to person who replied above. You sound like me. I worked in the industry for many years, and I my last gig was inventive selling Advair. Docs loved Advair, but the GSK reps hated me, hid my samples, told me how to sell etc. I did have 26 years in before and made good money. I'm 63 now and bored, and I could use the money, but if you are....white & male your screwed. My tax returns for the 26 years is...I made $2.1 million.
I launched Cardizem, Carafate, Nicoderm, Lipitor, Rezulin,Crestor, Symbicort, and a few others. I loved most of my docs, and we had fun.
So I wish you the best, and hopefully a friend will get you in....good luck!
Yes, I should have added in my post above that I am a white male...So basically, forget it in the era of
social justice in the 21st century...It's a no go...As for having a friend get me back in the pharma industry,
I wouldn't touch that industry again no matter how good the money...Once you wake up and realize
what a charade the whole thing is, you can never go back...
You are doing well. I was in pharma almost 30 years. I had my house paid off when I was 45. I had one kid, and they are 38 now. So, what I did I put all the money I could into the 401k and Roth that I could. I lived off 25% of my gross income.I am 52 y.o with almost 29 years of pharma sales and still working in the field. I am probably OK for another two years in this role and I’m likely financially secure enough to squeak by fairly well afterward knowing I will likely never get a job in this industry, At least one that pays what I make now. I guess my question is does anyone have a full-time job with decent benefits after age 53 or 54 ? I don’t need to make a lot of money but I would like to have something with medical benefits of course because you just never know how things can change with health so quickly . I don’t have kids so that helps my financial picture. Really just throwing it out there to see how real world work life is after 30 years of pharmaceutical sales. If the scenario holds I will be finished at age 54 - still too young to retire but will have 30 damn years!
From nationwide lay-off in Pharma, spent 5 years as Home Health/Hospice Liaison. It's field business development/marketing for referrals. But, also meeting with patients and their families explaining Hospice MediCare Benefit. Found it very rewarding. Just recently retired at 62.
Its not that super glamorous job and that's what's out there. Why do you think that person is lying?
Hi,
I was devastated when let go as soon as i hit my 40's on some trumped up/bogus compliance charge.
I'm 50 now and so very glad to be out. I established myself on the healthcare administrative side and earned another Masters -MHA/MBA. I've advanced 3 times in this new career and find myself valuable due to years of experience before, during and after pharma. So, I dont feel threatened like I would in pharma to sustain my family. I
What are you doing with your pharma experience. It's really great experience to leverage, if you know how. I was trained in early 90s on the total sell via personalities and tailoring the conversation and close to that personality. As i need to gain buy-in with other cross-functional teams, I use my sales techniques conversationally to gain commitment and advance goals. I also learned how to multi-task, present and manage a crowd in pharma. I use that daily. Also, I stay current on technology implementation to streamline workflows.
Instead of complaining about what a waste of time Pharma has been. Share what you have done with your experience and how you've transformed it to pay your bills. If you havent learned how to do that, I hope this thread helps you. Every experience has something to gain from it.
Don't miss pharma at all. Starting Nursing School soon - doing last of prerequisites now... Hope to help push nothing but Generics on all my patients soon...
My friend is a PA - writes ALL generics. If i ever need a drug I tell my MD - I want generic - and I will tell them that if the generic is not covered or it is not the lowest copay - please answer your call you will be getting from my pharmacist. It is going to be the generic approved by my insurance at tier 1.
Couple of my previous customers((MD's) told me they are stuck in between a rock and a hard place. When they deal with all of this bullshit they want to quit their jobs.
It is even hard to get the right amount of generics let alone the BRAND NAME of many drugs.
One of them said - it's better to write a 50 y old drug that we know does treat a decease than these new novel drugs that aren't tested over years and years...
One of his colleagues is being sued for writing an injectable for a neuro patient who experienced severe side effect/ reaction to this "novel" drug. The patient went into coma and just imagine the rest...
NOT worth it with some of the drugs that slid by ... FDA is tightening up. There is no" free lunch"
at this point, just work for the government. its over for the sales people. too many regulations and micromanagement.
Started in pharma w/ Merck right out of college - good pay, easy work, boring as all hell. Hated all the plastic people. Got pissed at a new manager after 5 years and left in a huff. Missed the money and went back with Sandoz a year later. Much more fun company to work for THEN. After 4 years, got bored again and left the industry. 7 years later had a wife and toddler. Decided maybe it wasn't such a bad life after all - benefits, company car, off early for family events. After 28 years, got a divorce, gave the ex half of everything and retired. Now living comfortably but not opulently in California. I was fortunate enough to transition into the vaccine division of the company I worked with and that was a piece of cake. My advise? Stay away from pills. Once you snag a vaccine customer it's just regular visits to take inventory and orders. My daughter went to work with me once on 'Work with your daughter day' and she said, " I get it dad, you have friends and you just go visit your friends every day." I guess I was just lucky. I still have friends in offices that I called on after retiring 8 years ago.
True this. In pharma 20 years now. I have a good amount saved in IRA and 401K, but I have 2 friends who did 15-25 years with government. One just retired at 53 making 125K+ in retirement pension salary with lifetime health insurance and COLAs after 65. She is now double dipping. Her husband has 5 more years in Government and he will retire with a 100K per year pension salary...plus they have a fat IRA.at this point, just work for the government. its over for the sales people. too many regulations and micromanagement.
True this. In pharma 20 years now. I have a good amount saved in IRA and 401K, but I have 2 friends who did 15-25 years with government. One just retired at 53 making 125K+ in retirement pension salary with lifetime health insurance and COLAs after 65. She is now double dipping. Her husband has 5 more years in Government and he will retire with a 100K per year pension salary...plus they have a fat IRA.
The corporate way is no longer the best way. Government is it.
True this. In pharma 20 years now. I have a good amount saved in IRA and 401K, but I have 2 friends who did 15-25 years with government. One just retired at 53 making 125K+ in retirement pension salary with lifetime health insurance and COLAs after 65. She is now double dipping. Her husband has 5 more years in Government and he will retire with a 100K per year pension salary...plus they have a fat IRA.
The corporate way is no longer the best way. Government is it.
sounds like you will be swallowed by something you cant define. There will never be a socialism here.You are absolutely right...there is a name for this...Creeping Socialism...
True this. In pharma 20 years now. I have a good amount saved in IRA and 401K, but I have 2 friends who did 15-25 years with government. One just retired at 53 making 125K+ in retirement pension salary with lifetime health insurance and COLAs after 65. She is now double dipping. Her husband has 5 more years in Government and he will retire with a 100K per year pension salary...plus they have a fat IRA.
The corporate way is no longer the best way. Government is it.
Not all of their pension is coming off the backs of private hardworking employees as yourself. The public servants/employees pay taxes as well and government agencies themselves contribute to the retirement/ pension plans of the hardworking public employees. Some of the private sector taxes do go towards the pensions (which are calculated by years of service,highest salary and other ways) in exchange.All of their pension is coming off the backs of hardworking taxpayers.
Government is the problem not the solution
