$100K Salary Jobs in Professional Sales
While some manufacturing sectors have reported a major decline in sales revenue, leading to the dissolution of positions, there are healthcare positions posted for professional sales representatives that have the potential of being $100K salary jobs. Healthcare areas currently hiring representatives include medical suppliers, biopharmaceutical companies, and pharmaceutical companies not exposed to generic competition.
Salary and Bonuses
Pharmaceutical, biopharmaceutical, and medical supply companies have very different salary, bonus, and expense reimbursement structures. Some companies provide an automobile, computer, and expense account for meals and overnight stays, as well as reimbursement for communication expenses. Other companies may have charges for some items.
Companies have different philosophies regarding base pay and bonus pay. Some organizations may offer a lower salary with a higher opportunity for bonuses based on sales attainment. Because of these variations, salaries for sales representatives may be below $100K, but with bonuses the annual income will exceed $100K. Professionals who have very strong sales skills and understand the market may gravitate to positions with high variable pay. Sales representatives with strong relationships and excellent sales skills may achieve salary plus bonus incomes of over $150,000 per year.
Job Requirements and Skills
Most companies willing to pay $100K or more for sales representatives will require that the applicant have at least five years of experience in sales and have a record of superior performance during that time. Professional representatives in healthcare must understand the buying process for the product. Sales representatives plan and execute an effective routing that takes them to the customers who will drive business in their territory. They are also able to build business relationships with customers, as well as track progress using sales reporting software and tools provided by the company.
Biopharmaceutical companies may have additional requirements regarding managing outpatient and hospital accounts, including working closely with specialty physicians, including oncologists, immunologists, or others, based on the products manufactured. Account management may also include working with academic teaching hospitals and medical research facilities where the representative may be required to train technicians on the administration of the product.
In addition, biopharmaceutical representatives may be required to work closely with the research and development side of the company, especially if the biological product has special dosing regimens or technical issues requiring aggressive patient management.
Sales representatives who sell pharmaceutical products must remain compliant with FDA and other regulations that result from the distribution of samples.
Areas to Highlight in the Resume, Cover Letter, or Interview
Competition will be strong for these positions. Applicants should highlight successes, such as sales awards, market share growth, goal attainment over 100 percent, or superior sales rankings in order to meet the basic requirements for a screening interview.
For biopharmaceutical sales positions, especially those where the product is extremely expensive, strong communications skills are necessary to convey the complex nature of the treatment regimen, as well as how to appropriately select patients that will have the best chance of success on the therapy.
Because of the large number of applicants for positions, many companies utilize telephone screening interviews as the initial step in the hiring process. The interview usually lasts about thirty minutes and helps the company understand the basics of the applicant's resume and career experiences.
If the applicant is successful with the telephone screening interview, then the company may schedule interviews with the hiring manager, the human resources manager, and the regional director.
Utilizing a portfolio showing successes on territory will help the applicant demonstrate their selling skills with the hiring manager. At the end of the interview, most hiring managers expect the applicant to ''close the sale'' by asking for the position.
Educational Requirements
With the high level of competition and the technical nature of the products sold, almost all positions require the applicant hold a bachelor's degree. For traditional pharmaceutical positions selling blockbuster products, a degree in a life science or healthcare-related field is desired, but not required. However, the applicant will need to be comfortable discussing technical aspects of the treatment with physicians, nurses, pharmacists, and other allied healthcare professionals.
For medical supply sales, a bachelor's degree is also required. However, because the nature of the sale may be with purchasing agents and other allied healthcare personnel, a degree focusing on business may be desired, especially to highlight cost-benefits of the supply process for a hospital or surgical center.
For biopharmaceutical sales positions where the representative will be working with academic hospitals and specialists, some companies require life science degrees, and some have a preference for advanced degrees, including PhDs or MDs, depending on the nature of the treatment.
Conclusion
Although the competition will continue to be challenging for $100K jobs, it is still possible to find jobs over $100K. With the increase in interest in biopharmaceuticals, as well as medical supplies, applicants who have a background in sales and science may find a rewarding and well-paying career.