Happy Thanksgiving!

Despite our circumstances we still have much to be thankful for during this holiday season. Some of you may find yourselves displaced from your pharmaceutical sales job, while others may find yourselves trying to figure out your career purpose or passion because you definitely know that pharmaceutical sales is not it. Nonetheless, let's take a moment to reflect on what's really important in life during this Thanksgiving season. Family, health and peace of mind are just a few things that I am grateful for. Please take this time to enjoy all that's well with your life. Monday will be here soon enough. Have a happy & safe Thanksgiving!

Pharmaceutical Sales: Golden Ticket or Golden Handcuffs?

For as many pharmaceutical sales reps who say they love being in pharmaceutical sales, you will find just that many who don't.  In a thorough search of the internet and various forums you will find those who will do anything to break into the industry.  Prospective pharmaceutical sales reps join various groups on LinkedIn trying to find others who can give them insight into the industry, ask questions on CafePharma forums to get specifics about various pharma sales openings, salaries, etc. and ask for advice on Yahoo Answers about how to "break" into the industry.  Students, recent graduates, professionals and the like are all looking for the best way to start a lucrative career in pharmaceutical sales.  Just like I did, when I first researched this most coveted position during my senior year of college, many potential candidates only see the above average starting salary, great benefits, company car, laptop computer, cell phone, expense account and flexibility that pharmaceutical sales careers offer.  I wonder if anyone has researched or been made aware of the actual responsibilities of the job or the major challenges that currently exist in the pharmaceutical industry.  I must admit the industry was at its peak when I joined Big Pharma over 10 years ago, but has been going down hill at a rapid pace ever since.  I can only imagine how great a pharmaceutical sales position was 20-30 years ago.



However, the current pharmaceutical sales environment leaves much to be desired.  Don't get me wrong; anyone who has a job at all in this environment should count him/herself among the fortunate ones, nonetheless, this industry has become a disappointment to many.   Anyone who performs his/her due diligence will find that starting salaries have been cut nearly in half, benefits do not benefit one nearly as much, the company car has been reduced to a car allowance (or even less, mileage reimbursement), the corporate credit card has been switched to expense reimbursement and flexibility has been replaced with computer signature tracking.  Now, many will still argue that pharmaceutical sales is the Bentley of all jobs, but it all depends on what one values most in his/her career.    In addition to all the changes in compensation and perks, there have been monumental changes in pharmaceutical marketing guidelines, managed care reimbursement and medical practice access; all of which have limited the role and value of the pharmaceutical sales rep.


The bottom line is this: pharmaceutical sales can be a GREAT job...for the RIGHT person.  Whether it is a golden ticket or golden handcuffs is for you to decide.  Let us know how we can help!

{Hint: This is the time for you to vent.  Remember to keep it "above the line".}

Career Spotlight: Physician Liaison - Capitalize on Your Current Relationships

The Physician Liaison position is one that I have seen a lot recently as hospitals and healthcare systems buy out private medical practices and seek to increase patient loads.  The Physician Liaison is essentially an account manager who develops and strengthens relationships with physicians within a particular healthcare or hospital system, as well as solicits referrals from medical professionals outside of their particular network.  This is a great position to transition to because in many instances you will have the opportunity to work with physicians you are currently calling on.  Here is the job description for an actual Physician Liaison position:

Description

This position is responsible for strategically planning and implementing visits to physicians, physician office staffs and other potential referral sources throughout the primary and secondary markets.

Reports on the activity level and outcomes of activities on a regular basis, focusing on increases in volumes and/or addressing issues.

Responsible for assisting in the development of the annual hospital business plan and development and implementation of the hospital marketing plan for all service lines.

Performs other duties as required.

These positions are easy to find.  Just search for the job title in your city or surrounding areas at Indeed.com or SimplyHired.com.  These online job boards pull job postings from all the major (and some minor) online job boards.

