►Editor's note:
The company introduced today is a brand that Ruko in the United States will never be unfamiliar with - CVS Pharmacy (CVS). A well-known pharmacy chain brand that can be found almost all over the country. CVS offers a wide variety of goods and services, from daily necessities to prescription drugs, and its iconic red and white logo has become one of the familiar symbols of international students in a foreign country. Let's take a look at the company's DS positions!
►Overview of the content of this article:
☑️ Company Introduction
☑️ Job description
☑️ Promotion paths
☑️ Remuneration
☑️ Tips for candidates:
· What kind of resume is required?
· Job opportunities and interview process
☑️Corporate culture.
►Company Introduction:
As the owner of the nation's largest pharmacy chain, CVS is a regular in the top five of the U.S. Fortune 500 list. Despite the sluggish post-pandemic performance, CVS still ranks sixth on the list in 2023 with total revenue of more than $300 billion, second only to United Healthcare.
Starting from pharmaceutical retail, CVS's core business includes:
Pharmaceutical benefit management
That is, Pharmacy Benefit Management (PBM). This is a unique product of the medical system in the United States, which provides third-party drug procurement services for various medical insurance plans. This revenue accounts for nearly 50% of CVS's total revenue.
health insurance
It was integrated from Aetna's Aetna-related business, which CVS acquired in 2018, and currently accounts for approximately 25% of CVS's total revenue.
Pharmaceutical retail
CVS 2023年报收入表（按sector）
In addition to these core businesses, CVS has also responded to the changes in consumer behavior after the epidemic, and launched vaccine services, home medical services and other services. CVS also has its own venture capital fund, CVS Health Ventures, which invests in early-stage HealthCare companies.
CVS has succeeded in building an all-encompassing healthcare business empire in every sense of the word.
►Job Description:
As a technology-focused insurance company, Aetna retained its own technology genes and DS team after being acquired by CVS, an old-school company, and even reverse-integrated CVS's data business.
At present, CVS's DS team is called Analytics & Behavior Change, which is a centralized team of up to 3,000 people, with multiple teams, some of which are directly connected to the front office business such as Aetna/Insurance, PBM, and Retail, while some are in the middle and back office, focusing on data platform construction, operation, automation, etc. Larger teams include:
1. Healthcare and Cost Management: Mainly docking with insurance business, focusing on company operations, including pricing, underwriting, automatic processing of insurance policies, etc. 2. Marketing Strategies: Mainly docking with insurance business, focusing on the company's revenue generation, reaching new customers and retaining old customers through various campaigns. It involves a series of contents such as segmentation, LTV, survival, A/B testing, experimental design, etc. 3. Clinical Analytics: Integrate PBM and insurance business at the same time, analyze health records, and evaluate and optimize PBM and insurance plans. 4.Retail: Pharm store related analysis. 5. Data Platform: Responsible for the company's infrastructure data platformOf course, with the change of the company's business, the above team structure will be constantly adjusted, and there will be some overlap or overlap. However, in general, the work content will still cover the above content.
►Promotion Path:
There are four different paths to data desks within CVS:
DS/MLE路径（侧重建模）
Decision Scientist路径（类似DA，侧重business intelligence/insights，工作集中于descriptive而非建模）
Data Engineer path (focusing on database management optimization on the cloud)
Product (similar to PM, focusing on data product development and internal promotion) path
Regardless of the path, as an Individual Contributor, you will go through the path of Entry Level→ Senior→Lead→Principal→ Senior Principal→VP. In the junior stage, promotion is relatively fast, and you can generally be promoted to one level in two years; It can take three years or more to move up to the next level from the lead, and the speed of promotion depends on the position in the group. If the senior team members in the group do not leave, it will be difficult for the DS at the bottom level to continue to be promoted.
In addition to the IC route, there is also the Manager route, which starts from the Senior-Lead stage, but it is conceivable that the promotion of this route is more casual.
►Salary:
The Entry Level package includes 120-130k base + 10% bonus, and the main difference compared to tech companies is that there are no RSU shares.
► Tips for candidates:
1) What kind of resume is required? Education: For a long time, there was no obvious target school in CVS. However, with the downturn in the job market in recent years, there are also many candidates with very strong backgrounds such as Harvard and MIT, as well as social recruiters with experience in big name consulting in the past.
Experience: If the candidate has a very solid foundation in at least one of the three aspects of machine learning, AI, and statistics/DS, and can show strong coding skills, then this resume can be said to be more outstanding. As for medical industry experience, it is certainly a plus for the entry level, but it is not mandatory.
2) Job Opportunities and Interview ProcessThe summer internship is an important opportunity for new grad to enter CVS. Applications for internship positions are generally open around August, and interviews will continue until around November (but they will fluctuate back and forth every year), and 20-30 students will be recruited each year according to the capacity needs of each DS group, and they will be randomly assigned to each group. If you want to get into CVS, you need to pay special attention to this opportunity!
Except for these lucky students, most of the new graduates are sporadically released entry level positions through social recruitment, and each group arranges their own interviews, but the process has been relatively standardized.
There are 4 steps in recruitment:
Resume Screen
Hiring Manager
Coding（与Hiring Manager面可能互换顺序）
Panel
►Corporate Culture:
CVS feels like a U.S. state-owned enterprise, with a huge organization, many opportunities, and a large platform, but also a complex faction. But on the other hand, it also has a youthful side - CVS is very focused on diversity, and it also makes technological transformation one of its priorities: 1) Diversity, Inclusion, and OpennessCVS is very diverse. From the perspective of sponsorship, it is more than happy to provide sponsorship to employees; From the perspective of leadership level composition, AVP, VP, and Director levels can also see many women and Asians (including Chinese).
2) Focus on technologyAlthough CVS sounds like a traditional and established company, the acquisition of Aetna has also injected innovation into it. Now CVS's ambition is to become a "tech company" (arguably the Capital One of the pharmaceutical world - in fact, CVS's chief data officer was recruited from Capital One), and in recent years has invested heavily in AI, DS, IT, etc. Of course, this transformation process will be very long, but there are still many opportunities in data at the corporate level.
3) 9-to-5 work scheduleNowadays, there are not many companies with 9-to-5 work hours, and CVS rarely has high-intensity overtime, and WLB is relatively good.