In Industry, It’s About More Than Just Salary

July 24, 2013

Pondering a career in industry?  Then you need to be aware that the industry job offer may contain elements not part of offers in academia, government or non-profits; industry jobs often include a profit sharing plan.

Industry profit sharing takes two basic forms; dividends, a cash payment made to employees and share-holders based upon the performance of the company, usually on an annual basis, and equity, the actual ownership of shares of the company.  Equity in a company is granted by one of the following methods:

  • Stock grants:      A company may grant actual shares of its stock to employees.  The value of these grants is determined by the price at which the shares are traded on one of the stock exchanges.  An example: You are granted 100 shares at $5 per share. Over time if the value rises to $10 per share; the grant becomes worth $1000 after a vesting period.  Vesting is the time that you are required to hold the stock before you can sell.  If the vesting period is four years, you may sell up to 25% of your shares each year, or you can wait the four years and opt to sell all of your stocks.
  • Stock options:   If the company grants a stock option, it gives you the right to buy a specific number of shares of your company’s stock during a time and at a price that the employer specifies.  Typically this stock price is lower than market value.  As in the above example, you are granted the option to purchase 100 shares at $5 per share.  If the value rises to $10 per share, the option to you becomes worth $1000, minus the $500 you paid, or $500.  As in stock grants, a vesting period usually applies for options as well.
  • American Depository receipts (ADR’s): ADR’s are used by non-American companies whose stock trades on a foreign exchange to provide an equity vehicle for American employees.  Its value to you would be calculated in the same manner as a stock option.

Most importantly when considering a job offer, make sure to take into account the offer in its entirety, not just the salary.  The value of these other elements may comprise a significant percentage of total compensation.  In some cases, where the value of the stock has risen tremendously, many of their employees have made huge sums of money.  However in other cases, where the stock has hovered near its price at the public offering, employees have made very little.

The value that these profit sharing vehicles can add to your compensation may vary.  Make sure you connect with your Career Services Center (for NIH intramural trainees that is the OITE) to help you with the negotiation process to optimize the value of the offer you receive.

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Dont Leave Us Hanging!

July 16, 2013

As you get ready to end your summer internship or your summer rotations as a grad student, don’t forget to keep in touch.

We often hear from our younger trainees that you enjoyed your summer experience.  You like the research and felt you got along great with your mentor(s). Yet, when many of you write to join the lab again the following summer or to get a letter of recommendation your feel like you never hear from the advisor or you get a lukewarm response.  “Why?” you ask,  “I did good work.”   Of course you did, you just forgot to demonstrate how much the work meant to you and how much you want to stay a part of that work.

We know that it can be hard to keep up with your labs when you leave (without feeling like a stalker).  So, here is a suggestion to get started.  Send your PI a brief thank you note within a month of leaving.   This does not need to be a long email, just a few short lines thanking them for letting you be in their research group, something valuable that you learned, and that you hope you can keep in touch.  Write a separate (and different) letter to your day to day mentor or supervisor in the lab, probably your postdoc or graduate student.

You can always follow up anytime with a quick hello, and to let people know that you still are thinking about your experience.  Once a semester is even enough.  Ask about the project you worked on and if there has been any progress.

If your research has helped your coursework or your coursework has finally made something you learned during the summer more clear, let people know.  (i.e. this week we studying signal transduction which made me think about…)

Follow pub-med-watch to see if that paper that the lab was toiling over all summer was finally published.  Then send a note to congratulate the authors.

Connect online, LinkedIn is a terrific way to make a connection.  You should ask your advisor and other labmates if they would like to be connected before you send them an invitation.  Also, remember LinkedIn is static, and not everyone in the scientific community yet uses it to its full ability.  It will not replace an active networking outreach as described above.

When it comes time to return to the research group or to ask for a letter of recommendation, remind them who you are and what you did in their group.

Good luck to you as you wrap up your summer research experience, we are glad you came!


How a Mentor Helped Me Succeed…and How I Now Get to Help Her

July 10, 2013

Post written by Lori M. Conlan, Director of the Postdoc Office and the Career Services Center at the OITE

This week I had lunch with the first mentor I had outside of the lab environment. In 2006, I had just left my postdoc to join a non-profit in Manhattan—the New York Academy of Sciences. I knew I could do the job running a career development program for graduate students and postdocs, but I was clueless about how life worked in an office. I started on a Tuesday, and by Friday I was sent off on my first business trip to Miami. One of my colleagues, the VP of marketing and membership, went with me. Through out the entire trip she explained the rules of the trade and actively engaged me in business meetings with university leaders. She was never officially charged to be my mentor, nor did I specifically ask her to be my mentor—it was a relationship that grew organically due to the integrated nature of our work. Over the next year or so this terrific mentor helped me learn to develop successful marketing campaigns, improved my non-technical writing, taught me how to be persuasive, and most importantly how to navigate office politics and big egos. I always knew that she was giving me more than she was receiving, but she has always been passionate at mentoring the next generation. We loosely stayed in touch after she left the organization, a common thing that happens with networking and mentoring. I was always appreciative that she smoothed the transition from the bench to the desk, but never knew how I was going to give back in the circle of networking.

Fast-forward seven years. She and her husband are moving to DC for his job and she is looking for connections here. Now, I am happy to be on the other side giving back to the networking relationship. We chatted about what her passions are and how she can relate her skill sets to those passions. She went away from lunch yesterday with broader ideas about the types of places she would like to work, specific venues in DC, and even a few introductions. I know she is a master networker, and has met with tons of people as she explores what is next in her career, but I did feel like I gave back a bit for all the good she did for me years ago.

When I talk with fellows about finding mentors, they often ask, “But what do I have to offer them?” So, as you ponder setting up mentoring relationships and you wonder about how you will give back to the relationship—don’t underestimate what you may be giving back in the future. Mentoring always leads to positive outcomes for both people in the relationship. And what those positive outcomes are changes as your lives change. I hope you too find a mentor that you can connect with for years to come.  And don’t worry if you lose touch, these good mentoring relationships can always be re-invigorated no matter how long you have been apart (even seven years in this case).

Check out the OITE’s other blog posts for more on mentoring and networking