Career Development

What Does a Pharmaceutical Sales Manager Do?

Find out what a pharmaceutical sales manager does, how to get this job, and what it takes to succeed as a pharmaceutical sales manager.

Pharmaceutical sales managers are responsible for managing the sales efforts of pharmaceutical companies. They work with a team of sales representatives to develop and implement strategies that help their company sell its products to doctors, hospitals, pharmacies, and other healthcare providers.

Pharmaceutical sales managers must be able to effectively manage large teams of people while also being detail-oriented enough to understand the intricacies of pharmaceuticals and how they’re used in the medical field.

Pharmaceutical Sales Manager Job Duties

A pharmaceutical sales manager typically has a wide range of responsibilities, which can include:

  • Monitoring competitor activities in the industry by reading industry publications and attending industry events
  • Reporting to executive management on the performance of the sales team
  • Attending educational seminars to stay up to date on trends in the industry
  • Working with marketing staff to develop targeted advertising campaigns to reach potential customers
  • Reviewing sales data to identify opportunities for improvement in sales force performance
  • Conducting training sessions for new hires to ensure that all employees have adequate knowledge about company products or services
  • Developing relationships with doctors, nurses, pharmacists, and other medical professionals who can influence prescribing decisions
  • Establishing goals for individual sales representatives to increase product awareness and promote brand loyalty among existing customers
  • Making regular calls to existing clients to ensure they are satisfied with the product or service they are receiving

Pharmaceutical Sales Manager Salary & Outlook

Pharmaceutical sales managers’ salaries vary depending on their level of education, years of experience, and the size and location of the company. They may also earn additional compensation in the form of commissions and bonuses.

  • Median Annual Salary: $95,000 ($45.67/hour)
  • Top 10% Annual Salary: $183,000 ($87.98/hour)

The employment of pharmaceutical sales managers is expected to grow at an average rate over the next decade.

Demand for pharmaceuticals and medical devices is projected to increase as healthcare costs rise and the population ages. As demand increases, pharmaceutical companies will need to hire more sales representatives to sell their products.

Pharmaceutical Sales Manager Job Requirements

A pharmaceutical sales manager typically needs the following qualifications:

Education: A bachelor’s degree is often a minimum requirement to become a pharmaceutical sales manager. Some of the most common majors for pharmaceutical sales managers are biology, chemistry, and business.

Training & Experience: Most pharmaceutical sales managers have at least five years of experience in the pharmaceutical industry. They may have started as a sales representative and worked their way up to a management position. They may have also worked in a managerial position before becoming a pharmaceutical sales manager.

Pharmaceutical sales managers can also receive on-the-job training in their roles. They may learn about the company’s products and services, the company’s policies and procedures, the company’s technology and the company’s clients. They may also receive training in leadership and management skills.

Certifications & Licenses: To succeed as a pharmaceutical sales manager, consider earning a professional certification. These credentials give you the knowledge and skills to manage this part of the pharmaceutical industry.

Pharmaceutical Sales Manager Skills

Pharmaceutical sales managers need the following skills in order to be successful:

Communication skills: Communication skills are essential for sales managers, as they are responsible for communicating with clients, colleagues and other stakeholders. As a pharmaceutical sales manager, you may be responsible for communicating with clients to explain the benefits of a product, as well as the risks of not using it. You may also be responsible for communicating with colleagues to discuss sales goals and strategies.

Product knowledge: Pharmaceutical sales managers should have extensive knowledge of the pharmaceutical products they represent. They should be able to explain the benefits of each product and how it can help patients. This can help them educate their sales teams and encourage them to sell more of the product.

Leadership skills: Leadership skills can help you motivate and direct your team to achieve goals. You can use your leadership skills to help your team develop strategies to meet sales quotas, improve customer service and increase productivity. Leadership skills can also help you delegate tasks and motivate your team to complete them.

Problem-solving skills: As a pharmaceutical sales manager, you may be responsible for managing a team of sales representatives. This means you may be responsible for providing guidance and direction to your team. Being able to solve problems is an important skill for a pharmaceutical sales manager. It can help you provide guidance to your team members and help them overcome challenges in their sales process.

Decision-making skills: As a pharmaceutical sales manager, you make many decisions throughout the day, including which pharmaceuticals to promote, which clients to visit and how to manage your team. Your ability to make effective decisions can help you make the best choices for your career.

Pharmaceutical Sales Manager Work Environment

Pharmaceutical sales managers work in a variety of settings, including pharmaceutical companies, hospitals, and clinics. They typically work full time and may have to travel frequently to meet with clients and attend conferences. Some pharmaceutical sales managers work from home, but most work in an office setting. The work can be stressful, and managers may have to work long hours to meet deadlines.

