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While the appeal of a medical sales job is not tied solely to income, the impressive compensation that often accompanies the job certainly doesn’t hurt. With an average total income of $133,654, medical sales professionals are some of the highest earners in the healthcare industry.
More than 2,700 medical sales professionals participated in the 3rd Annual MedReps.com Salary Survey. Only responses from those currently working in medical sales were considered, bringing the total number of elieligible responses to 2,021. The format of this year’s survey allowed respondents to give more precise answers, fostering more accurate reporting. This year’s report also discloses median incomes, which at times vary significantly from the a
verage. This is b
ecause extremely high earners can skew the average disproportionately higher than the majority earns.
In addition to looking at income by product sold, we analyzed the 2013 data to find out how income varies by company size, job title, years of experience, age, sex and other influential factors. Keep reading for the details.
Income by Product Sold
Medical sales encompasses a wide range of healthcare products and services – from devices and equipment, to supplies and disposables, to home healthcare and health IT. The product or service sold may be the most important indicator of what kind of compensation a sales professional receives.
This year, biotech professionals command the highest earnings. With an average total compensation of $164,783, biotech sales professionals edged out device sales professionals for the top spot in 2013. Biotech professionals also report the highest median income at $155,000. Medical and surgical device sales professionals are a somewhat distant second with an average income of $150,890 and median income of $135,000.
What do you think? What are some other reasons for the gender pay gap? Share the 2013 Medical Sales Salary Report with your network and continue the conversation.