Random Ramblings about stuff I see going on in biotech, internet and the stuff I read.

Saturday, June 17, 2006

Salary - Dapi Question

I guess I could answer in comments, but since I never look at those on other blogs I assume other people don't either.

Last post, Dapi Asked:
As for the $60K- pros would be it would provide me with experience in industry and I can always work damn hard and ask for a raise ...but I have a number in my head and I know what I am worth in relations to quality of life!

Can you give me an idea of the the base salary that a company like your company would offer to someone who has zero experience in industry? If this helps the company of interest has roughly 100 people..(rounded it up)!

I have a number in my head and i was want to know if its realistic!

I was paid $83K when I was employee #9 at a startup and as an application scientist. Start ups, in general, frequently have to pay better as you are taking risk to be there. OR they give you a lot of stock options. $80K is, I think, the high end.

After that, at the entry levels, salary falls the bigger a company gets.

For a product manager, with your credentials, we would be looking at $60-$70K with 10% bonus.

Bus Dev, with those qualifications, I probably wouldn't have hired you but if I had I would have gone $70 with minimal bonus.

App Scientist - $50-$80 is probably the range but that is far from the entire story. The app scientists at our company are closer to the upper end, but don't get a bonus/commission. They also don't get a car allowance. At the lower end, you have to get other things, like bonus's and car allowances etc... so you have to be careful not to fixate on the one number. The car allowance is $8K right there. The bonus could be $20K. SO - if you are at $60 you are making more than the guys at our company as your car + potential bonus gets you to $88K. This leaves out me even talking about health insurance and 401K matching etc... as you really have to look at the entire package. What is the out of pocket on the health insurance? Do they pay 100%? We don't unless you choose the absolute minimum HMO coverage (1 person, not family etc...)

A major consideration of this is understanding what kind of deal volume you will be involved with. Is each deal worth $1M? When I was an app scientist that is what I was looking at. A large instrument company would be looking at this. Smaller companies, where the deal size is in the $10K region will pay less.

It is important to get what you can, but make sure you keep the options in mind. What is plan B? Getting in to the business side is non-trivial. If you take this job, you are only really looking at 2 years before you can switch. I wouldn't get too hung up on the salary.

Stock options? (and do you think they are worth anything?)
Training? (i.e. will they send you to classes like sales training or negotiation?)

all of these things have to be taken at a totality to see if you are happy. If you fixate on the one number, and they won't get there, see if you can dump other stuff that you don't care about to get there, as the HR people will look at the total cost.

I realize I am all over the board here, but reading my past statements I see I am just as guilty as others in that I posted just 1 number (salary). As you seem to note, by mentioning the size of the company, the range differs by company size. It also differs by what you are involved in selling. It also differs by what else is in the package. The car allowance is huge. That is income right there that you may not have to pay income tax on (I don't think, but check that). That inflates your income in a disproportionate way.

At the end of the day, what it comes down to is whether or not you will be happy doing what they want for what they are willing to pay you. If not -> don't do it. If yes-> the ranges didn't matter.

I wouldn't fixate on the 70% travel -> we have all been there. It seems big, and it is big, but if you are going to go up the business side of things there will always be travel. I am down to about 50% this year, but I get on a plane tomarrow (fathers day....) as that is what has to be done.


Anonymous said...

Thank you so much for putting everything into perspective for me :)

I really appreciate picking your brain and getting insight on your experience!

I wish you a wonderful fathers day and I hope you enjoy it 100%

Again, have a great weekend and thanks for all your insight!

Good night :)


Anonymous said...

Actually I hope you do get to spend some time with your family tomorrow! And if not then I'm sure they appreciated you as much as possible today :)

Have a good trip. No need to respond to these comment


yes said...


Have a good weekend.