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Biotech sales professionals are now the top earners in medical sales, with an average total compensation of $164,783, according to the 2013 Salary Survey released by MedReps.com, a medical job platform owned and operated by Healthcare Staffing Technologies, a member of the Jackson Healthcare family. They also have the highest median income at $155,000.
Medical and surgical device sales professionals followed, with an average income of $150,890 and median income of $135,000.
Other findings include:
- Younger professionals often earn more than their older counterparts when years of experience are equal. In the group with 11 to 20 years’ experience, professionals in their 30s earn more than those in their 40s and those in their 40s earn more than those in their 50s.
- Experience has more impact on earnings than age. Income increases significantly between the 20 to 30 and 31 to 40 age groups, but it stays relatively flat among the other age groups. Income steadily rises, however, as the years of experience increase.
- Professionals employed by manufacturers earn substantially more than those employed by distributors. The average income reported by those employed by manufacturers is $141,958, whereas professionals employed by distributors earn an average income of $112,264.
- The job title commanding the highest income is “sales director” or “VP of sales.” These professionals reported an average total income of $214,528. “Sales managers” reported the second-highest average earnings at $175,898.
The 3rd Annual Salary Survey analyzed data collected from more than 2,000 professionals currently working in medical sales.