What are you smoking?

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Anonymous

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Started with SP a number of years ago in the Research division. We rode high on PEG Intorn, Allergy, ID and had tons of studies to prop things up. Hep C, Allergy, Onc, (Womens health with the Organon takeover). Fast forward....Freddie screwed us all--L-SP and L-MRK. Bottom line, Feddie sold MRK a bill of goods. The poison-pill severence for L-SP ends at the end of the year. Then off to contract work.

Already raised my hand. Waitng game now.

I look at this site from time to time to guage the fear factor of the sales reps. Sometimes, I actually get some pertinent info. Mostly it's entitlement complainers. Appreciate the feedback from the tenured reps who represent a different time in medical sales.

I just can't believe the unrealistic expectations that the reps have for a career (job) that will take you into retirement. It's not going to happen. Stop looking at the mores that your parents grew up with.

At least they were smoking the good stuff.
 












They were smoking idealism and maybe some other stuff for recreation.
If you think that you can ride a company into retirement, or even keep your position more than five years you've been smoking some very old weed. It's potency has diminished.
 






"Sometimes, I actually get some pertinent info. Mostly it's entitlement complainers. Appreciate the feedback from the tenured reps who represent a different time in medical sales.

I just can't believe the unrealistic expectations that the reps have for a career (job) that will take you into retirement."
L-SP and over 50 rep here....There was a time when expecting to retire from pharma sales was a very realistic expectation....way back when the term "patent cliff" hadn't yet been coined. Glad for myself that I am very close to early retirement eligibility. Feel sorry for older reps who now have to compete with those in their 20's and 30's as they attempt to "start over". Contract jobs are only for soccer moms looking to supplement their husbands' income. Very sad situation this industry is facing.
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Anonymous said:
They were smoking idealism and maybe some other stuff for recreation.
If you think that you can ride a company into retirement, or even keep your position more than five years you've been smoking some very old weed. It's potency has diminished.
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So true. Got people here with mega years in who think they're entitiled to keep chugging along on a gravy train. Meanwhile their cushy retirement is a done deal, sealed in gold and locked away in waiting.

For the rest of us who might be low on the totem pole it's simply out the back door. A few trinkets, AKA just pennies. For some, a repeat on the get screwed experience.
 












Anonymous said:
So true. Got people here with mega years in who think they're entitiled to keep chugging along on a gravy train. Meanwhile their cushy retirement is a done deal, sealed in gold and locked away in waiting.

For the rest of us who might be low on the totem pole it's simply out the back door. A few trinkets, AKA just pennies. For some, a repeat on the get screwed experience.
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Even 10-20 is semi-sweet.
 






Anonymous said:
Started with SP a number of years ago in the Research division. We rode high on PEG Intorn, Allergy, ID and had tons of studies to prop things up. Hep C, Allergy, Onc, (Womens health with the Organon takeover). Fast forward....Freddie screwed us all--L-SP and L-MRK. Bottom line, Feddie sold MRK a bill of goods. The poison-pill severence for L-SP ends at the end of the year. Then off to contract work.

Already raised my hand. Waitng game now.

I look at this site from time to time to guage the fear factor of the sales reps. Sometimes, I actually get some pertinent info. Mostly it's entitlement complainers. Appreciate the feedback from the tenured reps who represent a different time in medical sales.

I just can't believe the unrealistic expectations that the reps have for a career (job) that will take you into retirement. It's not going to happen. Stop looking at the mores that your parents grew up with.

At least they were smoking the good stuff.
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Curious at almost 2AM and cant sleep. Whats the package like? Older rep here worried. Age working against me (well over 50) and not enough years in. Dread the reality of contract work and not being able to pay the bills.
 












Anonymous said:
31 years and still peddlin'. They're going to have to come get me and I can peddle pretty fast.
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You are already on a list. Be happy you have 30 years and know all those over 45-50 r on a future list. Piss or complain and u move up to a sooner year. HR keeps all the lists in the fault after your director reviews and begins each year determining ratings to follow the elimination plan. What is funny is the director is over 50 and on one of the vp lists. Bye bye!
 






Anonymous said:
You are already on a list. Be happy you have 30 years and know all those over 45-50 r on a future list. Piss or complain and u move up to a sooner year. HR keeps all the lists in the fault after your director reviews and begins each year determining ratings to follow the elimination plan. What is funny is the director is over 50 and on one of the vp lists. Bye bye!
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40-50 still young enough to stay on board. Over 55 is the main group caught in a BAD place.
 






