When analytically optimising the control strategy in wave energy converters which use a point absorber, the efficiency aspect is generally neglected. The results presented in this paper provide an analytical expression for the mean harvested electrical power in non-ideal efficiency situations. These have been derived under the assumptions of monochromatic incoming waves and linear system behaviour. This allows to establish the power factor of a system with non-ideal efficiency. The locus of the optimal reactive control parameters is then studied and an alternative method of representation is developed to model the optimal control parameters. Ultimately we present a simple method of choosing optimal control parameters for any combination of efficiency and wave frequency.