How much did your total comp go down in 2010?

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Anonymous

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With the advent of the Global Compensation Framework, my total compensation(salary + short term incentives + long term incentives) went down 24% in 2010 vs 2009. Yet I don't thing I've ever worked harder in my years as a manager at J&J. Care to comment on how you were impacted?
 


About the same % decrease. I can hardly wait to see what increases Billy Boy and BODs get for navigating the company through very difficult times. You can guarantee there will be no mention that it was their leadership that put the company in the mess that it's in.
 


Anonymous said:
With the advent of the Global Compensation Framework, my total compensation(salary + short term incentives + long term incentives) went down 24% in 2010 vs 2009. Yet I don't thing I've ever worked harder in my years as a manager at J&J. Care to comment on how you were impacted?
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Yours is the typical entitled attitude displayed by all the overpaid managers and reps at j&j. You should be thanking your lucky stars that you still have a high salaried job with a pension, free company car and great benefits and perks for your family in this awful economy. Are you aware that many of the other medical and pharmaceutical companies have taken away pensions, free company cars, and all benefits to their employees to deal with this recession in a dying industry? There are too many experienced and talented unemployed people out there who would actually be grateful to " work harder than they ever have " to have a job and pay their bills. JNJ NEEDS TO LAYOFF EVERY ONE OF THEIR OVERPAID TENURED EMPLOYEES AND HIRE ALL NEW BLOOD AT LOWER SALARIES MINUS THE PENSION, FREE COMPANY CAR AND BENEFITS. That is the only way this company will get back on it's feet and be in a better place.
 


Anonymous said:
Yours is the typical entitled attitude displayed by all the overpaid managers and reps at j&j. You should be thanking your lucky stars that you still have a high salaried job with a pension, free company car and great benefits and perks for your family in this awful economy. Are you aware that many of the other medical and pharmaceutical companies have taken away pensions, free company cars, and all benefits to their employees to deal with this recession in a dying industry? There are too many experienced and talented unemployed people out there who would actually be grateful to " work harder than they ever have " to have a job and pay their bills. JNJ NEEDS TO LAYOFF EVERY ONE OF THEIR OVERPAID TENURED EMPLOYEES AND HIRE ALL NEW BLOOD AT LOWER SALARIES MINUS THE PENSION, FREE COMPANY CAR AND BENEFITS. That is the only way this company will get back on it's feet and be in a better place.
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Are you taking another hit from the crack pipe? Take away benefits? Are you talking about medical benefits? You are a true asshole.
 


Why don't you ask your friends at other big pharma companies like pfizer and glaxo how their total benefits package has changed in the past year. New hires to the companies are not even able to get a pension regardless of how many years they work for the company. Most managers and reps are hired with a short term contract and are considered consultants and don't get benefits anymore. The gravy train in the industry is over. Compared to other big pharma companies j&j is at least a decade behind in adapting to the evolution of the overpaid "detail" manager or rep and their true worth to the company and what they actually produce.
 


Anonymous said:
Why don't you ask your friends at other big pharma companies like pfizer and glaxo how their total benefits package has changed in the past year. New hires to the companies are not even able to get a pension regardless of how many years they work for the company. Most managers and reps are hired with a short term contract and are considered consultants and don't get benefits anymore. The gravy train in the industry is over. Compared to other big pharma companies j&j is at least a decade behind in adapting to the evolution of the overpaid "detail" manager or rep and their true worth to the company and what they actually produce.
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Hate to admit it but you're right
 


Anonymous said:
Why don't you ask your friends at other big pharma companies like pfizer and glaxo how their total benefits package has changed in the past year. New hires to the companies are not even able to get a pension regardless of how many years they work for the company. Most managers and reps are hired with a short term contract and are considered consultants and don't get benefits anymore. The gravy train in the industry is over. Compared to other big pharma companies j&j is at least a decade behind in adapting to the evolution of the overpaid "detail" manager or rep and their true worth to the company and what they actually produce.
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Spoken like a true overhead employee with no contribution to the forecast. Its sad how people feel the need to defend the toxic work environment at this place. EVERYTHING since 2007 has been going down hill for the employees and J&J is no longer the "great place to work" like it once was.

I was part of the 2009 massacre and after 1 month of unemployment I found a comparable position with a Pharma company and guess what? My W2 is 17% higher than it was my last year here and I banked almost all of my severance. Also, just to rub salt in it, my benefits, 401K and vacation package is better too, especially the healthcare coverage.

It's out there so if you've had enough don't think J&J is the only place or that it's just as bad all over, because its not.
 


Anonymous said:
Spoken like a true overhead employee with no contribution to the forecast. Its sad how people feel the need to defend the toxic work environment at this place. EVERYTHING since 2007 has been going down hill for the employees and J&J is no longer the "great place to work" like it once was.

