Base Salaries Drop as Total Income Rises in Medical Sales, Survey Finds
ALPHARETTA, Ga. (PRWEB) June 11, 2018 -- A new report by MedReps (http://www.medreps.com/), a job board for medical sales representatives, found that the average medical sales rep total compensation is $149,544, with an average base of $92,698 and an average bonus/commission of $63,318.
The 2018 8th Annual Medical Sales Salary Report also revealed that professionals who work in capital equipment/durable medical equipment are the top earners in medical sales, with an average annual salary of $167,554.
In addition to job type, income was broken down by product sold, market segment, employer size, and other influential factors.
“We’ve noticed a slight downward shift in base salaries this year in most medical sales categories. However, thanks to increased bonuses and commissions, that isn’t stopping reps from improving their total compensation,” said Karyn Mullins, president at MedReps. “Additionally, we’ve found reps are happier than ever, both in income and overall job satisfaction.”
Notable findings from the 2018 Salary Report included the following:
- Medical sales reps are prepared to take on change. Pending legislation can be intimidating in the medical sales field, but more than half (57 percent) of all respondents do not think recent or pending legislation will impact their earnings.
- Reps stepping into the OR are seeing the benefits. On average, professionals in the surgery/OR market segment take home the highest average total compensation of $166,819.
- Small employers are staying strong. Small employers are trailing only slightly behind medium and large-sized companies when it comes to average base salaries.
- Money isn’t everything. The majority of medical sales representatives say work-life balance is more important than money.
“Medical sales is a challenging and competitive field. But it’s also extremely rewarding for those who are willing to put in the time and effort,” Mullins said. “With impending legislation and controversial products in the here and now, our hope is that this data gives job seekers, professionals, and employers the information they need to make informed career and organizational decisions.”
This survey analyzed data collected from 2,793 professionals currently working in medical sales. To view the full survey, click here.
About MedReps
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.
Katie Cook, MedReps.com, http://www.medreps.com/?sc_cid=partners:1-prweb-BPW3-MRhome4-1.7.14, +1 8146024701, [email protected]
Share this article