biotech startup salary

If you're a director at a biotech, maybe add $30-40k to that. Salaries above this are outliers. There isn't a lot for cycling between industry and consulting at the firm. The possibility of a lower cost of living may help determine the balance between location and salary for a Biotech Startup role. One of the places to start when evaluating your CEO salary is by evaluating the benchmarks and peers in your industry. I have offers in hand from big pharma and tech for those salary ranges so I guess I will end up at a larger company this time. Anyway, I know to be more circumspect now. Factoring in cost of living expenses should be considered as well. But most biotech startups, even … Scientist... 139 job openings. Maybe everyone takes a 30% pay cut to go into start ups and that I what I need to calibrate on when I interview. per year. Average salaries can vary and range from $46,935 to $432,542. New biotech startup careers in Seattle, WA are added daily on SimplyHired.com. In biotech, that level of competition for great hires just isn't there. Not trying to be a total jerk here, but your all-in number sounds absolutely outrageous unless you're CSO or CFO or something. Also: equity is nice, but I've seen too many biotechs not make it to the end of the road for it to really be a huge draw. Data used to develop this report includes ADP data. 15 biotech startup jobs available in Seattle, WA. If you’re curious what to expect, we recommend playing with the salaries and equity tool by AngelList or researching salary ranges at specific companies on Glassdoor. For tech, there is higher valuation for human capital. Highest salary I was ever offered, which would have been for a director with a team of 20 people reporting to me, was ballpark $220k + a bonus - but I'd have had to move to the great lakes area. Celgene, the compensation leader, pays its typical employee more than $263,000. $179,271 is the 75th percentile. Leo Polovets created a survey of AngelList job postings from 2014, an excellent summary of equity levels for the first few dozen hires at these early-stage startups. Pharma/biotech companies often offer high pay and good benefits. $86.19 is the 75th percentile. I hesitated when they asked and then told them what the other offers where that I was entertaining, while emphasizing that I was excited about this opportunity and the growth potential of working a startup. Remember biotech TORCHES through money. Negotiating salary at a biotech startup I would like some advice on structuring compensation negotiations and expectations at early stage (series A/maybe B) biotech start ups? Biotech Startup Salary in Massachusetts Comparison by Location. Research Scientist, Biomarker Development - Neuroscience, Universal Sequencing Technology Corporation, Associate Scientist/Scientist - Inflammation, Associate Director/Director, In Vivo Pharmacology, ZipRecruiter, Inc. © All Rights Reserved Worldwide. Biotech companies have quietly—or not so quietly, depending on your focus—been doing phenomenally well over the last couple of years. Most of my peers with PhDs have exited to late stage startups or big pharma. This is all at PhD scientist level so not sure about managers. They seemed to indicate that the using your market comp as a starting point, accepting less cash and making it up in equity was common. For bio, because there is so much negative cash flow, the main assets are really the drugs and/or tech platform. Once you leave, you leave. I would like some advice on structuring compensation negotiations and expectations at early stage (series A/maybe B) biotech start ups? Things aren't matching up here. Wages below this are outliers. $4,979 is the 25th percentile. I am not expecting to make $200k in salary. Massachusetts ranks number 1 out of 50 states nationwide for Biotech Startup salaries. Again, I am not trying to be argumentative, I am just using that example from tech to illustrate what I am looking for here in biotech. I never thought that I would get $200k cash from a start up. If you have the background you say you have, you would not be asking reddit the questions you are asking. Estimated: $74,000 - $98,000 a year Research Associate … Wow. The CEO said I was way out of the ball park, he was thinking about 50% of my number and a small equity stake. However after a few rounds, their salary caught up. _is a well-funded biotech startup company, focused on novel cancer and autoimmune disease therapy discovery. Meanwhile, those of SaaS companies made on average $113,000 in 2018, which … New comments cannot be posted and votes cannot be cast. Just in case you need a simple salary calculator, that works out to be approximately $59.35 an hour. It's not the "startup" part that's key - it's the biotech part. News about any technological application that uses biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use. Research. Seed-funded startups would offer higher equity—sometimes much higher if there is little funding, but base salaries will be lower. $99,000. I expected that they would pay less in cash for all the reasons that have been stated. Argo … It is a negotiation after the interview. So one thing I learned was it is important to frame it correctly, the reaction might have been very different had I said $150 plus bonus and equity. Managers and functional folks can work at any number of companies that are safer and pay much, much better. The low-stress way to find your next biotech startup job opportunity is on SimplyHired. ZipRecruiter salary estimates, histograms, trends and comparisons are derived from both employer job postings and third party data sources. Average annual salary … Salaries estimates are based on 155 salaries submitted anonymously to Glassdoor by Biotechnology Start-up Development Manager employees in Tampa, FL. Apply to Research Associate, Field Application Engineer, Scientist and more! We're sending an email you can use to verify and access your account. Wages