Know Thyself: Identifying Your Strengths & Finding Your Passion(s)

You have been a pharmaceutical sales rep for a while.  It has become your life; it is all you know.  You feel like you have lost yourself in your work and are not quite sure what else you can do.  Maybe you know exactly what you want to do next and can't wait to get started.  Then this post is not for you.  This post is for the pharmaceutical sales rep (current or displaced) who is struggling to find Plan B.  I mentioned in previous posts that there are numerous career assessments available online; many of them are free.  If you become a Professional or Executive member of Get Off the Pharm, we will send you a copy of Strengthsfinder 2.0.  It is important to get started right away identifying your gifts, skills, talents and passions.  Can you recall what you enjoyed as a young child, student or adult?  What do you enjoy doing now?  What are your hobbies?  What do you gain pleasure from doing?  What would you do for free?  These are indicators of your passions.  What do people (family, friends, colleagues, managers) often tell you that you do well?  What are you able to do with little effort or thought?  These are most likely your gifts or talents.  What has your manager consistently listed as your strengths on your performance review?  What have your colleagues complimented you about?  These are probably your skills.  Our goal is identify what you do well and what you enjoy doing.  There is no need to highlight your weaknesses, so don't go there.  Once we identify your strengths and find your passion(s) we can move forward in the goal setting process to help you determine your most productive next steps.   Remember, we are more than happy to assist you in any way we can.

Step 4: Work Your Plan

As Nike has so eloquently stated for years, now it is time to "Just Do It".  Stop complaining about your job, stop talking about your manager and co-workers, stop wasting time worrying about your numbers, and start working the plan your created to get off the pharm.  Think of it as your new hobby, a new part-time gig, if you will.  When you are not working (or spending time with your family) you need to be working your plan (i.e. implementing your exit strategy).  And, by all means, please be careful and discrete.  Do not neglect your current job responsibilities.  The last thing you need is a RED flag that brings attention to the fact that you are planning your exit.  For example, if you have decided to start your own company it might not be the best idea to add it your LinkedIn profile just yet.  Or if you are looking for another job, please be careful who you ask to be a reference for you.  As you work your plan you may have to utilize many resources: the internet, resume writers, career counselors, headhunters/recruiters, mentors, etc.  Please know that the team at Get Off the Pharm is here to help in any way that we can.  It is our goal to see you get off the pharm as quickly and safely as you can.  Please let us know how we can help.

Step 3: Develop a Plan to Get Off the Pharm

According to our inaugural post there are 4 steps to "Get Off the Pharm".  First, you need to know why you want to get out of pharmaceutical sales.  Second, you need to assess what else you want to do (i.e. change careers, become an entrepreneur, become a stay-at-home parent, etc.).  Third, you need to develop a plan to achieve your goals.  Finally, you need to work your plan.  We have discussed Steps 1 & 2.  In this post, I would like to discuss Step 3.  In order to reach goals in life it is important to develop a plan.  As pharmaceutical sales reps we typically develop business plans on a quarterly basis, as our goals tend to change from quarter to quarter.  If your goal is to "Get Off the Pharm" this situation is no different; you must develop a plan.  Now, if you have completed Step 2 you have already set a goal by deciding what you want to do after pharma.  Your plan will most likely include steps such as, revising your resume, sending out resumes and applying for jobs online, networking, saving money, etc.  A timeline must also be part of  your plan.  You must decide when you would like to have this transition completed and what steps need to be completed by what dates in order to meet your final deadline.  For example: If you are looking for another job/career and you know you have a certain amount in savings that will last a certain amount of time your timeline may look something like this.  Month 1: Revise resume.  Months 2-9: Apply for jobs, interview, network.  Months 10-12: Review job offers, submit letter of resignation, transition.  Now, of course that is a very aggressive timeline for this current job market and not very specific, but it will suffice to serve as an example.  Your plan could also include working with recruiters/headhunters (but, remember that they work for the company, not YOU), career/life coaches, resume writers, and mentors.  You may also want to shadow someone in the field in which you would like to transition.  Get Off the Pharm is dedicated to helping you through this process in any way we can.  Please subscribe to our monthly newsletter for more resources, tips and tools to help you "Get Off the Pharm".