“Despite the changes in the [medical sales] industry, professionals in every sector of medical sales continue to see increased opportunities and salaries. - Karyn Mullins
Alpharetta, GA (PRWEB) June 14, 2016
A new report by MedReps (http://www.medreps.com/), a job board for medical sales representatives, found that medical sales professionals who sell to hospitals, specifically surgery, earn the highest salaries in the field. The 2016 Salary Survey also found that professionals who work in biotech are the top-earners in medical sales, with an average annual salary of $165,028. The recently released survey broke down salary by product classification, experience, company size, and other influential factors.
“As the healthcare industry continues to evolve, biotech and surgical sales professionals are in higher demand,” said Karyn Mullins, Executive Vice President and General Manager at MedReps.com. “Despite the changes in the industry, professionals in every sector of medical sales continue to see increased opportunities and salaries.”
Notable findings from the 2016 Salary Survey included the following:
- Overall salaries in medical sales are high. On average, medical sales representatives earn an income of $145,457, with an average base of $88,038.
- Medical sales professionals employed by manufacturers make the most. On average, professionals employed by large manufacturers earn $157,793. No matter the size of the company, manufacturers pay the highest salaries.
- Experience is important, but only to a certain extent. Those with 20+ years of experience earn the highest average medical sales salary at $165,735. However, those in their 40s earn the highest incomes at $153,844. This seems to be a sweet spot for professionals where they have 20+ years of experience, but aren’t impacted by age discrimination, yet.
- Men dominate the medical sales field. On average, women earn just 80 percent of the total income for men. However, women are more likely to work with products with lower commissions, such as pharma. In addition, women make up just 14 percent of the highest paying job titles.
- More travel means more money. Medical sales professionals who travel 50 percent of time earn the highest incomes at $167,061, compared with $125,344 for those who don’t travel at all.
Most medical sales professionals are satisfied with their salary and their job. Among respondents, 78 percent are very or somewhat satisfied with their overall job, In addition, 75 percent said they are very or somewhat satisfied with their income.
“Medical sales jobs aren’t easy, but the rewards are great,” Mullins said. “We hope job seekers, professionals, and employers can use this data to make the best decisions for their careers and organizations. The earning potential is higher than ever, making it an exciting time to be in the industry.”
This survey analyzed data collected from 3,295 professionals currently working in medical sales. To view the full survey, click here.
MedReps is owned and operated by Healthcare Staffing Technologies. As the leading job site in its niche, MedReps gives members access to the most sought after medical sales jobs and pharmaceutical sales jobs on the web. Members have access to approximately 10,000 jobs and can apply directly to the recruiters and hiring managers who post them. For more information on the No. 1 site for medical sales, marketing, and management careers, please visit MedReps.com.