The Average Salary of Pharmaceutical Representatives
A pharmaceutical sales representative is a highly trained professional who represents pharmaceutical drug companies in distributing, marketing and networking their products to physicians, pharmacists, dentists and health administrators. A pharmaceutical sales representative is primarily employed with pharmaceutical manufacturers and averages an annual salary of $40,730 to $95,028, depending on experience.
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Function
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A pharmaceutical sales representative is responsible for explaining the benefits, features and advantages of a specific drug product to medical clients in addition to up-selling promotions. A pharmaceutical sales representative may also distribute drug samples, take orders and promote new products. Depending on the size of the pharmaceutical manufacturer, a pharmaceutical sales representative may also be responsible for promoting more than one product in several territories.
Education
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In most states, a pharmaceutical sales representative is required to complete a four-year degree program, preferably in business, marketing or science and extensive on the job training on specific manufacturing company products. Some companies may require a pharmaceutical sales representative to have a strong scientific background with pharmacology knowledge and an advanced degree. According to Payscale.com, the U.S. national average in 2009 for a new pharmaceutical sales representative with less than a year of experience ranged from $40,730 to $57,879.
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Geography
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In larger cities where pharmaceutical sales representatives may be responsible for additional territories, such as New York and Boston, pharmaceutical sales representatives are offered higher salaries. The average salary in 2009 for a pharmaceutical sales representative in New York ranged from $58,509 to $87,529 and the average salary in 2009 for a pharmaceutical sales representative in Boston ranged from $60,781 to $87,105, according to Payscale.com.
Benefits
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Depending on size and bonus structure of the pharmaceutical company, a pharmaceutical sales representative may be eligible for bonuses. According to Payscale.com, the U.S. national average bonus in 2009 for a pharmaceutical sales representative with one to four years of experience is $17,132. In most companies, pharmaceutical sales representatives may also be commission-eligible based on sales production. According to Payscale.com, the U.S. national average commission in 2009 for a pharmaceutical sales representative with one to four years of experience is $19,184.
Potential
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According to the Bureau of Labor Statistics, pharmaceutical and medicine manufacturing ranks among the fastest growing manufacturing industries, and the employment outlook for sales representatives who are in the manufacturing industry selling scientific products, including pharmaceutical products, are expected to increase by 12 percent from 2006 to 2016.
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References
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