2011 Pharmaceutical Sales Survey Data is now available from the NAPRx

June 8, 2011 - PRLog -- 2011 Pharmaceutical Sales Survey Data

The NAPRx has recently come out with its 2011 pharmaceutical sales survey.   A complete survey can be obtained by contacting the NAPRx at questions@napsronline.org  The National Association of Pharmaceutical Representatives® (NAPRx®) is the United States largest trade association for sales reps, sales managers and sales trainers who work in the pharmaceutical industry. NAPRx® represents sales representatives who work in the pharmaceutical industry and provides Continuing Medical Education to its members as well as candidates who look to enter a pharmaceutical sales career.

The NAPRx® (National Association of Pharmaceutical Representatives®) is widely known for its CNPR® Certification Training Program which provides vocational education for individuals looking to enter a pharmaceutical sales career. It is important for aspiring pharmaceutical sales applicants to include their CNPR® Certification on their resume to qualify for interviews. The CNPR® Certification provides necessary job prerequisites, such as: product/industry knowledge; selling guidelines and regulations; medical terminology; pharmaceutical selling techniques; drug sampling; physician detailing; introduction to pharmacodynamics and pharmacokinetics. The CNPR® Certification Program is available by correspondence directly through the NAPRx® or can also be taken at over 300 universities/colleges in the United States.

The list below displays  salary data for Pharmaceutical Sales Representative in the top 10 different cities.
1,  Houston, TX          $96,864
2.  Chicago, IL            $97,225
3.   New York, NY      $110,713
4.  Phoenix, AZ           $89,826
5.  Atlanta, GA            $91,857
6. Dallas, TX              $95,891
7.  Orlando, FL           $89,300
8.  Los Angeles, CA   $102,140
9.  Miami, FL               $92,737
10.  Charlotte, NC      $92,190

PHARMACEUTICAL SALES SALARY: How Much is the Guaranteed Base and When Can You Can Get Your Hands on It?

Most beginning pharmaceutical reps will make a base pharmaceutical sales salary, depending on the type of experience you have and the number of years you’ve invested in your previous career(s). Obviously, a new college graduate will make on the low side of that pharmaceutical sales salary range, while an experienced outside salesperson would make on the high side. In addition, managers will also consider what you are currently making in your current position, and use that as an additional guideline.

BONUS:   It's Sometimes Even Larger Than the Pharmaceutical Sales Salary, Itself!

Every company structures their bonus system a little differently. For example, some companies have a limited bonus payout per year – meaning that they already know how much the #1 rep in the company will make because it is “capped” – limited. The capped bonus may lie anywhere in the $28-$45k/yr range, depending upon the company. However, some companies may have an unlimited bonus structure in which there is no cap to the yearly bonus. Those companies tend to payout much higher dollar amounts in bonus if you have excellent sales numbers. For example, a company that I previously recruited for pays out around $80-110k/year in bonus alone for their top reps. (Pretty good, eh?) As you can see, there's a lot of variance in bonus amounts that you can earn at a specified company. Therefore, this is something you will definitely need to ask the manager before you accept an offer.

How companies determine bonus amounts is also structured differently from one company to another. All companies expect their pharmaceutical reps to attain at least 100% of their target/goals. Anything over that 100% usually results in a dramatic bonus increase. For example, the target bonus - how much in bonus a rep will make at 100% - is usually in the range of $18-28k/yr. So, let’s suppose that at target (achieving 100% of your goal) you will make $24k. However, let’s also suppose you are achieving 125% on all 3 of the products that you promote. So, depending on how the company computes the bonus, you will make around $4-6k more/year because you are over your goal. However, if the company has a capped bonus system, no matter how much you’ve surpassed your target, there will be a limit to how much money you can receive in bonus.

Every company determines their own method of how to assess growth and this can change every 6 months – so don’t get too comfortable! For example, some pharmaceutical sales companies track the # of new scripts coming in and your goal will be set in reference to that measure. Other companies may determine bonus by measuring the total # of scripts (not just the new scripts. And yet another pharmaceutical company may base target on a formula that takes both of these measurements into consideration. Again, this is a great question to ask in the interview process because it shows that you are familiar with the general bonus structure system. Basically, every company tweaks their compensation system a little differently.

Pharmaceutical Sales Job Responsibilities:
Professionally promoting company products to health care professionals. Developing and executing territory business plans. Conducting analysis on product and market trends. Coordinating efforts with territory partners in a team environment. Organizing educational programs for health care professionals.

Job Requirements:
Most important requirement is that you have sales experience with pharmacology industry knowledge. Although they also hire a lot of fresh graduates. Background in Life Sciences especially in Pharmacology (like having a CNPR Certification is a big plus). . They also like to see self starters, entreprenuerial-minded people who are capable of managing a territory.

Positives about a pharmaceutical sales career:
Great hours-you can be flexble with this. Lots of freedom No boss watching your every move. Company car and expense account Lots of opportunity for advancement. They want to move out and you can be open with your boss on your career goals within the company.

Negatives of a pharmaceutical sales career:
Lots of regulations (FDA, HIPAA) that restrict the promotion of your product.  Like any sales positions, you have to build rapport to get face time and sell. Your boss is your company environment. If you get along with him/her, it can be great and the opposite is true too. Hard field to break into with Certification or experience. Can be very tiring-dealing with clients.

Pharmaceutical sales career lifestyle:
Its a great sales job. One of those jobs with the best lifestyle. One basically sets his/her hours. If needed, one can always make room for life's emergencies by either leaving late in the morning or leaving early in the day. I find ways to make up for it tho by working longer hours in other days. The company really takes care of you. Great health and dental plan. One can always see the doctor if sick and in an emergency (its actually a great way to get some face time). Company car and expense account is provided and to be used at your discretion. You have to be careful tho to never be caught where you're not supposed to be.

The NAPRx® has been highly recommended by pharmaceutical companies to the many individuals who are looking to break into the pharmaceutical sales. The program educates aspiring pharmaceutical sales reps on clinical pharmacology, medical terminology, rules and regulations for selling pharmaceuticals, pharmacokinetics, etc. Successful graduates of the NAPRx® program will have access to our Career Center where pharmaceutical companies post openings for our members and graduates. If you are looking to gain entry into the industry, the NAPRx® is the place to start. If you have any questions just email us at questions@napsronline.org .

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The largest association in the United States representing over 48,000 pharmaceutical sales representatives.