Pharmaceutical Sales Jobs Salary
One of the most common reasons individuals seek jobs in pharmaceutical sales is for the salary. These professionals can earn a very good living thanks to the commissions and bonuses in addition to the salary.
One of the Highest Paying Careers in the US
According to Payscale.com, pharmaceutical sales representatives are among the highest paid professionals in the United States. Many companies pay their sales representatives a commission on the products they sell, but most professionals also receive a base salary per week or every two weeks. These representatives not only receive commission and a base salary, but they will often be offered bonuses and profit sharing opportunities.
Entry Level Salary
While a pharmaceutical sales rep’s salary will often depend upon the company he or she works for, the location in which they work and more, the entry level salary is estimated to be about $73,000 per year. This is higher than most jobs available in the United States, even for individuals who have received a bachelor’s degree and additional training. This number will rise with the experience a sales representative gains as he or she works in the field.
Experienced Sales Representative Salary
A pharmaceutical sales representative with experience (usually more than 2 years in the field) can earn up to $105,000 according to CNN Money. As individuals earn their experience, their value for the particular company they’re working for grows. Experienced pharmaceutical sales professionals know their products in and out, have developed relationships with medical professionals in specific areas and have learned which sales techniques work best for them. This is a higher-than-average salary for a professional who has been on the job for more than a year or two.
Top Pay for Pharmaceutical Sales Professionals
Individuals who have graduated to sales professional trainer or supervisor can earn as much as $138,000 a year. This is typically for individuals who have been in the industry for more than 10 years, and who have moved up in the company they’ve been working for. These professionals typically no longer go out and actually sell to the medical professionals, but are still a valuable part of the company. They may train new sales people or may supervise a team of sales people in any given department.
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The salaries mentioned for pharmaceutical sales professionals do not include benefits, which are typically of the best quality. In addition to excellent medical, dental and vision healthcare, many companies provide coverage for sicknesses that cause the professional to miss work. Many insurance and healthcare plans offer other incentives for sales representatives as well.
Overall, the salaries of pharmaceutical sales professionals are some of the highest in the United States. This could be the reason that there is so much competition in this industry. Individuals with the most education and experience in pharmaceuticals, science, biology and business-to-business selling will receive the most lucrative offers and the best possible benefits for the position.