“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?”
But this year, no one could have predicted that one of the questions would be, “How is the global crisis impacting the future of biotech sales?”
2020 Biotech Sales Salary Key Findings:
- Biotech had the biggest increase in year-over-year earnings out of all other categories
- Those with less than two years of experience in biotech earn more than those in other categories with similar experience
- Those selling to hospitals and the OR report higher average total compensation than reps selling to physicians
- Base salary, commissions, and total average compensation increased for both male and female reps
Biotech sales reps have witnessed a steady increase in total average compensation over the last five years. These reps celebrated another record-breaking year-over-year increase at the end of 2019.
Unfortunately, no one could have predicted what the start of 2020 would hold. According to our survey, 82% of biotech sales reps say they expect the COVID-19 crisis to have a negative impact on their earnings. But even with a fear of the future, half of biotech respondents expect to make more in 2020 than they did in 2019.
We can see why many are remaining positive. These reps saw an increase in average base salaries from $121,947 in our 2019 findings to $134,388, which has driven their average total compensation up $21,039.
Biotech sales representatives know the potential this field has to offer them, and that’s why they’re charging into the future despite the many unknowns ahead.
Check out our full findings below to learn more about how you can develop a successful biotech sales career in the future:
View Previous Biotech Sales Salary Reports:
- 2019 Biotech Sales Salary Report
- 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