Salaries in the pharmaceutical industry: what is the salary in the most demanded jobs?
Morgan Philips Executive Search conducted a salary study of professionals in the pharmaceutical industry to determine which salary ranges have the most in-demand positions in the industry. The data was obtained from more than 1,800 interviews with candidates that its consultants conducted last year. Below is an analysis of the 10 most requested positions in Spain, by position and associated salaries:
Sales Representative – Retail Channel
The retail channel is in the therapeutic areas of Cardiology, Breathing, Dermatology, etc., of which hospital prescription drugs are also dispensed in neighborhood pharmacy. The salary scale of the sales representative of the distribution channel is between 30,000 and 45,000 euros of fixed annual salary with a variable structure that can vary between 12,000 and 22,000 euros, at 100% achievement of objectives.
Sales Representative – Intrahospital Channel
The intrahospital channel focuses on the therapeutic areas of cardiology, oncology, infection, immunology, CNS in areas such as multiple sclerosis, that is, it consists of drugs whose delivery is carried out exclusively at the intra-hospital level. The hospital salesperson position starts from a fixed annual salary of 50,000 euros, which, although difficult to limit, can reach up to 65,000 euros. The structure of variable wages is similar to that of the retail channel.
It is difficult to narrow the range in these cases due to the arrival of new players in the oncology and immunology market without a prior presence in the country. This has led to an upward mismatch of the classic structures of these delegates. In this type of business, there are trade commissioners with fixed salaries above 80,000 euros per year.
Sales Director – Retail Channel
The salary structure of the chain’s retail sales manager is between 70,000 and 80,000 euros gross per year, with a variable of between 20,000 and 30,000 euros per year.
Sales Director – Intra-hospital channel
In the case of the commercial director of the hospital market, it is between 80,000 and 100,000 euros gross per year, with a variable structure as before.
In this case, we detect the same case as the companies we have just mentioned, which have just arrived on the market without experience or their own presence in the field, in which these regional Sales Managers can earn between 90,000 and 105,000 euros in fixed salary.
Liasion in medical sciences
The figure of Medical Science Liasion, due to its not so recent integration into the traditional structures of pharmaceutical laboratories, presents a higher salary homogeneity than, for example, the sales networks mentioned above.
MSL salaries are on average 55,000 euros fixed salary with a variable of 12% -15%. However, the range can be between 50,000 and 65,000 euros of fixed salary. Marta Bravo also points out that “in this case we consider it important to mention some aspects to be taken into account by the figure itself, since we find several cases in the universe of MSL, which means that the salaries may vary a lot depending on certain conditions:
Very scientific salespeople who have promoted the MSL position internally and who, due to their seniority in the company, their knowledge of the field and their experience, are between 70,000 and 80,000 euros in fixed salary, assuming the reduction variable from their previous posts. Basic research professionals, who usually bring a doctorate, with international experience, who undertake a master’s degree to join the pharmaceutical industry, and start their first contract in the medical service as an MSL with a salary of between 40,000 and 42 000 euros per year ”.
In this case, salary segmentation is not done by product, but by type of company. Lasbig pharma maintains a salary scale for Medical Advisor between 75,000 and 85,000 euros gross per year, with a variable of 15-20%, while medium-sized companies place their salary scale between 60,000 and 70,000 euros gross per year, with variable structure similar.
National Market Access Manager
Continuing with a line of middle management as until now, we will analyze the figure of the National Market Access Manager and the field teams, known as Regional Access Manager, now RAMs, or Market Access Manager, in its acronym, MAMs.
The salary in the case of National Market Access Managers can be between 90,000 and 120,000 euros gross per year with a variable salary structure which oscillates around 20% associated bonus.
Regional Market Access Manager / Market Access Manager
In the access field teams, hereinafter RAM or MAM, the defined salary range is 75,000 to 90,000 euros gross per year with a variable of 15% to 18%. Marta Bravo also underlines that “the Market Access service is considered, in terms of salary, probably as the most variable of all the classic positions in the pharmaceutical industry. Indeed, its beginnings in the pharmaceutical environment are relatively recent, compared to the history of the classic figures of sales, marketing, etc. We therefore find representative wage differentials which reach a fixed € 110,000 depending on the company and its size. “
Head of Regulatory Affairs
Another particularly relevant and complex figure in the market is that of the Director of Regulatory Affairs. The salary scale is generally between 50,000 and 70,000 euros gross per year and a variable between 10% and 20%.
We will differentiate two ranks of Product Manager based on experience. Junior Product Manager will be considered with a salary of between 30,000 and 50,000 euros gross per year and with a variable between 7% and 15%. From 50,000 fixed salary and up to 85,000 euros, we find the figure of Senior Product Manager with a variable structure around 10% -20% and, to both categories, we add 10% per rank if we are talking about large pharmaceutical companies in pathologies such as oncology, immunology and HIV.
“Even during a pandemic, the pharmaceutical industry continues to position itself as one of the sectors with the most competitive salary scales in the market. In an increasingly complex context where uncertainty is present at all levels; ERE, internal reorganizations, changes of functions, search for greater efficiency in the health system; Maintaining this leadership, both in terms of salary and excellence in the sector, will be key to the future of the pharmaceutical industry as we know it today, ”concludes Marta Bravo.