Your Journey Through the Earnings Landscape of Medical Sales in Malaysia
Have you ever wondered about the intricate factors shaping the earnings of medical sales representatives in Malaysia?
The journey is much
like navigating the bustling streets of a vibrant city. Each twist and turn
reveals something new and interesting about the potential income and the
variables affecting it.
Navigating the High Paying States: Kuala Lumpur, Johor, and Pahang
Imagine yourself on a road trip across the prosperous
landscapes of Kuala Lumpur, Johor, and Pahang. These are the high-paying states
in Malaysia for medical sales representatives, akin to the buzzing business
districts where opportunities to score lucrative deals abound.
The Role of the Employing Company and Your Experience
Consider your employing company and accumulated experience as your trusted travel companions on this journey.
Larger companies, much like
luxury tour operators, are equipped with the resources to offer higher rewards.
On the other hand, your experience is like a seasoned guide, knowing the ins
and outs of the terrain, thus adding substantial value to your earnings.
Traversing the Terrain of Products Sold and Education
These factors contribute
significantly to a medical sales representative's income, each offering unique
challenges and rewards.
The Route of High-Margin Products
Imagine you're a merchant dealing in precious gems in a bustling marketplace.
The high-margin products, such as prescription drugs, are
these gems. As a medical sales representative, your ability to effectively sell
these products elevates your value, yielding higher income.
The Significance of a Solid Educational Foundation
Your educational background is like the reliable map in your backpack.
A bachelor's degree in a related field equips you with a deep
understanding of your merchandise, thereby enhancing your credibility and
effectiveness in the field.
The Destination: A Competitive Salary for a Rewarding Career
It's not just about the destination, but also about appreciating the diverse factors influencing your income along the way.
From high-paying states, the employing company, your experience, the products sold, to your educational background, each plays a pivotal role in carving your success story in this field.
Medical Sales Representative (also known as MSR or MR or Medical Rep) in Malaysia is a sophisticated and confident salesperson who know the medical jargon to promote prescription and over-the-counter medicines.
MRs are responsible for informing physicians about the
company's products and the patients dosed with them. They meet with health
professionals to describe the safety, efficacy and access of the product, as
well as the potential benefits and risks of each product.
At the crossroads between marketing and healthcare, MSRs
spend their long days traveling to healthcare providers to boost their
pharmaceutical companies' "revenues".
You can read more about MR job description ..
Medical sales are a popular career choice for professionals
as they often offer rapid career growth. If you decided to take up a medical
sales representative's position, you will find a lucrative job that helps
patients gain access to medicines to treat their ailments effectively.
So, without further ado, let’s us look at the numbers shall
we ..
Salary Of Medical Sales Representative In Malaysia
Salaries range from RM4,410 (lower than average) to RM5,000,
though the actual maximum salary is higher. The average salary for all
professions combined (pharmaceuticals, biotechnology, medical and medical
engineering) in Malaysia is RM7,500, granted to employees over 17 months.
The maximum salary is RM8,270 per month if a person passes
the 10-year experience mark, which means their salary is almost double their
starting salary amount but about half of those employed in pharmaceuticals and
biotechnology earn less, while the other half earn more.
Pharmaceutical and biotechnology professionals in Malaysia
are likely to see pay increases of about 10% over a 16-month period (the term
"annual salary increase" usually refers to an increase over a period
of 12 calendar months).
However, it is important to recognize that your workload is
always proportional to the amount on your pay check. Your performance and your
contribution to the success of your organization remains the most important
factor when it comes to how much and how often you receive an increase.
Your pay rise will depend on many factors and will vary from
person to person.
As outlined above, your salary will most likely go up at the
end of each calendar year.
Malaysia's male employees, who work in pharmaceuticals and
biotechnology, earn on average RM1,000 more a month than their female
counterparts.
Medical sales reps who are employed by smaller manufacturers
earn about RM119,933 annually with everything included (basic, sales
incentives, claims, bonuses, etc.), and reps who rose to the top of medical
sales potentially earn an average of RM200,455.00 per year.
For instance, Sun Pharma is one of Malaysia's largest
pharmaceutical companies with a strong presence in the pharmaceutical and
biotechnology industries. Lupin is a leading Indian pharmaceutical company
active in Active Pharmaceutical Ingredients (API).
We’ve spoken to a former Medical Rep in Kuala Lumpur,
Malaysia, to learn more about the work and the path to success in the industry.
He told us that after completing his studies, he worked as an account manager
at a large FMCG company and then moved to medical sales.
It is well known that higher education equals higher
salaries, but how much more money can a college degree contribute to your income as medical rep?
Changes in salary due to training vary drastically from one
location to another and also depend heavily on the occupational field.
Medical Sales Rep Salary Compared To Other Medical Profession In Malaysia
At present, a PRP can be assumed to receive a monthly salary of between RM2,500 and RM2,800, with monthly salaries ranging from RM3,000 to RM4,200.
While many PRPs feel frustrated by the lower salary compared to
the previous record of RM3,500, the current amount is equivalent to the average
salary of Malaysian employees.
According to the Malaysian Registered Pharmacy Association
(MPSA), once a trainee has completed a year of training, she can look forward
to a slightly increased income with a monthly base salary between RM2,800 and
RM3,500.
In the private sector, where pay systems are less rigid, the
amount depends on the pharmacist's specific skills.
It is not uncommon for pharmacists with PhDs to earn
five-figure salaries in the pharmaceutical industry. Doctorate in pharmacy and
can earn up to RM8,000 or more, depending on the years of service.
According to the latest figures from the Ministry of Health
(MOH), the average annual salary of a doctor in Malaysia in 2015 was RM122,107.00.
Conclusion To Medical Sales Representative Salary In Malaysia
1. Base salary depends on the size of manufacturer that
employ a MR
2. Typically, salary increase on an annual basis
3. The more experience the rep, the higher the pay check
4. In certain cases, MSR earn more than other related
medical profession
Disclaimer: the figures presented here are accurate as of the time this article is written. The recent pandemic was not factored in for the calculation. An update will ensue where necessary. Check under ‘Medical Sales’ label on this blog for more useful information.
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