It’s a great time to be a medical device rep. Salaries across medical device sales increased by 8 percent since last year. That’s the largest hike seen by reps in any product category surveyed for this year’s Medical Sales Salary Report.
There’s a great deal of opportunity and money in medical device sales. But if you aspire to take home a large salary in this field, you’ll need to be a top-performer. The pay bump device reps saw was the result of an increase in commissions and bonuses totaling more than $20,500.
Here’s how you can excel in the promising field of medical device sales:
Find the company size that works for you
There’s a common misconception that large medical device companies will help you earn the most. But bigger isn’t always better. There is amazing high-earning potential at companies of every size.
According to our report, small companies have the highest average base salaries of $99,702, while large companies offer the highest average commission of $87,522. And medium-sized employers offer competitive salaries as well, with an average base pay of $92,175.
What’s really important is what company size will fit you best. If you’re in the right environment, you’ll be better equipped to excel in the field. Determine what type of environment, managerial style, and team structure you need to be the best sales rep.
If you prefer more one-on-one time with your manager and close-knit team relationships, a small company may best. Whereas, a large company could be better if you’re self-driven and motivated by competition and earning potential.
Don’t spend too much time on the road
Time on the road is often equated to more sales and greater success. But in medical device sales, commissions are highest for those who travel just 10 percent of the time.
If you’re constantly on the road, you have less time to connect with customers and build relationships, let alone take care of yourself. To succeed in medical device sales, let quality over quantity be your mantra.
Analyze your current level of busyness and the amount of time spent on the road. Are you moving quickly from one customer to the next? Or are you allowing yourself time to nurture relationships? Is your schedule so busy that you’re not showing up as your best self every day? If travel puts too much stress on your overall success and satisfaction, just know that your earning potential doesn’t have to suffer because you cut down on time traveling.
Make your mark in the OR
The OR is the place to make the most in medical device sales. In fact, our salary report found that medical device reps who regularly spend time in the OR earn close to 10 percent more than those in other market segments.
Sales reps who spend time in the OR earn significantly more because they’re able to position themselves as experts. They can field questions and manage complications in real-time.
For a successful career in this field, talk to medical device sales reps who are already spending time in the OR. Find out what etiquette rules they follow and how they offer value. Ask how you can be a trusted resource and what’s needed and appreciated most from reps in the OR.