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Cvs raise 2019

Discussion in 'Pharmacy' started by ancienbon, Jan 29, 2019.

  1. Deja

    10+ Year Member

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    QUOTE="mentos, post: 20767254, member: 296092"]1.25% > 0. That is a raise[/QUOTE]

    you are looking at it wrong
     
  2. Modest_anteater

    Modest_anteater Walgreens @ Austin, Texas.

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    You can leave if you don't like it. I love how everyone loves complaining but stays at their hated company. Working for money is a PRIVILEGE. Realize you can be replaced in a week by one of the many new grads.

    Also why would a company give a bonus to someone they secretly want to quit? You realize almost all pharmacists are overpaid current given the new market conditions. If you quit that means they can fill your position with a pharmacist earning 80% of what you were making, increasing the companies profits.
     
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    #52 Modest_anteater, Mar 7, 2019
    Last edited: Mar 7, 2019
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  3. mentos

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    If $500/year makes no difference then please PayPal me that amount each year!! It's basically 0 afterall!
     
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  4. meltyblend

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    No raise but a 6k bonus.
     
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  5. sozetone

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    Where is the money going? we are talking about CVS here! It's going right into their pockets to be re-invested.
     
  6. Ra1nMak3r

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    1.25% raise and $2,300 bonus, ME
     
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  7. Dreamer716

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    Hey guys just a quick question on how this works. This is the first time Ill be going through a review and my PIC is also a first time manager. She submitted it online, but now what lol? I'm assuming my review goes to the DL and he ultimately decides if I get a raise or not?
     
  8. ericn2k3

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    Ask her to print out your compensation statement on MySuccess..
     
  9. Dreamer716

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    Oh cool gotcha and that should show if I got a raise or not?
     
  10. nextyearrx

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    CVS is headed towards Rite Aid !!!!
    The stock price tells us all:yeahright:
     
  11. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    Bonuses are in MyHr. I got $4700 as a staff, ~$3100 after taxes and such. Doing an ungodly amount of scripts while being glitched grossly under hours by the crappy myschedule software last fall finally pays off.

    What should I do with my bonus?
     
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  12. Momus

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    Pay off debts or spend half on fun stuff and save half.
     
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  13. CardinalGirl210

    Verified Account 7+ Year Member

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    Roth IRA
     
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  14. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    I already max out Roth, 401k, and HSA. The only debt I have is my mortgage...which is only 3.75%.
     
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  15. 8turkeys

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    I would honestly buy CVS stock with it, it is grossly undervalued. that way you make more free money.
     
  16. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    I don't really have faith that the stock will gain in value. I see behind the curtain every day. I see how they are alienating customers. I see how laughably bad all of their analytics they base business decisions off of are. I also see a army of angry people that gain more and more momentum every year to nationalize our healthcare insurance system gathering on one side of the valley. Jeff Bezos with his cyborg army on the other side of the valley. I hope CVS can prevail being that I work there and all...but I'm not doubling down on them with my own capital.

    If I'm going to invest it, I'll just chuck it into VTSAX.
     
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  17. ericn2k3

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    $4700 is a staggering amount for staff bonus. And this is already split with other staff Rph of at least 5 (including PIC). What % Rx budget were you guys over for 2018?
     
  18. 297point1

    297point1 Never faster
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    You are a traveling man at heart...time to book another trip.
     
  19. CardinalGirl210

    Verified Account 7+ Year Member

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    you are killing it - put it toward the mortgage would be good, but at this point just treat yourself! I hope to be where you are in two more years!
     
  20. hwks09

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    You guys working for CVS are insane if you weren't maxing your ESPP when the stock was at 50.
     
  21. josh6718

    josh6718 Pharmacist
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    Stockholm syndrome.
     
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  22. josh6718

    josh6718 Pharmacist
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    Yes and no- it was definitely more attractive when CVS used to offer a 15% discount instead of the 10% currently (especially since there is an 18 month holding requirement).

    Say I would max ESPP Enrollment $20k per year ($10k per enrollment period)-
    $10,000 earns no interest during each six month enrollment period that I could use to pay extra principal on my 4.125% mortgage ($825 savings no-tax)

    IF CVS stock would make a huge jump of 40% from $50 to $70 and remains there for the whole year:

    $20,000 at a 10% discounted purchase vs. market price $22,000 = $2,200 pre-tax

    After 20% long term capital gains this is reduced to $1,760 profit (IF you hold it even longer to be considered a qualifying disposition, otherwise you risk being taxed ordinary income rates)

    So IF the stock would jump 40% and stays there, at best I would be $935 ahead. And that is a very optimistic outlook- it could stay stagnant or dip back down again the following year.

    For me personally, risk/reward just isn't as great with the 10% discount and holding requirements. I'd rather dump extra cash into maxing out 401k, HSA (triple tax benefit), Roth IRA, or my own investment ETFs offering high dividends.
     
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  23. hwks09

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    Didn't realize CVS has 6 month enrollment periods. I know WBA has monthly enrollment periods that let's you change contribution percentage pay check to pay check.

