Got an offer from industry... should I move on?

[skarndghks2017]

I work as an inpatient pharmacist for few years now and I always wanted to try industry since pharmacy school.
I got an offer from a big pharma industry as a medical affairs associate which I know I am very fortunate.
I heard from the interview that the future is endless with this job and I am very excited.
However, I have read few threads here and I'm hearing a lot of job security issue vs. hospital pharmacist.
It's not like I would be staying as a staff pharmacist as well. We are opening a informatics pharmacist position and I'm one of the candidates as well, so I am excited for that too.
I guess I am really at the point of my life to make a huge decision.
Salary is similar and I would work from home which is very nice.
Should I move on?
What do you guys think?

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[TheBlaah]

Would it be possible for you to stay on as prn with the hospital? It would act as a backup in case the job truly is insecure, and it would allow you to easily transition back into the job if necessary (while still retaining seniority/years worked in regards benefits/PTO).

 

[M0df]

Personally I would not move on from inpatient if you work in a good work environment and you have a schedule that works for you. But I work retail, so it is different. There must be good reason you applied for industry job in the first place and if that reason is still valid... I would make the jump. You would know within a year if it is for you and could probably go back to inpatient if you don't like your new job.

 

[skarndghks2017]

Would it be possible for you to stay on as prn with the hospital? It would act as a backup in case the job truly is insecure, and it would allow you to easily transition back into the job if necessary (while still retaining seniority/years worked in regards benefits/PTO).

Yeah, that's what I'm planning to do but I don't know if my hospital would let me. Job market is pretty tough where I live. And even if they let me, I'm not sure whether I can come back as a full-time.

Personally I would not move on from inpatient if you work in a good work environment and you have a schedule that works for you. But I work retail, so it is different. There must be good reason you applied for industry job in the first place and if that reason is still valid... I would make the jump. You would know within a year if it is for you and could probably go back to inpatient if you don't like your new job.

The only reason is basically that's what I wanted to do since pharmacy school. I was fortunate enough to land a hospital job but I always wanted to try industry. I want to give it a try and like you said if I don't like the job, I could go back. But I'm also scared not to find a hospital job even if I stay as prn at my hospital.

 

[lord999]

I think you've answered your own question. If you have no appetite for risk, industry is not for you. On the other hand, daring is what industry is about.

The only reason is basically that's what I wanted to do since pharmacy school. I was fortunate enough to land a hospital job but I always wanted to try industry. I want to give it a try and like you said if I don't like the job, I could go back. But I'm also scared not to find a hospital job even if I stay as prn at my hospital.

 

[Mr. Corporate Pharmacist]

While luck and positioning do play roles in getting jobs, don't discredit your skills.

You can clearly get the jobs you aim for. So don't be afraid to try something new. What's the worst that can happen?

You end up learning something and have new skills under your belt.

 

[samven582]

I work as an inpatient pharmacist for few years now and I always wanted to try industry since pharmacy school.
I got an offer from a big pharma industry as a medical affairs associate which I know I am very fortunate.
I heard from the interview that the future is endless with this job and I am very excited.
However, I have read few threads here and I'm hearing a lot of job security issue vs. hospital pharmacist.
It's not like I would be staying as a staff pharmacist as well. We are opening a informatics pharmacist position and I'm one of the candidates as well, so I am excited for that too.
I guess I am really at the point of my life to make a huge decision.
Salary is similar and I would work from home which is very nice.
Should I move on?
What do you guys think?

can you provide some advice on how to break in?

 

[VictorOfHungerGames]

Are they paying you the pharmd salary though? I got a couple of offers and they were both in high 80k. Im sure they will tell you that future is great but is it really? Haha bottom line is would you really want to leave a stable job for an uncertain one?

 

[spacecowgirl]

Are they paying you the pharmd salary though? I got a couple of offers and they were both in high 80k. Im sure they will tell you that future is great but is it really? Haha bottom line is would you really want to leave a stable job for an uncertain one?

That is half what I see for MSL base. + bonus, options, car, etc. I got an email about a job I was unfortunately not qualified for at all, but the comp was up to 300K!

