This is still a lousy organization!

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anonymous said:
In contrast to This is still a wonderful organization, we should take the high road and let this joker in HR know how we really feel.

Let the fun begin!
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40 years total in industry. BMS ranked just above hell in my humble opinion. Usually the start ups were better for industry vets.

BMS is good if you need a job - but not a career.
 






Many of those 30-40 year vets were around when big pharma paid out huge stock packages and pensions. Sticking around until retirement age means you get the full pension. I know a rep who retired from Merck at 50 using their old rule of 65 (age plus years of service) with a full pension. He went on to work at JnJ until 60 and is now eligible for their pension. Two pensions plus seven figures in company stock. How nice it must be knowing you have a paycheck worth about 85% of your five highest working years that will show up every two weeks for the rest of your life. Subsidized healthcare benefits too. Newer reps who joined after the gilded age will never see financial benefits like that. So it doesn't make sense to those folks that someone would stay the course until retirement.
 


anonymous said:
Many of those 30-40 year vets were around when big pharma paid out huge stock packages and pensions. Sticking around until retirement age means you get the full pension. I know a rep who retired from Merck at 50 using their old rule of 65 (age plus years of service) with a full pension. He went on to work at JnJ until 60 and is now eligible for their pension. Two pensions plus seven figures in company stock. How nice it must be knowing you have a paycheck worth about 85% of your five highest working years that will show up every two weeks for the rest of your life. Subsidized healthcare benefits too. Newer reps who joined after the gilded age will never see financial benefits like that. So it doesn't make sense to those folks that someone would stay the course until retirement.
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There’s no retirement benefit at BMS. I was not offered medical coverage and I have to wait for Medicare. I was laid off, over 30 years at BMS… no discussion, no goodbye, no information, no retirement card, nothing. I was just told I am able to a medical plan for $1400 a month for me or way more if I add my family. So much for retiring at BMS. Such a sad ending to what was a great career up until a couple years ago.
 




anonymous said:
There’s no retirement benefit at BMS. I was not offered medical coverage and I have to wait for Medicare. I was laid off, over 30 years at BMS… no discussion, no goodbye, no information, no retirement card, nothing. I was just told I am able to a medical plan for $1400 a month for me or way more if I add my family. So much for retiring at BMS. Such a sad ending to what was a great career up until a couple years ago.
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There are people who were forced to retire with 10 years working at BMS. Healthcare is a complete mess and you have no healthcare because they will not take you upto your retirement age. In a time when people have kids in their late 30s and 40s it is just impossible to retire before the basic retirement age in this country. People left high and dry. If there is an age to start Medicare, that should be the retirement age. Race is such a big talking point but age is a discarded topic. There are 50 year olds with 10 year old children. There are others who worked great but never made it to senior positions and they do not have the resources to retire. They live in misery if pushed out early. The decision makers need to be of a diverse group. However, McKinsey, the layoff decision maker for BMS is a brat organization and not a diverse organization with people of all ages. These individuals have no care or respect for older employees.
 




anonymous said:
WtF are still working for after 40 dang years?
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I retired, thanks. I should have prefaced that so not to be misinterpreted. BMS was just about the lowest point of my career in NJ. Plainsboro was dysfunctional to say the least. I cannot imagine it got any better at PPK.

Wishing everyone well as the best advice my manager gave me at the time was to get out before being pushed out.
 






anonymous said:
Wishing everyone well as the best advice my manager gave me at the time was to get out before being pushed out.
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This is excellent advice. By age 50, even if you plan to work another 10-15 years, you must be prepared for the rug to get pulled out from under you. Your exit plan should be fully fleshed out. Mortgage paid off or darn close. College funds mapped out for the kids.

Other useful advice is to live well below your means. Learn to live on a single income in a two income home. Save as much as you can by maxing out 401K, IRA, etc. Don't buy a million dollar home if it means 50% of your income is going to be tied up in a monthly payment.
The world has conditioned us to accumulate debt. Don't fall for it. Forego the luxury purses, jewelry and cars. Everyone has them and nobody is impressed. Debt makes you a slave to your company and your paycheck. Debt traps you in a miserable job tied to a toxic boss (who is probably running on the treadmill trying to cover their monthly nut). Financial freedom provides peace of mind and allows you to navigate your career on your terms. It also enables you to pivot easily and with dignity in the event of a layoff or termination.

A lot has changed over the years in pharma. We are all 100% disposable and replaceable. A RIF can come out of nowhere. There is little to no humanity in the decisions made so take care of yourself first.
 


anonymous said:
This is excellent advice. By age 50, even if you plan to work another 10-15 years, you must be prepared for the rug to get pulled out from under you. Your exit plan should be fully fleshed out. Mortgage paid off or darn close. College funds mapped out for the kids.

Other useful advice is to live well below your means. Learn to live on a single income in a two income home. Save as much as you can by maxing out 401K, IRA, etc. Don't buy a million dollar home if it means 50% of your income is going to be tied up in a monthly payment.
The world has conditioned us to accumulate debt. Don't fall for it. Forego the luxury purses, jewelry and cars. Everyone has them and nobody is impressed. Debt makes you a slave to your company and your paycheck. Debt traps you in a miserable job tied to a toxic boss (who is probably running on the treadmill trying to cover their monthly nut). Financial freedom provides peace of mind and allows you to navigate your career on your terms. It also enables you to pivot easily and with dignity in the event of a layoff or termination.