Pharmaceutical Sales Manager Trends

Here are three trends influencing how pharmaceutical sales managers work. Pharmaceutical sales managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Need for a More Personalized Sales Experience

The pharmaceutical industry is changing rapidly, and one of the most significant changes is the need for a more personalized sales experience.

Pharmaceutical sales managers will need to be able to provide a more personal touch in order to connect with potential customers. This means that they will need to be able to understand what each customer needs and how to meet those needs. In addition, they will need to be able to communicate effectively and build trust with their clients.

More Focus on Patient Advocacy

As patients become more involved in their own healthcare decisions, pharmaceutical sales managers will need to focus on patient advocacy.

This trend means that pharmaceutical sales managers will need to be well-versed in the products that they are selling. They will also need to be able to communicate the benefits of these products to patients in a way that is easy to understand. Additionally, pharmaceutical sales managers will need to be able to develop strong relationships with patients in order to keep them informed about new products and treatments.

Greater Use of Technology

The use of technology in the pharmaceutical industry is increasing at a rapid pace. This is being driven by the need for efficiency and accuracy in all aspects of the business.

As technology becomes more important, sales professionals will need to learn how to use it to their advantage. This includes learning how to use software to manage leads, track sales calls, and close deals. In addition, sales professionals will need to be comfortable using social media to connect with potential customers.

How to Become a Pharmaceutical Sales Manager

Pharmaceutical sales managers have a lot of responsibility. They need to be able to sell their products effectively, but they also need to understand the science behind them. They need to be able to manage a team and work with customers to find solutions that meet their needs.

To become a successful pharmaceutical sales manager, you need to have a strong background in both sales and marketing. You should also have a good understanding of the pharmaceutical industry and its regulations. And finally, you need to be able to communicate effectively with people at all levels of an organization.

Related: How to Write a Pharmaceutical Sales Manager Resume

Advancement Prospects

Advancement prospects for pharmaceutical sales managers are good. As the demand for prescription drugs continues to grow, the need for experienced sales managers will also increase. In addition, many pharmaceutical companies offer management training programs to help prepare employees for advancement. Promotions to regional or national sales manager positions are often based on a combination of factors, including experience, performance, and educational background.

Pharmaceutical Sales Manager Job Description Example

The pharmaceutical sales manager is responsible for the planning and execution of sales strategies for a portfolio of products in order to achieve sales targets. The pharmaceutical sales manager will also be responsible for managing a team of sales representatives and ensuring that they are properly trained and motivated. In addition, the pharmaceutical sales manager will be responsible for developing and maintaining relationships with key customers, such as physicians, pharmacists, and hospital administrators.

The ideal candidate for this position will have a minimum of five years of experience in pharmaceutical sales, as well as experience managing a sales team. In addition, the ideal candidate will have a proven track record of achieving sales targets.

Duties & Responsibilities

  • Achieve or exceed quarterly and annual sales targets by executing promotional plans
  • Develop and maintain strong relationships with key customers, including physicians, pharmacists, and hospital staff
  • Train and manage a team of pharmaceutical sales representatives to ensure they are knowledgeable about products and territory objectives
  • Monitor individual representative performance and provide feedback to maximize results
  • Plan and coordinate all aspects of territory management, including budgeting, forecasting, and call planning
  • Analyze customer data and develop strategies to increase market share in assigned territory
  • Understand the competitive landscape and develop strategies to effectively compete
  • Stay abreast of new products, indications, and safety information
  • Prepare and deliver presentations to customers and at company-sponsored events
  • Attend national and regional sales meetings as needed
  • Participate in the development of marketing materials and programs
  • Perform administrative tasks as needed, such as expense reports and timekeeping

Required Skills and Qualifications

  • Bachelor’s degree in business, marketing, or related field
  • 7-10 years of pharmaceutical sales experience with a proven track record of success
  • Experience managing and developing direct reports
  • Excellent communication, presentation, and negotiation skills
  • Strong analytical and problem-solving skills
  • Proficient in Microsoft Office, with aptitude to learn new software and systems

Preferred Skills and Qualifications

  • MBA or other advanced degree
  • Pharmaceutical sales management experience
  • Working knowledge of the healthcare industry and regulations
  • Familiarity with CRM software

Similar Jobs

Previous

What Does a Marketing Executive Do?

Back to Career Development
Next

What Does a Docketing Specialist Do?