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Pharmaceutical Sales feat. Stephanie Alexander
269 Plays3 years ago
Today, we’re discussing Pharmaceutical Sales. I’m imagine you’ve wondered, what do they talk about with the doctor? Well I’ve learned that they are critical for promoting innovation in medicine. They work hard to analyze complicated disease states and illuminate key differences in medicine for healthcare professionals that will lead to better long-term outcomes for you, the patient. They have a continuous thirst for knowledge and many are passion driven by family and friends who dealt with pain from an illness.
Today, I am elated to speak with Stephanie Alexander, a 15 year veteran in Pharma Sales. She started off as a sales rep and over her career has served in a wide range of roles that include National Trainer, District Manager & most recently Associate Director working on groundbreaking innovation in genetic mutations. She’s loved the opportunities afforded to her through her career and now has evolved into a Career Coach helping others see the benefits of using their talents in pharma sales. She’s here to pull the curtain back and demystify what these people in suits do.
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Transcript
Setting the Scene: NYC Vibes and Podcast Introduction
00:00:00
Speaker
It's fall in New York City. I'm walking down Fifth Avenue on the Upper East Side. I have on my cute cranberry suit. I am wearing flats since I had to walk a few blocks, but I have a tote bag with my heels inside and I'm heading to a lunch. At one of my most important private practices, I am checking my phone to make sure that the food has been delivered.
00:00:25
Speaker
And I walk a little bit slower just to enjoy the weather in the view of Central Park. I'm thinking through my mental checklist to make sure I have everything I need. And I have on sunglasses. I'm not smiling too much because I'm in New York and I don't want to come across as a tourist. But I have a little bit of a smile on my face because I feel so grateful to have a job that allows me the freedom to bounce around my dream city and help people all day.
Career Spotlight: Pharmaceutical Sales
00:00:55
Speaker
What's up world? I am your host, VA, and this is Take Your Homeboy to Work Day Podcast, your favorite podcast to learn about careers. Here's what you can expect by tuning in. Each episode, I'll invite a guest to share their career journey from a youth in school to their rise as a professional. We'll learn the nuts and bolts of jobs, and I'll ask how what they do shows up in our everyday lives.
00:01:25
Speaker
I'll have them open up about how they find fulfillment through their work. So for anyone interested in hearing the firsthand experience of a specific career, these conversations are your launching pad. Today, we're discussing pharmaceutical sales. We've all seen them come in in their suits while we're in the waiting room. And I imagine you've wondered, what do they talk about with the doctor? Well, I've learned that they are critical for promoting innovation in medicine.
00:01:54
Speaker
They work hard to analyze complicated disease states and then illuminate key differences in medicine for healthcare professionals that will ultimately lead to better long-term outcomes for you, the patient. They have a continuous thirst for knowledge and many are passion driven by family and friends who dealt with pain from an illness.
Guest Introduction: Stephanie Alexander's Journey
00:02:15
Speaker
So today I am elated to speak with Stephanie Alexander, a 15 year veteran in pharma sales.
00:02:22
Speaker
She started off as a sales rep and over her career has served in a wide range of roles that include national trainer, district manager, and most recently associate director, working on groundbreaking innovation and genetic mutations. She's loved the opportunities afforded to her through her career and now has evolved into a career coach, helping others see the benefits of using their talents in pharma sales.
00:02:48
Speaker
She's here to pull the curtain back and demystify what these people in suits do. It's a pleasure to learn and speak with you today. Welcome. Thank you so much. I'm so happy to be here. And we're happy to have you on. Thank you for joining.
Inside Pharma Sales: Roles and Responsibilities
00:03:03
Speaker
So my first question, I gave an introduction of what a pharma sales rep is, but I love to hear it in your own terms. What is a pharma sales rep?
00:03:12
Speaker
Well, you described it really well, and I would add to that that a pharmaceutical sales rep is a business owner, except for you don't truly own the business. You work under a larger organization.