 

[VictorOfHungerGames]

That is half what I see for MSL base. + bonus, options, car, etc. I got an email about a job I was unfortunately not qualified for at all, but the comp was up to 300K!

Lol do what now? Theyre either trolling you or... probably trolling you. Lol

 

[spacecowgirl]

I work in industry so....

 

[Jbrl]

Your problem’s a good one to have. Think about the job you’d like to have in 5-10 years. Perspectives will differ about how stable pharma is (I’m in the camp that career stability is not meaningfully lower though job stability might be). In the end, though, you’re choosing between two very different pathways. I would prioritize that instead of stability considerations.

Would recommend you speak to ex-hospital pharmacists at the firm that gave you the offer. Ask HR or the hiring manager.

Are they paying you the pharmd salary though? I got a couple of offers and they were both in high 80k. Im sure they will tell you that future is great but is it really? Haha bottom line is would you really want to leave a stable job for an uncertain one?

Pay starts out lower if you go straight into pharma but rises relatively quickly your first few years. 10% YoY increase wouldn’t be unreasonable to expect with a promotion or two.

Average base salary for a 10 year tenured MSL role is ~180k in the US + ~20% bonus so 300k seems feasible for a senior position.

 

[VictorOfHungerGames]

Your problem’s a good one to have. Think about the job you’d like to have in 5-10 years. Perspectives will differ about how stable pharma is (I’m in the camp that career stability is not meaningfully lower though job stability might be). In the end, though, you’re choosing between two very different pathways. I would prioritize that instead of stability considerations.

Would recommend you speak to ex-hospital pharmacists at the firm that gave you the offer. Ask HR or the hiring manager.

Pay starts out lower if you go straight into pharma but rises relatively quickly your first few years. 10% YoY increase wouldn’t be unreasonable to expect with a promotion or two.

Average base salary for a 10 year tenured MSL role is ~180k in the US + ~20% bonus so 300k seems feasible for a senior position.

We’re talking about the same job right? medical science liaison? I dont know what your source is but ive never heard of anyone making over 150k as a pharmacist msl. My wife who has a phd in biochem was offered something similar for 90k. The manager who interviewed her said it could top around 150k with experience. I had similar experience with my interviews but starting salary was abit higher for pharmds. 300k, or even 180k, sounds very far fetched.

Now maybe with some kick back money and under the table dealing could be a possibility but straight up salary for 200k+ doesnt sound realistic based on my experiences with at least 3 interviews i had and 2 that my wife had.

Now if someone could prove me wrong with their own salary, id believe that lol but until then, this sounds more like a wishful thinking.

 

[Jbrl]

We’re talking about the same job right? medical science liaison? I dont know what your source is but ive never heard of anyone making over 150k as a pharmacist msl. My wife who has a phd in biochem was offered something similar for 90k. The manager who interviewed her said it could top around 150k with experience. I had similar experience with my interviews but starting salary was abit higher for pharmds. 300k, or even 180k, sounds very far fetched.

Now maybe with some kick back money and under the table dealing could be a possibility but straight up salary for 200k+ doesnt sound realistic based on my experiences with at least 3 interviews i had and 2 that my wife had.

Now if someone could prove me wrong with their own salary, id believe that lol but until then, this sounds more like a wishful thinking.

Multiple sources. People I know, Glassdoor, Paysa. MSL Society has been publishing salary since 2014, here's last year's numbers. Just check for Senior Medical Science Liaison on Glassdoor (one promotion above MSL,). If your wife was being offered 90k to be an MSL she was being offered the very low end of the range I would gather. As another note, MSLs aren't incentivized like sales reps - there's no reason to try anything shady if that's what you're implying.

Medical Information Associates / Specialists are different and generally start out lower without fellowship or FT experience; 80-90k would be about right.

 

[VictorOfHungerGames]

Multiple sources. People I know, Glassdoor, Paysa. MSL Society has been publishing salary since 2014, here's last year's numbers. Just check for Senior Medical Science Liaison on Glassdoor (one promotion above MSL,). If your wife was being offered 90k to be an MSL she was being offered the very low end of the range I would gather. As another note, MSLs aren't incentivized like sales reps - there's no reason to try anything shady if that's what you're implying.