I was part of the 2009 massacre and after 1 month of unemployment I found a comparable position with a Pharma company and guess what? My W2 is 17% higher than it was my last year here and I banked almost all of my severance. Also, just to rub salt in it, my benefits, 401K and vacation package is better too, especially the healthcare coverage.

It's out there so if you've had enough don't think J&J is the only place or that it's just as bad all over, because its not.
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Just to throw some salt back at you i would point out that your "new job" doesn't have a pension does it? The pension is why we stay put.
 


Anonymous said:
Just to throw some salt back at you i would point out that your "new job" doesn't have a pension does it? The pension is why we stay put.
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Well little do you know asshole... the elimination of the pension at J&J is in the works too. All employess that are currently vested will have pensions frozen and new hores or those that are not vested with not have a penson at all.

Instead of the 75% company match up to the first 6% of your salary...it is being bumped up to 100% company match to the first 5%.

This is all in the works my friend. It is going to be rolled out Q1 of 2012.

I hope you leave after that time because quite frankly...we don't need you!
 


Anonymous said:
Spoken like a true overhead employee with no contribution to the forecast. Its sad how people feel the need to defend the toxic work environment at this place. EVERYTHING since 2007 has been going down hill for the employees and J&J is no longer the "great place to work" like it once was.

I was part of the 2009 massacre and after 1 month of unemployment I found a comparable position with a Pharma company and guess what? My W2 is 17% higher than it was my last year here and I banked almost all of my severance. Also, just to rub salt in it, my benefits, 401K and vacation package is better too, especially the healthcare coverage.

It's out there so if you've had enough don't think J&J is the only place or that it's just as bad all over, because its not.
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Great post. There are many opportunities out there but too many old fart reps do not have the "band width" to figure it out.
 


Anonymous said:
Well little do you know asshole... the elimination of the pension at J&J is in the works too. All employess that are currently vested will have pensions frozen and new hores or those that are not vested with not have a penson at all.

Instead of the 75% company match up to the first 6% of your salary...it is being bumped up to 100% company match to the first 5%.

This is all in the works my friend. It is going to be rolled out Q1 of 2012.

I hope you leave after that time because quite frankly...we don't need you!
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Been hearing that for years. Doubt it's gonna happen. Pensions here are safe.
 


Anonymous said:
Well little do you know asshole... the elimination of the pension at J&J is in the works too. All employess that are currently vested will have pensions frozen and new hores or those that are not vested with not have a penson at all.

Instead of the 75% company match up to the first 6% of your salary...it is being bumped up to 100% company match to the first 5%.

This is all in the works my friend. It is going to be rolled out Q1 of 2012.

I hope you leave after that time because quite frankly...we don't need you!
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You must be pretty high up in the ranks to have all this inside information?
 


Hopefully, the company match info mentioned (100% company match of the first 5%) is only part of the equation as it doesn't make sense by itself if eliminating a pension:

Using an example of a 100K salary taking full advantage of the company match would be a $500/yr increase in the company match: (100k * 0.75 * 0.06 = 4500, vs 100k * 0.05 = 5000).
 


Anonymous said:
Been hearing that for years. Doubt it's gonna happen. Pensions here are safe.
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Don't bet on it. The calculations to determine payments have been changed more times than you change your underwear. Or should I say more times than "I" change my underwear. I'm more informed on the pension here than I am of your hygiene habits.
 


Anonymous said:
Great post. There are many opportunities out there but too many old fart reps do not have the "band width" to figure it out.
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But don't expect the old fart reps to even consider looking elsewhere to make room for younger motivated reps. Would you hire any of them if you were an interviewing manager? They know how good they have it at jnj. Can't get any lazier than the reps I've worked with. Being around such lazy fart reps and managers made me not want to work hard anymore. So gladI forced myself to get out of the field and in the HO where most people have ambition and aren't planning to retire by coasting in the same territory with the same manager and same districtmates for years.
 


I got whacked a full 33%! Lost LTI and 2/3 of short term bonus, capped at top of band. Lost two levels is GCF. Have another suppervisor who is a gen'; mgr who will be given two years to learn his job at the expense of his team.

Expect to see pension frozen ......
ALSO ......... FYI UDGER GCF lots of you well see your pension value FALL as your total creditable comp FASTER than the formula gives you credit for years in company. I lost so much bonus under GCF, that if I stay more than 3 years, my pension will start to fall by about 10% to 15% and that will not be made up for about 10 years!


Good luck to us all.
 


Anonymous said:
Don't bet on it. The calculations to determine payments have been changed more times than you change your underwear. Or should I say more times than "I" change my underwear. I'm more informed on the pension here than I am of your hygiene habits.
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And what kind of underwear do you wear? boxers or tighty whities? lol
 






COBI rep here. Barely topped 200k, which put me down about 20% off previous years. A tough year but I weathered it. Thanks to new bonus structure should make at least 250k this year. I'll let you know in December.
 



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