Salary

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anonymous said:
What is the salary for sales reps?
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$67-72K - among the lowest base salaries in the industry. The composition of the sales force is mostly people new to the industry (and the company regularly boasts about the performance of their inexperienced hires) and older, experienced, formerly displaced reps looking for a landing pad. Salesforce composition looks a lot like those of Contract sales (e.g., Syneos, IQVIA, etc.). Most reps will earn the industry-standard bonus of around $20K for the year. A few will earn $30+K. Car allowance less than $600 for most. The job itself is basically an enhanced primary care position - they add Cardiologists and a few Endos to the call plan. Most will sell in a pod structure with a partner. Micromanaging company culture. Company is a possible acquisition target.
 






anonymous said:
$67-72K - among the lowest base salaries in the industry. The composition of the sales force is mostly people new to the industry (and the company regularly boasts about the performance of their inexperienced hires) and older, experienced, formerly displaced reps looking for a landing pad. Salesforce composition looks a lot like those of Contract sales (e.g., Syneos, IQVIA, etc.). Most reps will earn the industry-standard bonus of around $20K for the year. A few will earn $30+K. Car allowance less than $600 for most. The job itself is basically an enhanced primary care position - they add Cardiologists and a few Endos to the call plan. Most will sell in a pod structure with a partner. Micromanaging company culture. Company is a possible acquisition target.
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Wow, this is spot on. It is weird how they boast about the performance of their inexperienced hires all of the time. Look where most of them are located, in territories that traditionally do well in every company regardless of who’s in territory- NY, NJ, TX, CA, HI, FL. Where docs will write branded to help reps and where patients can afford to pay
 






anonymous said:
$67-72K - among the lowest base salaries in the industry. The composition of the sales force is mostly people new to the industry (and the company regularly boasts about the performance of their inexperienced hires) and older, experienced, formerly displaced reps looking for a landing pad. Salesforce composition looks a lot like those of Contract sales (e.g., Syneos, IQVIA, etc.). Most reps will earn the industry-standard bonus of around $20K for the year. A few will earn $30+K. Car allowance less than $600 for most. The job itself is basically an enhanced primary care position - they add Cardiologists and a few Endos to the call plan. Most will sell in a pod structure with a partner. Micromanaging company culture. Company is a possible acquisition target.
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Well said. Ty
 






anonymous said:
Wow, this is spot on. It is weird how they boast about the performance of their inexperienced hires all of the time. Look where most of them are located, in territories that traditionally do well in every company regardless of who’s in territory- NY, NJ, TX, CA, HI, FL. Where docs will write branded to help reps and where patients can afford to pay
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Yep and in the biad territories they pair up an experienced rep with a non experienced rep. I thought the bonus was uncapped! I heard there were reps making that much per quarter in bonus, not per year!
 






Many companies today use equity as a lure in recruitment. In many cases, lower base salaries are accepted in return for equity. Candidates hear stories of instant riches when a successful company is sold. When a company post-pones it's acquisition, some employees grow impatient and retention and engagement suffers.
 






anonymous said:
Yep and in the biad territories they pair up an experienced rep with a non experienced rep. I thought the bonus was uncapped! I heard there were reps making that much per quarter in bonus, not per year!
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You can find a few reps at just about any Pharma company that have a great year and make bank, but the exception proves the rule. And more than likely their goals will be jacked the following year, making it nearly impossible to hit that bar again. That's how the game is played. You need hit goal every quarter to make the $36K+ (uncapped) bonus. Most will not come close. They're making huge profits off Vascepa, but they're still as cheap as ever in how they operate, and that goes for the IC payouts, as well.
 






anonymous said:
You can find a few reps at just about any Pharma company that have a great year and make bank, but the exception proves the rule. And more than likely their goals will be jacked the following year, making it nearly impossible to hit that bar again. That's how the game is played. You need hit goal every quarter to make the $36K+ (uncapped) bonus. Most will not come close. They're making huge profits off Vascepa, but they're still as cheap as ever in how they operate, and that goes for the IC payouts, as well.
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They want to keep profit high and spending low. Including car allowances instead of company cars. This has got to be so they’re an attractive buy out candidate
 






anonymous said:
You can find a few reps at just about any Pharma company that have a great year and make bank, but the exception proves the rule. And more than likely their goals will be jacked the following year, making it nearly impossible to hit that bar again. That's how the game is played. You need hit goal every quarter to make the $36K+ (uncapped) bonus. Most will not come close. They're making huge profits off Vascepa, but they're still as cheap as ever in how they operate, and that goes for the IC payouts, as well.
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I was told some reps make 35K per QUATER on bonus is that right?
 










































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