What Medical Device Sales Makes The Most Money Reps selling surgical devices are the next highest paid at 158 328 Product categories including capital equipment durable medical equipment DME medical device and biotech biopharma all fare well too with reps making more than 150 000 on average The lowest paid product categories include salespeople offering home health products
High Compensation the average compensation in medical sales is 155 358 yr The top sales representatives consistently earn 400K each year Managers Directors and VPs can earn 1M each year Great Benefits Car Phone Meals etc depending on the company the benefits are fantastic It is not uncommon for representatives to be provided Based on our sample of Comparably data for the top 10 medical device companies the average yearly total compensation is 155 358 The average base medical device salary is 94 918 and the bonus commission is 60 440 in 2021 making the commission percentage you earn 38 of your total compensation Sales Representative
What Medical Device Sales Makes The Most Money
What Medical Device Sales Makes The Most Money
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What Does It Take To Be A Medical Device Sales Professional
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The global medical device market was valued at 550 billion and is expected to grow to 850 billion by 2030 The possibilities are endless with an aging population living longer and requiring more chronic care And that s not all Since 2021 the average income of medical sales reps has increased by 2 64 percent Medical sales director and VP jobs pay base compensations that are 24 more than project managers Notwithstanding regardless of the outrageous contrasts in base salaries normal commissions for all medical device sales jobs titles recorded were inside a 10 range Field reps detailed the least normal commissions at 80 704 and chiefs and VPs revealed the most elevated at 89 255
The estimated total pay for a Medical Device Sales Representative is 176 531 per year with an average salary of 88 231 per year These numbers represent the median which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users The estimated additional pay is 88 300 per year Total pay range 138K 256K yr 184K yr Median total pay Pay breakdown 70K 128K yr Base pay 69K 128K yr Additional pay The estimated total pay for a Medical Device Sales is 184 139 per year with an average salary of 92 741 per year These numbers represent the median which is the midpoint of the ranges from our proprietary
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Here s a list of 24 medical equipment sales companies to explore 1 Medtronic Size More than 10 000 employees Description Medtronic is a large global organization that creates and sells medical devices and equipment They re known for developing industry leading technology like advanced pacemakers Initial roles often yield a 66 793 base salary plus bonuses Specialists like a surgical sales representative can start at around 82 337 with medical equipment sales reaching up to 95 057 Gain experience and you re looking at a significant jump with seasoned pros making an estimated 121 946 by 2023
The OECD recently said that spending on healthcare across the globe is now 8 8 of GDP Furthermore the organization predicts it will outpace the GDP by 2030 This is great news for those in medtech sales But to truly capitalize on this growth you must ensure your team is well trained and equipped with the right tools 1 Earn a bachelor s degree Required education will vary by employer but to become a pharmaceutical sales rep you ll likely need a bachelor s degree According to MedReps 2018 Pharmaceutical Sales Salary Report 98 of the reps surveyed have a four year college degree or higher
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What Medical Device Sales Makes The Most Money - Make Commissions Easier Than Ever With CoreBot the global medical device market was valued at 570 billion in 2022 and is expected to grow to 996 billion by 2032 With a rapidly growing and niche industry such as medical device sales sales reps can have a much higher earning potential than other industries