Medical Information Associates / Specialists are different and generally start out lower without fellowship or FT experience; 80-90k would be about right.

First off, did you even read that? This is based off of 1600 msls from 60 different countries. Lol do you realize how many pharmds and phds there are in the US alone? No statistician would take this seriously.

Glassdoor shows average of $75k. Ziprecruiter shows about $120k.

If youre working as msl off of a bs or an ms degree that might be a big number but for a pharmd or a certain phd, this would be just average at best. I dont see anywhere where they say you make $300k.

Like i said, unless youre in the field and actually made the claimed salaries, i wouldnt believe these wild theoretical/hypothetical numbers.

 

[spacecowgirl]

I'm not going to share my W2 with you. Believe me or don't, IDGAF. And stop with this kickback nonsense.

 

[VictorOfHungerGames]

I'm not going to share my W2 with you. Believe me or don't, IDGAF. And stop with this kickback nonsense.

Well if you dont give a fart then you can just stop responding lol no need to be defensive. We are all just sharing what we experienced and learned. At least i am.

Kick back nonsense? Ha. Trust me. You may not do it yourself but there are plenty of people whos doing it.

 

[Mr. Corporate Pharmacist]

First off, did you even read that? This is based off of 1600 msls from 60 different countries. Lol do you realize how many pharmds and phds there are in the US alone? No statistician would take this seriously.

Glassdoor shows average of $75k. Ziprecruiter shows about $120k.

If youre working as msl off of a bs or an ms degree that might be a big number but for a pharmd or a certain phd, this would be just average at best. I dont see anywhere where they say you make $300k.

Like i said, unless youre in the field and actually made the claimed salaries, i wouldnt believe these wild theoretical/hypothetical numbers.

Agreed, but they probably meant total compensation. Benefits, bonus, salary, etc. All lumped together.

I was offered a position where the quarterly bonus topped out at 25k. This was just for a drug rep position.

My friend who actually worked there confirmed it because she was the one making that crazy bonus.

300k total compensation doesn't seem too farfetched in industry, but it's definitely not mainstream

 

[VictorOfHungerGames]

Agreed, but they probably meant total compensation. Benefits, bonus, salary, etc. All lumped together.

I was offered a position where the quarterly bonus topped out at 25k. This was just for a drug rep position.

My friend who actually worked there confirmed it because she was the one making that crazy bonus.

300k total compensation doesn't seem too farfetched in industry, but it's definitely not mainstream

Yeah true but in that sense, i can say i made $400k as a pharmacist if i owned a few pharmacies haha. Which is what my boss made last year. He owns 5 pharmacies. Obviously, this aint gonna be a norm for a pharmacist but it exists.

 

[spacecowgirl]

I am sharing my experience as someone who is in that sector and you're saying I'm being trolled by a recruiter, you won't believe what I am saying the salaries are, and that MSLs take shady deals. I'm not defensive, I'm frustrated.

 

[VictorOfHungerGames]

I am sharing my experience as someone who is in that sector and you're saying I'm being trolled by a recruiter, you won't believe what I am saying the salaries are, and that MSLs take shady deals. I'm not defensive, I'm frustrated.

No you got it wrong. I didnt say you HAVE TO OR ARE taking shady deals. I said with a possibility of those dealings you could earn said money. I dont know you so im not gonna make any accusations obviously.

Also, if youre making those extreme salaries as a msl pharmacist, good for you. No one is claiming youre not. And honest, idgaf lol. What i am saying is that advertising the msls as this high salaried jobs is misleading since that is generally not the case. Hence my example as a pharmacy owner.

 

[Argentium]

Your typical MSL is ~$120 - $200k base + 15-20% bonus + $5 - 45k stock options depending on what level you're at ("MSL" vs "Senior MSL" vs "Executive MSL") which is based on experience, performance, etc. ... topping out at around $300 is possible and not unheard of, but certainly its above average.

