The 4th Annual MedReps.com Salary Survey collected salary data from nearly 3,000 members of the medical sales community. Respondents not only shared information on their average base salaries and commissions, but also what type of products they represent, their level of experience, what type of company they work for, and more. Professionals in biotech sales jobs and biopharma sales jobs together made up 6% of respondents.
The average total annual income reported in the MedReps Salary Survey for a biotech sales representative is $154,348 (Median $155,000) with an average base salary of $105,703. That makes biotech sales salaries the third highest medical sales salaries in this year’s Medical Sales Salary Report. It’s no surprise that the highest biopharma and biotech sales salaries are earned by professionals working in sales management. Sales Managers, Sales Directors, and Sales VPs earn an average income of $199,375. Field Reps, as well as those working on National Accounts and Business Development, earn an average total income of $151,685. “Field Sales” is by far the most common job title, with 79% of survey respondents placing themselves in this category.
The majority (86%) of biotech respondents are employed by manufacturers, and this group reports an average sales salary of $158,257. There were not enough respondents working for distributors or service providers to fairly assess the average salary paid by these other types of employers.
The average biotech sales respondent spends 22% of their time travelling overnight, but the numbers suggest they could earn more if they traveled more. Respondents who spend 50% of their time on the road earn the highest biotech sales salaries – bringing home an average total income of $185,227.
In most cases, medical sales professionals with the most experience earn more than those who have less. This was largely true for biotech sales representatives, with the odd exception of those with 2-5 years of experience earning slightly more than those with 6-10 years of experience. Age seems to have less of an impact than experience, with the exception of a significant drop in income for the over 60 group. The highest average biotech sales salaries were reported by those in the 41-50 and 51-60 age groups – both earning just over $157,600.
Refreshingly, the difference between male and female income is far less apparent in biotech sales jobs than any other segment we examined. Women still earn less than men but only by 5%. A sharp discrepancy still exists in the types of positions men and women hold in this segment however. There were no female respondents with sales management or sales director/VP titles, while there were 14 men.
The 2014 average biotech sales salary is down slightly from last year’s average income, though the median figures remain the same at $155,000. The average may have been skewed by a few high earners last year, so the drop should not be a concern to professionals working in this field. Biotech sales jobs continue to be a lucrative field for medical sales professionals.
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