above this are outliers. My target was $225k all in, including the present value of the options. You would happily work for next to nothing (which obviously won't be the case). Salary ranges can vary widely depending on … Salaries above this are outliers. $18,164 - $199,376. See salaries, compare reviews, easily apply, and get hired. Estimated: $52,000 - $69,000 a year Quick Apply … I am interviewing for positions in industry at both large companies and startups, think roles like senior manager/director of portfolio management or business development. The average Scientist I - Biotech salary in the United States is $100,506 as of February 26, 2021, but the range typically falls between $91,322 and $111,935. I don't know what the rule of thumb is to begin negotiating or evaluating offers from start ups relative to those mature companies. Some even offer stock options. Biotechnology is the place to be for top salaries, a Wall Street Journal analysis shows. $1,149 is the 25th percentile. So I did talk alot to folks that recently exited but they went to tech startups. The following data is from the Kruze Consulting 2019 Startup CEO Salary … I have a very good idea what my skills would get me at an established company in tech or biotech (All in compensation - salary, bonus, equity in the $225-$250 range in tier 1 cities like the Bay Area, Boston, etc). That would mean that I only get made whole compensation wise if the company doubles (or more) in undiluted value. I understand that biotechs burn cash at an astonishing rate and for a very long time. A reasonable bay area salary for a scientist is going to be $100-130k, depending on the company. Topping the list is Cambridge, with Lynn and Boston close behind in second and third. If the company succeeds they'll be worth 10x as much or more. Edit: Well, good management is happy to pay for results lol. When I talked to a mature pharma company, they had a higher base, 18% bonus, and <10% in stock grants. You should try to find some mentors that are not anonymous internet folk (me included). According to data in the PitchBook Platform, 549 U.S. biotech … I think $150-175k all in is more reasonable. They started out ~20-30% less than a starting big pharma. I worked with biotechs that hadn't developed a steady revenue stream in year 15. While ZipRecruiter is seeing salaries as high as $256,413 and as low as $23,360, the majority of Biotech Startup salaries currently range between $59,757 (25th percentile) to $179,271 (75th percentile) with top earners (90th percentile) making $242,288 annually in Massachusetts. $116.48 is the 90th percentile. Data points on series A are just few and far between in my network. The biotechs I've worked with as clients have been post series c so when I talked to clients they were getting close to the going rate. I can accept that they are competing with academia for scientists, where pay is low and there is no upside. Keep in mind you will get fired quickly if you aren't absolutely excellent. Browse job listings for Biotechnology or refine your search by selecting a location or more specific job … I had done my research but was only really able to find information on technology start up salaries. If you know your password, you can go to the sign in page. Salary ranges can differ significantly depending on the job, industry, location, required … The small pubco guys are very different to deal with than the VC funded guys. Wages above this are outliers. I am not trying to discourage you from posting your questions to reddit, but it seems like you are too far along in your professional career to be relying on this type of forum to get the advice you seek. By clicking the button above, I agree to the ZipRecruiter Terms of Use and acknowledge I have read the Privacy Policy, and agree to receive email job alerts. I'm one of the highest paid scientists at my company, and I'm not making $200k, even though I have two bachelors, a masters, a PhD, have started my own company, and 20+ years of experience in my field, which includes being both a professional programmer and biochemist. This opportunity isn't the right one but I would like to be better informed about what I should expect the next time around. Just my two cents and I hope you find something that you are happy with and can prosper. Equity is funny money anyway, worthless until after the investors get their cash out, subject to dilution if you need more cash to extend the runway. Typically, with mature companies all in works well because they all have very different pay structures. *Salary estimates (ZipEstimate) are not verified by employers; actual compensation can vary considerably. Equity is usually given out at small companies, but even as the "Key hire" for a startup (which I have been several times), you shouldn't expect more than 1%. Perks grow as the company grows, but health care, some commuter costs, and maybe a gym membership. $276k Is the Median Startup CEO Salary for a Very Successful Company Keep in mind, the median salary of $276k is for the CEO of a company about to go public. It ended up not being a good fit for a number of reasons but the interview really went off the rails when they asked about compensation. The national average salary for a Vice President, Marketing (Research Biotech) is $143,523 in United States. Good luck. Just in case you need a simple salary calculator, that works out to be approximately $50.57 an hour. Do some fucking homework and stop embarrassing yourself. At big pharma, that is a very middle of the road senior manager/director salary for many roles. Filter by location to see Biotechnology Start-up Development Manager salaries in your area. They would want 10% for their investment so if they are successful in 5 years they get 10X. Salaries in tech companies are much higher than biotech - which I think is insane, but is clearly the case. I think you could expect an equity stake representing roughly 0.1 to 0.5% of the total outstanding