A Comprehensive Guide to the Career of a Pharmaceutical Sales Representative

A pharmaceutical sales representative educates and distributes their company's products to physicians, doctors, dentists, nurses, and medical technicians. This role is a type of sales job that markets and sells pharmaceutical drugs and devices to individuals and companies. They also develop and establish relationships with new customers on the health field to sell their legal drugs. If you are deciding to switch careers, than working within the field of pharmaceutical sales may be just what the doctor ordered.

Daily Responsibilities and Industry Roles

Pharmaceutical sales representatives frequently present power point presentations and using other apps, give doctors a thorough working overview, of how their companies products assist those doctors in helping their patients. Besides riding around to visit ten to twelve doctors a day and sitting in their offices donning a fancy suit with an oversized carry bag, the day in a life of a pharmaceutical sales representative encompasses a little more than just that. Us reps move some of the market share by increasing TRX-total number of prescriptions and NRX's-To generate new prescriptions by the physician. We achieve this goal by educating the physician audiences, whom we visit, about these products.

Being a pharmaceutical sales representative is not your typical nine to five job. You will also be busy enough with pre and post call analyses, which is usually required if you want to be a successful representative. You want to know ahead of time, who you are going to plan to visit for that given day.

Compensation and Commission Structures

Pharmaceutical sales representatives get paid through a combination of base salary, commission, and bonuses; about half of this amount is commission. Many pharmaceutical sales representatives have an even split between base salary and their commission and bonuses. A pharmaceutical sales rep’s commission is based on the number of prescriptions that physicians write out to their patients. The doctors are not actually purchasing products directly from reps.

The following table provides a breakdown of compensation averages across various pharmaceutical companies:

Factors Influencing Income

The factors that determine the earning potential of a pharmaceutical sales representative are experience and professional level. More experienced pharmaceutical sales representatives are able to strategically apply their knowledge to maximize their commission earnings and bonuses. People who have worked in the industry for ten years or more make an average annual base salary of $126,000, with total compensation of $184,000. Another factor that can impact income is the amount of travel; those who travel the most also earn the most.

Benefits and Perks

The average salary report does not include additional perks such as company car, gas card, car insurance, and cell phone, which can add up to $30,000 a year. Generous Perks of a Pharmaceutical Sales Rep Position include:

• Full health and dental benefits
• Company car, free car insurance, and gas card
• 401K / 403B and retirement plans
• Life and disability insurance
• Profit sharing
• Company expense meals and travel with clients
• Paid Time Off (Vacation)

Geographic Salary Variations

The average salary for a pharmaceutical sales rep also varies according to the location that he or she works in. Obviously with higher living expenses in certain cities, the salary is expected to be higher than the national average.

• San Francisco, CA: The average salary is $95,427, with a range of $86,335 to $123,336.
• New York, NY: The average salary is $96,741, with a range of $79,669 to $113,813.
• Houston, TX: The average salary is $48,278, with a range of $39,759 to $56,798.

The job outlook for pharmaceutical sales reps is on the rise with the advent of new medications, treatments, and advances in health care. Many require a 4 year degree in addition to at least 2 years of experience in the related sales field to break into the pharmaceutical sales industry.