2012 Medical Device Sales Salary Report

nd
2 Annual
Device respondents at a glance
Total Number:
506
Avg. Age:
39
Avg. Experience:
9 years
Avg. Base Salary:
$79,709
Avg. Total Comp:
$154,753
Avg. Salary Increase: 5.4%
Avg. Time Traveling:
30%
Medical Device Sales
Salary Report
2012
MedReps.com conducted its 2nd Annual Medical Sales Salary Survey in
April of 2012. In an effort to compile as much data as possible, we sent
our 2012 Survey to Premium Members, Basic Members, and former
Members too. Only responses from those currently working in
healthcare sales were considered – bringing the number of eligible
responses to 1,457. This report focuses only on those respondents
working in medical device sales.
Medical Device Sales Professionals report the highest earnings.
$180,000
$0
Commission/Bonus
Base
$48,000
$33,000
$73,000
$77,000
$67,000
$86,000
$37,000
$40,000
$81,000
$73,000
$70,000
$20,000
$106,000
$40,000
$80,000
$60,000
$92,000
$80,000
$76,000
$57,000
$73,000
$100,000
$29,000
$120,000
$75,000
$140,000
$45,000
$160,000
At $154,753, the
average total income
reported by our survey
respondents working in
medical device was
higher than that
reported by
professionals in any
other field. Device
professionals earn 1%
more than those
working in health
IT/software and 2.5%
more than those in
biotech/biopharma.
2011 vs 2012
$75,000
Base Salary
Medical Device 2011
$79,000
$0
$67,000
Commissions/
Bonus
$50,000 $100,000 $150,000
The jump to management in
medical device sales has a
significant impact on income.
Base salaries for those
working in med device sales
management are a reported
36% higher than those in a
sales role, and commission
and bonuses for those in
management are a reported
8% more.
Sales vs Management
Medical Device
Sales
$73,000
Commissions/
Bonus
Medical Device
Management
$116,000
$0
$73,000
Men working in medical
device earn, on average, 15%
more than women. The
difference may in part be
explained by the fact that 90%
of the med device
management positions are
held by men. Additionally,
men in this field have an
average of 2 more years of
experience than women.
$63,000
Base Salary
Med Device Men
$81,000
$79,000
Commissions/
Bonus
$180,000
$67,000
$30,000
$98,000
$60,000
$82,000
$90,000
$83,000
$120,000
$81,000
$150,000
$77,000
Income appears to increase
with age. The most significant
jump (30%) occurs between
the 20-30 and 31-40 age
groups. Afterwards, it levels
off somewhat with a 4%
increase reported by the 4150 group and <1% change in
the 51-60 group. There were
very few respondents in the
60+ category, but the income
they reported was significantly
higher than any other age
grouprelevant data.
$100,000 $150,000
20-30
31-40
41-50
51-60
$40,000
$50,000
$71,000
$0
$86,000
$50,000 $100,000 $150,000 $200,000
Men vs Women
Med Device Women
Base Salary
$79,000
$114,000
$80,000
$68,000
Medical Device 2012
The 2012 average indicates a
6% increase over the average
total compensation reported
by device professionals in
2011 ($146,061). Base salaries
did not change significantly;
rather the increase was seen
in commissions and bonuses,
which were up 12%.
$0
60+
Income by
Age
Commissions/
Bonus
Base Salary
Commissions/
Bonus
Base Salary
$73,000
$99,000
Medical device professionals
working for large companies
(1,000+ FTE) earn, on average,
12% more than those working
for smaller companies (<50
FTE) and negligibly more than
those working for medium
sized companies (51-999 FTE).
$76,000
$150,000
$80,000
$78,000
$100,000
Small
Medium
Large
$50,000
$50,000
$88,000
$75,000
$83,000
$78,000
$78,000
$82,000
$81,000
$75,000
$50,000
$77,000
$100,000
0%
10%
25%
50%
75%
Commissions/
Bonus
Base Salary
$0
Three-fourths of medical
device professionals have
access to an expense account.
Half receive a car allowance
and nearly one-quarter drive a
company car. Only 13% of
medical device respondents
said they did not have access
to any of these perks.
Income by
Company Size
Commissions/Bonus
Base Salary
$0
Income by Travel
$150,000
$80,000
6-10 yr 11-20 yr 20+ yr
$53,000
2-5 yr
$89,000
<2 yr
Income by
Experience
$86,000
$0
$87,000
$30,000
$81,000
$60,000
$71,000
$90,000
$63,000 $30,000
$120,000
$59,000
$150,000
$93,000
$180,000
One might think the more
experience a professional has,
the higher their income would
be, but this is not always the
case in med device. With a
total income of $175,575,
those with 11-20 years of
experience earn the most,
followed by those with 6-10
years. Those with 20+ years
earn an average of $171,837.
Stock
Purchase
Profit
Sharing
Expense
Account
Car
Allowance
Company
Car
The results of the survey
suggest that travel has very
little impact on earnings.
Regardless of the amount of
time spent on the road, the
average base salary and
commissions stayed relatively
steady, with the exception of
those traveling 75% of the
time. While their base salary
was higher, their commissions
were significantly less.
Medical Device Perks
38%
13%
74%
50%
23%
0%
20%
40%
60%
80%
100%