This is old news!
Go check out the NEW
Medical Device Sales Salary Report
Medical device sales jobs continue to be among the highest-paying jobs in medical sales. According to the 2015 Medical Sales Salary Report, the average medical device sales salary is $156,914, with an average base of $76,029 (Med. Base $75,000, Med. Total $145,000). Perhaps not coincidentally, medical device sales jobs are the most commonly held positions by members of the MedReps community.
About the Survey
The 5th Annual Medical Sales Salary Survey, conducted in April 2015, collected income data from more than 3,000 medical sales professionals. The survey also gathered information regarding job title, employer type, amount of travel, years of experience, and of course, the type of product sold – with the latter being one of the most influential factors impacting medical sales salaries.
This year, medical device sales professionals made up 28% of the total number of respondents. This percentage is slightly lower than previous years when the category also included surgical device sales professionals. The 2015 survey added a separate category for surgical sales, which likely contributed to the slight year-over-year decline of the average medical device sales salary, as average surgical sales salaries tend to be higher. Other factors contributing to medical device salaries include job titles, type and size of the employer, the amount of travel, years of experience, and even age and gender.
Medical Device Sales Rep Salary by Job Title and Company Size
The majority of medical device respondents (75%) work in field sales and earn an average total income of $156,783 (Med. $145,000). Job titles such as Business Development, Sales Manager, Marketing Director/VP, and National Accounts command higher incomes, with Sales Directors and Vice Presidents reporting the highest earnings (Avg. $218,276, Med. $212,500).
Med device professionals employed by manufacturers (who accounted for 80% of respondents) earn more than those employed by other types of companies, and medium and large manufacturers pay more than smaller ones.
Medical Device Salaries By Age and Experience
The numbers suggest that the more experience a medical device sales rep has, the more he or she will earn. Those with more than 5 years of experience earn significantly more than those with less. Age, which often comes with experience, also influences earnings, with the highest average incomes reported by respondents in their 40s.
Travel and Location Impacts on Medical Device Sales Salaries
How much travel a job requires can also impact medical device rep salaries. Those who travel at least 25% of the time earn more than those who travel less, or not at all. Medical device sales reps who spend half of their time travelling reportedly earn the most.
Professionals in Colorado report the highest medical device sales salaries (Avg. $191,324, Med. $195,000), however, Colorado residents represented only 2% of the respondents. States with the most respondents included California (Avg. $152,199), Texas (Avg. $166,763), Florida (Avg. $148,941), and New York (Avg. $165,885).
The Gender Gap in Medical Device Sales
Medical device continues to be a male-dominated space. Women account for only 23% of the med device respondents, and they earn far less than men. While the average and median base salaries are not far apart, women report an average total income that is just 81% of what men earn. This is due, in part, to the fact that women are far less likely to hold management positions. For every 14 men with a Director or VP title, there is just 1 woman. Women hold just 1 out of 6 Sales Manager jobs. Women are still very under-represented in the medical device space, so it’s not surprising that the gender pay gap continues.
Year-over-Year Average Medical Device Salary
The average medical device sales representative salary is down from the 2014 figure, most likely because, in the 2015 survey, surgical sales salaries are in a separate category. Surgical device sales professionals typically earn higher incomes, so by combining the two categories in previous years, the average for non-surgical device sales skewed higher.
Regardless of the slight year-over-year dip, medical device sales professionals continue to hold some of the most sought-after positions in the industry, pulling in an average salary of $156,914.. And despite the challenges presented in recent years by the Affordable Care Act, the device excise tax, and even the rep-less sales model, this highly competitive field shows no signs of slowing down.
View Previous Medical Device Sales Salary Reports
2014 Medical Device Salary Report
2013 Medical Device Salary Report
2012 Medical Device Salary Report
2011 Medical Device Salary Report