There is plenty to love about medical sales jobs – in fact, they can be quite rewarding. Most sales professionals truly enjoy what they do and stay in the profession for a number of years.
Of course, the pay is good in medical sales, and it’s particularly good for biotech sales jobs, but there are other perks that keep these professionals happy. So, let’s talk about them.
Starting with pay, according to the Report on Medical Sales Salaries, biotech sales salaries rank third-highest compared to other products under the medical sales umbrella. The average biotech sales salary is $157, 865 compared to that of general medical device sales salaries, which is $155, 000. Simply put, biotech sales professionals are some of top earners in medical sales, whether you look at base income or commissions.
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The majority (88%) of biotech respondents were employed by manufacturers. Contrary to what you might think, biotech salespeople that earn the highest pay aren’t necessarily employed by the largest manufacturers. Those that work for “medium-sized” companies/manufacturers actually have higher salaries than those that work for small or even large companies. That data further suggests that the size of the manufacturer does not necessarily have a significant impact on earnings and that there is actually unlimited earning potential regardless of company size.
Current trends in the industry show that although biotech sales incomes are up 2.3% over last year’s total, commissions are slightly down. While the average total has not yet climbed back to where it was in 2013, the average total appears to be growing at a typical year over year rate, which is great news if you’re already in biotech sales or looking to break into the field.
Besides, the money, what’s so great about being a biotech sales professional? Similar to other jobs in the medical sales field, perks including flexible schedules, national and international travel, and the use of a company car are all attractive benefits of the position. And, that’s just the tip of the iceberg.
Pharmaceutical Sales Salary Report
According to the aforementioned salary report, biotech sales jobs command impressive incomes as well as provide plenty of enticing perks. 74% of respondents said that they have unlimited use of a company car with a gas and mileage allowance, while 30% mentioned that they are afforded car allowances for their personal vehicle. A large majority (79%) have expense accounts, while 64% were offered stock options. In addition, 92% (yes, 92%!) have 401ks. There are plenty of other perks that entice salespeople into the field of biotech sales. These are simply the most common. Sounds like a pretty good deal, right?
The rewards are definitely great, so these particular jobs are sure to remain competitive. As a result, it makes a lot of sense to be (and remain) at the top of your game. The promise of high salaries often lures job-seekers in, but the various perks and benefits generally keeps them satisfied for years on end.It pays to work in biotech sales jobs! According to the 2015 Medical Sales Salary Report, the average biotech sales salary is $157, 865 (Med. $155, 000), with an average base of $109, 995 (Med. $115, 000). Total biotech sales salaries rank the third highest in our survey, but average base salary is actually the highest. Biotech sales professionals are some of top earners in medical sales.
Annual Medical Sales Survey, and a total of 7% of qualified respondents are currently working in biotech or biopharma. These biotech sales professionals provided detailed information not only about their earnings, but also what category of product they sell, their job title, the type and size of their employer, how much experience they have how much they travel, and more. Even things that shouldn’t impact medical sales salaries such as age and gender were factored in.
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As it turns out product is one of the biggest influencers of income, and those selling biotech and biopharma products reported higher salaries than almost every other product, excluding surgical sales salaries and healthcare software salaries.
Biotech sales directors and VPs earn an average income of $222, 857, a figure significantly higher than any other job title. The average biotech sales rep salary came in at $152, 824, and this figure accounts for the 83% of biotech respondents who work in field sales.
Consistent with the overall report, the majority (88%) of biotech respondents are employed by manufacturers. The data suggests that the size of the manufacturer does not have a significant impact on earnings.
Biotech Sales Salary Report
With a few exceptions, biotech sales job salaries increase with both age and experience. The highest average income ($185, 200) was reported by those with 20+ years of experience. More than half of respondents have 11-20 years of experience, which reported an average total of $161, 342. The highest earning age group is the 51-60 year olds, who report an average total of $180, 313. The majority of respondents however were in the 31-40 (32%) and 41-50 (42%) age groups.
The more travel biotech sales jobs require, the more they are likely to pay. Professionals who spend more than half of their time travelling for work earn significantly higher biotech sales salaries than those who travel less or not at all. Those who do not travel at all earn an average income of $138, 750 while those travelling 75% of the time earn $184, 250.
Medical sales is a male dominated space, and biotech sales jobs are no exception. Men represent 64% of biotech respondents, and they earn an average total income that is 12% higher than the average total reported by women in the field. Base biotech sales salaries are equally disproportionate. The gender pay gap can largely be explained by the fact that women are far less likely to hold job titles with higher pay. For every woman in a sales director or sales management role, there are 14 men.
Med Repair Tech
The average total biotech sales income is up 2.3% over last year’s total. However, commissions are slightly down. While the average total has not yet climbed back to where it was in 2013, the average total appears to be growing at a typical year over year rate.
Biotech sales jobs command impressive incomes and come with plenty of perks – including company cars (74%), car allowances (30%), expense accounts (79%), stock options (64%), matching 401ks (92%) and more. The rewards are great, so these jobs are sure to remain competitive.
As it turns out product is one of the biggest influencers of income, and those selling biotech and biopharma products reported higher salaries than almost every other product, excluding surgical sales salaries and healthcare software salaries.
Biotech sales directors and VPs earn an average income of $222, 857, a figure significantly higher than any other job title. The average biotech sales rep salary came in at $152, 824, and this figure accounts for the 83% of biotech respondents who work in field sales.
Consistent with the overall report, the majority (88%) of biotech respondents are employed by manufacturers. The data suggests that the size of the manufacturer does not have a significant impact on earnings.
Biotech Sales Salary Report
With a few exceptions, biotech sales job salaries increase with both age and experience. The highest average income ($185, 200) was reported by those with 20+ years of experience. More than half of respondents have 11-20 years of experience, which reported an average total of $161, 342. The highest earning age group is the 51-60 year olds, who report an average total of $180, 313. The majority of respondents however were in the 31-40 (32%) and 41-50 (42%) age groups.
The more travel biotech sales jobs require, the more they are likely to pay. Professionals who spend more than half of their time travelling for work earn significantly higher biotech sales salaries than those who travel less or not at all. Those who do not travel at all earn an average income of $138, 750 while those travelling 75% of the time earn $184, 250.
Medical sales is a male dominated space, and biotech sales jobs are no exception. Men represent 64% of biotech respondents, and they earn an average total income that is 12% higher than the average total reported by women in the field. Base biotech sales salaries are equally disproportionate. The gender pay gap can largely be explained by the fact that women are far less likely to hold job titles with higher pay. For every woman in a sales director or sales management role, there are 14 men.
Med Repair Tech
The average total biotech sales income is up 2.3% over last year’s total. However, commissions are slightly down. While the average total has not yet climbed back to where it was in 2013, the average total appears to be growing at a typical year over year rate.
Biotech sales jobs command impressive incomes and come with plenty of perks – including company cars (74%), car allowances (30%), expense accounts (79%), stock options (64%), matching 401ks (92%) and more. The rewards are great, so these jobs are sure to remain competitive.
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