    Either, I've now got 3000 shares of CVS at Avg cost of 59 in my taxable.

    FYI, Bernstein initiated CVS Health today with an outperform rating.
    Actionable Trading Ideas, Real Time News, Financial Insight | Benzinga
     
  24. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    This is my week off, so I can't look it up. But we were a 24 hour doing 3200-3400 scripts a month with about 220 tech hours. My PIC's bonus is probably ridiculous.

    Looking at the compensation guideline, that's not even the highest bonus you can get. Apparently, staff RPH max bonus for my store size is $5,940!
     
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    #74 WVUPharm2007, Mar 13, 2019
    Last edited: Mar 13, 2019
  25. Modest_anteater

    Modest_anteater Walgreens @ Austin, Texas.

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    It's espacially good when you put your credential sticker on your hand to make for easy scanning.

    Who owns you?

    CVS.

    Who owns you?

    Look at your tag on your physical body. CVS owns you.
     
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  26. josh6718

    josh6718 Pharmacist
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    Ironic. I remember our new pharmacist regional 'welcoming' meeting after graduation for all the new grads that had gotten offers from CVS. It was in a very large conference room and the Divisional Vice President was presenting using powerpoint.

    There was a slide (I think the closing one) that came up that read "You belong with CVS!"- he turned to the regional college recruitment director who was at the laptop running the presentation and said I don't like that slide, I want you to change it to "You belong TO CVS". The poor recruiter awkwardly laughed thinking he was joking at first, but I kid you not, the Divisional VP stone face said, no you're going to change that slide now to "You belong TO CVS".

    There was such an awkward silence in the room, and remember all of us new grads/pharmacist joking about it afterwards- but looking back should have seen how true that really was.
     
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  27. Cleaveland

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    Adopt me as your child and provide for my student loans? lol I got a mini bonus because I've only been a staff for 3 months last year. Thanks in advance!
     
  28. mentos

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    You have 177k invested in one stock? Damn what's your net worth?
     
  29. hwks09

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    I have roughly 2 million in my taxable.
     
  30. Dreamer716

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    Oh wow 3200-3400 with 220 tech hours?? I was complaining at my 2700 script store when we were only given 210 hours lol
     
  31. Modest_anteater

    Modest_anteater Walgreens @ Austin, Texas.

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    He was probably upset that all his CVS stock he had been getting through work had lost 50% of it's value.
     
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  32. MSerforfun

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    So will there be RSU's this year?
     
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  33. meltyblend

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    I still don't know how your store functions with so little tech hours. My store has around the same volume (not 24 hours) and get around 300+ hours. Still doesn't feel like enough help. Then again, I don't have enough staff availability to fill those hours and have call outs and general incompetence.

    Btw, if anyone is wondering, my store did terribly on overall MSH. We're talking about only meeting target on 2 out of the 5 components and I walked away with 6k and my staff got 4k. Script is what really matters regardless of how well your store is doing. Everything else is just extra.
     
  34. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    We didn't. It got to over 90 pages of QP at one point. MySchedule was glitched and our DM did nothing about it. We suffered for months. Then in January, all of a sudden we were getting 50+ more tech hours a week and now we're fine.

    This is why my bonus was so huge. It breaks down where the money in your bonus comes from. $3,750 worth of my $4,700 were scripts over budget.
     
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  35. josh6718

    josh6718 Pharmacist
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    No, this was actually way before CVS even broke $100 and had made poor decisions like purchasing Omnicare.
     
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  36. josh6718

    josh6718 Pharmacist
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    I haven't heard anything official yet one way or the other. Our store finished #1 in our district last year and none of us received raises so I'm hoping we will at least get RSU's.
     
  37. Momus

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    Graveyard pharmacists do anywhere around 100-250 rx/day. Most of those rxs (90%) are refills.
     
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  38. Dr Wario

    Dr Wario Hey you! Want to try this pill?
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    RSU's and options are gone for store level pharmacists, have been rolled into bonus
     
  39. nextyearrx

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    After performance review for cvs pharmacist, does the new hourly rate appear on the very next paycheck?
     
  40. MSerforfun

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    Store level pharamacist includes the pharmacy manager, right?
     
  41. WVUPharm2007

    WVUPharm2007 imagine sisyphus happy
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    It usually kicks in in April.

    I apparently make too much money and didn't get a raise. Oh well.
     
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  42. aqb

    aqb
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    How likely is it to negotiate a bigger raise during your review? Finished my first full year and pretty sure I was one of the top performers as an oncoming floater and now I've been staffing. Trying to think ahead and phrase my words correctly going into it - if its even a thing, or people just kind of take it and go on their way.
     
  43. Cleaveland

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    Doesn't hurt to ask!
     
  44. mentos

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    Not sure if it's region specific or things have changed but everyone in my district always got the same raise, used to be 2% like clockwork but closer to 1% now. Hence most pharmacists were lazy because there was no incentive to do better than your peers since we all got the same raise.
     
  45. nextyearrx

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    I know some Rphs in my district makes well over $70 per hour (in mid 70s)
    Cvs by the way
     

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