Here's what you should know about these dynamic fields:
Day-to-day knowledge and skills
If you thrive in a structured environment and have strong organizational
skills, you may enjoy working in pharmaceutical sales. Prior selling
experience in outside business-to-business sales (B2B) is highly preferred
as a strong foundation to entry-level pharmaceutical sales. Your day will
revolve around planning, organizing your day, week while promoting and
selling prescription medications and healthcare products to healthcare
professionals, such as physicians, pharmacists, and hospitals. A total
office call is when you speak to every staff member who may be recommending
your product to patients.
If you want to lead the way as a pharma sales rep, you need to possess strong sales and negotiation when communicating with
healthcare professionals, and stay up-to-date on new medications, clinical
data, and treatment options. You may also need to organize educational
events and conferences to promote product awareness and foster
relationships.
If you like variety and feed off high-energy environments and interactions,
medtech sales or device sales might be the perfect fit for you. You may be
on-call with more travel opportunities than in pharma sales, and collaborate
with multidisciplinary teams, including surgeons and clinical specialists to
support the successful adoption and utilization of medical devices.
Medical
device sales professionals require strong product knowledge, technical
expertise, and clinical knowledge. You may sell a wide range of medical
equipment, devices, implants, and diagnostic tools, and may need specialised
education such as a degree in life sciences. To break into medical device
sales, you usually start in an Associate role. This is a training
opportunity and a sales support role. Oftentimes, you support a Sales
Consultant. This “on the job” training develops the skill set and knowledge
to begin assisting Surgeons in the OR setting. Individuals with drive,
determination, hard work ethic thrive in this very fast paced environment.
Compensation
Pharmaceutical sales reps typically earn a higher base salary and may
receive a bonus incentive on a quarterly basis. Your bonus may be capped due
to the perks of having a standardised workday structure. With innovations
such as cutting-edge digital platforms, big data analytics, and cloud
computing, helping the pharmaceutical sector grow, it’s expected to reach
USD 1.5 trillion in 2023. This makes for a profitable career path.
On the other hand, a medical sales rep's salary may have a lower base salary
than in pharmaceutical sales. Usually, the upside is that your commission is
higher and more likely to be uncapped. Innovations shaking up the
US medical device market
industry are supporting the strong upward growth trend, making it a
lucrative market.
People you might work with
Pharmaceutical sales representatives can often be found patiently waiting in
doctor's offices, suited and booted in professional attire, anticipating an
opportunity to engage with healthcare professionals. The art of
perseverance, patience, and understanding is paramount in this profession.
Regardless of whether you secure a conversation or are turned away due to a
busy schedule, pharmaceutical sales reps must maintain a composed,
professional, and amiable demeanor towards all staff members.
Unlike their counterparts in pharmaceutical sales, medical device sales
representatives can be found in various settings, ranging from doctors'
waiting rooms to wearing scrubs and applying their problem-solving skills
directly in the operating room. The expansive range of products within the
medical device field empowers professionals to choose their desired level of
technical involvement and where they prefer to allocate their time.
Those in medical device sales representatives jobs engage with a series of
healthcare professionals, including surgeons, clinicians, and technicians,
as well as hospital administrators and purchasing departments. Building
relationships, providing technical expertise, and offering customized
solutions are vital for success in this field.
Regulatory environment
The pharmaceutical industry is subject to stringent regulations to ensure
ethical marketing practices, patient safety, and compliance. Pharma sales
professionals must stay up-to-date with industry
regulations
and
pharmaceutical industry guidelines ,
and adhere to the highest standards of professionalism.
The medical device industry operates within a regulatory framework that
ensures safety, efficacy, and quality. Professionals in this field must
possess a thorough understanding of regulatory requirements and comply with
standards, such as those set by the
FDA (U.S. Food and Drug Administration).
Ready to start a rewarding journey in
healthcare?
Remember, regardless of the path you choose, continuous learning,
adaptability and a genuine passion for improving patient outcomes will set
you on a rewarding and fulfilling journey in healthcare.
If like us you value innovation, collaboration, and the pursuit of
excellence in advancing healthcare worldwide, then start exploring pharma sales jobs or medical device sales representative jobs at IQVIA today.
