What Are My Peers Making?

OK, now it’s interview time. What to wear? What are companies doing in terms of the interview process (remote or in-person)? This one is simple. Most companies are still doing 30-45 minute virtual interviews. We can all agree here: it’s more efficient. Some (maybe about 15-20%) are in person for final rounds. I’ve seen more sales roles in person than in-house positions. Virtual interviews are nice because you only need to dress up waist-up. Still business professional. Suit and tie are questionable (believe it or not). Some companies have rejected candidates post-interview because they “didn’t think they would fit within our culture.” Now on the flip side, I once had a candidate show up in a hoodie for a virtual interview…?

Can you guess what round they went to next? The virtual exit door. *Virtual facepalm*?

FYI, if you’re working with a good recruiter, they should be prepping you for each interview including what to wear, briefing you on the personality types of each person you speak with, and answering any questions you have.?

Fast forward (after multiple interview rounds). Offer time! If you made it this far without discussing the whole remote, hybrid, in-office work arrangements—RED FLAG! Don’t try to finagle your way through without discussing it either. It’s OK to ask questions.?

Side note: the pandemic has taken the word hybrid and given it even more meaning (and accurately so) than any other word. Most candidates think “hybrid” means once a quarter or maybe every other week in the office, whereas hiring teams tend to think it’s 3x per week. The funny thing is, everyone is technically right, right??

Can one negotiate the days in the office? Likely not. Why? Because (in most) cases, the team has hired team members or cross-functional partners who have made the commitment to move or be in the office during the time requested. Imagine being “that person” who has bent the rules. It can impact culture, team dynamic, etc. Those are the foundation of a team. NOBODY wants to risk losing that. No matter how good you are, most are not making exceptions. Especially as of recently, more companies are pushing for in-office work.?

Salary. Every company has a range (in HR terms “grade”) for any given role. A good recruiter can give you insight into those numbers. Again, this is an area that lacks transparency (but laws have helped with this issue). FYI, it is ILLEGAL for HR/recruiters to ask what your salary is. Not in every state (yet) but in almost every state where pharma/biotech is headquartered. My recommendation is to be transparent (especially if you’re “money-focused” ?? ). Below are some rough industry numbers to go off of for a given COMMERCIAL ROLE. Therapeutics can impact these slightly (example: oncology is typically the highest-paying therapeutic and will be higher than a diabetes marketing role). Most of these numbers are based off of higher paying Therapudics (oncology, hematology, rare disease).?

VP: 280k-325k (30% bonus)

Sr Director: 250-275k ?(+25 - 30% bonus)

Director: 220-240k ?(+25% bonus)

AD: 190k - 215k?(+20% - 22% bonus)

Senior Manager: 150-180k?(+15% - 18% bonus)

Manager: 120k - 150k (+12% - 15% bonus)

Next time you’re negotiating an offer, DO NOT go off of these, nor expect these. I put these out here because I believe in transparency. Have I worked on roles that are both higher and lower? Yes. Most companies- especially smaller should include equity. But if someone is going to criticize these numbers, I have placed candidates at these given levels with the given base salary. As you get above a director level, the potential to go above the range can increase. Keep in mind they likely have backup candidates who are requesting a lower compensation. Is it really worth it to reject a job because they came in 10k short of your asking? What is 10k (especially after taxes)? Think about your 5-10 year career plan….?

Last bit is vacation. This one is short, sweet, and simple. Can you negotiate it? No. In the over 35 years of being in business, there was only one person who was able to negotiate for added vacation time. It was a small company of under 500 people that did not have much of an HR department. This person came in at a VP level and it took about 3 weeks to go back and forth on. The company had the role open for about 4 months and they didn't want to risk losing this person. Most of the time, if you’re performing well, have a great relationship with your boss and have deadlines met, you can chat with them off the books and figure out a resolution. Parental leave for most companies is around 12 weeks paid. The lowest I have seen is 2 weeks.

If there is anything you got from this “chapter” it should be this: the hiring process is controlled primarily by HR, and at the end of the day, it’s their game and their rules. Ever play a game with a little kid and the kid makes up rules that make absolute no sense? When it’s a kid, you laugh it off and keep playing (likely to avoid a meltdown). But this “game” is much more important as it can impact your career, which impacts your family, your life, and arguably your health. Think about the above text as the “rules” to the game. Most games have just a short page with the rules and most of the time they’re pretty straight-forward.?

Well, sorry to break it to you but not this game. Most of the “rules” are not very transparent (compensation for example), and you lose the game and you don’t know why (no post-interview feedback), and sometimes you’re playing a little kid (internal candidate) and there’s no way you’re winning (getting the job).?

Don’t get me wrong, there are plenty of great HR folks. I imagine that there are a few reading this a little upset or salty. I’ll leave it at this: the world needs more of you. More transparency, more honesty and a more of a straight-forward set of “rules.”?

Lot’s discussed here and I am sure there will be questions. To those who have questions, please put them in the comments so others can see replies. If you do not want your question to be asked “publicly,” please message me and I’ll be happy to discuss it with you.

Cheers,?

Nick?