Salary. Specialty pharma reps earn higher salaries at $138,150 on average. Pharmaceutical sales representatives employed by small manufacturers make less at $119,933, but the highest paid work for large, multi-national manufacturers with an average compensation of $133,407 per year.
How much do pharmaceutical sales reps make a month?
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 pharmasales reps from MedReps' 2018 survey.
Is pharmaceutical sales a good job?
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.
Does pharmaceutical sales pay well?
Sales reps in pharmaceuticals take home a significantly high paycheck at $128,482, with a base salary of $95,550 and a bonus of $35,015.
Are pharmaceutical sales representative in demand?
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.
How much do top pharmaceutical sales reps make?
Specialty pharma reps earn higher salaries at $138,150 on average. Pharmaceutical sales representatives employed by small manufacturers make less at $119,933, but the highest paid work for large, multi-national manufacturers with an average compensation of $133,407 per year.
How much does a pharmaceutical sales rep make on average?
The average salary for a pharmaceutical sales representative is $65,453 per year in the United States and $20,000 commission per year.
Do pharmaceutical sales reps make commission?
With most pharmaceutical companies you get a salary and you also get paid commission on your drugs that you sell. So, if you sell 160 percent of one product, you get paid on 60 percent over that quota. The more you sell the more you make, so the harder you work, the more money you make.
How much do Pfizer drug reps make?
The average Pfizer Sales Rep earns $85,000 annually, which includes a base salary of $80,000 with a $5,000 bonus. This total compensation is $25,405 less than the US average for a Sales Rep.
What does a pharmaceutical sales rep sell?
Pharma reps are persistent, assertive selling gurus who travel to healthcare facilities to promote new drugs tested by their company. It's the PSR's job to present product samples to physicians, surgeons, medical specialists, or other clinicians and persuade them to prescribe the drug to their patients.
Does Pfizer pay well?
The average estimated annual salary, including base and bonus, at Pfizer is $120,268, or $57 per hour, while the estimated median salary is $116,489, or $56 per hour.
Do pharmaceutical reps work from home?
However, while pharmaceutical sales representatives may have an office at the home office, they actually spend most of their time on the road.
Is pharmaceutical sales still a good career?
According to Quint Careers, pharmaceuticals sales is considered one of the fastest-growing career opportunities, with a 300% growth rate in the last decade. In addition to fantastic job growth, these positions nationally average a salary of $64,000 (Glassdoor).
What type of medical sales makes the most money?
At first glance, it appears the top earners are Sales Directors and VPs working in biotech. After all, according to the 2016 Medical Sales Salary Report, Sales Director / VP is the highest paid job title (average total $209,082), and biotech is the highest paying product category (average total $165,028).Sep 9, 2016
Is pharmaceutical sales a dying career?
There is a major shift now towards an outcomes and value-based focus. The pharmaceutical sales profession is not 'dead' as many had predicted, however, the context in which sales reps are functioning is almost unrecognizable compared with a decade ago.