Total Pay<\/strong><\/td>\nR164,630 to R520,220<\/td>\n<\/tr>\n<\/table>\n2. Experience<\/h3>\nIn the United States, the mean salary of $66,000 for entry-level pharmaceutical sales representatives jumps to $86,000 for those with five to ten years of experience. At the ten to 20-year experience level, the mean climbs to $99,000, with the mean beyond 20 years resting at $105,000.<\/p>\n PayScale reports a mean of C$60,000 for representatives in Canada with under five years in the field. Mean pay increases to C$77,000 for those with five to ten years, then inches to C$78,000 at the ten to 20-year experience level. Beyond 20 years of experience, pharmaceutical sales representatives in Canada can expect a mean of C$89,000.<\/p>\n According to the National Careers Service, pay for medical sales representatives, whose duties include sales of pharmaceuticals, ranges from \u00a319,000 to \u00a331,000 for \u201cstarters.\u201d Those at the \u201cexperienced\u201d level make from \u00a331,000 to \u00a340,000 and \u201cHighly Experienced\u201d ones can earn from \u00a340,000 to \u00a360,000.<\/p>\n For Australia, the entry-level pharmaceutical representatives earn on a mean basis AU$71,000. The mean at the five to ten-year stage rises to AU$84,000 and peaks at AU$91,000 for those with ten to 20 years. The mean pay slides to AU$75,000 for pharmaceutical sales representatives upon achieving more than 20 years of experience.<\/p>\n In South Africa, the mean for entry-level pharmaceutical sales representatives registers at R272,000. Upon accumulating five to ten years experience, these professionals can expect a mean of R347,000. The mean increases to R374,000 for those between ten and 20 years on the job. With more than 20 years experience, the average becomes R390,000.<\/p>\n 3. Industry<\/h3>\nThe pharmaceutical sales field features a mix of representatives employed by the manufacturer (inside representatives) and outside sales representatives. In the latter category, sales representatives may operate their own agencies. According to Job Bank Canada, nearly 17 percent of \u201cTechnical sales specialists \u2013 wholesale trade\u201d resided in the self-employed category.<\/p>\n Pharmaceutical field sales representatives in the United States have a median pay of $71,981 per year, while outside sales representatives, who work in firms representing pharmaceutical makers, have a median annual salary of $66,000.<\/p>\n Self-employed representatives earn based upon commissions. Those employed by manufacturers or by agencies typically receive a mix of commissions, base pay and profit-sharing. In the United States, pharmaceutical representatives collect up to $12,108 in profit-sharing benefits, while commissions reach as high as $36,030. For Canadian pharmaceutical sales representatives, commissions average C$9,826. Reported commissions earned by those in Australia run from AU$1,750 to AU$20,226.<\/p>\n The mean commissions stand at NZD$2,500 for representatives based in New Zealand. Commissions run in South Africa between R9,759 and R119,104. Those who participate in profit sharing in the country earn up to an additional R78,297.<\/p>\n Schedule & Working Hours<\/h2>\nWhile pharmaceutical sales representatives overwhelmingly work full-time, schedules often vary. Travel constitutes a significant part of the job description and overnight stays may prove frequent. Representatives must visit physicians\u2019 offices, clinics, hospitals and pharmacy retailers or distributors. Generally, these sales representatives may have fairly broad sales territories. Trade shows, conferences and company-required training sessions for orientation into new products contributes to the travel and time away from home offices.<\/p>\n Bonuses & Benefits<\/h2>\nAccording to PayScale, 94 percent of pharmaceutical sales representatives in the United States have medical coverage from their employers. Dental care is a benefit for 86 percent, while 76 percent enjoy vision benefits.<\/p>\n For Canada, the coverage rates are 84 percent for medical, 73 percent for dental and 59 percent for vision, says PayScale. Only 15 percent of representatives in Australia report having medical care as a job benefit, with dental and vision care going to four percent of these professionals.<\/p>\n Nearly 63 percent of New Zealand\u2019s pharmaceutical sales representatives receive medical benefits. For dental and vision, the coverage rates are 38 percent and 12 percent respectively.<\/p>\n In South Africa, representatives enjoy medical benefits at the tune of 68 percent. One in ten of these workers have dental care, with vision benefits enjoyed by nine percent.<\/p>\n Career Outlook<\/h2>\nThe incidents of disease and need for treatments will mean greater development and production of pharmaceuticals, requiring representatives to market them to health providers such as physicians and hospitals.<\/p>\n According to Monster.com, global sales of drugs could reach $1 trillion by 2020. Nearly 50 percent of those sales will come from specialty and biologic offerings, says Monster.com. The Food and Drug Law Institute reports the pharmaceutical industry in India ranked third worldwide in volume and tenth in value. By 2020, the industry in India could reach the top six globally in size.<\/p>\n The U.S. Bureau of Labor Statistics projects a six percent rise in employment of \u201cSales representatives, wholesale and manufacturing, technical and scientific products\u201d through 2026. In 2016, the field had an estimated 343,600 occupants. In the independent sales representative field, job growth could 14 percent by 2026, as companies seeks to outsource sales functions in order to reduce expenses.<\/p>\n Canada\u2019s \u201cTechnical sales specialists \u2013 wholesale trade\u201d occupation should have 33,500 openings and 32,100 seekers by 2024.<\/p>\n A Hayes company report covering October to December 2017 says that Western Australia and the Australian Capital Territory exhibit strong demand for pharmacy sales representatives. Rural areas may experience a scarcity of qualified candidates.<\/p>\n Conclusion<\/h2>\nEarnings for pharmaceutical sales representatives come via base pay, commissions, bonuses and profit sharing in some cases. With more sales and experience can come higher pay. Due to the demand for treatments and the knowledge and technology that develops the treatments, pharmaceutical sales representatives can find ample opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":" Pharmaceutical sales representatives earn on a mean basis $88,812 in the United States and C$66,391 ($52,194 USD). In the United Kingdom, the mean stands at 44,000 ($58,790 USD). Mean salaries<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/posts\/64"}],"collection":[{"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/comments?post=64"}],"version-history":[{"count":1,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/posts\/64\/revisions"}],"predecessor-version":[{"id":139,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/posts\/64\/revisions\/139"}],"wp:attachment":[{"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/media?parent=64"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/categories?post=64"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/salarieshub.com\/wp-json\/wp\/v2\/tags?post=64"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |