kidderek wrote:
refurb wrote:
. . . 10 hours a day but took a 1.5 h lunch, a couple 30 min breaks, went to the gym for an hour, etc.
gym for an hour? wtf.
refurb wrote:
However, I'll add that there is a lot of "fat" in the pharma industry. There are people who put in ~30-35 hr/week and take home $100K+. However everyone else knows they are lazy **** and their days are numbered.
Hmmm, Refrub, can you post a quick primer on the pharma industry.
What did you want to know? The examples I've listed above aren't the norm. A few of the really big companies who have done really well in the past (tons of cash coming in) have hired a lot of people who consider themselves entitled the actions I described above. You have to understand that I work on the R&D side too, where it's very difficult to measure performance (just because you failed doesn't mean you didn't do everything right) so a lot of these people are given the benefit of the doubt when they don't perform. I've also worked for companies where no one puts in less than 50 hours a week (a solid 50) and the people bust their asses most of the time.
Right now, the pharma industry is going through some really tough times. The old days when you could turn out drugs and cash would come flowing in are over. I liken it to what the auto industry in Detroit is going through, the old way of doing business is dead, but you can't turn a ship that size around in a year, it takes time and it will be a very bumpy ride. In 5 years, the top 5 companies (by sales) won't be in the top five anymore. The latest stat I've read is that over 125,000 people in pharma have been laid off in the last year and a half.
Even some of the old biotech giants are falling on hard times (Amgen for example). The industry as a whole seems to ebb and flow and right now it's in the gutter. The interesting thing is, where there is turmoil there is opportunity. I think you'll see some major changes to the industry and those who are smart enough to contribute will have very successful careers.
I still plan on working in the pharma/biotech industry post-MBA, I just find the work and the market dynamics too interesting to give up. The benefits are second to none and if you have the skills you can really go places.
RF