2020 Medical Device Sales Salary Report

Medical Device Sales

“How much money does a medical device sales rep make?”

 

Every year, MedReps conducts a survey to answer this question and more: 

“What size medical device company pays the highest salary?” 

“How much commission do medical device sales jobs pay?”

“How does travel impact medical device sales salaries?”

“How does location, age, and gender impact medical device sales earnings?” 

But this year, no one could have predicted that one of the questions would be, “How is the global crisis impacting the future of medical device sales?”

2020 Medical Device Sales Salary Key Findings:

  • Medical device sales reps saw a 9% increase in total average compensation
  • Both male and female medical device reps saw increases in base salary, commission, and total average compensation
  • Those working in the cath lab reported the highest average base salary and commission 
  • Reps at small- and medium-sized companies earn higher base salaries than those at larger companies

After seeing a 9% increase in total average compensation, medical device sales representatives ended 2019 on a high note. But no one could have ever guessed what the first quarter of 2020 would bring. 

According to our survey, 85% of medical device sales respondents believe the COVID-19 crisis will negatively impact their earnings this year. This is due to the pandemic limiting access to hospitals and clinics, as well as many elective procedures being postponed or canceled in many states. With this outlook, less than half of medical device respondents said they expect to earn more in 2020 than they did in 2019.

However, these reps earned an impressive jump in commissions from $83,542 last year to $98,186 this year. This has led to a $14,430 jump in total average compensation. The determination and drive medical device reps have stems from the obvious potential this field has to offer, no matter the unknowns that lie ahead.

Check out our full findings below to learn more about how you can develop a successful surgical sales career in the future:


medical device sales

View Previous Medical Device Sales Salary Reports:

0