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Yes
Yes. Biotech maybe not quite as lucrative as big tech but you would be $250-300k total comp with 3-5 YOE at big tech.
6 yoe. Fintech inhouse. 360k base.
Chief
not for your in house experience
Jump if you can.
Try to switch to m&a function. Much higher pay, title bump, and interesting work/visibility vs. commercial.
Sophisticated high impact transactions and corporate strategy. Not churning the same contracts over and over and over
That’s about right. Biotech will always be lower than pharma. Caution about commercial counsel jobs though - depending on the size of your team and your clients, you might end up working more in house than at a firm. If you are ok with that for at least a year, grab it for in house experience.
Your bonus percentage is too low. I would counteroffer with 170k and 15% bonus. They will probably settle around 160ishk.
Enthusiast
Good information. I am in Pharma and did not realize Biotech paid less. Thanks
I think you’re underpaid. I went in house at 4yoe in pharma and made $185k base plus a 20% bonus. I wasn’t commercial counsel but I am sure they were paid at least as much at my yoe.
Rip well I’m definitely hearing I’m underpaid thanks all. I’m not super sold on staying as a CC and would like to do something more general. If it stayed on the life sciences industry, what would be a reasonable TC I should shoot for? Is $200k-$230k reasonable?
In pharma you could hit $200k base or close. I have 6yoe and my base is $233k with a 25% bonus and 25% equity for reference as a hybrid Product, Privacy, and Commercial Counsel.
Our paralegals in-house made more than that