After healthcare, pharmaceutical sales is the biggest medical sales industry in the world.
Global pharmaceutical sales have grown year on year and there doesn’t seem to be much let-up forecasted. So the opportunities in this sector seem to be promising and abundant, especially if you have a background in sales.
But before you jump in and start applying for jobs, you should understand the ins and outs of the industry.
Pharmaceutical sales can be complex, so it’s important to be well-versed in what the day-to-day of the job looks like. So I’ve put together a detailed playbook that will show you exactly how to get into pharmaceutical sales with what’s involved, what kind of experience you will need, and how you can land that highly-coveted pharma job.
A pharmaceutical sales representative works on behalf of pharmaceutical companies to promote and sell their products to healthcare practitioners. These products can range from prescription drugs to medical device sales.
Serving as a critical link between pharma companies and healthcare professionals, you are required as a pharma rep to keep on top of the latest scientific developments and educate yourself on the products you are selling.
Not understanding the products you are selling can lead to a host of problems for you, your customers, and most importantly, the patients who are consuming these products.
The salary a pharmaceutical sales rep makes can vary greatly. Different factors such as job location, experience, your previous employers, and the types of products you are selling can change your pay scale radically.
The latest reports show that the average annual pharmaceutical sales rep salary is around $77,000.
It’s important to keep in mind though that this figure can rise significantly after commissions, the company you are working for, your job location, and much more. It can also differ whether you are an experienced rep or applying for entry level pharmaceutical sales jobs.
You can receive a high salary working in states such as California, Massachusetts, and New York. The salaries in these states for reps starting off can be anywhere from $70,000 to $100,000. Whereas in rural states such as Alaska, Mississippi, and Montana, base salaries can range from $30,000 to $45,000.
Check out this case study to learn how a sales team working at Danaher was able to close 90% of their meetings by using the Badger Maps route planning app!
Let’s take a look at some of the requirements for a pharmaceutical sales job that was posted on a jobs website recently -
This job listing is for one of the leading companies in the industry so bear in mind that you may not need this level of experience for every job. They are good to keep in mind if you are thinking about transitioning to a career in pharmaceutical sales. Working in pharmaceutical sales means you will be constantly traveling to different customer locations. To efficiently manage your daily planning, using a route planner like Badger Maps
Offering capabilities such as route optimization, lead generation, map visualization, and automated data gathering from the field, It helps sales teams save time on their daily planning, maintain better relationships with customers, and be more productive.
Sales teams have reported that they sell 22% more and drive 20% less when using Badger Maps, in fact, the average team of 10 reps sells $936k more the year they start using the app.
"After getting Badger Maps, weekly meetings per rep jumped from 12 to 20. This led to a 22% increase in annual revenue."
Brad Moxley
Business Development Manager, Cutter & Buck
Badger Maps is one of the best tools for pharmaceutical sales reps as it can help you with every single aspect of your job, from prospecting to closing.
On average, sales teams using Badger Maps save 8 hours a week, drive 20% less, and sell 22% more.
Discover the value of Badger Maps by trying it out yourself. Start a free trial or schedule a demo now!
The pharmaceutical sales industry is highly competitive, highly regulated, and highly demanding, so it’s crucial you know exactly what you are getting into before you start looking for your first pharma job.
Familiarize yourself with the key players in the industry, including major pharmaceutical companies such as Merck and Johnson & Johnson, emerging biotech firms like Beam Therapeutics and Tempus, and generic drug manufacturers such as Teva and Novartis.
Understand the function of these companies so you can find a good fit for you and your sales career. Chances are you won’t land a job at a big company starting out, but if you do your research early you can start planning the sales career path you wish to take.
Make sure you stay up to date about the latest industry trends also, such as new drug approvals and shifts in healthcare policies that might affect drug sales. Having a complete understanding of the industry you are getting into can give you an edge in interviews.
Developing relationships with healthcare practitioners and industry experts is an essential aspect of the role of a medical sales representative.
This can be done by attending conferences, medical trade shows, and seminars.
Meeting with others working in the industry can be an eye-opener and offer opportunities for continuous learning and collaborations with those who share your interests. The more extensive your network is, the more likely you are to land that dream pharmaceutical sales job.
In an increasingly virtual world, you can just as easily network with other healthcare professionals online as you would in person. LinkedIn can be a great way to meet people working in the industry. You can follow and connect with others working in the space, maybe even tapping into their knowledge by setting up a call with them if you develop a relationship virtually. The use of virtual groups on sites such as LinkedIn and Facebook seems to be on the wane, mainly due to spam, so it’s wise not to waste your time here.
Remember that once you have made a connection, be it in-person or virtually, you will want to follow up pretty soon after your initial meeting. That extra call can often make the difference between winning and losing a deal.
Steve Benson, the CEO of Badger Maps, thinks that “The key to great business networking is to be able to let people know what your value proposition is and who it is helpful for. If you communicate this in a sentence or two, then the person that you are speaking with will automatically have a lightbulb go off if they are or know someone who is the intended audience of your value proposition.
For example, if I'm introducing myself, I might say, "Hi, I'm Steve Benson, and I am the CEO of Badger Maps, we make an app that helps field salespeople." I've quickly said in one paragraph: 1. Who I am 2. What I do 3. Who I perform a service for. If someone is a field service person or knows field service people they will likely ask me how I help field service people. If they are a sheep farmer, they probably won't ask and we'll just start chatting about how awesome the cheese is.
Other than that bit of preparation, just relax, act like a human, and have fun!”
To be any way decent as a sales representative, you’re going to need to learn to not only sell a product or service, you’re going to need to know how to sell yourself.
Come prepared with extensive knowledge of the company you are applying to.
Research the company, what they sell, and how they operate. Fully understanding the products you're selling demonstrates genuine interest, setting you apart from those who simply send out numerous resumes to random companies in hopes of landing an interview.
It’s also important to arrive in your best sales attire. Some companies may expect a more formal dress code, while others could be more lax. With that being said, don’t arrive in sweatpants! Remember to dress as if you were the person you'd buy from. The right sales attire builds trust and puts people at their comfort.
Don’t be afraid to turn the table and ask your interviewer questions. You don’t want to let your interview turn into a one-sided questions and answers session. Let it be an open dialogue where both sides can engage in a discussion.
Remember to keep in mind that your goal is not to land a sales job, your goal is to effectively communicate the value that you will bring to the company. Above all else, stay calm and know that your preparation will serve you in good stead when you finally sit down with a prospective employer.
Check out our guide to preparing your sales resume and next sales interview here!
Breaking into pharmaceutical sales can be challenging, but the rewards on offer can be lucrative. Stay the course and you can position yourself as an excellent candidate.
Good luck!
Next in this series - Check out the diary of a medical sales rep here!
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