Company Cars and Christmas off

Isn’t one of his “flunkies” #1 in the company?

 

It’s funny how the bitching calmed down once the stock went up.

 

Good point, but also understood is that we don’t have a calling here, we don’t have a career here - we have a job and nothing more. It’s all part of the compensation package and an improved stock price improves my bottom line

 

A company car would improve everyone’s bottom line and help people make the decision to stay vs. leave because that’s what other comparable companies offer. Pretty sure I’m losing money every month on using my own by the time i factor in insurance cost, wear and tear, car payment, gas reimbursement. Make it better for everyone and get us cars!

 

I lost a lot of money while using my personal vehicle for this company. No sour grapes, I knew what I signed up for. I only hope the company does the right thing and provides a fleet vehicle to it's sales force.

 

Our region has lost a few people lately to better paying pharma jobs and better benefits. A company car, better bonus, better base and more vacation time. I understand we are a start up company but unfortunately people will leave for these things when the opportunity arises. Hopefully Collegium can work on improving these things to help employee retention. It is a good place to work overall!

 

I know its somewhat of a leap of faith, but my feeling is company cars are coming...eventually, at least. The big wigs made a bold move adding Nucynta to our bags and the scale having two (i guess arguably three?) products brings, and I'd imagine with that will come with a little more support for us reps in time. With that deal, overnight we went from a small startup company with a relatively modest amount of revenues next year to a similar sized company with a much larger revenue base. This assumes nearly all the DepoMed reps are canned, which i think is the expectation (sorry guys, but i heard the writing has been on the wall for quite a while). Crossing my fingers this means more support for the field force who now has a larger carrying case. I won't hold my breath waiting, but I can't see company cars not happening sometime next year. Staying positive!

 

A larger reimbursement with a fuel/maintenance/repair card would be better than a company car. Think about it. Many reps had to purchase cars for this position. If the company moves away from a reimbursement program, people will be stuck paying for cars that are worth less than what's owed.

 

Yes this is true. Either way something needs to happen. Collegium’s car allowance is way less than other friends who have had a car allowance! A gas card and maintenance plan would definitely help!

 

Everyone should get a few thousand back in taxes front the mileage deduction. Put that toward the car. It’s not perfect, but many companies are moving toward an allowance.

 

it sure seems like the industry as a whole is headed toward a policy of mileage reimbursement rather than company vehicles. I don’t blame management for only wanting to pay for the car’s life that’s used on the job. I laughed that the newest cars in the hospital lot always belonged to the guys bringing lunch. I guess those days are over for us

 

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Depreciation from excess mileage is a huge problem when it’s a personal car. The allowance covers the payment, not much else.

 

It is and that is precisely why the industry is moving toward allowances and mileage reimbursement plans. Shareholders & management are looking to trim the expenses and are passing the burden along to the reps and their families. The reasoning is why have the company saddled with the miles from our nights, weekends & vacations with a company car?

 

Many companies charge a fee for personal use and expect reps to cover gas on weekends.

The trend toward reimbursement is just another way Pharma companies cut expenses to increase their shareholder profit, passing on the finanacial burden to employees.

 

Has anything changed in these policies? I am interviewing now

 

Run

 

No, nothing has changed with these policies, generally speaking.
Don't listen to these negative commentors who just spew garbage. They don't even work at Collegium. They are either working at competitors (who all suck and are falling off the map) or are Wall Street negative nancies.

 

How’d those company cars work out for y’all?

 

Fine..mine is scheduled to arrive in a couple weeks. Christmas shut down was great!