Coming out of the fellowship, you can probably expect $130 + ~16% + 5-15k stock options for a total of $175ish

 

[VictorOfHungerGames]

Your typical MSL is ~$120 - $200k base + 15-20% bonus + $5 - 45k stock options depending on what level you're at ("MSL" vs "Senior MSL" vs "Executive MSL") which is based on experience, performance, etc. ... topping out at around $300 is possible and not unheard of, but certainly its above average.

Coming out of the fellowship, you can probably expect $130 + ~16% + 5-15k stock options for a total of $175ish

Awesome. I shall be applying for more msl positions starting tonight!

 

[Jbrl]

First off, did you even read that? This is based off of 1600 msls from 60 different countries. Lol do you realize how many pharmds and phds there are in the US alone? No statistician would take this seriously.

Glassdoor shows average of $75k. Ziprecruiter shows about $120k.

If youre working as msl off of a bs or an ms degree that might be a big number but for a pharmd or a certain phd, this would be just average at best. I dont see anywhere where they say you make $300k.

Like i said, unless youre in the field and actually made the claimed salaries, i wouldnt believe these wild theoretical/hypothetical numbers.

And if you yourself had read closely, you’ll see the chart is US salaries only. These are not theoreticals and I’m not sure why you’re being aggressive about it.

 

[greenteapanacea]

And if you yourself had read closely, you’ll see the chart is US salaries only. These are not theoreticals and I’m not sure why you’re being aggressive about it.

Don't bother with these aggressive posters. They managed to turn somebody's optimistic post about a job offer into another worst-case scenario.

 

[wazoodog]

I'm in the industry as well. Currently, the MSLs I know (some were classmates) with about 10-15 years of experience are making anywhere between 150-180k base salary on average, with 20-25% bonus, plus other miscellaneous expenses paid for (phone, home internet, car, gas, etc.) Not to mention with all the business travel, they rack up enough airline and hotel points that their vacations are largely paid for with points and miles. In other functions throughout the industry, PharmDs with comparable experience average anywhere between 130-180k with 10-30% bonus - and more or less expect to continue making jumps every 2-4 years for any number of reasons. The longer a PharmDs is in the industry, many tend to move away from "scientist" roles and more into executive roles, some of which reach and exceed the 300k mark. The president of a mid-size pharma I formerly worked at was a BS pharmacist (actually an alumnus of my pharm school), and almost certainly made well over 300k. On average, I would say those pharmacists who are in the later (25+) years of their industry career are currently between 160-220k - before yearly bonus, long term incentive bonus, possible stock options, etc.

Whether 160-180k constitutes as truly "high salaried" compared to whatever they would be making as a retail pharmacist is a good question. Frankly, after taxes...the take home from base salary isn't so much more that you can afford a completely different lifestyle. Spending/saving habits and windfalls (stock payout, crazy severance package) play a bigger role. I guess the work-life balance that comes with industry is rather good - it allows you to pursue a hobby or interest more easily. The biggest factor should come down to what kind of work you enjoy. If you don't love your current job (just ok with it) and get an opportunity in an area you were interested in I would take it. Especially if you're on the younger side. The industry really has a wide variety of roles so you have a chance to find something to your liking. If you decide to move on to something else, the business skillset you will have gained will be applicable as well.

 

[wazoodog]

OP..did you accept the offer? Frankly I think it would be a no-brainer to take it if I was in your shoes (which I more or less was many years ago).

 

[Rybko90]

Anyone have any tips for breaking into industry for recent grads?

 

[Lubeckd]

I work as an inpatient pharmacist for few years now and I always wanted to try industry since pharmacy school.
I got an offer from a big pharma industry as a medical affairs associate which I know I am very fortunate.
I heard from the interview that the future is endless with this job and I am very excited.
However, I have read few threads here and I'm hearing a lot of job security issue vs. hospital pharmacist.
It's not like I would be staying as a staff pharmacist as well. We are opening a informatics pharmacist position and I'm one of the candidates as well, so I am excited for that too.
I guess I am really at the point of my life to make a huge decision.
Salary is similar and I would work from home which is very nice.
Should I move on?
What do you guys think?