Anonymous said:
Curious at almost 2AM and cant sleep. Whats the package like? Older rep here worried. Age working against me (well over 50) and not enough years in. Dread the reality of contract work and not being able to pay the bills.
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See "US Separation Benefits Program to be harmonized as of Jan. 1, 2012" under "US News" on following site:

http://one.merck.com/sites/gcc/en-us/Pages/Home.aspx

There is a "Separation Pay Schedule" outlining the number of weeks pay according to years of service. Document also covers medical, pension. Some difference if you are Legacy SP or Legacy Merck.

Note: If you are laid off in 2011, Legacy SP gets "change in control" package (same as those that were let go in Jan 2010), and Legacy Merck gets what is called "Topaz".

Hope this helps.
 






Anonymous said:
See "US Separation Benefits Program to be harmonized as of Jan. 1, 2012" under "US News" on following site:

http://one.merck.com/sites/gcc/en-us/Pages/Home.aspx

There is a "Separation Pay Schedule" outlining the number of weeks pay according to years of service. Document also covers medical, pension. Some difference if you are Legacy SP or Legacy Merck.

Note: If you are laid off in 2011, Legacy SP gets "change in control" package (same as those that were let go in Jan 2010), and Legacy Merck gets what is called "Topaz".

Hope this helps.
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Hmmmmm...separation agreement is cloudy for those short on service years (9-10) yet over age 49 and under age 64. ...seems like it could be a raw deal ... can anyone see through the mumbo jumbo?
 






Anonymous said:
Hmmmmm...separation agreement is cloudy for those short on service years (9-10) yet over age 49 and under age 64. ...seems like it could be a raw deal ... can anyone see through the mumbo jumbo?
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My interpretation is:

(1) if you are legacy Merck, and you are age 49 with 9 years of service, you receive a "pension bridge", as well as a "healthcare bridge". Otherwise, you have to be age 64 to qualify for this

(2) if you are legacy Schering, the same applies for medical, but the wording for pension is "The SP Retirement Plan doesn't include a bridge because separated employees are eligible for subsidized early retirement factors at age 55, regardless of age at separation. I take this to mean that if you are, say, age 50 at the time of separation, you will start receiving pension at age 55 (but no pension checks between age 50 and age 55; i.e., no "bridge")

Anyone interpret this otherwise???
 






Anonymous said:
My interpretation is:

(1) if you are legacy Merck, and you are age 49 with 9 years of service, you receive a "pension bridge", as well as a "healthcare bridge". Otherwise, you have to be age 64 to qualify for this

(2) if you are legacy Schering, the same applies for medical, but the wording for pension is "The SP Retirement Plan doesn't include a bridge because separated employees are eligible for subsidized early retirement factors at age 55, regardless of age at separation. I take this to mean that if you are, say, age 50 at the time of separation, you will start receiving pension at age 55 (but no pension checks between age 50 and age 55; i.e., no "bridge")

Anyone interpret this otherwise???
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Hypothetical ...... 5 years and 57 ....where does one stand?

Seems like nowhere. Bye bye might literally become buy, buy your own.
 






Anonymous said:
Hypothetical ...... 5 years and 57 ....where does one stand?

Seems like nowhere. Bye bye might literally become buy, buy your own.
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After 5 years you are "vested"....and since one can retire at 55 ("early retirement"), such a person ("5 years and 57") would receive a pension (granted, the amount won't be much). As far as medical, I do believe such a person would also be eligible for that as well, which is better than having to buy it completely on your own.
 






Anonymous said:
After 5 years you are "vested"....and since one can retire at 55 ("early retirement"), such a person ("5 years and 57") would receive a pension (granted, the amount won't be much). As far as medical, I do believe such a person would also be eligible for that as well, which is better than having to buy it completely on your own.
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Can you roast peanuts? your pension. Can you cringe? you medical insurance costs every month.

Look for another job. It wont be much at all.
 






Anonymous said:
My interpretation is:

(1) if you are legacy Merck, and you are age 49 with 9 years of service, you receive a "pension bridge", as well as a "healthcare bridge". Otherwise, you have to be age 64 to qualify for this

(2) if you are legacy Schering, the same applies for medical, but the wording for pension is "The SP Retirement Plan doesn't include a bridge because separated employees are eligible for subsidized early retirement factors at age 55, regardless of age at separation. I take this to mean that if you are, say, age 50 at the time of separation, you will start receiving pension at age 55 (but no pension checks between age 50 and age 55; i.e., no "bridge")

Anyone interpret this otherwise???
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I retired after 30 years and mine was a routine one. But my guess is even if bridge you to retirement; it only mean you can buy insurance through Merck as a retiree. But with 9 years your cost will not be cheap. You may not be able to tap into your pension until you are 55 the earliest? Better go check with the HR people. I have found them to be very helpful in answering my questions.
 






5 years 57.

As the other poster said...try getting another job ASAP. The pension, if thats what you can call it, will be minimal. Getting on another companies healthplan would probably be a lot less costly way to go.....

Anyone think differently?
 






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