ALPHARETTA, Ga., May 14, 2020 /PRNewswire-PRWeb/ -- The annual salary report by MedReps (http://www.medreps.com/), a job board for medical sales representatives, found the 2019 average medical sales rep total compensation increased by $12,000 over the previous year. However, these encouraging 2020 findings risk being shadowed by uncertainties amid the COVID-19 global crisis.
The MedReps 2020 Salary Survey revealed yet again there's high earning potential for medical sales reps, especially those in the biotech field. These representatives reported an 11% year-over-year increase with the highest total compensation of $198,282.
For the purpose of the survey, MedReps analyzed salary data by product classification, job title, company size, and other influential factors such as travel and state.
"This year's respondents took the survey regarding their 2019 salaries just as the first COVID-19 shutdowns occurred in the U.S.," said Karyn Mullins, President at MedReps. "Medical sales reps revealed that they ended 2019 on a high note, and despite the many uncertainties presented at the start of 2020, they're prepared to persevere."
Some notable findings from MedReps' 2020 Medical Sales Salary Report include:
- The majority of medical sales professionals believe the COVID-19 pandemic will have a negative effect on income, yet half of respondents still think they will earn more in 2020 than they did in 2019
- Sales professionals selling Health IT and diagnostic imaging reported some of the highest total incomes
- Those who earn commissions only (no base salary) earn more than twice the total income of those who receive a base salary only (no commissions)
"Medical sales representatives constantly face unique challenges and pressures in the field," Mullins said. "Our goal is that they use this salary data to decide the best career moves to enhance their futures."
Survey responses were collected from 2,411 professionals currently working in medical sales between March and April 2020. To view the full 2020 Medical Sales Salary Report, click here.
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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 7,000 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.
SOURCE MedReps
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