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.
About the Survey
More than 3,000 medical sales professionals participated in the 5th 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.
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.
Average Biotech Sales Representative Salary by Job Title and Company Size
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 by Age & Experience
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.
Biotech Sales Representative Income by Travel
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.
Biotech Sales Representative Income by Gender
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.
Year-Over-Year Biotech Sales Salary
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.