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How To Get Into Pharmaceutical or Medical Sales
If you want to become a pharmaceutical sales rep but you don’t have any experience in the field, watch this video to get started:
One of the problems with breaking into pharmaceutical sales is that there’s a lot of conflicting and misleading information on the web.
Candidates end up spending time, effort and money in things that don't help them get the job.
That’s why it is critical to understand what are the real requirements to become a pharmaceutical sales rep.
Pharmaceutical Sales Rep Requirements
These are the real requirements :
•You must have a completed Bachelor’s degree from an accredited university. The field, topic or major is irrelevant.
•You must have unrestricted legal authorization to work,such as being a citizen, permanent resident, etc. Most pharmaceutical companies will not be ok with temporary status such as a temporary work authorization, temporary residency etc.
To have a better understanding, check this post about the pharmaceutical sales requirements and don’t forget to download the free getting started guide
Those two are the only real requirements. However it is important that you have a good understanding of the disqualifying factors before you consider to break into pharma sales.
Disqualifying Factors
Having one or more of the disqualifying factors will prevent you from getting a job in this industry. Even if you receive a job offer from a pharmaceutical or medical sales company, once they learn you have one of them during the background check, they will disqualify you from getting the job and your job offer will be voided.
Companies will perform a thorough background check on you, therefore is really important that you don't lie in any part of the hiring process.
They will investigate your previous jobs and salary history.
They will call your school to verify your graduation date and GPA.
To learn what they are watch this video:
How Much Money Can You Make In Pharmaceutical or Medical Device Sales?
Pharmaceutical and Medical Sales Salary
Watch this video to have a better understanding about factors that will determine your compensation as a pharmaceutical sales rep:
One of the reasons why so many people want to work as a medical or pharmaceutical sales rep is because they get paid very well.
The exact salary will depend of the country you are based in but it tends to at very least, double the average income in the nation.
In the U.S. the average yearly income of an entry level pharmaceutical sales rep is around 75 to 80 thousand dollars. But it really varies depending on several factors. It is not rare to see drug reps making 120k or more a year and there are medical device reps who make around 300k. That is more money than what many doctors make.
Among the factors that will determine your total compensation are:
•Compensation plan design of the company you are working for
•Your sales performance and national ranking
•Previous experience you had when you were hired
•If you are launching a new product or selling an established drug
•Whether you are a direct hire or a contract position
Benefits of being a Pharmaceutical Sales Rep
One of the main reasons why this is one of the most desired jobs in most countries is because of the great benefits drug reps enjoy.
These are just a few of the benefits pharmaceutical sales reps get in the U.S.
•Company car or car allowance
•In the event you receive a company car, they also pay for your car insurance and maintenance
•Fuel card (to put gas anytime you need it paid by the company)
•Cell phone allowance
•Internet allowance
•Laptop and/or tablet
•401k (retirement plan) and very often stock options
•Health, life and disability insurance
•Meals and entertainment expenses
•Corporate credit card
•Paid training and trips to national conventions
•Trip awards for top performers
•Flexible schedule
•Opportunity to grow within the companies
To learn more about the benefits for working in pharmaceutical sales watch this video:
Where to apply?
There are several places where you can apply for pharmaceutical sales rep positions
You can apply directly in the company’s website.
Depending on what country you are located in, you will be able to use the job search engines to find open positions in the field. In the U.S. there are some websites that are specific for the industry.
If you want to learn about them check this post where I share what are the sites I personally use to find jobs in pharma.
I also cover some other tactics in the getting started guide..
The interview and the Hiring Process
To become a pharmaceutical sales rep you must master the art of the interview and in case you haven't interview yet for a position, you have to be aware that the process is very demanding. At the end of the day, to get a job as a rep, you must learn to sell yourself better than anyone else. That's is totally possible if you prepare yourself and that's one of the areas I work the most with my students.
To learn about how to answer the most common interview questions, check this post..
For most companies, there are several stages to get someone hired and the hiring process can last from a couple weeks to several months. Here I laid out the most typical hiring process so you know what to expect.
The Brag Book
One particular thing about the medical sales industry is that you will need a brag book for the interview.
Most recruiters and hiring managers will ask you to bring it in every step of the process. I prepared a quick guide on how to prepare your brag book for pharma and medical sales rep interviews. You can get in here totally free.
When should you start your preparation ?
It is like any other discipline. If you try to re-invent the wheel it will take you years, but if you learn from someone who masters the topic, you will get there faster.
Without having the proper preparation most people have to apply for a couple of years before getting a job in pharma. However my students usually shorten that to a couple of months, once they get the right preparation.
But, When should you start?
There are two common scenarios:
•People wanting to make a career change into pharma: if this is your case, you must start now because time is money. Every month that passes without having the income you desire is a loss. It is critical to get your qualifications and preparation ready for the process ASAP.
•College students: as having a bachelor’s degree is a must to break into the industry, I usually advice my clients to start working on the preparation one year before graduation. This will allow room to get your degree completed and have everything you need lined up by graduation date. If you work this right, you can even get interviewed a few months before graduation and minimize the gap between your graduation date and your first day on the job as a rep.
Conclusion:
Working as a pharmaceutical or medical sales rep is a very rewarding experience from the personal, financial and professional point of view.
However, preparation is key for success !
Don’t forget to download the Free Getting Started Guide, when you do, you also register to my newsletter where I share information to help you get into pharmaceutical sales in the shortest amount of time.
Good Luck!
Elvis Duarte
Pharmaceutical Sales Coach.