00:03:27
Speaker
So a pharma sales rep does everything from educate the doctor, nurses, and staff about the drug or a combination of drugs that we're responsible for promoting. We talk about everything from safety to efficacy, meaning what the drug actually does, dosing, and we even talk about the financial side. So the patient assistance programs that are available
00:03:55
Speaker
to patients so that they can pay a lower price. We talk about access with insurance companies and everything in between. In addition to that, we get to flex our business ownership muscle because we have to manage a budget
00:04:12
Speaker
We have to prioritize the accounts and make sure that we are servicing each one in the way that they need. Typically, you're responsible for a territory on your own or with one or two other partners. And so in that way, I think pharma sales is very similar to business ownership, but it's a great combination of having to know about
00:04:41
Speaker
scientific information, business information, as well as people skills. So it's a really great career to be in if you like variety. Yeah, wow. Those sound like a lot of responsibilities and you really have to have a full tool belt to be successful. What drew you to this industry career? How did you learn about it? Who introduced you to pharma sales?
00:05:08
Speaker
Well, I learned about it from my friend Rashida from FAMU.
00:05:13
Speaker
You know, Rashida and she actually came into our pharmaceutical firm. Sorry. She actually came into our professional development class after completing a pharmaceutical internship. She had a chance to work in New York city, which was my dream city since being a teenager. And she told us about the amazing apartment she got to live in for free.
00:05:38
Speaker
The car she got to drive around, the lunches she got to have, and most importantly, the pay. And in my college brain, I just heard her saying she basically went around New York City talking to people all day and getting paid. So to me, that was enough. I was intrigued.
00:05:58
Speaker
I had to go up to her and talk after the class and asked her some more questions. Ultimately, she helped connect me with the same company that she started with. And that's how I got my first internship. So my introduction to the industry was through an internship while I was still a student at Florida A&M University.
00:06:23
Speaker
Wow. Yeah. All of those perks definitely sound alluring so I can totally understand. And I remember a couple of my friends having those jobs too and being in awe of all of the perks that they received. So I totally understand. One of the things I want to do early on
00:06:41
Speaker
Yeah, there's a lot of questions about, you know, is college worth it these days? What's the payout if I invest this amount of time and money into it? So one of the questions I love to ask early on is how much can you make in this role as soon as you graduate?
Compensation Insights for Pharma Sales
00:06:56
Speaker
So if you would, if you would like to share your salary or the range, what was the salary? How much did you make when you first graduated and went into this job?
00:07:06
Speaker
Yes, definitely. So when I first graduated and went into this job, the base salary for me was 58K with a target bonus of 18K. So I still have my offer letter. And in pharma, you are offered a package that they call total compensation. So my total compensation was $76,000 if I did what I was supposed to do and hit my goal.
00:07:35
Speaker
that was back in 2008. So today, the range for a brand new graduate and most pharma companies do require a bachelor's degree. The range can go from anywhere from 50,000 to 70 or even 75,000 base. And then your target bonus, meaning if you hit your goal at 100% to goal, your target bonus can range from anywhere from
00:08:04
Speaker
18k to 90k and that's nine zero. And I've seen reps who have graduated gotten into pharma done really well and have made over 100k one or two years out of college. So I would say college is worth it if that's something that you think you're interested in. And it's because the pharma companies do require a bachelor's degree.
00:08:29
Speaker
Yeah. Wow. I'm intrigued. I'm intrigued. That sounds very worthwhile of my time and energy. So thank you for sharing that. I know that could be a personal question for some, but thank you for sharing. Definitely. And if I may add just one little tidbit about salaries, I think it's important as people are looking to get into a career to share the salaries because that's the only way we'll get pay equity. So my question.
00:08:59
Speaker
Yeah, I'm with you on that 100%. I know a lot of people like to keep that to themselves, but I've always shared with my peers because it's us versus them. It's the workers versus the owners. And the only way to level the playing field is for us to share with each other. So I'm with you on that.
00:09:18
Speaker
So I want to ask a next few questions about why the job is important. So we live in a capitalist first society here being in America where money is most important. So, you know, if you're making 60K coming out of college for the job, you know, the
00:09:39
Speaker
the payout for the company has to be significantly greater. So how does this pharma sales job make money for your company?
