You’ve been working for the company for several years already, but only your age and your expenses increase, and well, also the prices of goods you used to buy. Your salary remains stuck to where it was years ago, and you start wondering why it can’t cope with your expenses. Then you wonder why you […]
Salary
If there is one thing you’ve heard about medical sales jobs it’s that they are rewarding in numerous ways. But that excitement can extinguish fast if you start to overthink your qualifications. Breaking into any new industry can be overwhelming. Your experience in medical sales however does not define your success in getting your foot […]
The United States is gigantic. Each region comes with its own character and bundle of advantages that moving from one end of the country to the other feels like a major lifestyle adjustment. Not to mention, there are huge differences in the cost of living and opportunities for all sales regions. In recognition of the […]
Given the high standards of people employed in medical sales, you might expect that it is challenging for employers to provide them with the best employee benefits. According to our 2021 Best Places to Work survey, 80% value work-life balance, another 80% require compensation and robust benefits, 60% want promotions to happen from within the […]
If you’re open to starting a new career path or exploring options beyond the specific field you studied as an undergrad, you can’t ignore the allure of entry-level medical sales jobs. A medical sales rep’s income can skyrocket with enough experience. According to our survey, anyone with at least twenty years of experience has an […]
What is the earning potential of a medical sales rep? This question is expected from those breaking into the industry or already working in medical sales. Sales reps want to know, “Am I earning as much as my peers?” But the bigger question for many coming out of 2020 is how did the global pandemic […]
In the spring of 2020, we asked surgical sales reps for predictions about how the global crisis would impact the future of medical sales. A shocking majority (91%) said they expected the pandemic to negatively impact their 2020 earnings. This year’s results are consistent with those predictions.
Biotech sales reps saw a record-breaking increase in total average compensation at the end of 2019. Following a steady rise in compensation before the global crisis, it’s no wonder 50% of biotech respondents said COVID had a negative impact on their 2020 earnings. However, just 17% earned less in 2020 than they did the previous year.
Medical equipment sales representatives continued on a slow but steady overall salary increase. These reps saw a slight increase in base salary and a significant jump in reported commissions despite challenges brought on by the global crisis.
While 2020 presented unique challenges to meeting commissions goals, pharmaceutical companies rose to support pharma reps through the pandemic. Reps reported higher base salaries and more benefits than the previous year. While the majority of reps expected to earn less in 2020, only 14% of pharmaceutical sales respondents reported taking home less income.