COMP: How HR Determines Compensation and Titles for Job Offers

In this episode, Chris Castin joins Tom Caravela to delve into the intricacies of compensation and negotiation processes for MSL roles. They explore how to prepare for job offer negotiations while emphasizing the importance of transparency and the risks of over-negotiating. Chris provides insights into HR perspectives and how offers are determined using formulas and data, highlighting the significance of internal equity. The discussion covers the role of job titles, leveling, and the impact of experience on role effectiveness. They also analyze written job offers, discuss sign-on bonuses, and offer advice on responding to offers with effective negotiation strategies. The episode concludes with practical advice for MSLs navigating job offers.

My guest today is Chris Castin, Senior Director, Talent Acquisition NKARTA Therapeutics and we discuss how HR departments determine compensation and titles for job offers

Chris shares…

👉 The HR formula for determining job offers
👉 What you need to know to negotiate an offer
👉 What information is expected in advance of the job offer
👉 How and why sign-on bonuses are used
👉 The way HR determines titles and leveling

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MSL Talk is a podcast that features helpful information for current Medical Science Liaisons, Medical Affairs leaders, job seekers looking to break into the pharmaceutical industry in their first MSL role as well as anyone interested in hearing good industry conversation and medical affairs discussions.

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(0:00) Introduction and guest overview
(1:31) Guest background and experience
(2:37) Overview of compensation and negotiation processes
(5:29) Preparing for job offer negotiations
(7:18) Importance of transparency in negotiations
(9:10) Dangers of over-negotiating
(11:28) Understanding HR's perspective on job offers
(15:20) Determining offers: Formulas and data
(18:36) Importance of internal equity
(23:59) Job titles, leveling, and MSL role significance
(27:01) Experience level and role effectiveness
(30:24) Analyzing a written job offer
(34:26) Sign-on bonuses and their negotiation
(37:15) Responding to job offers: Timelines
(39:14) Effective negotiation strategies
(41:39) Closing remarks and final advice