Impact of Pharma Sales on Healthcare and Revenue
00:09:50
Speaker
Absolutely. Well, the pharma sales job is pretty directly related to the company's revenue. But specifically, pharmaceutical sales reps speak to physicians and healthcare professionals about the benefits of the drug.
00:10:06
Speaker
If the doctor feels that the drug is right for their patient, they prescribe it and the patient goes and picks it up at the pharmacy. So it's almost a sort of three tier system, the pharma rep to the doctor, the doctor to the patient, and then the patient to the pharmacy. When the pharmacy runs out of it, they order more from the distributor. The more demand, the more that the pharmaceutical company sells and the more money they make.
00:10:36
Speaker
So it's a pretty direct correlation with how we do as sales reps in the field and how the company does. Got it. Makes sense. Yeah. You're out there generating demand. So it makes sense and have a direct pie because you're talking, you know, right to the doctor. So awesome.
00:10:53
Speaker
And I guess next question, what impact does your job have on society? So if I'm somebody who wasn't aware of what a pharma sales rep is, how does what you do, the work that you do, how does that manifest itself for the everyday person? How did they interact with the output of your job?
00:11:19
Speaker
Absolutely. Well, we help health care professionals connect patients to life changing and in some cases, life saving medications. And I have personally seen and heard testimonials from patients about how a drug that I sell
00:11:37
Speaker
that my doctor has prescribed has drastically improved their quality of life, or even extended their life. Well, in my most recent role, we launched a drug for a rare overgrowth disorder, which was a genetic mutation, like you mentioned, and it can be debilitating, it often affects children. And that's because people don't live long enough to
00:12:02
Speaker
have it affect them as an adult. They don't live long enough to be adults. And so this drug just came out in April, but of course people have been in clinical trials for a couple of years. We watched a video that showed a little girl who was confined to a wheelchair because of the spinal deformity that this condition created for her. But after treatment with this new drug for over a year, but she was treated with this drug
00:12:32
Speaker
she was able to get up and walk without help. So I've definitely seen firsthand how new drugs and innovative medications can really change people's lives and directly correlated to the reps talking to the doctors and the doctors talking to the patients.
00:12:57
Speaker
Because of HIPAA laws, we are not allowed to talk to patients. So there is a misconception that drug reps just go around like, hey, anybody want to try a new drug? But it's really not like that at all. But it's very rewarding when you talk to a doctor about something. They believe in it. They talk to the appropriate patient. And it really makes a difference in the patient's lives and their caretakers and their family's life.
00:13:26
Speaker
Yeah. Wow. That's, that type of work sounds very enriching. So thank you for sharing that example. Yeah. And I also kind of chuckled when you said, I know there is the myth that sales reps walk into a waiting room and try to influence the patients while they're in there. And that's like the quickest way to get arrested, you know, so calling it out that
00:13:51
Speaker
It's all about working with the healthcare professionals, the doctors, the nurses, the staff, so that they can give the appropriate information to the patient. So that was a great story all around. Yeah. Yeah, definitely.
00:14:05
Speaker
I want to go abstract here a little bit. So we've talked about like the direct one-to-one of what your job is. But let's say you had to explain your job by
Day in the Life of a Pharma Sales Rep
00:14:21
Speaker
describing a picture or scene of you doing it. So you had to tell an artist to commemorate your career with a painting. What would that painting look like? I love this question.
00:14:34
Speaker
And of course I listened to season one, so I heard all the great pictures that people painted with their words. So here goes mine. So it's fall in New York City. I'm walking down Fifth Avenue on the Upper East Side. I have on my cute cranberry suit. I am wearing flats.
00:14:56
Speaker
Since I had to walk a few blocks, but I have a tote bag with my heels inside and I'm heading to a lunch at one of my most important private practices. I am checking my phone to make sure that the food has been delivered and I walk a little bit slower just to enjoy the weather in the view of Central Park. I'm thinking through my mental checklist, make sure I have everything I need.
00:15:20
Speaker
And I have on sunglasses. I'm not smiling too much because I'm in New York and I don't want to, you know, come across as a tourist, but I have a little bit of a smile on my face because I feel so grateful to have a job that allows me the freedom to bounce around my dream city and help people all day. So that's my picture.
