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For over fifteen years, I have utilized Buckman Enochs Coss to hire over one hundred individuals for Sales and Sales Management positions for a variety of healthcare technology firms. Whether it’s been for Fortune 500 companies or early stage, VC backed start-ups, BEC has always done a terrific job in sourcing top-talent.

Scott Schlesner
Vice-President of Sales
Elsevier

Medical Sales Reps: Current Salary Trends
If you’re considering a career in medical sales, it may help to know that this field is considered stable and relatively lucrative. Average salaries have risen at a fairly steady rate and fluctuated very little during the past 10 years. According to a variety of sources – including the Bureau of Labor Statistics – this field comes with a promising future, room for advancement and base salaries that hover just under six figures, not including commissions and bonuses which are not uncommon in the industry. Salaries for medical sales reps rose to new heights following the recent economic downturn, reaching a peak in early 2013. Since then, base salaries have remained relatively high, but growth has leveled off due to a variety of factors and events affecting the medical equipment and pharmaceutical manufacturing industries. 

Here are a few additional bits of information that new graduates and mid-career professionals may find useful prior to negotiating new offers or potential salary increases. 

Base Salaries and Commissions

According to MedReps.com surveys, about seven percent of respondents work for commissions only. The remaining 93 percent work for a combination of commissions, bonuses, and base salary. On average, nationwide base salaries amounted to about $80,000, while combined base salaries and commissions averaged at about $141,000. 

Survey Respondents

Most of those who responded to surveys designed to track salaries were field reps, with a small percentage falling into the combined category of sales managers, national account managers and sales directors. Respondents held an average of 10 years of experience, were about 40 years old, and traveled about 15 percent of the time. 

Top Incomes by Products Sold

The highest-paying area in the medical sales field features healthcare information technology. Those positions broker deals with high-level healthcare employees that take a long time to complete and have large purchase prices. Healthcare software is constantly changing but can have a great impact on patient care. Following the healthcare IT sales positions (in terms of average income) are surgical sales and biotech sales.
 
Large metropolitan areas like New York City and Chicago seem to represent the highest salaries, because of a combination of numerous headquarters for the largest provider companies and hospital systems as well as the cost of living factor. Salaries also tend to rise with age and experience, peaking at about age 50. Salaries for this age group averaged about $154,000 per year. 

For more information on salary trends for medical and pharmaceutical sales positions, reach out to the sales staffing experts at Buckman Enochs Coss and Associates.