Medical Sales Salary Report

“How much do med reps earn?” That’s the question the very first MedReps.com Salary Report set out to answer back in 2011. Today, according to the 2015 Medical Sales Salary Report, professionals working in medical sales jobs earn an average income of $141,464, with an average base salary of $80,681. Those figures can vary significantly though, and this report explores how and why.

The 2015 Medical Sales Salary Report not only looks at the average income of medical sales reps, but it also details how income is affected by a variety of different factors such as the type of product a medical rep sells, their specific job title, how much they travel, how much experience they have, and even things that seemingly shouldn’t impact earnings, such as age and gender.

Average Medical Sales Salaries by Product Sold

While people outside the industry may only think of pharma reps or medical device reps when they hear the term “healthcare sales” or “medical sales,” for our purposes, the term “medical sales” refers to professionals selling pharmaceuticals and devices, but it also includes those selling medical disposables, lab and diagnostic equipment, capital equipment, healthcare software or IT services – really any product or service sold into a healthcare market.

So which products bring in the most cash? In 2015, the top-earners were once again those with health IT and healthcare software sales jobs. These hard-working professionals report an average income of $169,881 (Med. $155,000). Professionals with surgical sales jobs and biotech sales jobs earned the second and third highest average incomes, respectively, though the median incomes for all three of the top product categories were equal at $155,000. Biotech sales professionals earn the highest average base salaries.

• Average Income by Job Title and Company Size 

It’s no surprise that Sales Directors and Sales VPs earn the highest medical sales salaries...

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• Average Medical Rep Salary by Age & Experience

You might expect those with the most experience to earn the highest average medical sales salaries, but this is not always the case...

• Medical Sales Salaries by Gender

Medical sales reps are far more likely to be men than women...

• Income for Medical Sales Reps by Travel and Location

Geography can also impact how much medical sales professionals earn – from how much a medical sales rep travels, to where they live...

• Medical Sales Income and Job Satisfaction

Approximately two-thirds of medical sales professionals say they are “very satisfied...

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GlaxoSmithKline could become the latest takeover target in the pharmaceutical industry

As the Daily Mail reports, dealers were speculating that GSK may face an approach from Roche of Switzerland or Johnson & Johnson of the US at about 1900p per share, valuing it at more than £92billion. In common with rivals, GSK has faced pressure from the strong pound and a need to develop new drugs as existing treatments face copy-cat competition.

The shares fell 22p to 1351p by the close of trading on Monday, down from 1642p a share in mid-April. A market source said: ‘People are hovering because of the vulnerability of the group at this price.’ They're also hovering because pharma M&A is still going gangbusters, even after a spate of large deals that included Actavis' buyout of branded drugmaker Allergan and Glaxo's own asset swap with Novartis.

The logic for a J&J or Roche bid? Perhaps not as strong as the case for a Pfizer buyout. True, J&J could add Glaxo's joint venture with Novartis on consumer health to its own sizable OTC-drug and consumer-products business. But J&J isn't into vaccines, and its prescription drug business lacks a respiratory segment, which is GSK's major pharma concern these days. Maybe J&J would like to be in those fields? Hmm. Maybe.

The top 10 most-advertised prescription drug brands

Pharma ad spending soared to $4.5 billion in 2014, backing branded drugs in levels not seen since the recession, with particular emphasis on blockbusters--and wannabes. Drugmakers poured $3.4 million into advertising spending on the top 10 drugs, which accounted for 75% of the total spent on all advertising of pharmaceuticals, according to Nielsen data. The big push at the top resulted in 5 drugs surpassing the $200 million mark in spending in 2014, versus just two that crossed that threshold in 2013. Not surprisingly, household names ruled the list, with two erectile dysfunction treatments in the top 10.

Eli Lilly's ($LLY) Cialis took over as the No. 1 spender while its chief competitor, Pfizer's ($PFE) Viagra, remained close by at No. 4. AbbVie's ($ABBV) Humira, which was the top spender in 2013, was one of the few that saw a decrease in spending, albeit minor, resulting in a drop to No. 5 as other brands loaded up on paid media.

A Patient Journey Isn't the Solution to Pharma Marketing—It's the Beginning

Megan Hillen

Megan Hillen is a planning supervisor at Intouch Solutions.

In 1898, Elias St. Elmo Lewis developed a sales framework known as the AIDA model. The revolutionary tool was the first visualization of the multistaged consumer pathway to a brand, from awareness to consideration to purchase. Since then, nearly a century has passed and the “consumer funnel” remains a go-to framework for marketers.

In the world of pharma marketing, we use a similar model. We call it the patient journey.

The traditional patient journey follows a patient through a funnel to a certain prescription through an AIDA-like approach. The stages most often consist of diagnosis, drug cycling and consideration, drug initiation, adherence and retention.

However, in an attempt to simplify the experience we lose out on incredibly rich emotional, behavioral and cultural factors that are inherent to a person battling a disease. Such factors are most often the keys to innovative solutions that could improve their lives. Perhaps the fault is in that we think of patients as consumers before we think of them as humans. Facing a debilitating battle against your body is a far cry from deciding which toothpaste to buy and it shouldn't be treated as such.

How exactly does our traditional journey model fall short?

It assumes every patient's journey is linear. No two fingerprints are the same. And no two patients have the same experience with their condition. We need to be mindful of the many nuances—such as severity level, health literacy and access to care—that impact the path and speed at which the journey progresses per individual.