There are too many bosses in Finance and not enough workers. So Basic Management 101 says ten employees for every boss. Are there 2 or 3 workers reporting to 1 boss like 2 Analysts reporting to 2 Directors reporting to 1 Executive Director. The results are too many levels and too high of pay for the work being done. An easy fix would be flattening of structure and huge savings. Finance needs to set example on savings front. Stockholders need to see savings.
I could not agree more. I work in Finance and it seems that our managing directors do nothing but give instruction. I like to call them "arm chair warriors". These are Merck lifies who probably make over $150K plus bonus a year to tell lower level staff what color the bars should be in the stupid reports they want us to prepare. What a joke.
"....Probably make over $150k....." if you were really in finance you'd know the pay band ranges - or you're a peon about to go the way of Genpact. Lifers making anything under $225k with a director or above title are total failures.
Can't live on 225k. Who ever makes that should leave. They are way underpaid. You can go to a financial company and make 300k. You are not adding stocks. Maybe 225 base. Still a little low.
_________________________________________________________ 225K is lots of dough for PA/Western NJ. There aint many people making 300 at financial companies. The Street pay is way over that but they are not looking for new pharma peeps.
Not much different between the jobs. Numbers are numbers. SEC is the SEC. Simple, we don't hit internal numbers we cut people. You don't think we would cut ourselves? That would not be fun. Who wants to be out of a job? Better production and R&D. They don't do much and have lost their moral compass. Who better?
Just about 7 years ago they set up the finance Centers of Excellence (COEs). A bunch of people were cut setting them up but, in the scheme of cuts across other areas they were small. Then came COMET, a few more cuts, then the merger. Most finance people survived that because they did a lot of integration work. Now will be their turn to be treated like IT and R&D before them. Genpact will run entire back office processes and all but a few finance managers will be wiped away. The few left will manage the Genpact process and approve their invoices. So if you are in finance reach out to your IT and R&D castoffs to ask them what it was like just before the hammer fell. You'll hear scenarios just like the ones you have unwittingly been living out recently. Good luck.
Former R&D here. It was miserable working in MRL the last few years. My advice, just stop caring about it because in te end nothing u do will make any difference. Chances are the decisions have been made already, and ironically for u guys, it's probably the bean counters calculating how expensive u are, pension, future cost to retain you etc. enjoy the rest of your time there and be happy to get paid for doing nothing. Whatever u do, do find another job before they let you go. Stick around for the package. They make it miserable hoping people will voluntarily leave. Stick it to the man one last time. Take the package.
_________________________ I am not sure = magenta or fuschia. Too many decisions with two direct reports. How can other directors manage ten? I'm going to lunch now.
