In 2019, the average rep salary was $151,217, which includes an average base salary of $109,250 and an average bonus of $41,967. That’s a 6% increase, or almost $8,000, over the average salary for pharma sales reps from MedReps’ 2018 survey.
Is pharmaceutical sales rep a good career?
Pharmaceutical sales representatives often become the trusted go-to point for customers seeking information and assistance in helping their patients. Pharmaceutical sales is a great career choice for anyone who values the relationships they build at work. You can make a difference in the world.
Is it hard to become a pharmaceutical sales rep?
It’s also intense, highly competitive and sometimes frustrating. Insiders say it’s difficult to get your foot in the door with a drug company, and that it’s challenging to excel once you’ve landed that first sales job. Before you can start selling for your company, you have to sell yourself to potential employers.
Do pharmaceutical reps travel a lot?
During the work week, you travel a lot. Some territories are bigger than others, but mine’s about two hours long, so some days I’m two hours away from home in a small town calling on a small clinic or there’s other days when I’m in a bigger city and I call on the doctors there.
Why is pharmaceutical sales a good career?
The pharmaceutical-sales field, which is often called “recession-proof,” is popular because it offers excellent salary potential, great benefits, flexibility, opportunity for growth, and frequently, the use of a company car.
How do I break into pharmaceutical sales?
Here are the steps you can follow to begin a successful career as a pharmaceutical sales rep:
- Earn your high school diploma or GED.
- Get a bachelor’s degree.
- Consider earning a graduate degree.
- Get certified.
- Network.
- Work on your skillset.
- Prepare your resume and cover letter.
Are pharmaceutical reps in demand?
This creates a favorable job outlook for pharmaceutical sales representatives who are selling these products. CNN Money predicted that 10-year job growth for PSRs will be 16.4 percent, which is considerably above-average. Around 400,000 more pharmaceutical sales jobs will be created through 2022.
What is the average age of a pharmaceutical sales rep?
46 years old
The average age of an employed pharmaceutical sales representative is 46 years old. The most common ethnicity of pharmaceutical sales representatives is White (76.5%), followed by Hispanic or Latino (13.3%) and Asian (4.6%).
How much money does a pharmaceutical sales rep make?
Some may ask you to take additional exams and earn the title of Certified National Pharmaceutical Representative. As for the typical pharmaceutical sales rep’s salary, employees in this industry earned a median of $78,830 annually in 2017.
How much do medical equipment sales reps make?
How Much do Medical Equipment Sales Reps Make? The year 2018 witnessed an impressive jump of $2,000 in the average commission that increased the average medical sales rep’s salary to $149,544. The increase in annual payout came despite the slight drop in the base salary from 2018.
Why are sales representatives important in the pharmaceutical industry?
Pharmaceutical sales representatives are the middlemen between drug manufacturers and medical professionals, and help ensure the awareness, distribution and use of potentially life-saving medicines.
How often do pharmaceutical sales reps go on the road?
Depending on the size of your region, you could be spending a lot of time on the road – some reps are away from home for several days or weeks at a time. Senior reps may also be tasked with presenting at industry conferences and holding instructional workshops to generate sales.
