2021 Biotech Sales Salary Report

Biotech Sales Salary Report

“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?” 

Last year, we asked biotech sales reps their predictions for how the global crisis would impact the future of medical sales. We were not surprised to learn the majority (82%) believed the pandemic would negatively impact their 2020 earnings. Fortunately, a rise in base salary offset a decrease in commissions, and biotech sales reps saw a slight increase in total compensation.

2021 Biotech Sales Salary Key Findings:

  • – While biotech sales reps saw only a 1.3% increase, they report the highest total compensation over all other categories
  • – Job satisfaction is highest among biotech sales reps at 90%
  • – Small manufacturers pay the most in average base salary, commissions, and total compensation
  • – Only 29% of biotech respondents are represented by women, however, they report earning 90% of that reported by their male peers

Biotech sales reps saw a record-breaking increase in total average compensation at the end of 2019. Following a steady rise in compensation before the global crisis, it’s no wonder 50% of biotech respondents said COVID had a negative impact on their 2020 earnings. However, just 17% earned less in 2020 than they did the previous year.

The biggest negative impact on biotech sales incomes is in commissions based on travel. Those who travel at least part of the time saw decreases in commissions across the board. However, those who travel 25% of the time or more earned significantly higher base salaries than the previous year, with those traveling half the time taking home the highest base pay. 

Biotech sales reps receive benefits like paternity leave and tuition assistance at a higher rate than any other product category, and their overall income satisfaction remains high (87%).


Check out our full findings below to learn more about how you can develop a successful biotech sales career:


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