Is pharma sales even worth it anymore?

Same for me. My story is much like yours.

 

I have spoken to a number of professional sales people in other industries - most are amazed (not in a good way!) at what I describe to them about our industry. For one thing, the firing/laying off of President's Club winners is something they cannot comprehend. They also cannot comprehend how other high performers and people who have tenure with the company can be so easily cast away. They say things like, "Wow! What about the turn-over? That's got to be bad for sales", and, "What about the cost of hiring and training new people?!", etc. One of my friends who is in the financial services field thought about it, shaking his head, and then stated, "Well, I guess they're making so much money they just don't give a damn." And that's the best excuse I have heard thus far. On a final note, a buddy of mine works in the construction supply industry. He's been a successful rep in that industry for years. He typically has a lower base than I (his base is usually in the 70's or 80's), but he tends to make decent bonus (30-40K/year). He gets similar benefits to ours and gets a decent car allowance. He was only laid off once in his career - back in '09 when the economy really sucked and the construction industry was hit hard. Since then he only leaves job when he wants to leave. He does not experience the kind of instability that we do. Not surprising, he has never had a desire to be a pharma rep.

 

Thanks for sharing. Excellent post!

 

Contract pharma rep is not a career...need to pay mtge? OK this job will do till you find something else (contracts are guaranteed to end)...Pharma rep. with big pharma co...not really a career..like others have commented..this is not a growing career path (except for a very small percentage who go HIGH Cost specialty but that's the 3-5% of reps making that cut--and that's due to luck, who they knew, right time/right place)

Comfortable and easy hours yes...gratifying no

 

The pay is above average, so contract is worth considering.

But, its a dead end, and they don't develop their people. If INV were smart, they would set up more advancement opportunities.

 

Medicare Part D: when it come out, it gave the GREEN light for drug co's to screw the gov't and screw the gov't they did. So docs hands were forced to write many drugs that were not that good to satisfy the the pts.
Thus the rub.
Bend Over and take it like a Rep should: More tea sir?

 

I am a recent grad. Graduated end of 2015. Started in pharma March 2017. Started off with 55k base, 20k bonus. Was laid off after 6 months (big company downsizing) and got a 3 month severance. Landed a new gig (conveniently 3 months later) making an 80k base, 60k bonus.

Not many other jobs where I can move up the pay ladder as quickly as I did. I love the job itself. Prob the best paying job in terms of how easy the workload is. The only down side of this industry obviously is the layoffs, but there will always be a need. I think this industry is very much worth it, especially as a new grad. I plan to move into management once I turn 30.

 

Previous post is kinda of right,, Great job for new graduate or less than 5 experience...Great Training, easy lifestyle...pretty good money for a 27 year with some generic B.A. ...as previous post states...you don't want to 'stay' a pharmaceutical rep...but odds of moving up to mgt..?? maybe a 25-30% chance...better to take skills learned and move up and out of pharma sales...
/
hired in 2015!...previous poster has NO CLUE as to the PTSD that's reps have experienced in the previous 10 years of the Axing Season or as that rep back in 2006 told me "Winter is coming" ....just shows you that the Corporate Kool-Aid is still pretty easy to swallow to this fresh faces

Plus this is CONTRACT work here .... they'll end.

 

I'll be interested to hear how this poster feels when they have 10 years of experience and have to go back to a 60k base job after getting laid off so he/she can feed their family

 

It’s your fault if you get laid off. Whatever happened to Personal Responsibility and Self Reliance. Work hard and it won’t happen to you.

 

Pharma revenue, R&D, etc is all growing. While there are certain dynamics that are impacting access to docs, etc. I think to "get out now" would not be a good move.

Folks have been screaming that the sky is falling for years and years - yet the machine still rolls on.

 

As long as the industry keeps offering the WARN period, severance package, and higher base salary at the next stop, they can lay me off whenever they want!

 

Right! If your 25 I say forget it. If your 50+ I say ride it out and ABL = Always Be Looking and screw them before they screw you.

 

You either do not really work in this industry or you are new to it. I was laid off after having Year Over Year sales increase of over 300%, higher sales than the region or the nation. The company I was with was taken over by another company and my district manager had to relocate. I was stuck with a newbie manager who wanted to keep his friends. It is not always about performance. Sometimes it's who you know.

 

“I was stuck with a newbie manager who wanted to keep his friends.”
This quote sums it up! It’s your fault! Personal Responsibility. You are making excuses. You just didn’t cut it. Learn from your mistakes and move on!!!!

 

You are an idiot.Have seen many layoffs and many other dynamics involved-they often use algorhythm so they don’t get sued. Often sales success play no part

 

Yes, im keeping fingers crossed and diligently working to impress my manager. I'm safe and looking forward to being here another decade at least.

 

It really depends on the company and product. I’m in my early 30’s with 7 years in the industry and I’ve found it to be very rewarding financially. I do not expect the industry to last forever in terms of how it is today but if you need to change careers someday that is a harsh reality of the new world we live in, regardless of the industry. Live within your means, invest your money wisely and be authentic to your customers, coworkers and yourself. If you find yourself unable to continue in Pharma use your skill set to find a new area of opportunity. Only you can weigh out the pros and cons but take some of the negativity on here with a grain of salt, everyone deals with adversity differently and it’s not the adversity that defines you but how you handle it that ultimately opens a window into what type of person you are. Best of luck!

 

To be a young white male in pharma...the sky is the limit bud!!