MedReps.com conducted its 2nd Annual Medical Sales Salary Survey in April of 2012. In an effort to compile as much data as possible, we sent our 2012 Survey to Premium Members, Basic Members, and former Members too. Only responses from those currently working in healthcare sales were considered – bringing the number of eligible responses to 1,457. This report focuses only on those respondents working in medical equipment sales.
Medical equipment sales professionals earn an average total compensation of $143,077.
At $143,077, the average total income reported by our survey respondents working in medical equipment was on the higher end of the spectrum. In fact, the average income of medical equipment professionals was just 7.5% less than the average total income reported by professionals in the highest paying field, medical device.
Pay Increase in the Past 12 Months
Just 40% of respondents said they received a pay increase in the past 12 months. Of those who reported an increase, 80% said it was 1-4% of their current salary. Due to a handful of respondents with more significant increases, the average increase was calculated to be 4.7%.
Sales Reps vs Management
The jump to management in medical equipment sales has a huge impact on income. Base salaries for those working in management are a reported 33% higher than those in a pure sales role; commission and bonuses for those in management are a reported 8% more.
Men vs Women
Men and women working in medical equipment sales earn equal base salaries, but men earn 17% more in commissions and bonuses. Men are three times as likely to work in the higher paying management positions, but this does not explain the equity with respect to base salaries.
Income by Age
One may assume income increases with age, but it appears that is not always the case. At $160,625, the highest income was reported by the 51-60 age group. However, professionals in the 41-50 age group earned 7.5% less than those in the 31-40 range. Thus age does not appear to have any predictable influence on medical equipment salaries.
Income by Experience
Experience is a key factor in the early years of a medical equipment sales career, but once respondents have 5 years of experience, income stays relatively level. Incomes reported by those with 6-10 years, 11-20 years, and 20+ years had less than 3% variance between them.
Income by Company Size
Medical equipment sales professionals working for large companies (1,000+ FTE) earn, on average, 34% more than those working for small companies (
Income by Travel
Income appears to steadily increase with the amount of travel required by a medical equipment sales job – to an extent. Those who report the highest income ($152,097) travel 50% of the time. However, travelling more than half the time does not pay off. Those who travel 75% of the time earn slightly (<3%) less.
Biotech / Biopharma Sales Rep Perks
One-third of medical equipment sales professionals drive a company car and nearly half receive a car allowance. Two-thirds have access to an expense account. Only 7.5% of medical equipment sales professionals said they do not have access to any of these perks.
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