What would you do?

[Anonymous]

I'm interviewing for a Patterson Dental TM position. I'm currently in Specialty Pharma and doing alright. Making around 85k plus car, credit card, and all expenses paid. I'm looking to get back to real tangible sales where I am in control and can affect the outcome . I have a background selling capital equipment prior to pharma so I know the difference. Everything on here says this position is awful $$$$ for 2-3 years and company BS constantly. Is a position with Patterson worth it? Are these other posters just disgruntled ex-employees?

 

[Anonymous]

Based on my experience I wouldn’t do it unless you have a very clear understanding of what your territory (account makeup) is going to look like ahead of time. You need to have at least $600,000 in existing business to start in my opinion. Also, who commands the majority of the market in your area? If it’s Patterson you will likely have a much more difficult time converting accounts because the accounts you will be given will all be ones that have cycled through numerous Patterson reps. There’s a reason no one wants these accounts.

Be aware that you will probably be given a base salary of 60 plus expenses for a few years. This means that you’ll do in the 70’s until you go commission only. If you can get your business up to around 1.5M within that timeframe you will do ok. The problem is that when you do go commission only you will start paying your expenses. If you do the math, at 1M in sales your annual income will be around 66,000 / yr. Now, minus your expenses, which range from $15,000 to $30,000 per year, and you are going to be earning around $40,000 to 50,000 per year. Even if you sell some equipment, you’re not going to earn a great deal more than that during the first few years after you go to straight commission.

Patterson is a great place to work because they do allow you to run your own territory. Especially compared to pharma. But, you will likely not make more money than your currently earning for at least 5 to 7 years.

 

[Anonymous]

I'm going to take emotion out of the equation and implore you to look at other options.

I was a specialty rep earning $120k plus car, ect. I was downsized and intentionally looked for a job outside the industry. I'd sold DME previously and was also aware of the difference.

No one disputes that the position is terrible- especially for the first 2-3 years. You'll hear that preached in training from the CEO down. I was prepared for that investment and excited to build a business that was sustainable and influenced directly by my efforts.

This is what I was not prepared for: The majority of my initial account list were not viable (specialties not in PDCO's 'wheel house', in collections, semi-retired and working for another reps DMD, etc). And, even if the others on my account list would have bought exclusively from me- I still wouldn't have hit $1mm in sales- the first milestone one is expected to hit to transition to the growth plan.

The growth plan pays about $70k per $1mm in sales (yet one pays their own expenses). So at year three you are essentially making what you made year one.

At year five one is expected to hit $2mm in sales (and pay their own expenses). So at that point one is potentially making $120k or so.

Lets look at your situation:

(1) Patterson will pay you $65k for the next 5 years (My base was $62k and those on the base plan get 5% comission on GP) then $120k year 5+ going forward.

(2) Your Current Company will pay you $92.5k for the next 5 years (assuming a car is worth $7.5k per year and no raises).

(3) Lets round down to a $25k difference annually between Patterson and your current company.

(4) So, you'll will essentially be investing $125k in your Patterson position over the next five years with the hope of earning $120+ in years 5 an beyond. Keep in mind that the avg territory is $2.2mm.

(5) I totally understand the nature and state of pharma and recognize there are few certainties. Yet, if you are considering Patterson (as multiple posts will point out) just recognize you will have little control over your $125,000 investment.

I really wish you the best in your decision.

 

[Anonymous]

Thanks for the responses. You both have provided valuable insight. The interview went well and I feel that the BM was actually honest about the comp plan and a realistic outlook on how long it would take to replace what I make now. Again....Thanks!

 

[Anonymous]

Thanks for the responses. You both have provided valuable insight. The interview went well and I feel that the BM was actually honest about the comp plan and a realistic outlook on how long it would take to replace what I make now. Again....Thanks!

So you are still considering the position???? OMG. Some of you will never learn.

PS: The BM is not being honest with you. It is worse than what he says.

 

[Anonymous]

No I will not take the position. Just takes too long to make $$$. My point was the BM was spot on with what the two replies to my original post said. Atleast there is some honesty with some of the Branch Managers.

 

[Anonymous]

I would run as a fast as I can away from any dental position. no money to be made in that industry and it is hard to get a real sales job after you have that big red flag on your resume after 2 years