shares over a 4 year vesting period as a first 10 employee with this level of managerial responsibility and experience. $3,447 is the 75th percentile. This is the equivalent of $2,374/week or $10,287/month. After all, Gilead stock has grown more than 4,930 percent in the last 15 years. I talked to a few from grad school that started at the series A and one earlier than that. We are entering fast growth track and expanding our… $70,000 - $150,000 a year Quick … $59,757 is the 25th percentile. Boston beats the Massachusetts average by 2.9%, and Cambridge furthers that trend with another $13,399 (10.9%) above the $123,440. You're really out of your mind. This is base salary though, hard to say what the equity is worth at that point. Find your next high paying job as a My firm's model is to mostly hire out of MBA and PhD programs then move you up the pyramid until you leave. $28.73 is the 25th percentile. on ZipRecruiter today. Learn more: Senior Software Engineer - Biotech startup helping dogs! With only a handful of cities paying above the average for Massachusetts, the opportunities for economic advancement by moving to a new location as a Biotech Startup is a decision to make with some caution. The information that they gave me informed my failed negotiating strategy. Tech startups expect a lot less education, and pay higher because the supply of really great engineers is lower. 617 Biotech Startup jobs available on Indeed.com. If you have some outlandishly rare skill set, you can add another $30k. Startup CEO Salary breakdown by Industry. Your privacy is our priority. Management is always happy to pay for results. Salaries above this are outliers. In the end, the base salary is the most important. Is there any benchmark for management positions at biotechs? You say you were in a management consulting firm for a few years, but that is different than an actual management (director type position) at a biotech is it not? Vice Presidents. I was surprised that they wouldn't even pretend to compete with equity. As the company grows, you might see more perks. Biotech Startup The average pay range for a Biotech Startup varies greatly (as much as $119,514), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience. Mean annual earnings for pharmaceutical and medicine manufacturing professionals were $67,010 in May 2015, according to the U.S. Department of Labor. The average salary for a Biotechnology Start-up Development Manager is $52,402 in Tampa, FL. Average salaries for "biotech startup" jobs in United States. $14,939 is the 75th percentile. I am just trying to get that number. Biotechnology Jobs in Corpus Christi, Texas&Biotechnology job openings in Corpus Christi, Texas. $20,190 is the 90th percentile. Your expectations are way off. What I was trying to understand is how they attract and retain managerial talent while paying 60% of market rate with little to no upside. The average salary for top biotech startup jobs is $80,620. $4,659 is the 90th percentile. Benefits. Any advice on how to open the compensation coversation. So I didn't have a lot of startup vets in my network. Salary estimates are based on 14 salaries submitted anonymously to Glassdoor by Vice President, Marketing (Research Biotech… Benefits at a startup … As the company matures, the salaries of all positions start to get closer and closer to market rate. The average annual pay for a Biotech Startup Job in Massachusetts is $123,440 a year. We’ve identified 4 cities where the typical salary for a Biotech Startup job is above the average in Massachusetts. Typically I would expect a Director to have 12+ years of experience and may ballpark 120 to 180k, at a well funded company, depending on many factors. Surprised that the biotech community is so salty about competing for talent. In 2018, CEOs of hardware startups had an average salary of $118,000, which rose 14% to $135,000 in 2019. The equity would obviously represent a investment, at risk, of lower cash compensation for the upside if the startup succeeded. As you can see below, the average salary of a seed stage startup CEO varies depending on the industry. Press J to jump to the feed. There are 533 jobs in Biotechnology category. You should have a professional network that would give you wayyyy more informed answers than you might expect here. I am in Boston so send me a message if you have any questions or want to chat. * Top 10 Related Jobs and Salaries Click a salary below to compare with top biotech startup salaries. I am trying to get the standard rule of thumb here for compensation package, even just a range. But all of offers we're within 10% on the total comp. The average pay range for a Biotech Startup varies greatly (as much as $114,062), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years … However, another factor to consider is the average salary for these top 10 cities varies modestly at 24% between Cambridge and Worcester, suggesting it may be difficult to see much positive wage advancement. The national average salary for a Biotechnology Start-up Development Manager is $65,937 in United States. Salaries below this are outliers. Biotech companies often provide stock options as incentives. A method for valuing the comp package to understand what I should be offered and a baseline to start the negotiations from. Anything else was leaving value on the table for the owners and investors to take. Wages above this are outliers. You need to view the upside of stock options as if they would more than double. $23,360 - $256,413. Based on recent job posting activity on ZipRecruiter, the Biotech Startup job market in Massachusetts is not very active as few companies are currently hiring. Salary estimates are based on 13,250 salaries submitted anonymously to Glassdoor by Biotechnology Start … You are intrigued by a job posting you just saw at a biotech startup, and the company appears to be showing some interest in you. As of Jan 5, 2021, the average annual pay for a Biotech