An Interview with a Pharmaceutical Sales Recruiter

By Pat Riley

President

10 Abbott Street L.L.C.

 

Why do so many people want to be in pharmaceutical sales?

 

Generally speaking, working as a pharmaceutical sales representative has a romantic aura about it. Why? I'm not sure, but the image that comes to my mind of a pharmaceutical sales representative is an individual that is successful, intelligent, and extremely professional. You might say they "have their act together".

 

Historically, pharmaceutical companies have only hired the best and the brightest people. For some reason, when you say you are a pharmaceutical sales representative, you and your abilities are instantly respected ¾ and I think others admire this respect. If someone were to sit down and really think about the job description of a pharmaceutical sales representative, I think they would conclude the following: A pharmaceutical sales representative sells a technologically advanced product to highly intelligent physicians in a very professional environment. You know what? They're right. A pharmaceutical representative is respected for their ability to sell multimillion-dollar drugs to highly educated physicians.

 

But getting down to the basics, I think people want to be in pharmaceutical sales because of the excellent income potential, the outstanding benefits, industry stability and the opportunity to improve other peoples' lives. Just think about this ¾ as a pharmaceutical sales representative, you could represent a drug that could potentially save a life or dramatically improve the quality of someone else's life. Now, how exciting is that?

 

Is the pharmaceutical industry a good career choice?

 

Well, it depends on your career goals. If you want a nine to five job where you have to rely on the good graces of your boss to receive a three percent annual pay increase and hope that you win the lottery to obtain financial freedom, then a career in pharmaceutical sales is not for you. But if want an opportunity for work that is stable, but in a growing industry with excellent career advancement opportunities, than pharmaceutical sales is a good career choice for you.

 

The pharmaceutical industry is a growth industry with a very positive future. I could talk for days on this subject, but out of respect for your time I'll tell you just a few reasons why this is great career choice.

· Did you know the pharmaceutical industry is recession-proof? There will always be illness. People will continue to need drugs to assist in the healing process as well as to retain a high quality of life. Regardless of the valuation of the stock market or political situations, the pharmaceutical industry is a solid career choice.

· Continued investment in drug research and development. Pharmaceutical companies invest more in research and development than any other industry. (Almost three times what the auto industry spends). Because of the large potential profit, pharmaceutical companies spend millions of dollars to develop and market new products. Pharmaceutical companies invest a tremendous amount of revenue in research and development. According to PhRMA Pharmaceutical Industry Profile 2001 , an estimated $30.5 million was spent in 2001 on research and development alone. However, the number of drugs that make it to market is very low. It is not uncommon for pharmaceutical companies to have only one drug make it to market out of 10 drugs in research and development. Most major pharmaceutical companies promote 4 to 5 drugs at a time. Over 70% of a pharmaceutical company's revenue comes from only 20% of their drugs (PhRMA Pharmaceutical Industry Profile 2001 ). The financial risk is high, but the potential financial reward is higher. Research and development is the future of a pharmaceutical company. Thus, with such a commitment to the future, a career in pharmaceutical sales is a solid choice.

 

What is the best way to break into pharmaceutical sales?