Med Reps Have Spoken: The Best Biotech Companies of 2018
Although biotech presents its own unique challenges in the medical sales industry, it also delivers a uniquely positive employee experience. Reps cite merit-based compensation and product development as some of the reasons they love their jobs. Others are mostly impressed by the workplace culture:
Reps also take pride in the fact that their work makes a direct impact on the lives of patients.
So, despite only 6 percent of 868 respondents to the Best Places to Work Survey casting their vote in the biotech category, reps are happy with their roles in medical sales.
Best Large Biotech:
Best Medium-Sized Biotech:
Qualities of the Best Biotech Companies to Work For
Though often overshadowed by medical device and pharmaceutical sales, biotech reps appreciate the industry’s focus on innovation and product development. This ties into overall medical sales reps’ desire for a solid product line (44 percent) and company focus on innovation, research, and development (22 percent).
High earning potential was high on the list of perks for respondents who voted in this category. Overall, 81 percent of total respondents listed compensation as a driving force in choosing a medical sales company. And it’s no wonder why, considering the average base salary for biotech reps is $115,545, according to our 2017 Biotech Sales Salary Report.
Biotech Sales Job Satisfaction
Job satisfaction is high in biotech sales. Overall, 76 percent of medical sales reps surveyed in this year’s Best Places to Work Survey said they’re very or somewhat satisfied in their current roles. And in the 2017 MedReps Salary Report, biotech sales reps were recognized as the happiest in the industry.
Survey respondents are impressed with biotech-specific working characteristics, such as merit-based hiring, management transparency, and work autonomy.
That satisfaction doesn’t come without hard work, however. Biotech sales presents unique challenges, such as the need for technical knowledge, along with technical difficulties that need to be addressed.
In addition, reps must be comfortable with regular research and knowledge development.