just checking in

[hello_world02]

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Old member here. Moved to reddit just like everyone else and someday just randomly thought of checking in here. Looks like this place is dying...

Just some personal update:
Graduated pharm school in 2020. Never took naplex. I had enough of standing all days getting yelled by some random dudes, toxic culture and lack of career growth. I really don't see a future in this profession.

So I went straight to industry til now at AD level. My networth (brokerage + IRA + 401k) is around 1.5mm, and 1.3mm is in taxable brokerage invested in tech, semiconductors ETFs and nasdaq 100. I work for a company that's in process of getting acquired by a big pharma. Everyone in the company knows what's coming up, so I basically just show up everyday, pretend to work on something, and wait for the eventual payout: initial 3-6 months of "integration" salary + severance package (6 months pay according to the company policy) + bonus (15% target × 150% corporate multiplier) + accelerated vesting of granted options (150k-300k depending on milestones hit). I've run my numbers, and it looks like I can safely chubbyFIRE after this: I sell covered calls on my holdings, and so far it generates additional 1%-1.5% monthly income consistently. We spend less than the traditional 4% rule, and any additional premium income will be reinvested to keep rolling the snowball.

I am interviewing another big pharma contract to hire position, and it's remote. Not sure how this will go, but the hiring manager is quite excited to move forward to the final round. I guess I will wait and see. If I do get this offer, I need to juggle between 2 jobs in the upcoming 3-5 months.

My wife and I are expecting our 1st child. We sold our home and relocated to central FL earlier this year and so far it's awesome...no income tax, cheap rent on new constructions, theme parks, beaches, low cost of living, and nice people. We are in late 20s and early 30s, and we are already planning for retirement...I think if opportunities are there, I won't turn down WFH roles, before we become digital nomads and move overseas.

Alright, enough from me. How is everyone doing out here? What's your retirement plan?

 

[projektreverb]

Can I ask how you got into industry right out of school?

 

[hello_world02]

Can I ask how you got into industry right out of school?

I started as a contractor, then got a full-time role at another company after 2 years.

 

[projektreverb]

I started as a contractor, then got a full-time role at another company after 2 years.

Ahh so kind of the way I got into PBM. Can I ask what the title was? Just trying to figure out what to look for.

 

[hello_world02]

Ahh so kind of the way I got into PBM. Can I ask what the title was? Just trying to figure out what to look for.

I work in patient analytics, which lies at the interface of stats programming, clinical development, clinical operations, and data management...the title can vary a lot between companies. The contract to hire position I am interviewing is just "data scientist 3".

 

[projektreverb]

I work in patient analytics, which lies at the interface of stats programming, clinical development, clinical operations, and data management...the title can vary a lot between companies. The contract to hire position I am interviewing is just "data scientist 3".

Thanks!

 

[Mr.Smile12]

We're not that hip. Furthermore, the pharmacy admissions bubble has burst horribly, and we can't relate to the skibidi aura... 67... whatever. AI is going to write their applications now... 😉

 

[RxPreceptor]

Good to hear you’ve found your niche and doing well financially despite the plethora of obstacles us (relatively) young professionals face (student loans, rising house costs, priority juggling, etc.)

I seriously asked one of my young, hip technicians to explain what 6, 7 means…(shaking head, laughing)

 

[clarkbar]

Old member here. Moved to reddit just like everyone else and someday just randomly thought of checking in here. Looks like this place is dying...

Just some personal update:
Graduated pharm school in 2020. Never took naplex. I had enough of standing all days getting yelled by some random dudes, toxic culture and lack of career growth. I really don't see a future in this profession.

So I went straight to industry til now at AD level. My networth (brokerage + IRA + 401k) is around 1.5mm, and 1.3mm is in taxable brokerage invested in tech, semiconductors ETFs and nasdaq 100. I work for a company that's in process of getting acquired by a big pharma. Everyone in the company knows what's coming up, so I basically just show up everyday, pretend to work on something, and wait for the eventual payout: initial 3-6 months of "integration" salary + severance package (6 months pay according to the company policy) + bonus (15% target × 150% corporate multiplier) + accelerated vesting of granted options (150k-300k depending on milestones hit). I've run my numbers, and it looks like I can safely chubbyFIRE after this: I sell covered calls on my holdings, and so far it generates additional 1%-1.5% monthly income consistently. We spend less than the traditional 4% rule, and any additional premium income will be reinvested to keep rolling the snowball.

I am interviewing another big pharma contract to hire position, and it's remote. Not sure how this will go, but the hiring manager is quite excited to move forward to the final round. I guess I will wait and see. If I do get this offer, I need to juggle between 2 jobs in the upcoming 3-5 months.

My wife and I are expecting our 1st child. We sold our home and relocated to central FL earlier this year and so far it's awesome...no income tax, cheap rent on new constructions, theme parks, beaches, low cost of living, and nice people. We are in late 20s and early 30s, and we are already planning for retirement...I think if opportunities are there, I won't turn down WFH roles, before we become digital nomads and move overseas.

Alright, enough from me. How is everyone doing out here? What's your retirement plan?

What is an AD position? How did you learn the statistics and programs to run those reports?
Also, if this is a small upstart company, is that the reason you got stock options and got lucky someone bought the company? How did your remuneration work?
Curious how this part of pharmacy I know little of, functions. My dean used to work for Pfizer in the marketing department. Big Pharma has consolidated, leaving only half of the employers, post 2000.
I think pharmacists do compliance and safety and testing work. Sometimes they manage the drug sellers that go into offices and hospitals.

 

[hello_world02]

What is an AD position? How did you learn the statistics and programs to run those reports?
Also, if this is a small upstart company, is that the reason you got stock options and got lucky someone bought the company? How did your remuneration work?
Curious how this part of pharmacy I know little of, functions. My dean used to work for Pfizer in the marketing department. Big Pharma has consolidated, leaving only half of the employers, post 2000.
I think pharmacists do compliance and safety and testing work. Sometimes they manage the drug sellers that go into offices and hospitals.

AD is associate director.

The company I work for is small but has been acquired now by a big whale.



I have an option grant that is worth ~300k, plus 40k rsu grant. I anticipate to be laid off mid-next year, fingers crossed. If that works out, I can walk away with >400k lump sum, including accelerated vesting and severance package.



Update: I didn't get the large pharma contract job after last round. BUT I did get a remote long-term full-time contractor offer that pays a bit more from a mid-sized pharma, and a flex schedule remote part-time offer from a small pharma with a comparable pay rate.

 

[hello_world02]

Good to hear you’ve found your niche and doing well financially despite the plethora of obstacles us (relatively) young professionals face (student loans, rising house costs, priority juggling, etc.)

I seriously asked one of my young, hip technicians to explain what 6, 7 means…(shaking head, laughing)

I have to say I got lucky. I also hit the jackpot with the company M&A deal. It is a once-in-a-lifetime opportunity, as our ceo said to us at townhall.

Things are looking great, and I will continue to work for another several years.

With our kid coming in a few months, I am exploring possibilities of working and semi-retiring overseas long-term, i.e., Japan, Malaysia, Taiwan, and China, etc. Inflation is out of control, and looking at the quality of life these countries can offer with a fraction of cost makes us wonder why we should continue to stay here. We may save and invest more if we move elsewhere.