Being recruited by GenPath

I am currently a successful device rep, but looking to increase income or move to management. In moving from Pathology capital equipment and molecular testing (reagents) to GenMark, I've been told average reps make 200K with guarantee of 120K in the first year. Currently my base is 80 with comp going into the mid 130's. For GenPath I'm told Low base of 65K, but expectation to close quickly is imperative. I understand nothing ventured, nothing gained. How does the company conduct business? I was told also that if I don't produce in the first 4-months that I wouldn't make it to five months. Then why guarantee first-year salary?? In capital, I produced 2-units in the first 6-months for equipment whose average cycle is 12-18 months. I'm hearing GenPath is much like pharmaceuticals, as my wife worked for Pfizer for 10-years. Waiting in an office to see an oncologist to beg him to send testing to my lab instead of Clarient or Plus, or LabCorp. I understand all sales is about relationships, but do I really want to make the transition from device to selling a service? Is this just a churn-n-burn type of company where reps only last a year? I can produce, but nobody wants to produce with a gun to their head-

 

Do you mind telling me what territory you are looking at? This makes a HUGE difference! Some territories are impossible and reps dont last at all....

Yes, There is a lot of pressure but management will work with you and give you a fair shot if they know you are working hard. (I have heard in the old days they would cut you after 3 months if you were not closing business fast... ) HOWEVER, if you close NO business after 3-4 months then you should know you are not cut for it.

I want to warn you however, That the reps that rock are the reps that have existing relationships with the oncologist and MAYBE pathologist. I see reps come that know every lab manager at every hospital which means nothing here!.... Your old hospital path and lab friends will tell you they are locked in a contract already and can't switch.... bottom line is, dont expect ANY of your hospital contacts (including pathologist) to switch to your lab. Assume you have to start from scratch with zero contacts.....

 

Thank-you for the reply. Looks like the territory is upstate NY, Albany, Westchester, Syracuse area. Apparently there is some existing business, but may or may not be turned over to me until I prove I can do well.

 

I was also told that they were looking for somebody to fill the spot "yesterday" as if the rep who did cover the territory left suddenly. Of course the recruiter didn't know why.

 

If you get an interview, ask how much is in the budget for gift cards. This is done regularly with the company, and quite illegal. If you're not used to giving them out, it's a gamble to do, but that's how the rock stars do it. Seriously!

 

Management is full of shit. Make sure you get everything in writing before hiring on.

 

any advice or previous knowledge of why so many SF CA reps have left in the last few years. is Cali a viable market place for this company competing against LabCorp and Quest??

 

no. how is a NJ lab going to compete against all the local labs in CA? With Hunter? uh, good luck with that.

 

Sorry to say this, but cali people are fucked. Labcorp/Quest owns the market with capitated agreements with HMO's and IPA's. Half a dozen competitors grabbing their ankles, hoping to be thrown a bone marrow is just sad.

 

http://finance.yahoo.com/news/bioreference-laboratories-inc-announces-strategic-123000820.html

 

Initial post is confusing - you sell device or capital?

And you will never wait in an office for an Onc (maybe a Uro or others) but you will set a lunch 4 months out and stalk him/her until then to get a few seconds.

To the guy mentioning Cali - yeah, I would say 40% capitated - plenty of business left over so this company must not have reps who understand the state or the market. It is spreading all over so everyone better understand it soon enough.

 

Device is the most recent industry I am in, which means I am used to high monthly quotes (due to high price of devices). What is a quota going to look like here on a monthly basis?

 

I am coming from medical device and used to some pretty high quota's, what does a typical quota look like for a rep here?

 

Pay is not based on quota. You earn around 6% for first year on an account, then 3% after that I believe. What they neglect to tell you during the interview process is that they only collect around 20% of the revenue you bring in. Don't do it. Stay in device.

 

So there is not quota that i am supposed to hit a month? Also are you saying that I would only get my 6% if they collect on it....wow...

 

Exactly! Shadiest company I ever worked for. So you're bringing in $500,000 a month for the company and they are only collecting $100,000 of that. They then turn around and pay you a measly $3000/month in commission for a $6,000,000 territory within a commodity market!! It's joke.

 

Wow, that is really bad. Thanks for heads up, I will just stay selling total joints.

 

Exactly. My commission checks were shit when I worked at GenPath... I would net MAYBE $1500 a month on top of a shitty base salary.

It's only going to get worse with the new 2014 cuts, and seeing that Flow and FISH are a sales persons bread and butter at GenPath, all I can say is, get your resumes ready!!

 

RUN!!! This company pays shit because the market has become a commodity over the last couple of years, and it will get worse in 2014 with the huge reimbursement cuts.

Not to mention, upper management and 90% of people that work in the corporate headquarters are total douches. Jersey people are the worst!

 

Only those with serious gift card giving skills need apply!! That's for you Tina and Chris!!