00:15:41
Speaker
Awesome. Great description. I can see the artist now putting like a thought bubble, like one of the cartoons putting a thought bubble above your head with your checklist and everything. So that's a great vision. I totally know what you're describing. Thank you. Thank you very much. You're welcome. You're welcome. So you've been in this job for 15 years. What's been your proudest achievement?
Mentorship Success in Pharma Sales
00:16:08
Speaker
That's a great question. So I've been in the industry for a while, but I've had a couple different jobs. And my most proud achievement was from when I was a district manager. And I hired a sales rep right out of college, a young black woman who majored in biology. So she did have a science background, but was
00:16:32
Speaker
no work experience, no internships, but she was just someone with a whole lot of potential. But I ended up hiring her onto my team and she just listened and approached her territory with intention, curiosity. She had a really great work ethic.
00:16:55
Speaker
And she won what we call President's Club, which basically means the top 10% of each sales force in a year gets to go on an amazing trip, wins a great money,
00:17:10
Speaker
And this young woman not only won it her first year and she beat out several other reps who had way more tenure than her. She won it two years in a row. So it's not a fluke. She was just someone that I feel like someone else may not have given her a chance, but I just saw something in her that I thought, you know, she could be great and she is great. And so her winning that president's club
00:17:39
Speaker
The first one, not so much, but when she won the second one, I was just so proud and I felt really happy that I was able to just help her blossom into the professional that she is. And even to this day, now she works for a specialty pharmaceutical company, um, doing really well. I think she might've just turned 30 and she's been making really good money for years now. So.
00:18:09
Speaker
She was my most proud achievement, just seeing her achieve that President's Club Award two years in a row.
00:18:19
Speaker
That's awesome, that's awesome. I guess those type of experiences are what have led to your evolution into a career coach now.
Transition to Career Coaching and Diversity Focus
00:18:28
Speaker
I guess could you share a little bit more about that transition and how you made it, why you made the decision, what you're looking to accomplish now as you're looking to help others get into the field? Yes, definitely. So something about pharma is that it's sort of a gate kept industry. And what I mean by that is
00:18:49
Speaker
It's really difficult to get in unless you know someone. But once you get in, your skills and experiences can translate into making you a successful rep. And so over the years, especially when I was a trainer, I got a chance to interview lots of people who didn't have experience and some who did. And I noticed a theme among the people who moved forward and ultimately got jobs.
00:19:16
Speaker
was that they were able to translate their skills and experiences to the role by telling their story well. And I just want to make sure that more people like me and you and people that look like the community that they serve are able to get in because it has typically been an old boys club, a white boys club. I don't know if you want to call it, but it's not as diverse as it should be.
00:19:46
Speaker
Right. It's not as diverse as it should be. So I have always been called on by people asking me, like, can you look over my resume? Or can you practice with me for this interview? And I realized during the pandemic that I should create a course where I can help people that I might not know personally get into pharma. So that's how
00:20:13
Speaker
It came about. It came about naturally because I really like talking to people, helping them just put their experience into a package to present to a hiring manager. So that's how that came about. Awesome. Awesome. Awesome. And, uh, you know, I'll give you a quick second for shameless plug. Where can somebody learn more about your career coaching?
00:20:38
Speaker
Oh, yes. Well, thank you. My course is called Stand Out to Break In, and it's a combination of group coaching and one-on-one interview practice. I do everything from revamp your resume, prep you for interviews, and practice with you. I also provide ongoing placement support and referrals because my network is pretty extensive at this point.
00:21:07
Speaker
So the course, you can find out all about the course on stephanielexander.podia.com. So thank you for that.
00:21:20
Speaker
You're welcome. You're welcome. And that's Stephanie with a PH for the listeners. PH, yes. Awesome. Well, thank you for sharing that. That's your transition, your evolution, how you want to help people is one of the reasons I wanted to have you on the show. So thank you for sharing more about the work you're doing to help other people find purpose and passion in what they do.
00:21:46
Speaker
Of course. So I am going to switch things a little bit up with the next two questions. We've talked a lot about the good with the job and a lot of the positives.
