High Paying Sales Jobs: 10+ Options That Pay Over $200K
Looking for a high paying sales job? This comprehensive guide covers some of the top sales roles where you can earn over $200,000 per year. If you’re short on time, here’s a quick answer: sales jobs like pharmaceutical sales, medical device sales, enterprise software sales, and sales engineering often pay total compensation packages over $200k.
In this detailed guide, we will cover over 10 different high paying sales careers across various industries like technology, finance, pharmaceuticals, and more. For each option, we outline the key requirements, responsibilities, average pay range, and growth opportunities so you can decide if it’s the right path for you.
Pharmaceutical Sales
Pharmaceutical sales is a lucrative field that offers high earning potential for sales professionals. These individuals are responsible for promoting and selling pharmaceutical products to healthcare professionals, such as doctors and pharmacists.
The pharmaceutical sales industry is highly competitive, but with the right skills and dedication, it is possible to excel in this field and earn a substantial income.
Overview & Day-to-Day
In the pharmaceutical sales role, professionals are typically assigned a specific territory or region to cover. They are responsible for building relationships with healthcare professionals, providing them with information about new drugs or medical devices, and persuading them to prescribe or use their products.
This often involves conducting product presentations, attending medical conferences, and staying up-to-date with the latest medical research and industry trends. Pharmaceutical sales representatives spend a significant amount of time on the road, visiting healthcare facilities and meeting with doctors and pharmacists.
Requirements & Qualifications
To succeed in pharmaceutical sales, candidates typically need a bachelor’s degree in a relevant field such as biology, chemistry, or business. Strong communication and interpersonal skills are essential, as sales representatives need to build rapport and trust with healthcare professionals.
Additionally, having a solid understanding of medical terminology and the ability to effectively communicate complex scientific information is crucial. Many pharmaceutical companies provide on-the-job training to new hires to ensure they have the necessary knowledge and skills to succeed in this role.
Average Salary & Commission
Pharmaceutical sales jobs are known for their high earning potential. According to the Bureau of Labor Statistics, the median annual wage for pharmaceutical and medical sales representatives was $79,680 in 2020.
However, top performers in the industry can earn well over $100,000 per year, with some earning in the six-figure range. In addition to a base salary, pharmaceutical sales professionals often receive commission or bonuses based on their sales performance, which can significantly increase their overall earnings.
Top Companies Hiring
Several top pharmaceutical companies are known for offering high-paying sales positions. Some of these include:
- Pfizer: Pfizer is a leading pharmaceutical company that offers a range of sales positions, including pharmaceutical sales representatives.
- Johnson & Johnson: Johnson & Johnson is a multinational corporation known for its pharmaceutical products. They frequently hire sales professionals to promote their products.
- Merck: Merck is a global healthcare company that offers various sales jobs, including positions in pharmaceutical sales.
- Novartis: Novartis is a Swiss multinational pharmaceutical company that often has openings for pharmaceutical sales representatives.
These companies, among others in the pharmaceutical industry, provide opportunities for sales professionals to earn a high income while working with innovative and life-saving products.
Medical Device Sales
Medical device sales is a lucrative and rewarding career option for individuals with a passion for healthcare and sales. These professionals are responsible for selling medical devices and equipment to hospitals, clinics, and other healthcare facilities.
They play a crucial role in helping healthcare providers deliver quality care to patients by ensuring they have access to the latest medical technologies.
Overview & Responsibilities
In medical device sales, professionals are tasked with building and maintaining relationships with healthcare providers, demonstrating the functionality of medical devices, and providing technical support to clients.
They are also responsible for staying up-to-date with industry trends and advancements in medical technology to effectively communicate the benefits of their products to potential buyers.
Required Skills & Background
Successful medical device sales representatives possess a unique blend of sales acumen, industry knowledge, and interpersonal skills. They must be excellent communicators, have a strong understanding of medical terminology, and be able to build rapport with healthcare professionals.
A background in sales or healthcare is often preferred, but not always required. Many companies provide comprehensive training programs to equip individuals with the necessary skills to excel in this field.
Salary Potential & Commission Structure
Medical device sales is known for its high earning potential. According to a study conducted by MedReps, the average total compensation for medical device sales professionals in the United States is over $150,000 per year, with top performers earning well over $200,000.
The compensation package typically includes a base salary, commission, bonuses, and benefits. The commission structure is often performance-based, incentivizing sales representatives to exceed targets and drive revenue.
Leading Employers
Several leading companies in the medical device industry offer lucrative sales opportunities. These include industry giants such as Medtronic, Johnson & Johnson, Stryker, and Abbott Laboratories. These companies are known for their cutting-edge medical devices and comprehensive training programs for their sales teams.
Exploring career opportunities with these industry leaders can provide individuals with a solid foundation for a successful and high-paying career in medical device sales.
If you’re interested in learning more about medical device sales, visit www.medreps.com/medical-device-sales for valuable insights and resources.
Enterprise Software Sales
Enterprise software sales is a lucrative field within the sales industry that offers high earning potential. Professionals in this role are responsible for selling software solutions to large organizations and businesses.
