According to James Crowley, managing director of life sciences strategy at Accenture Life Sciences, a global consulting firm, well-trained, digitally savvy pharmaceutical sales representatives
will continue to be in demand well into the foreseeable future
.
How hard is it to be a pharmaceutical rep?
It’s a reality for pharmaceutical company representatives. But the work isn’t pure glamour. 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.
What happened to pharmaceutical sales reps?
Physicians decline access to pharma sales reps
Rep-accessible means that they meet more than 70% of sales reps who try to approach them. Unfortunately, the number of physicians like these is dwindling with each year. In 2015, there were 46% rep-accessible HCPs, while the number shrunk to 44% in 2017.
Are there still pharmaceutical reps?
A year after the pandemic forced pharma reps to switch from in-person to digital sales calls,
most visits are still virtual
—and the industry is seeing mixed results. The good news is that in-person pharma sales calls are now in demand by physicians.
Are pharmaceutical reps happy?
A whopping
80 percent say they’re happy with their pay
, and 80 percent say they’re happy with their job, overall. It’s easy to assume job satisfaction is linked to their high earnings. After all, the average total compensation for pharmaceutical sales professionals in 2018 is $133,563, as the survey found.
Can you make a lot of money in pharmaceutical sales?
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.
How do pharmaceutical reps make money?
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.
Is being a pharmaceutical sales rep stressful?
Pharmaceutical reps don’t have it easy, as they usually spend their workday jumping over Olympic-size hurdles to get the job done
. First challenge: trying to get in to see the doctor. Doctors aren’t known for having lots of free time, and they rarely carve out time just to hear from pharma reps.
What is a typical day for a pharmaceutical sales rep?
Day-to-day duties vary based on the company they work for, the territory they are assigned to, and the medications they are representing. However, typical responsibilities include:
Scheduling meetings with medical professionals
. Educating medical professionals about the effectiveness, use, and side effects of drugs.
How much did Purdue Pharma reps make?
The typical Purdue Pharma Sales Representative salary is
$89,218 per year
. Sales Representative salaries at Purdue Pharma can range from $74,209 – $109,181 per year.
What doctors want from sales reps?
Providers are very interested in
clinical information about a drug including indications, dosage regimens, strengths, duration of therapy, mode of administration, and side effect profile
. Also, doctors are interested in any new studies or published articles related to their patient-types.
Why do doctors listen to pharma reps?
Physicians appreciate samples, which can be used to start therapy immediately, test tolerance to a new drug, or reduce the total cost of a prescription
. Even physicians who refuse to see drug reps usually want samples (these docs are denigrated as “sample-grabbers”).
What do physicians want from pharmaceutical reps?
Moving forward, physicians say reps will “need to be
skilled in addressing clinical and scientific questions beyond the product detail, as well as represent multiple products
.”
5
When surveyed, 82 percent of physicians said they have seen pharma companies change how they communicate during the pandemic, specifically …
Is OxyContin still prescribed?
OxyContin, a trade name for the narcotic oxycodone hydrochloride, is a painkiller
available in the United States only by prescription
. OxyContin is legitimately prescribed for relief of moderate to severe pain resulting from injuries, bursitis, neuralgia, arthritis, and cancer.
Why do drug reps bring food?
One of the few push factors to remain at such ungrateful positions used to be a free lunch: representatives from drug companies—known in the industry as “drug reps”—would bring the whole office food
in order to educate the physician for a measly few minutes during lunch
.
Why are pharmaceutical sales reps attractive?
“Drug reps are cheerful, charming.
They provide both appreciation and information
. Unfortunately, the information they provide is innately unreliable.” Physicians respond by writing more prescriptions for the targeted drug, she said.
How do I become a successful pharmaceutical sales rep?
- Good People Skills. You need to have good people skills when going out to market a product. …
- Strong Product Knowledge. …
- Comfortable with Public Speaking. …
- Manage Your Own Time. …
- Industry-Specific Skills. …
- Be Ready to Travel Anytime. …
- Get Your CNPR Training.
What skills do you need for pharmaceutical sales?
- Proven work experience as a Pharmaceutical Rep or in Medical Sales.
- Familiarity with databases, statistics, product lines and latest medical issues.
- Knowledge of MS Office.
- Excellent communication, negotiation and sales skills.
- Highly motivated and target driven with a proven track record in sales.
What is the highest paying medical sales job?
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).
What sales jobs pay the most?
- Pharmaceutical sales representative. …
- Direct sales representative. …
- Business development representative. …
- Sales engineer. …
- Sales professional. …
- Sales manager. …
- Real estate agent. National average salary: $107,989 per year. …
- Vice president of sales. National average salary: $110,945 per year.
What to study to become a medical rep?
Earn a degree
Most medical representatives have a
bachelor’s degree in biology, pharmacy, nursing, life sciences and other related fields
. Even candidates with a Biomedical Engineering degree and Master of Business Administration (MBA) in healthcare can enter this field.
What do pharmaceutical reps wear?
Their clothes should be fresh, neat, clean and pressed. The reps should be well-groomed, paying attention to hair, face and nails. Do the pharmaceutical reps need to dress in
formal business attire such as suit and tie for men and skirted suits or matching pants suits for women
?
What is the meaning of medical representative?
A medical representative’s job is to
promote and sell their company’s products, whether that’s pharmaceutical drugs or medical equipment
. Customers can include doctors, nurses and pharmacists. The medical representative will increase product awareness, answer queries, provide advice and introduce new products.
How long does it take to complete pharmaceutical sales training?
The PRC program takes on average about
4 weeks
(12 hours course time) to complete. It’s self-paced, so everyone will be different.
What does a pharma rep do?
Pharmaceutical sales representatives
secure sales for their company’s pharmaceutical products
. Their job is to persuade medical professionals that the drugs, treatments and devices that they offer are ideal for their patients’ needs and superior to those offered by their competitors.
