“How much money does a biotech sales rep make?”
Every year, MedReps conducts a survey to answer this question and more:
“What size biotech company pays the highest salary?”
“How much commission do biotech sales jobs pay?”
“How does travel impact biotech sales salaries?”
“How does location, age, and gender impact biotech sales earnings?”
The excitement surrounding biotech isn’t just about new technological advancements. This year’s 2019 Medical Sales Salary Survey revealed biotech sales had one of the largest increases in salary over previous years.
2019 biotech sales salary key findings:
- – Medium-sized companies offer the highest average total compensation
- – Biotech sales reps traveling at least 50% of the time see a drastic increase in pay
- – Those in their 20-30s take home the second-highest average bonuses and commission
- – Biotech sales reps see an exciting rise in pay after just two years of experience
- – The gender gap is smaller in biotech sales than any other field
Salaries across biotech sales increased in both average base salary and average commissions. The increase pushed the average total compensation $13,000 over last year’s earnings.
A remarkable 84 percent of the 173 employed biotech sales respondents reported being satisfied with their earnings. Our survey revealed this could tie directly to job satisfaction. In fact, another 84 percent of respondents said they’re satisfied in their current roles.
There is no doubt, biotech sales reps are dedicated to their roles. Respondents in our survey have an average of 14 years of experience and spend over 20 percent of their time traveling overnight.
Surprisingly, less than 90 percent of reps in this field reported having a four-year college degree or higher. But with their increase in total compensation, it’s clear nothing is holding them back.
Check out the full findings below to learn more about how you can reap the financial rewards of a biotech sales career:
View Previous Biotech Sales Salary Reports:
- 2018 Biotech Sales Salary Report
- 2017 Biotech Sales Salary Report
- 2016 Biotech Sales Salary Report
- 2015 Biotech Sales Salary Report
- 2014 Biotech Sales Salary Report
- 2013 Biotech Sales Salary Report
- 2012 Biotech Sales Salary Report
- 2011 Biotech Sales Salary Report