00:21:59
Speaker
But with anything, there's also the other side where they can get bad or nasty or ugly. So for the next two questions, or this next question, what has been a watch out? So for somebody coming into this industry, what's a caution, a yellow flag that you would give them just to not have them blindsided?
Ethical Challenges in Pharma Sales
00:22:25
Speaker
So like we've talked a lot about the good, but what's the bad and ugly side of this job or industry?
00:22:29
Speaker
that you can give us a watch out. I would say off-label promotion and trying to push a drug that's not appropriate for a certain patient.
00:22:44
Speaker
What I mean by that is what we talked about a little bit earlier, pharma's reputation suffers to this day because of a small group of people who put profits ahead of everything else. So anything that has to do with bribery, and bribery doesn't even have to mean money, bribery can mean
00:23:07
Speaker
I'm sending you nice lunches every day and I'm not coming in to talk to you about the drug. Anything that seems off, and it's literally called off label because the FDA approves a label for a drug, if you as a rep go in and
00:23:26
Speaker
say something that's not on that label, you can be fined, including monetary fines and even jail time. The vast majority of people do follow the rules, but every now and then you will come across a rep who is questionable, saying things that are a little bit off. So that's something I would caution anyone coming from another industry
00:23:50
Speaker
There's no gray area when it comes to talking about medications because, I mean, this is people's lives that are at stake. So the best advice I can give is if you ever don't know the answer to a question,
00:24:08
Speaker
Don't make anything up. Ask someone in your medical department because it's better to be safe than sorry. And I actually worked with a guy when I first started who was fired. And I believe he went to jail for a little while, but he was getting a doctor to prescribe drugs to people who were deceased. Just so his numbers could look good. Yes. So it's real in the field. Don't play.
00:24:38
Speaker
Don't play about that stuff. No sales contest or incentive is worth getting fired or going to jail or even worse, endangering someone's life. So that's the big watch out in pharma. Yeah. And that's, that's not even smart because that seems like that's something easy to prove. This person isn't alive anymore. Like, wow, they deserve to go. Well, yeah. Oh yeah.
00:25:05
Speaker
And I'm going to ask you to look into the future with this next question. So given technological advances and even the pandemic, how that's changed a lot of careers, how do you see this job evolving?
Pandemic Effects and Future of Pharma Sales
00:25:20
Speaker
That's a great question. Well, I've already seen a shift during the pandemic from in-person interactions, meaning
00:25:30
Speaker
internal meetings, like we would go to big sales meetings in Orlando or Vegas, to now all of our meetings have been online for the past two and a half years. And also interacting with physicians and healthcare professionals, basically doing Zoom meetings as opposed to walking into their office waiting and talking to them there.
00:25:57
Speaker
I've actually really liked this new model because it has allowed me in my most recent role where I covered the entire Northeast, I could have maybe an in-person meeting with my an office in New York that morning. And then I could have a virtual meeting with my doctors in Boston on the same day. So the more comfortable people are with
00:26:23
Speaker
interacting virtually, virtual selling, the better off you'll be in this role. Some people who have been in the industry for a long time say that they don't like this new way, but I don't think it'll ever go back to 100% in person. So that's the biggest thing that I've seen change with technology in the pandemic. Gotcha. Makes sense. Thank you.
00:26:52
Speaker
And if you could look back, you've been in this career for 15 years now, have been very successful, done a wide range of roles.
Personal Well-being vs Corporate Loyalty
00:27:00
Speaker
If you could look back to when you were 24 and 25 starting out, if you could give advice to your younger self, what advice would that be? That missing that team dinner is not going to matter six months from now. You don't have to go out and schmooze and
00:27:20
Speaker
drink with these people outside of office hours if you don't want to. It's not going to matter. There's no loyalty in corporate America, and that sounds really harsh, but the sooner you realize it, the freer you'll feel. If you drop dead tomorrow, they will replace you. Not in a mean way, but it's just the facts.
