I read today that Sanofi’s new CEO will collect over 2 million Euros as a signing bonus, not to mention his other bonus in 2016, a cash incentive pay for 2015 PLUS his annual base salary. Now, the article goes on to say that while it’s a lot of money, it falls short of compensation packages for people who work at other Big Pharma. But what they don’t say is that it’s not OK.
Yes, we need top talent to run companies that are making drugs or therapies that are meant to Improve Patients’ Lives. We all know that compensation, especially C-Suite compensation is disproportionate to everyone else who works within the organization – whether you compare the salaries or wages of janitors, laboratory scientists, or even Executive Directors.
Wouldn’t it be an interesting twist that instead of taking on all of that salary and cash that some of the money be put back into the company to support what they are supposed to do: research, development, marketing, etc. to improve patients’ lives. Isn’t it time that we lose the excuse of paying and accepting exorbetent salaries just because everyone else is doing it?
“The one who follows the crowd will usually get no further than the crowd. The one who walks alone, is likely to find himself in places no one has ever been” Albert Einstein