Today, more and more candidates are competing for positions in the highly lucrative field of pharmaceutical sales..and here is why:  According to Salary.com, the median salary, including benefits, for a pharmaceutical sales representative nationwide is $95,660. In Chicago, that number is $103,688, in Los Angeles $108,227 and in New York $113,114.  You’ll also have the chance to work out of your home office and, in some cases, to work flexible hours.

Here are some other key basics:

Base Compensation:

• 0-2 years of industry experience: $42,000 – $50,000

• 2-5 years of non-industry outside sales experience: $50,000 – $58,000

• 2-5 years of industry experience: $58,000 – $65,000

• 5+ years of industry experience: $65,000 – $75,000

Bonus:

• Average Bonus: $15,000 – $20,000

• Experienced Bonus: $18,000 – $30,000

(Anyone with more than two to three years of outside sales experience)

A Partial List of Benefits:

• An average of three weeks of vacation in the first year

• Company car, including all gas, comprehensive insurance, all

maintenance, from oil changes to tire replacements, and a per diem for

personal gas use, valued at $7,000 to $8,000 a year

• Health insurance: full coverage for primary healthcare, dental, vision,

spouse, pregnancy and birth, and children

• Equipment, including laptop and cell phone or cell phone reimbursement

• Most home office expenses

• All business expenses

• 401k includes employer match

• Stock option purchase plan, activated at date of tenure in some cases

• Full tuition reimbursement

• Spouse and children benefits

• Daycare service discounts

 

Check back soon for my top tips on setting and achieving goals, a necessary first step to breaking into this industry.