Considering leaving my current role ($200k, Chicago, Operations Strategy) for a full-time 1099 role at a former colleagues start-up (Pharma PM role initially, but has potential to evolve). We are very early on in the conversation, but I know I need to be asking for about 1.3-1.5x to not be taking a salary cut.

$200,000 x 1.5 = $300,000 / 2,000hrs = $150/hr

Does this math check-out? Does this seem realistic to ask for / expect?

What are typical rack-rates for big-pharma PM’s these days?

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Posting as :
works at
You are currently posting as works at

Purchasing insurance, which is the most important but expensive benefit these days, is what you’ll be missing as a 1099 (it’ll be even more expensive if you have dependents). Are you certain you’re going to be full-time and they won’t cut your hours?

I’d suggest a rate of $250 and go no lower than $200, which is roughly double your current salary rate.

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You are correct that insurance is the top priority as I currently have my wife and a 7 month old baby girl as dependents.

It’s a risk for sure, but I would be getting in at the ground floor of something that could really end up taking off - this is also the only reason why I would be open to making a lateral move in terms of salary.

Again, still early on in the conversation, but if this ends up happening, I would make sure to negotiate a minimum of 32hrs per week.

I’m just trying to get a sense for where a reasonable starting point to begin negotiating my hourly rate would be be.

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