Sales and Marketing Jobs in the Life Sciences Industry: a Comprehensive Guide

When thinking about sales and marketing jobs, the first thing that comes to mind for many is a position at a traditional sales or marketing firm. But those familiar with sales know that the sales field is broad, and it intersects with almost every other industry. 

The life sciences industry is expected to grow at an annual rate of 7.5% to 8.4% in the next five years, according to a report published by Grand Review Research. With that growth, there will continue to be an uptick in job openings for sales and marketing positions. 

Sales and Marketing Jobs in the Life Sciences Industry

But what are the advantages of using your sales and marketing expertise to benefit the life sciences industry? And how will your job differ from a role at a traditional sales or marketing firm? To help answer those questions and more, we’ve compiled a guide to sales and marketing jobs in the life sciences industry. 

Positions Available

Though there are ample positions available in the life sciences industry worldwide, sales and marketing professionals in the U.S. have a unique advantage: the U.S. is one of two countries in which drug makers are allowed to market prescription drugs directly to consumers. This encompasses all types of advertising, including commercials and social media ads.

This is one reason marketing and sales positions in the life sciences industry, particularly in pharma and biotech, are so popular. Once the drugs and therapies are finished with development and testing and are approved by a regulatory agency, they go on the market. This is when the sales and marketing teams come in. Their primary role is to market the drugs, both to consumers and to the physicians who prescribe the drugs. 

As for the job openings available, the life sciences industry typically mirrors that of most other major industries in the U.S. From managers to consultants, professionals looking to make the switch to life sciences will generally be able to use the skills and experience they already have. 

Salary and Compensation

The life sciences industry is known for its competitive compensation, and average salaries have only increased year after year. In fact, average salaries for full-time employees increased 8% from 2021 to 2022, according to BioSpace’s 2022 Salary Report.

Fortunately, that seems to carry over into more traditional sales and marketing roles. The average compensation for a sales representative in the U.S. is $73,500 per year excluding bonuses, according to a report by U.S. News. In contrast, the average annual salary of a sales representative in the life sciences field is $77,291, with an average bonus or commission of $41,667. 

Here’s a look at some of the highest-paid life sciences sales and marketing positions in the U.S., according to BioSpace’s 2022 Life Sciences Salary Report: 

Position	Average Annual Salary	Average Bonus/Commission
Executive	$239,023	$73,769
Marketing Director	$I54,204	$29,32I
Sales Director	$I50,474	$I06,765
Senior/Territory Manager	$I3I,524	$37,889
Sales Manager	$I24,888	$35,585
Sales Specialist	$I2I,833	$45,5I4
Marketing Manager	$I02,560	$I7,285
Sales Representative	$77,29I	$4I,667

The Takeaway

For those in sales or marketing who are on the hunt for a new job, the life sciences industry is not only a viable option, but it’s a smart one as well. If you’re looking for a role with competitive pay, high demand and increased job security, the life sciences industry may just be the place for you.