Informatics in Industry or Hospital?
Has anyone went the medical science liaison route with Ph.D's?

 

[greenteapanacea]

Anyone have any tips for breaking into industry for recent grads?

Keep applying and never give up, no matter what other people tell you. Don't be afraid of a pay cut.

 

[spacecowgirl]

RedHill 1906-5282 East and 1906-5283 West PUBLIC

RedHill 1906-5282 East and 1906-5283 West PUBLIC

go.trinetpharma.com

Entry level MSL posting

 

[Amphetamine Salts]

remember what they say OP

where there is risk, there is reward

 

[Saiyo]

I can confirm making around the 150k mark as base, closer to 200k with bonuses and stocks.

Oh la la, what is the job like? perhaps it is time for me to consider a switch

 

[skarndghks2017]

Just want to follow up with what happened. Its been a very busy year since.
So industry didn’t work out for me due to many different reasons but I ended up taking informatics position which is going okay for me.
And I’m not gonna lie, it was probably a better decision for me with covid now I think about it. Many of my friends in industry got laid off.
I’m aiming for VA hospital informatics position. Wonder how VA’s job security is.

 

[spacecowgirl]

There really isn't a typical week or routine. Precovid, it was a few days working from home and a few days of travel. I usually spent 6ish nights a month away. Sometimes a lot more, occasionally less. Salary and benefits differ, not sure there's a number to give aside from what has been stated here. Suffice to say I have priced myself out of pharmacy practice in a couple of years. Everything is volatile and with a couple years of experience, I feel more confident in having a job than just about anywhere.

 

[spacecowgirl]

Bonus seems to be 15-20% base. Often there is a car or allowance. Stock may be in grants or at a discount. 401k may also be in stock. You get to keep all of your frequent traveler perks, which means we never pay for a hotel.

 

[Hedgehog32]

There really isn't a typical week or routine. Precovid, it was a few days working from home and a few days of travel. I usually spent 6ish nights a month away. Sometimes a lot more, occasionally less. Salary and benefits differ, not sure there's a number to give aside from what has been stated here. Suffice to say I have priced myself out of pharmacy practice in a couple of years. Everything is volatile and with a couple years of experience, I feel more confident in having a job than just about anywhere.

Is there any hope/possibility of a new grad who completed neither a fellowship nor a residency to eventually work their way into one of these kinds of positions? If so, what entry-level jobs would they possibly qualify for? Drug information/associate jobs, medical information jobs, and PV jobs?

 

[spacecowgirl]

Is there any hope/possibility of a new grad who completed neither a fellowship nor a residency to eventually work their way into one of these kinds of positions? If so, what entry-level jobs would they possibly qualify for? Drug information/associate jobs, medical information jobs, and PV jobs?

I don't know. Most pharmacists I work with had advanced training. Those that didn't: One had med info experience first. One started in pharma sales. Med info jobs are HQ based, no traveling, car or bonus. I don't know what they pay vs field based medical. But they'd be a good way to start.

 

[spacecowgirl]

@msweph like every other sector, major metro areas would be extremely competitive and breaking in could be hard for industry. Most jobs I have seen still cover a state or two, not just a city. I have 6 states which is too much outside of a pandemic. I was contacted by a recruiter about a job covering 20 states! It all depends on the size of your team, which depends on the therapeutic area, company size, portfolio, size of the treated population (eg rare disease would be geographically large but with a small number of targets vs diabetes or CHF), density of academic and research institutions, etc. Every job will say 50-75% travel. That may mean overnights or just day travel.

But I don't work holidays, a rare weekend for a conference, I'm not on call and I'm home a lot more overall.

 

[Deja]

@msweph like every other sector, major metro areas would be extremely competitive and breaking in could be hard for industry. Most jobs I have seen still cover a state or two, not just a city. I have 6 states which is too much outside of a pandemic. I was contacted by a recruiter about a job covering 20 states! It all depends on the size of your team, which depends on the therapeutic area, company size, portfolio, size of the treated population (eg rare disease would be geographically large but with a small number of targets vs diabetes or CHF), density of academic and research institutions, etc. Every job will say 50-75% travel. That may mean overnights or just day travel.

