Pharmaceutical Sales Jobs Are Some Of The Most Sought-After Positions In Sales
In the US alone, pharmaceutical companies sell more than $200 billion in drugs annually and employ more than a quarter of a million people. The aging population, which needs increased medical attention, is the primary driver. In addition, healthcare is shifting away from acute hospital treatment in favor of medicines. As a result, the ever-challenging, ever changing healthcare market promises to provide the dedicated sales representatives professional, business, and personal satisfaction over the course of a life-long career.
One thing that makes pharmaceutical sales job so appealing is that almost any work experience or background is applicable, as long as you have a 4-year college degree. Common degrees include Marketing, Business, Management, Communications, and the Sciences. Companies ask for a degree to filter out candidates. A degree also tells the company that you have the desire to complete something all the way through. Apart from a degree, the only other thing you need to grab a rewarding job in pharmaceutical industry is the desire and the willingness to uncover the employment opportunities.
Pharmaceutical sales representatives enjoy a rich menu of benefits. The competitive benefit packages of pharmaceutical sales jobs generally include high base salaries starting from $60K to $80K, five weeks paid vacation, uncapped bonuses, company car, stock options, a company expense account, exotic destinations for meetings, and a lot more. With a salary, commission and bonus, a successful representative may take home a substantial income. The exact figure depends on many factors, but an experienced representative can expect to earn somewhere in the low six figures.
The pharmaceutical companies invest heavily on sales teams. On-the-job training gives sales representatives the guidelines on how to get the job done. A representative has a good chance of getting success in his job if he/she is outgoing and is not afraid to teach physicians about a product. Sales representatives enjoy the freedom of choosing their own work hours. They learn something new every day. Meetings, training sessions and opportunities to entertain clients keep away monotony. Representatives have to visit physicians within a given geographic area and specialty, and this gives them a chance to build long-term relationships with the clients.
Although the pharma sales job is lucrative and highly rewarding, individual representatives may face significant challenges. While representatives decide their own schedules, long hours are typical. Traveling to meet clients can eat up hours. Representatives have to invest time in learning about their products, researching clients, and reading industry journals to keep up with the fast pace of the industry. They also have to compete with other sales representatives for face time with physicians.
Successful pharmaceutical sales representatives are almost religious about their work. If hard work, competition and challenges give you a rush, it could be worthwhile to explore this field in greater depth.
Related Tags: pharmaceutical, pharmaceutical sales, oharmaceutical sales jobs
Rob Halvorsen is the President & CEO of SalesCareersOnline.com, a career web site dedicated exclusively to the sales and marketing industry. Rob offers over 20 years of executive level sales and sales management experience.
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