00:27:49
Speaker
And finally, in pharma especially, it's important to keep good documentation of everything. So your accomplishments, no one is really out there in the field with you the majority of the time. So no one is going to know the great things you're doing. So if you're interested in developing or getting promoted, it's always a really good idea to document everything that you're doing. That also goes with documenting
00:28:19
Speaker
things that may come up as issues. So any sort of discrimination if you're, if I'm talking to my 22 year old black girl cell, those slick little comments that a doctor might have said to me or a peer might have said to me, keep track of that in a document you and always speak to someone else about it. Most pharmaceutical companies have no tolerance policies for discrimination, or
00:28:47
Speaker
any sort of inappropriate comment, but it's important to know your rights and speak up for yourself, document, document, document. They don't want no smoke. I learned that way too late, but they don't want no smoke. So make sure you have documentation to support anything because people are crazy.
00:29:09
Speaker
Awesome advice. There's no reason for anybody to accept any type of verbal abuse or even sideways. There's no reason for that. And I also love how you said the first thing you shared about that, you know, going to the dinners and aren't always mandatory. And if you need time to focus on yourself, rest yourself or spend time with your friends and family instead of that dinner, then do that. So awesome advice. And thank you for sharing. Definitely.
00:29:38
Speaker
So my last question, when is the last, well second to last, when is the last time you fell out laughing while you were working?
Humor and Personal Tastes
00:29:52
Speaker
The last time I fell out laughing. Stumped you on that one.
00:30:03
Speaker
I know, I was so prepared with, let's see, hmm, the last time I fell out laughing. Probably, oh, oh, that's a good one. You did stump me. Hold on, I can take the one. We have to take it. Okay.
00:30:37
Speaker
Oh, gosh. The last time I fell out laughing, this is kind of nasty. So if you want me to do another one, I can. Well, if you already did a snappy, let's find another one. Remember, I'm just... I do my own editing, so it's hard work. Okay.
00:31:06
Speaker
The last time I felt out laughing while working was when my screen froze during a team's meeting. And the face that one of the people was making in response to someone else talking was just really funny. It was just written all over their face that they were completely over it.
00:31:34
Speaker
And that the person talking was just like shooting smoke. It was full of it. But the computer seemed to know that we all needed a laugh. And it froze at the perfect time where this person's face was just like really like stop talking. Were you able to get a screenshot of that or pull up your phone and take a picture of it?
00:32:01
Speaker
Yes. And I did a side-by-side with this comedian. I don't remember the comedian's name, but it looks exactly like the comedian's face. So yes, I did get a screenshot. I can send it to you later. All right, cool, cool. That does sound pretty funny, especially when you know the person talking is just blowing smoke, as you said. So I can imagine. Yep.
00:32:26
Speaker
And so finally, I always love to ask a question where the audience can learn a little bit about the guests personally, who they are. So I know you consider yourself a budding comedian. You love watching standups. Who are your top three favorite standup comedians? Okay. Number one, Mike X. Gotcha. Number two.
00:33:00
Speaker
Number two, Eliza Bleschinger. She's hilarious. That's the elder millennial. Yes. Gotcha. Okay. She's so funny. Number three. This is tough because there's so many good ones. I know, right?
00:33:35
Speaker
I guess, you know, there's no right or wrong answer, you know, it's like, you know, it's like music one day, these artists will be your favorite. And the next day, these artists will be your favorite, just the principal, you know, the experiences. So nobody's gonna hold you to these top three, you know, five years down the road.
00:33:55
Speaker
Oh, you're right. You know what? Yamanica Saunders. I don't know why that was so hard for me. Awesome.
Encouragement for Aspiring Pharma Professionals
00:34:04
Speaker
Well, Stephanie, I appreciated you coming on to the show and sharing your journey.
00:34:09
Speaker
I hope the audience, well, I know that the audience learned a lot more about what a pharma sales rep is and the impact that you actually have on their day-to-day lives and on patients' lives. So thank you so much. Is there anything you would like to leave the audience with before we go? If you're interested in a Roland Pharma, I would love to speak with you. So again, that's stephanielexander.podia.com. And this is such a brilliant concept.
00:34:39
Speaker
So I would encourage you to listen through all of the episodes and learn firsthand what people do because the recruiters might not tell you the full story, but this is the best podcast that I've ever heard of that really gives you insight into what people actually do. So thank you so much for having me as a guest. You're welcome. And I appreciate you saying that about the podcast. Thank you and have a great day. Thank you. You too.