But I don't work holidays, a rare weekend for a conference, I'm not on call and I'm home a lot more overall.

have you worked with anyone who don't have experience in pharma and went back to school for a MS like regulatory science? does that even help?

 

[spacecowgirl]

have you worked with anyone who don't have experience in pharma and went back to school for a MS like regulatory science? does that even help?

I haven't.

 

[samven582]

Spacecowgirl, any advice for breaking into the MSL field? Is it possible with 4 years of clinical pharmacy experience?

 

[spacecowgirl]

I think it depends more on what you bring with that experience. Namely a network and demonstration of the ability to move projects through. As field medical (MSL) you are essentially managing your own business, which is your territory. You need to show that you have business acumen and the skills to engage stakeholders. Speaking and critical thinking skills on the fly are hugely important. Just being a clinical pharmacist (whatever that really means) isn't likely going to get you an interview unless it is niche experience for a niche therapeutic area like oncology or rare disease.

I am not familiar with what it is like in a med info or non field based position.

Find an MSL in your area and talk to them. Your sales reps will be happy to introduce you.

 

[Argentium]

I think it depends more on what you bring with that experience. Namely a network and demonstration of the ability to move projects through. As field medical (MSL) you are essentially managing your own business, which is your territory. You need to show that you have business acumen and the skills to engage stakeholders. Speaking and critical thinking skills on the fly are hugely important. Just being a clinical pharmacist (whatever that really means) isn't likely going to get you an interview unless it is niche experience for a niche therapeutic area like oncology or rare disease.

I am not familiar with what it is like in a med info or non field based position.

Find an MSL in your area and talk to them. Your sales reps will be happy to introduce you.

Surprised you think that - I do feel like pharmacists that are MSL's are more often than not clinical pharmacists (even more then fellowship trained MSL's and those that entered via other avenues). Maybe its my northeast bias

 

[spacecowgirl]

Surprised you think that - I do feel like pharmacists that are MSL's are more often than not clinical pharmacists (even more then fellowship trained MSL's and those that entered via other avenues). Maybe its my northeast bias

Sorry, maybe I didn't explain well. Absolutely, a clinical background is needed. But clinical pharmacists are common, right? What does it mean to be a clinical pharmacist? Being a staff hospital pharmacist who follows protocols? Because most of those people are pgy1 trained. Or being the pharmacist who writes the protocols? The latter would show the ability to align stakeholders often through conducting analysis of usage, costs, benefits vs harms, etc.

So what I meant was that clinical experience is required but not adequate on its own.

 

[Hels2007]

have you worked with anyone who don't have experience in pharma and went back to school for a MS like regulatory science? does that even help?

I know people who went for an MS in regulatory sciences or compliance or other disciplines, but they were not pharmacists to start with. I know also a few pharmacists who went for graduate degrees in other fields - MBA is most common, but they were already working in industry. Those who went for MPH or PhD in epidemiology and related fields usually went to the FDA or academia, not industry afterwards. I personally got an MS in law but it was not for any practical reason but just because I thought it would be interesting (mostly it was) and I had an opportunity.

 

[Argentium]

I know people who went for an MS in regulatory sciences or compliance or other disciplines, but they were not pharmacists to start with. I know also a few pharmacists who went for graduate degrees in other fields - MBA is most common, but they were already working in industry. Those who went for MPH or PhD in epidemiology and related fields usually went to the FDA or academia, not industry afterwards. I personally got an MS in law but it was not for any practical reason but just because I thought it would be interesting (mostly it was) and I had an opportunity.

Would add for those considering an MBA or MPH, that school really does matter here - some schools have fantastic on campus recruiting with top pharma/biotech companies, consultancies, etc. that can really open doors

e.g. for MBA would consider Penn, Rutgers, Stern, Columbia, UNC, Duke - all have super strong healthcare programs that place well in NJ/CA Pharma. Not as familiar with Boston but I'm sure its the usually suspects (HBS / Sloan / etc.)