Compensation Questions to Ask During the Interview
Compensation Questions to Ask During the Interview
As we all know, compensation is not something you get into until the final interview. During the second or third interview, it is deemed appropriate to discuss the compensation plan in some detail as it is brought up by the hiring manager
Most medical sales recruiters will have a ball park idea of the compensation plan as presented to them by the company. Most of the time the numbers will be projections “at sales plan.” It is important for you to probe the hiring sales manager enough to satisfy yourself of the realism of the sales plan. Compensation numbers from a recruiter are projections at best and should not be construed to be concrete. You must get these answers from your hiring sales manager.
The following questions should be asked of the hiring manager prior to any agreement regarding compensation:
1) Does the plan reward for results?
2) Does it reward results on new-product launches?
3) Does it support market-share objectives?
4) Does it adequately reward new-account sales?
5) Does it prevent the sales representative from going over individual compensation budget if company forecast is missed?
6) Does it pay commission or bonus from dollar one?
7) Does it attract and retain talented reps?
8) Does it reward top achievers?
9) How often does your compensation plan change?
10) What is the typical pay-out for the Top 10%, Top 25% and Top 50% of the sales force?
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