during the role play and you will be fine, 10) Don't get roped into discussions with toxic reps who talk smack behind other's back or engage in inappropriate conversations at training or meetings, Furthermore, do not ever get into TMI conversations with your manager. If they insist on babbling about their sex life, who they don't like, racist comments. etc, just document it in a journal right away.
So good luck everyone, if it means staying within the industry or branching out in another field.