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Frequently Asked Questions
1. Do I need a BA or BS degree to be eligible
for pharmaceutical sales?
Most pharmaceutical companies require a Bachelor of Arts (BA) or
Bachelors of Science (BS) as a minimum requirement for hire. All
of our pharmaceutical clients require that we submit candidates
with a valid degree. The company will verify the degree by requesting
a copy of your college transcripts.
In some cases a pharmaceutical company may state that a degree or
equivalent experience is preferred. However, after a comparison
of two candidates who appear to be equally qualified, the candidate
with the degree is more likely to get the job.
2. Is a science degree required to become a pharmaceutical sales
representative?
Certain pharmaceutical companies have strong preferences for a science
background however; it appears a majority of pharmaceutical sales
representatives have a BA degree in business related fields. Most
companies require a degree but do not specify a preference for a
particular field of study.
3. Should I use a recruiter to help me find
a job in pharmaceutical sales?
Absolutely. The majority of pharmaceutical companies use recruiters.
They are well connected within the industry. Besides getting you
the interview, they can help you in numerous ways including: suggestions
for improvements to your resume, helping you improve your interview
skills, giving you insight into a managers personality, advising
you on where to do your homework and help you negotiate a salary.
The book gives suggestions on how to select a recruiter and solid
reasons for utilizing a recruiter.
4. How much money can you make in pharmaceutical
sales?
A pharmaceutical sales representative can initially receive a salary
package that averages over $90,000/year. This includes: base salaries
which range between $45,000 to $50,000 depending on the amount of
sales experience a person has; a company car; excellent benefits,
including health, dental and life insurance; a 401K and possible
stock options, all valued at over 25,000/year. It also includes
bonuses based on individual sales performance, which usually range
from $10,000 to $25,000 per year..
5. I am not getting any responses after posting
my resume or submitting my resume & cover letter on the Internet;
am I doing something wrong?
Many resumes are rejected based on the following reasons: They are
grammatically incorrect or formatted incorrectly. They lack “performance
phrases” and/or “performance indicators”. They are
too long and monotonous to read. One of the biggest reasons is the
cover letter does not explain why a company should interview you;
instead it explains why you are answering their advertisement. The
book has a full chapter on cover letters and resumes including examples.
6. What career opportunities exist within the pharmaceutical
sales arena?
The sky is the limit. You can be promoted into numerous positions
of responsibility. They include but are not limited to: hospital
sales, managed care sales, specialty product sales, international
sales, sales trainer, district manager, product manager, regional
manager and Vice President of sales
7. Are medical sales companies willing to hire
from the pharmaceutical industry?
Yes, the majority of all medical sales companies will hire a pharmaceutical
sales representative. They prefer to hire those representatives
who have between two and four years of pharmaceutical sales experience
with a strong performance record.
8. Do most pharmaceutical sales positions require
a lot of travel?
No, major pharmaceutical companies have relatively small sales territories
which does not require any overnight travel. Overnight travel does
occur during training periods and meetings. If you are promoted
to hospital, specialty sales or management you will be required
to travel more frequently.
9. Can I land a job in pharmaceutical sales
right out of college?
Yes, the majority of pharmaceutical companies do recruit off of
major college campuses. However in this particular circumstance
they are seeking graduates with science backgrounds. If you do not
have a science degree, at least a year of outside sales experience
is required. Outside sales of business products to other businesses
have significant preference over retail sales and real estate? Companies
with strong name recognition, excellent sales training and those
who document each individual sales performance are preferred (i.e.:
Xerox, ADP, AT&T, etc.).
10. With all the changes in the economy and
the healthcare industry is pharmaceutical sales still a good career
decision?
Many economists view the pharmaceutical industry as recession-proof.
However, recently, certain blockbuster drugs have gone off patent,
generic forms of a drug can be sold by other companies at a much
cheaper price. Also the FDA has made some recent unexpected decisions
regarding products not considered new or improved. These and other
events have prompted the pharmaceutical industry to focus their
efforts on new product development. All indications demonstrate
a large number of new products are forthcoming. Many analysts suggest
that the pharmaceutical sales industry will boom again between 2004
and 2009!
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