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 average income of $204,320. But you don’t have to hold out for decades to see the financial reward.
Anyone with zero to two years of experience in medical sales receives a nearly six-figure salary right from the start. In the industry, the base income is $69,748. With an average of $40,654, you could be looking at $97,156 total earnings.
Glassdoor estimates that the current average base pay for entry-level positions across all industries is $35,813. So even if you don’t get what you’d hoped for from your first few commissions, you’re still doing well for yourself with just that base income.
Here’s what you should know about the rewards of entry-level medical sales jobs:
Which entry-level positions have a comparative salary:
It’s true that the medical sales rep position is not the only one with such a high entry-level salary. Data scientists and software engineers both start over $101,000, according to Indeed’s salary summaries. And the average nurse practitioner’s earnings with less than one year of experience is $99,315, with the potential for an additional $17,500 from overtime.
Although those figures are larger than what’s available with entry-level medical sales jobs, consider the training required for each.
- – Data scientists can start working with just a bachelor’s degree, but many employers prefer them to have a master’s degree in the field. Furthermore, any aspiration for an advanced leadership position would require a doctoral degree.
- – Software engineers don’t need a degree above the bachelor’s level. But they must have an extensive background in computer programming and understand how to apply those skills to meet the needs of their industry.
- – Nurse practitioners must invest in a master’s degree in nursing and pass the required certifications for their regions.
In contrast, entry-level medical sales jobs do not demand applicants have extensive training in the field. A variety of degrees and skills could be a great match, and even some with just a GED or high school diploma can break into the industry. The salary of a medical sales rep can compare to those of other high-earners without intensive training and tailored skill sets.
What’s significant about benefits for entry-level medical sales jobs:
The medical sales industry doesn’t push the fold of traditional benefits too much. It’s no match for Silicon Valley’s efforts. However, many companies offer their reps several more progressive benefits that you might not find at other high-paying entry-level jobs.
Our survey found that 47% of medical sales reps received a car allowance, another 47% gas reimbursement or a gas card, and 40% got a company car. Also, 28% of representatives said their employer offers adoption assistance, 26% said the same about earning healthy living credits, and 19% for pet insurance.
What’s more, the percentage of respondents receiving the benefit increased for every benefit on our survey since last year. Employers are willing to provide more for their teams to attract and retain top talent.
For comparison, adoption assistance and pet insurance are common benefits only for data scientists out of the positions listed above. And it’s not common for any of those jobs to get a company car of healthy living credits.
Why medical sales jobs stand out:
In addition to the appeal of salary and benefits, here are some ways entry-level medical sales jobs reward reps:
- Medical sales reps’ earnings quickly eclipse those of the other positions in just three to five years. As a slightly more experienced med rep, you would earn about $142,528.
- a. Data scientists, however, would receive an average of $138,478.
- b. Software engineers don’t get anywhere close to the medical sales’ growth. After as many as six to nine years, their average is only about $116,000.
- c. In that three to five-year period, nurse practitioners can get an average of $120,848. Even with overtime compensation, their salary isn’t high enough to compete with the medical sales rep’s average.
- It’s easy to transfer to medical sales jobs from several industries.
- a. Having a background specific to the healthcare or scientific side of medical sales can put you at an advantage. Transitioning from working as a pharmacist or experience with biotech skills will make you stand out.
- b. But anything that relates to working with other people and building relationships, such as public speaking experience or business education, will make for an easy adjustment, too.
- Medical sales do not require reps to sit in front of a computer all day. While there is time for research, learning, and presentation prep, your interactions with others are critical. You must be prepared to leave an impression on potential clients and earn trust from current customers. People are the priority, not technology.