Do BMY reps get stock options and/or RSUs? How often? How much? What is vesting schedule for both? Are there any bonus allotments during good years? Thanks, Worried Celgene Rep
Celgene reps get a combination of restricted stock units RSUs and incentive stock options ISOs every quarter. As a result, everyone is focused on maximizing sales instead of attending teleconferences. Additionally, Celgene reps who are rated in the top third each year receive additional equity awards which come solely as RSUs. Please tell me that at BMY, more than the executive leadership team gets skin in the game through equity awards? Please.
Celgene Rep. Run to the hills. Run for your life. Bristol Myers Squibb will re-define your perception of pharma, it is a primary care organization trying to disguise itself selling a major biotech product (even though the takeover is good in a business sense). Good thing this integration will take a few years - gives you time and "the buyout" potential. Take the buyout. The mid-points for base salaries are significantly lower than your organization. 133 sales / 152 home office The bonus max (also forced-ranked for sales) both internally and externally are significantly lower than your organization. 35 The stock options, not clearly defined for adequate distribution on the sales or individual contributor home office role (5k!>!>), are significantly lower than your organization. n/a The medical and vision benefits are significantly less adequate than your organization. lol The vacation (+ no end of year close this year) is significantly lower than your organization. 12 days Enjoy the ride.
Thank you for an honest answer. It’s clear that BMS doesn’t value their reps or home office individual contributors, and I look forward to my package and new opportunity as a result.
I know nothing about oncology and even less about inflammation because I sell Eliquis, but from my perspective, we are all about whatever makes the home office look good. They want calls, we enter calls. They want programs, we do programs. They want meetings, we do meetings. For so long, we have all accepted that we have decent benefits and low pay but very few are willing to do anything about it. My advice, find a job now and see if you can arrange to take it after getting laid off. You do not want to be here long term. Home office absolutely hates and resents the sales force.
I've talked with several of my Celgene counterparts and here's my take: BMY 401 superior to CELG CELG equity superior to non existant BMY CELG medical superior to BMY CELG vacation/holidays superior to BMY CELG fleet superior to BMY CELG meetings equal to BMY CELG culture far far far superior to BMY BMY C-suite superior to CELG BMY reputation in academic medical centers far superior to CELG BMY managed markets contracting far superior to CELG BMY trade reputation ok. CELG's non-existent so hard to compare.
This is why Celgene is done. Whining reps and no accountability culture. Advice is to not retain them because they’ll complain and never appreciate having a position. There’s nowhere to go in the industry right now and jobs are getting more scarce.
This is absolutely spot on. Whoever wrote this is telling the truth. Supposedly, 20% of the sales force each year gets some RSUs, But it is a really paltry amount and much of it is based on “behaviors” assessed by your manager so more likely that sycophants and suckups will receive them than a top seller. I got an allotment last year and it was literally $5000 that vests incrementally over four years so about $1200 a year. Now it’s like $800 a year because the stock is down so much...absolutely pathetic and does zero to retain me. The people I know who choose to stay only seem to stay for two reasons. They stay because it’s an easy part time job due to the giant pods or they stay because they’ve been here so long they’re looking at big severance pay outs and that’s it
Or they stay because they are to ignorant to do anything meaningful or relevant in the world. Driven by the dollars, and the hell with anything else. Even their own family.