They work closely with clients to understand their needs and develop customized software solutions that meet their requirements.
Role & Responsibilities
The role of an enterprise software salesperson involves identifying potential clients, conducting market research, and building relationships with key decision-makers. They are responsible for delivering sales presentations, negotiating contracts, and closing deals.
Additionally, they provide ongoing support to clients, ensuring their satisfaction with the software solution.
Must-Have Sales Skills
To succeed in enterprise software sales, individuals must possess a combination of technical knowledge and strong sales skills. They should have a deep understanding of software solutions and be able to effectively communicate the benefits to clients.
Additionally, strong negotiation, relationship-building, and problem-solving skills are essential for success in this role.
Total Compensation Packages
Enterprise software sales professionals can expect to earn high salaries, often exceeding $200,000 per year. In addition to a base salary, many companies offer commission and bonus structures based on individual and team performance.
These compensation packages can also include benefits such as healthcare, retirement plans, and stock options.
Top Companies Hiring
Several top companies are known for hiring talented professionals in enterprise software sales. These companies include industry leaders such as Microsoft, Salesforce, Oracle, and SAP. These companies offer competitive compensation packages, extensive training programs, and opportunities for career growth.
If you’re interested in pursuing a high-paying sales job, consider exploring opportunities in enterprise software sales. With the right skills and experience, you can enjoy a rewarding career in this field.
Financial Sales
Financial sales is a lucrative field within the sales industry that offers high earning potential. Professionals in this role are responsible for selling financial products and services to individuals and businesses.
They work closely with clients to understand their financial needs and goals and provide them with suitable solutions. Financial sales professionals often work for banks, investment firms, insurance companies, and other financial institutions.
Overview of the Role
Financial sales professionals play a crucial role in helping clients make informed financial decisions. They provide expert advice on investment options, retirement planning, insurance policies, and other financial products.
These professionals build and maintain relationships with clients, providing ongoing support and guidance to help them achieve their financial objectives.
Essential Qualifications
To excel in financial sales, professionals typically need a strong background in finance or a related field. A bachelor’s degree in finance, economics, or business administration is often required. Additionally, obtaining relevant certifications such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) can enhance one’s credibility and marketability in this field.
Average Earnings
Financial sales professionals have the potential to earn significant income, with many earning well over $200,000 per year. However, earnings can vary based on experience, location, and the specific industry in which one works.
According to the Bureau of Labor Statistics, the median annual wage for securities, commodities, and financial services sales agents was $63,780 in May 2020. However, top performers in this field can earn six-figure salaries or even higher.
Major Firms Hiring
Several major firms actively hire financial sales professionals. These include well-known names in the financial services industry such as JP Morgan Chase, Goldman Sachs, Morgan Stanley, and Bank of America.
These firms offer extensive training and support to their sales teams and provide opportunities for career growth and advancement.
For more information on financial sales careers and job opportunities, you can visit the websites of these major firms:
Sales Engineering
What is a Sales Engineer?
A sales engineer is a professional who combines technical knowledge with sales skills to promote and sell complex technical products or services. They act as a bridge between the sales team and the engineering team, helping to understand customer requirements and providing technical solutions to meet those needs.
Sales engineers are often involved in the pre-sales process, working closely with potential customers to assess their needs and demonstrate how the product or service can meet those needs.
Key Skills Needed:
Technical Expertise:
A sales engineer must have a strong technical background and a deep understanding of the products or services they are selling. They need to be able to explain complex technical concepts in a way that is easy for customers to understand and relate to their specific needs.
This requires a combination of technical knowledge, problem-solving skills, and the ability to effectively communicate with both technical and non-technical audiences.
Sales and Communication Skills:
In addition to technical expertise, sales engineers also need strong sales and communication skills. They must be able to build rapport with customers, understand their needs, and tailor their sales pitch to address those needs.
They should be able to effectively communicate the value proposition of their product or service and convince potential customers of its benefits.
Average Salary and Commission:
Sales engineering is a highly lucrative field, with professionals often earning six-figure salaries. The average salary for a sales engineer is around $120,000 per year, but top performers can earn well over $200,000.
In addition to their base salary, sales engineers often receive commissions and bonuses based on their sales performance. This can significantly increase their overall earnings potential.
Top Employers:
There are numerous companies that hire sales engineers, ranging from technology giants to smaller startups. Some of the top employers in this field include companies like IBM, Microsoft, and Google. These companies offer competitive salaries, extensive training programs, and the opportunity to work on cutting-edge technologies.
Additionally, sales engineers can also find opportunities in industries such as manufacturing, healthcare, and telecommunications.
For more information on sales engineering as a career choice, you can visit websites like Bureau of Labor Statistics or Selling Power.
Conclusion
In summary, sales roles in booming industries like pharmaceuticals, medical devices, software, and finance represent some of the highest paying sales jobs available today. While each position requires its own unique background and skillset, they all offer the potential to earn a total compensation package over $200k per year.
Do your research, polish up your sales skills, and consider obtaining any required qualifications or certifications to open up the door to these lucrative career opportunities.
