18 votes

How do you assess your "market value" for a niche role?

I'm in a fortunate position of being in a reasonably well compensated but very specialised role in the pharma industry, and after some recent layoffs have been casually surveying what other opportunities might be out there.

However, I'm really struggling to get a sense of my market value, as little to none of the salary info on e.g. Glassdoor or published surveys from recruitment bodies captures anything similar to my position.

My compensation is way off published ranges I can find, so I don't know if I have "golden handcuffs" or if the data I am looking to is garbage.

In effect, my position developed organically over a few years, and has bits of middle management as well as governance, project management and individual contributor work. I don't think there is even anyone within my organisation with a similar role, I have several responsibilities which normally you wouldn't concentrate under one individual if you were designing from the ground up.

I'd be really interested if anyone has been in a similar position, or any recommendations to on how to benchmark yourself when it isn't obvious what you should be benchmarking against.

9 comments

  1. RapidEyeMovement
    Link
    This means you cannot be replaced by one person. If your employer had to go out today to the job market there is no one who could fill your shoes, it would probably take 2-3 people to do it....

    In effect, my position developed organically over a few years, and has bits of middle management as well as governance, project management and individual contributor work. I don't think there is even anyone within my organization with a similar role, I have several responsibilities which normally you wouldn't concentrate under one individual if you were designing from the ground up.

    This means you cannot be replaced by one person. If your employer had to go out today to the job market there is no one who could fill your shoes, it would probably take 2-3 people to do it. Probably people adjacent to you absorbing some of what you do if they can. And hiring for what cannot be done by those around you. (I would hope your employer has already thought that part through).

    I built myself a little fifedom like that at my old job, as long as you are happy where you are ,but it can be hard to move up the ladder when you are doing this.

    I left because I was burned out, being pulled in 20 directions, I doubled down on the areas that I wanted to grow, and looked for a roles with those challenges.

    I guess one way to figure out your worth would be to ask yourself what would happened if you left tomorrow how would your employer cope. Who could take up your project management role, what do they get paid and how much of their time would be taken up doing it. (Salary/time) Do that for each of your specializations. This might give you a rough estimate of your worth.

    4 votes
  2. bendvis
    Link
    This sounds a lot like my current role. All in all, I'm a software development lead that also wears a few extra hats. I'd suggest finding the best possible fit for your role (probably a middle...

    In effect, my position developed organically over a few years, and has bits of middle management as well as governance, project management and individual contributor work. I don't think there is even anyone within my organisation with a similar role, I have several responsibilities which normally you wouldn't concentrate under one individual if you were designing from the ground up.

    This sounds a lot like my current role. All in all, I'm a software development lead that also wears a few extra hats. I'd suggest finding the best possible fit for your role (probably a middle manager of some sort) and add ~25-40% for the additional responsibilities you've got.

    Also, it's almost certain that you won't find the exact same role at another company, so rather than try to tick all the same boxes you have now, you might just shop for the position you'd like to have next in terms of career progression.

    3 votes
  3. MimicSquid
    Link
    That's a sticky one, since it sounds like you've moved into a niche that doesn't exist in other companies. What I'd recommend is looking at similar positions, and how much of your time could fit...

    That's a sticky one, since it sounds like you've moved into a niche that doesn't exist in other companies.

    What I'd recommend is looking at similar positions, and how much of your time could fit within those buckets. If you're 30% this and 40% that and a whole lot of slivers of other positions, just take those cuts of the various positions, average it all out, and then multiply it by 1.5 for making it so they didn't have to get individual specialists for the various roles you fill. It won't be exact, (and you probably couldn't sell anyone on hiring you for an identical position elsewhere), but it'll price your general ballpark.

    2 votes
  4. catahoula_leopard
    Link
    Do recruiters ever contact you with similar roles, even though it is niche? If so, I would ask for a salary range from everyone who contacts you with a remotely relevant opportunity. Otherwise, I...

    Do recruiters ever contact you with similar roles, even though it is niche? If so, I would ask for a salary range from everyone who contacts you with a remotely relevant opportunity.

    Otherwise, I would recommend figuring out what the closest possible role is that is more common, and assess market value of that role as a benchmark.

    I work in a relatively new area of tech/business operations where universally agreed upon titles are actively developing, so for a while I had to do research using a few different roles, basing it more on job descriptions rather than titles. After I talked to enough people and made connections who do similar work as I do, I eventually figured it out.

    2 votes
  5. codefrog
    Link
    Honestly, a position like that sounds like one that almost has to be developed organically, as happened to you. Which, unfortunately, might mean there is no market value for such a position, as a...

    Honestly, a position like that sounds like one that almost has to be developed organically, as happened to you.

    Which, unfortunately, might mean there is no market value for such a position, as a typical company would not hire somebody from outside into such a position.

    A best effort might be something like looking at the market rates for the titles of each disparate job function you do and seeing what is highest.

    Maybe it's feasible that all your extra knowledge can help you land a role above that (like who is above a project manager and what do they get paid?).

    Maybe just go all out and shoot for a director role?

    2 votes
  6. [4]
    imperator
    Link
    I'm also in Pharma but I'm in finance. So a lot of my skills do transfers over quite well. So you'll need to find where your skills overlap in different areas. There are some roles in Pharma in...

    I'm also in Pharma but I'm in finance. So a lot of my skills do transfers over quite well. So you'll need to find where your skills overlap in different areas. There are some roles in Pharma in the finance area that are only in Pharma such as chargebacks and the rebate/fee area. But the skill sets are what transfer over. Analytics, project management, customer service/customer interfacing. You'll have to look at those then look at LinkedIn and find jobs that use those skill sets. Then use glass door or salary.com to get an idea. A lot of jobs now require depending on the state to post the salary range. If you're able to give a little more info others may be able to help.

    2 votes
    1. [3]
      radium
      Link Parent
      Are you a buyer? 340b? With responsibilities in implementing new services and projects? Have you looked upstream? Do the companies making the tools you use/manage need to hire someone with...

      Are you a buyer? 340b? With responsibilities in implementing new services and projects? Have you looked upstream? Do the companies making the tools you use/manage need to hire someone with experience in your field?

      1. [2]
        imperator
        Link Parent
        I work for a manufacturing company in Pharma. So some of the teams I interact with validate the chargebacks for 340b purchases. I was in Treasury, but got pulled over to help overhaul the AR...

        I work for a manufacturing company in Pharma. So some of the teams I interact with validate the chargebacks for 340b purchases. I was in Treasury, but got pulled over to help overhaul the AR group, analytics, and help build out new processes for the Chargeback team.

        1 vote
        1. radium
          Link Parent
          Sorry for some reason I thought I was replying to OP lol

          Sorry for some reason I thought I was replying to OP lol