so he's been working for nearly 12 years( assuming he started working right after he graduated) and a year after he gets laid off, he'll be in destitution? he must have some gambling problems. i've only been working for 1.5 years and i paid off all my student loans and got about 30k saved up atm. if i hadn't done that, i should be able to live off 130k for at least 3-4 years. to be fair, i don't have a wife and 2 kids though. shouldn't the wife have had a job with some savings too? i swear, the days of marrying a pretty girl with no career prospects is over. gotta find a girl who can stand on her own 2 feet and not rely upon you. economy sucks.
36 Year-Old DM Laid-Off. What are the usual options?
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Everyone's different.
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Maybe that explains it. For a district pharmacy supervisor at CVS, base can be 150 to 160k... (which is what I am making as a store pharmacy manager). As Chalupa and I confirmed, cash bonus is 22 percent at target (which comes out to 33k). With equity and stock options (CVS stocks have done exceptionally well over the last twenty years), compensation can come out to 200k+.
For the cash bonus, that is not 33k guarantee. But for example, 2012 was an amazing year for a lot of people. It was a good flu season and Medco- Express Walgreen dispute in 2012 helped a lot of supervisors exceed their targets. This year on the other hand, it seems like the retail side is not doing as well (but Caremark side is killing it). So I bet a lot of DM/ Sups wont be making as much especially with cigarette sales going away.
Stock equity is also a big thing. One supervisor said he got 100k stock options. It seemed excessive but another supervisor confirmed that it was possible. When I graduated, CVS was at 28 dollars a share. It is now over 90 dollars. Depending on when they cash out (they have to hold it for one year while I have to hold it for 3), they can make $$$..
I am not a supervisor so I have no clue what true compensation is. This was what I gathered from several supervisors that I have worked with and my boss. I trust all of them... and have seen "compensation" plans for Regional Sales Manager, District Manager, and Rx Supervisor. I know the average Salary is correct for my market, and I can confirm on cash bonus of 22 percent for Sups, 28 for DM, and 32 for regional.
The only thing I can not confirm is stock equity but I heard that is decided by the regional manager (he gets X amount of shares and divide it based on how he feels).
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But even if compensation is at 180k...., there are also perks of the job like expense accounts and a corporate car (that I heard they pay you now because CVS does not want to maintain a corporate fleet... so you can pick the car you want). Plus most supervisors that I know do not work on weekends, and my supervisor is done after 5pm.
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Their options vest 25% per year so they can cash out some, but not all, after 1 year. Restricted stock is much better. You get dividends even before it vests and it "cliff vests" all at once after 4 years. The great thing about restricted stock is even if the value goes down it is still worth something. Options are worthless if the current value is less than the strike price.
The RM gets 75% of the target RSU value for his DM's. For example, if he has 4 DM's he is supposed to give 3 of them 100% allotment and the lowest performing DM gets nothing. It is discouraged to give everybody 75%.
Millionaires are made from the stock options. At the store your bonus and stock options are a joke. AZFarmer will be a sup in the future for sure. Good luck dude.
Apparently, you know what you are talking about. So here congrats. People on here thinks 100k of options = 100k instant cash. Ridiculous.
Actually, they don't provide cars not pay for a car of your choice either. They are only paying for mileage now.. So you use your own car and drive all those miles daily, abuse ur car but only get paid for mileage.. I m not sure which district you are in.. I know a couple regions not just districts where all district sups are available 24/7 and do lots of work weekends.. It is def a less stressful job compared to actually working in a store but u ll be to do so much work at night and weekends..
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I think that falls on how each sup. works. Some sups feel that they need to work on weekends because they will be busy on Mondays. My favorite sups do not. Maybe that is why they are so good- they manage their time properly.
I think the same can be said for a pharmacy manager. I get a lot of text messages through un-godly hours (I have a lot of employees since my store does 4k a week). I manage them by setting clear expectations asap.... I think a lot of the younger generation kids that I hire as techs now do not know that just because it pops into their head, they should text me right away on it. For example, a tech texted me saying she wanted more hours at 2am. I texted her that while I do appreciate that, she can talk to me when I am at work and not wake me up for that. I also make sure that I do not reward "instant gratification behavior" by not solving the problem asap.
If it is urgent and needs me (fire in the pharmacy), call me anytime. If it is an issue like sick calls, finding out what their schedule is, finding out where the stapler is, if they can have off on a day etc, they should call the store and ask for the pharmacist on duty. If it is my partners reaching out to me, I make sure I empower them so that they understand in the future, they are in a situation to solve the problem. If somebody called out on them, they have to call and find coverage right away. I am at home and do not have the schedule. They are in a better position to fix the problem than I am.
I also make sure my employees know they should go to their colleagues, lead tech, intern, staff pharmacist in order, and then me if it can not be resolve by any of them. I will be more than happy to help them but they do not need me for stuff like illegible scripts or what drugs we have in stock.
I feel that supervisors get a lot of emails that don't have to be managed by them, or can wait until they are back at work. For example...., system is down... (great FYI, but supervisors can not do much except guide the pharmacist to fill scripts on down time and call tech support), or customer said we shorted them x pills...., can we give them a few to hold them over (call the pharmacy manager..., or decide yourself. You don't need a supervisor for that). I am sure they have a lot of important emails when running 20+ stores but a good majority of it can be resolved by the pharmacy manager, other colleagues, schedulers, district training technician, going onto rxnet, or store support helpline.
I think the same can be said for a pharmacy manager. I get a lot of text messages through un-godly hours (I have a lot of employees since my store does 4k a week). I manage them by setting clear expectations asap.... I think a lot of the younger generation kids that I hire as techs now do not know that just because it pops into their head, they should text me right away on it. For example, a tech texted me saying she wanted more hours at 2am. I texted her that while I do appreciate that, she can talk to me when I am at work and not wake me up for that. I also make sure that I do not reward "instant gratification behavior" by not solving the problem asap.
If it is urgent and needs me (fire in the pharmacy), call me anytime. If it is an issue like sick calls, finding out what their schedule is, finding out where the stapler is, if they can have off on a day etc, they should call the store and ask for the pharmacist on duty. If it is my partners reaching out to me, I make sure I empower them so that they understand in the future, they are in a situation to solve the problem. If somebody called out on them, they have to call and find coverage right away. I am at home and do not have the schedule. They are in a better position to fix the problem than I am.
I also make sure my employees know they should go to their colleagues, lead tech, intern, staff pharmacist in order, and then me if it can not be resolve by any of them. I will be more than happy to help them but they do not need me for stuff like illegible scripts or what drugs we have in stock.
I feel that supervisors get a lot of emails that don't have to be managed by them, or can wait until they are back at work. For example...., system is down... (great FYI, but supervisors can not do much except guide the pharmacist to fill scripts on down time and call tech support), or customer said we shorted them x pills...., can we give them a few to hold them over (call the pharmacy manager..., or decide yourself. You don't need a supervisor for that). I am sure they have a lot of important emails when running 20+ stores but a good majority of it can be resolved by the pharmacy manager, other colleagues, schedulers, district training technician, going onto rxnet, or store support helpline.
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They always paid for mileage even when cars are provided. They are just paying for more, so then the supervisor can use that mileage payment for a car that they choose. I believe it was 40 or 50 cents a mileage when there was a corporate car. If they drive 300 miles a week, that comes out to 150 dollars or 600 dollars a month before the new system. I think the new system is more so it might be 1k a month for a car.
