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“How much money does a pharmaceutical sales rep make?”
Every year, MedReps conducts a survey to answer this question and more:
“What size pharmaceutical sales company pays the highest salary?”
“How much commission do pharmaceutical sales jobs pay?”
“How does travel impact pharmaceutical sales salaries?”
“How does location, age, and gender impact pharmaceutical sales earnings?”
Pharmaceutical sales reps have broken a record in this year’s 2019 Medical Sales Salary Survey. That’s part of the magic in sales. There’s always an opportunity to grow and we found that’s exactly what reps in this field are doing.
2019 pharmaceutical sales salary key findings:
- – Pharmaceutical sales reps see an increase in both average base salaries and average commissions
- – SMBs are offering total compensation packages that rival those from large pharmaceutical companies
- – Pharmaceutical sales reps calling on hospitals earn the highest average total compensation
- – The pharmaceutical sales industry comes closer to income parity than any other segment of medical sales
- – Respondents with the greatest amount of experience earn over $60,000 more than the most novice reps
Salaries across pharmaceutical sales increased by nearly $10,000 in average total compensation since last year. The increase broke a record for the biggest salary increase in our survey’s history. This is due to large increases in both increased commissions and bonuses.
While 46 percent of the 402 employed medical equipment sales respondents reported being somewhat satisfied with their earnings, only 31 percent said they’re very satisfied. However, our survey revealed this doesn’t equate to lowered job satisfaction. In fact, 76 percent of respondents said they’re satisfied in their current roles.
The most notable fact is, pharmaceutical sales reps are dedicated to their roles. Respondents in our survey have an average of 13 years of experience and spend over 13 percent of their time traveling overnight. We also found 88 percent of pharmaceutical reps hold a four-year college degree or higher.
Check out the full findings below to learn more about how you can reap the financial rewards of a pharmaceutical sales career:
View Previous Pharmaceutical Sales Salary Reports:
- 2018 Pharmaceutical Sales Salary Report
- 2017 Pharmaceutical Sales Salary Report
- 2016 Pharmaceutical Sales Salary Report
- 2015 Pharmaceutical Sales Salary Report
- 2014 Pharmaceutical Sales Salary Report
- 2013 Pharmaceutical Sales Salary Report
- 2012 Pharmaceutical Sales Salary Report
- 2011 Pharmaceutical Sales Salary Report