Drug Representative Careers
- New drugs are first marketed by sales reps to physicians and health care management.drugs image by alimat from Fotolia.com
Drug representatives or pharmaceutical sales representatives have some of the most highly sought-after jobs in any industry. Although rapid growth is not expected in the field, the Bureau of Labor Statistics does expect a job growth rate of about 6 percent from 2008 to 2018. Pharmaceutical sales representatives can generally expect to make generous base salaries and commissions or bonuses based on performance. - Pharmaceutical sales representatives spend the vast majority of their time on the road, visiting medical facilities within their assigned sales territories. These drug representatives do not typically attempt to sell the product directly to the physician or health care facility manager. Rather, they provide physicians samples of new and established products so that they can see the effectiveness of the products in their own patients. The intention is to establish a tendency of the physician to prescribe the product to future patients once they have seen its effectiveness. Pharmaceutical sales representatives' effectiveness can be measured by the overall sales or changes in sales of a particular product within their territory. Most people are more likely to use a pharmacy near their home or their physician's office, so chances are the physician will be writing prescriptions for patients within the representative's territory. Sales reps generally spend a great deal of time courting the office staff as well, because they may be the ones who decide whether the representative will get to see the physician.
- To work as a pharmaceutical sales or drug representative, you need a bachelor's degree in just about any field. Degrees in sales and marketing are helpful, but so are degrees in biological science, premedical studies and even psychology. The key is to generally have a strong background in science so that you can converse intelligently with physicians regarding your products. Whatever degree path you follow should emphasize interpersonal communication skills.
- Compensation in pharmaceutical sales is one reason that many people get into the field. Payscale notes that the average annual total compensation for pharmaceutical sales representatives ranged from $75,101 to $105,483 in October 2010. This includes profit sharing, bonuses and commissions. The average representative can expect to make a base salary of $58,639 to $82,178. These positions usually involve a comprehensive benefits package, including a retirement plan and health insurance benefits. Some companies even provide a company car to their sales representatives. Among the list of top employers, Payscale listed Pfizer Inc. as the highest-paying of the pharmaceutical companies at $67,543 to $101,859 per year, as of October 2010.
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