At Medical Sales College, we believe in the power of the medical sales industry. We’ve seen first-hand, thousands of students go through our program and benefit from medical sales. If you have B2B sales experience, a medical background, are a recent graduate, or just looking for a career change, medical sales is an incredible industry to be a part of. This industry is not only filled with opportunities for everyone, but with proper training and education, you can thrive quickly in medical sales.
Medical technology is drastically evolving and advancing. Becoming a Medical Sales Representative is a great way to get into a reliable and life-changing industry, even without a medical background.
We’ve decided to put together a list of 6 reasons why becoming a Medical Sales Representative could be the best career choice for you. After reading, we’re sure you won’t be able to stop thinking about the incredible opportunities and career you could have in this field.
1. Job Satisfaction – 82% of medical sales representatives are happy with their jobs
2. Career Growth Opportunities – moving up the career ladder is attainable
3. Work Flexibility – schedule your own workdays, work from a home office
4. Income Potential – average compensation is $177,992
5. Geographical Exploration – far from being desk-bound, relocating and traveling for work is common
6. Networking Possibilities – interact with a variety of other professionals leading you to a successful, long term career
It is important to be happy with your career. Being satisfied with your job leads to more productivity, better work ethic, stronger relationships at work, and overall more motivation towards career goals. Satisfaction in a workplace is essential for not only the employees, but the company as a whole.
In a study conducted by MedReps in 2020, it was found that 82% of medical sales representatives are ‘somewhat’ or ‘very satisfied’ with their job and benefits. Every year professionals in the medical sales industry appear to be happier than the year prior. This percent itself is higher than the national average for job satisfaction in the United States.
As a Medical Sales Representative, job satisfaction is not something to stress. You will most likely be happy with your position in terms of salary, commission, work environment, opportunity for growth, and tasks. As long as you are passionate about your job and are working towards goals, this industry could be a perfect fit for you. Studies show Medical Sales Representatives are happy in their jobs, you could be too.
Career Growth Opportunities
When looking for jobs, knowing there are opportunities for growth within the company is essential. No one wants to be stuck in one position forever. As a Medical Sales Representative, career growth is dependent on your work ethic and motivation, just as every other job. The opportunities are endless for professional advancement in the industry.
Career growth for Medical Sales Representatives seems to vary, many transition from field trainers to sales managers, or sales representatives into marketing or corporate training roles. The opportunities that the industry offers are across all fields of study, which is why the industry is so promising.
The truth is, Medical Sales Representatives work hard and tend to have longer hours, but there is also tremendous flexibility. Many Medical Sales Representatives set their own hours and have complete control over their schedule. It is their responsibility to schedule with physicians, healthcare providers, hospitals and other sources on their own. Representatives schedule their meetings to fit their lifestyle.
In this position, working from home is also an easy option. Plenty of Medical Sales Representatives don’t sit at a desk or come into an office for work. They spend their time talking to those they are selling their medical equipment to which sometimes may be done from home.
With a flexible work schedule, a life outside of work is oftentimes supported and encouraged by hiring companies. As the industry has grown, many professionals have learned to balance family life and work successfully. Between personal scheduling and limited-if any desk work, being a Medical Sales Representative allows for a flexible lifestyle; in and out of the workplace.
It is no secret that Medical Sales Representatives make good money and there is high-income potential in the world of medical sales. According to the 2021 MedReps Salary Survey, the average compensation for a medical device representative is $177,992. For medical sales reps in general, the average compensation is $172,527 and the base salary is $104,649. All of these figures have increased by at least 2% in the past year alone and have become a trend in the previous years.
With this information, we can see that the industry will continue to grow, and income potential will as well. Taking a deeper look into the product and markets in the industry, Biotechnology, Capital Equipment/ DME, and Medical Device markets are reported to have the highest salaries across all medical sales.
By differentiating salaries between regions across the United States, New England tops other regions drastically with a total average salary of $187,219. Every other region is about equal to each other, rounding to about $170,000. Understanding the salary and benefits offered between different opportunities allows for you to make the best decision.
Alongside salary, the commission is a huge part of sales. Commissions in some medical sales markets match salary, which is not always the case in other industries. Having this commission allows for hard work to truly pay off. If you are dedicated to your work and the medical field, the income potential is difficult to miss out on.
In the United States, Medical Sales Representatives live in any region. Almost every market across the country hires for this position, which opens even more opportunities and allows for geographic freedom. As written in our article about writing Medical Sales resumes, relocating is a huge factor in this industry. If you are interested in relocating, there are hundreds of companies that would appreciate your flexibility.
Many companies are open to hiring Representatives that enjoy relocating between regions. The medical sales industry encourages geographical exploration, which reflects the hours of traveling between cities and states. Whether that means in a car or on a plane, being a Medical Sales Representative means you are going where the customers are. Traveling and job opportunities across the nation are unlimited.
In the world of medical sales, relationships are essential for success. Knowing how to build strong connections to people and utilize networking opportunities in the market are key characteristics companies look for in Medical Sales Representatives.
Building connections and networking is the best way to find leads and be successful in this field. With that being said, these are long-lasting relationships you are building that can benefit you in any part of your future career. If you get to know professionals across different fields in the industry, you will realize the world of opportunities that are open to you.