A lot has changed over the years in pharma. We are all 100% disposable and replaceable. A RIF can come out of nowhere. There is little to no humanity in the decisions made so take care of yourself first.
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so well said, and especially applies to BMS where we are all actively being pushed out directly or indirectly. Don't be fooled by "people week" or anything other "__ week". BMS HR and higher ups are out to get rid of us
 


anonymous said:
This is excellent advice. By age 50, even if you plan to work another 10-15 years, you must be prepared for the rug to get pulled out from under you. Your exit plan should be fully fleshed out. Mortgage paid off or darn close. College funds mapped out for the kids.

Other useful advice is to live well below your means. Learn to live on a single income in a two income home. Save as much as you can by maxing out 401K, IRA, etc. Don't buy a million dollar home if it means 50% of your income is going to be tied up in a monthly payment.
The world has conditioned us to accumulate debt. Don't fall for it. Forego the luxury purses, jewelry and cars. Everyone has them and nobody is impressed. Debt makes you a slave to your company and your paycheck. Debt traps you in a miserable job tied to a toxic boss (who is probably running on the treadmill trying to cover their monthly nut). Financial freedom provides peace of mind and allows you to navigate your career on your terms. It also enables you to pivot easily and with dignity in the event of a layoff or termination.

A lot has changed over the years in pharma. We are all 100% disposable and replaceable. A RIF can come out of nowhere. There is little to no humanity in the decisions made so take care of yourself first.
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50 and even 60 is not old and no, what you say is not possible for everyone. You are either an entitled 50 year old or an inexperienced 30 year old. A 100 years back 50 was older when people had kids at 15 and died by 60. Neither is this the era of Ancient Greece when the lifespan was 35 or 40. Grow up.
 


anonymous said:
50 and even 60 is not old and no, what you say is not possible for everyone. You are either an entitled 50 year old or an inexperienced 30 year old. A 100 years back 50 was older when people had kids at 15 and died by 60. Neither is this the era of Ancient Greece when the lifespan was 35 or 40. Grow up.
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You don’t know what you are talking about. The original poster of this is right. I know this happens - saw it happen at BMS. Stop making irrelevant comparisons to Ancient Greece.
 


anonymous said:
50 and even 60 is not old and no, what you say is not possible for everyone. You are either an entitled 50 year old or an inexperienced 30 year old. A 100 years back 50 was older when people had kids at 15 and died by 60. Neither is this the era of Ancient Greece when the lifespan was 35 or 40. Grow up.
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Find God
 


anonymous said:
50 and even 60 is not old and no, what you say is not possible for everyone. You are either an entitled 50 year old or an inexperienced 30 year old. A 100 years back 50 was older when people had kids at 15 and died by 60. Neither is this the era of Ancient Greece when the lifespan was 35 or 40. Grow up.
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Not quite. I’m a 57 year old who has seen plenty of peers sent to pasture while they still had kids in high school or college and were upside down in a McMansion. They naively believed as long as they worked hard and delivered solid results they were safe. Nobody is safe. I saw older, experienced reps get dumped while I was in my late 20’s. I knew then that it could all go away overnight. Witnessing it happen over and again and not making a plan for the worst case scenario is foolish.

I stand by my advice. Live on one income even if your spouse works. Max out your retirement and savings. Live below your means. Stay out of debt so you aren’t caught flat footed when you turn 50 and the company decides they don’t need you anymore. As the saying goes, “Stop trying to keep up with the Joneses. The Joneses are broke.”
 


anonymous said:
50 and even 60 is not old and no, what you say is not possible for everyone. You are either an entitled 50 year old or an inexperienced 30 year old. A 100 years back 50 was older when people had kids at 15 and died by 60. Neither is this the era of Ancient Greece when the lifespan was 35 or 40. Grow up.
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The pharmaceutical industry disagrees and would like to have a word with you.
 


anonymous said:
This is excellent advice. By age 50, even if you plan to work another 10-15 years, you must be prepared for the rug to get pulled out from under you. Your exit plan should be fully fleshed out. Mortgage paid off or darn close. College funds mapped out for the kids.

Other useful advice is to live well below your means. Learn to live on a single income in a two income home. Save as much as you can by maxing out 401K, IRA, etc. Don't buy a million dollar home if it means 50% of your income is going to be tied up in a monthly payment.
The world has conditioned us to accumulate debt. Don't fall for it. Forego the luxury purses, jewelry and cars. Everyone has them and nobody is impressed. Debt makes you a slave to your company and your paycheck. Debt traps you in a miserable job tied to a toxic boss (who is probably running on the treadmill trying to cover their monthly nut). Financial freedom provides peace of mind and allows you to navigate your career on your terms. It also enables you to pivot easily and with dignity in the event of a layoff or termination.

A lot has changed over the years in pharma. We are all 100% disposable and replaceable. A RIF can come out of nowhere. There is little to no humanity in the decisions made so take care of yourself first.
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Excellent observation(s). You are way too bright for BMS! Thank you, Sir!
 



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