Startup in Philadelphia is $105,180 an year. Unfortunately, the job market in Cambridge is underperforming for Biotech Startup jobs, so it may be difficult to land a position in this location. If you can do that, then negotiating won't be a problem. I know a few people that went to well funded biotechs past series B that got pay raises relative to their big pharma salaries, so if things go well, you can probably catch up. Why not get a feel for your prospects by asking others at the management consulting firm? A big company pays more, a small company will usually be on the lower end of that. Main assets are the programmers. Salaries … In other words, these companies were all tremendously successful up to the point of going public, yet the CEO’s salary was still lower than that we’ve seen for some Series A startups… Salaries above this are outliers. I don’t know what companies you were exposed to while you did consulting, but tech startups are not good analogs for biotech startups. I recently interviewed with a start up for a director level position at a post series A startup. Filter by location to see Vice President, Marketing (Research Biotech) salaries in your area. DynamiCure Biotech (www.dynamicure.com) is a well-funded biotech start-up company, focused on novel cancer and autoimmune disease therapy discovery. 353 Biotech Start Up jobs available on Indeed.com. A VC wouldn't invest $1 Mn in a company with a $10 Mn valuation for 5% of the company in the hopes that in a year they would get to even and if it was a success in 5 years they would make 5X (10X the initial value). I think you should check angel.co and survey biotech only advertised compensations. Biotech startup AbSci lands investment from Merck’s VC arm to fuel ‘Protein Printing’ technology by Taylor Soper on March 5, 2021 at 7:58 am March 5, 2021 at 8:00 am News Brief As they are in charge of managing entire companies and are often the public face of their organizations, this is the highest paid role in a company and salary is usually negotiated based on the individual’s experience and accolades. Is a biotechnology startup company located in Thousand Oaks, California that develops large molecule biotherapeutics for the treatment of cancer. I think over the course of these comments, I've realized one mistake was starting with all in number rather than salary. With established companies, there is no problem saying that my all in number is X and then they work that through their compensation model to come up with a salary, bonus, and equity offer. Why not make people at least close to whole when they sign on? Salaries below this are outliers. In the bay area, a director position for a biotech start up will more or less top out at $180-200, depending on your specialty, but $140-160 is much more common. Scientist... 36 job openings. There are over 15 biotech startup … It depends on the company and how it was financed. No, $200k+ is not even close to reasonable at a startup, especially as a relatively recent grad. FAQ. LASTLY, DO NOT WORRY ABOUT THE MONEY - FIND A JOB THAT IS FULFILLING AND YOU ARE PASSIONATE ABOUT. How much do Biotech Startup jobs pay a year? I have a very good idea what my skills would get me at an established company in tech or biotech (All in compensation - salary… ADP is an exclusive provider of employee payroll data for ZipRecruiter. Typically that means a base salary of $150-$170k plus bonus and options/rsus at the mature companies I interviewed with. To learn more about Compensation Estimates, please see our No startup will be paying you more than 120k. I work for a partnership now so they give a base, 10% retirement contribution, and a 20-30% bonus at my level. Because when I talk to people I know who went to tech start ups, they said the standard was to think of your investment (in reduced salary) in the same way that a VC or angel would. I understood that I was going to take a significant chuck in options or equity that has a ~80% chance of being worth $0 and a 15% chance of being worth something more than face value and 5% chance of being worth a lot. And of course Amazon offers a little less than MS, by dangling the growth potential but you don't have to do that math during the interview. As of Mar 3, 2021, the average annual pay for a Biotech Startup in Massachusetts is $123,440 an year. Wages below this are outliers. My office and network is focused on tech, not biotech. I also accepted that there may be some X% reduction in total compensation because of the additional opportunities that a start up provides. Showing 4 salaries for "biotech startup" in United States. The biotech startup sells a “Whole Transcriptome Kit” that can profile up to 100,000 cells in parallel across up to 48 samples. You're going to have the easiest time convincing management by devising a milestone mechanism. $242,288 is the 90th percentile. That CEO was right. I have an interview with a series C company tomorrow and will play my hand much closer to the vest. That's a lot of equity. You have no experience. At a higher growth company, the base and bonus was lower than either of the other offers but they granted a higher number of options. The average annual pay for a Biotech Startup Job in Florida is $88,767 a year. This sounds great. This is significantly higher than the mean salary … No one took a pay cut. To estimate the most accurate annual salary range for Biotech Startup jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America. Wages above this are outliers. The back story here is that I have a Ph.D and did a post-doc, neither hyper focused on the biotech's field, and then went to a top tier management consulting firm for a few years. Apply to Analyst, Product Manager, Engineer and more! How much do Biotech Startup jobs pay a year? I expected to take a lower salary and get options or equity that would get me up into the range of what I would make at a mature company. 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