It’s that time of year again: Santa is preparing his list of naughty and nice biotech management teams, and taking his recommendations to the Compensation Committee. As I’ve been sitting through several of these meetings already, I thought it would timely to share a few reflections on the topic. Before sharing, I’ll add a warning: while analytics are important for benchmarking compensation vs the Joneses in the biotech next door, it shouldn’t drive the process. The role of the Compensation Committee is to embrace the nuance of the situation, as every company and every member of management has different make-up, history, context, and story. So here are a few general observations.
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