The field of medical sales is constantly in high demand, and it remains primarily face-to-face despite automation in other industries. This is due to the aging population, making the market crucial and relevant. It's also no secret that the earning potential in medical sales is impressive. According to recent research from MedReps, the average total compensation for medical sales reps is $149,544, with a base salary of $92,698 and an average bonus of $63,318. However, it's important to understand that success in this field is not a quick fix, but rather a journey.
MedReps' 2018 salary report highlights that compensation is directly linked to the amount of time spent in the field. This means that to achieve profitability and satisfaction as a medical sales rep, you must be willing to put in the time and effort. The first step in this journey is choosing a specialization, which can include medical devices, equipment, pharmaceuticals, or biotechnology. From there, gaining field experience, participating in training programs, and networking with industry contacts are key steps. Having a comprehensive understanding of available opportunities is crucial for success.
There are several avenues for gaining experience in the medical sales industry:
While specific certifications are not typically required for medical sales jobs, possessing transferable skills is vital. Most positions do require an undergraduate degree, but it does not have to be in a specific field. Recruiters look for candidates who are ambitious, dedicated, and possess the following skills:
In addition to these skills, having technical abilities is also desirable in the medical sales industry. These can include proficiency with Microsoft Office, technical writing, experience with project management tools (e.g. Basecamp, Trello, Harvest), social media expertise, and knowledge of big data analysis.
In medical sales, professional networking is crucial for job placement and setting oneself apart from other job seekers. Building and maintaining lasting relationships is essential. Having recommendations and character references from a diverse group of people and joining networking groups can showcase your people skills. It's also crucial to have a strong online presence and demonstrate your talents and knowledge. Creating and maintaining a personal website and portfolio, as well as regularly sharing relevant and insightful information on social media, can help attract the attention of recruiters.
If you're considering a career as a pharmaceutical sales rep, obtaining a bachelor's degree and enrolling in a training program are essential. Recommended degrees include pharmaceutical business, pharmacology, and business and marketing. When choosing a training program, consider your learning style and preferences. On-site programs offer networking opportunities, while online programs provide more flexibility. Continuous learning and education are also crucial in this field, and obtaining licensure or certification can enhance your industry and sales knowledge.
The medical sales industry is both thriving and exciting. With continual advancements in medical technology and a growing population's increased demand for healthcare products, there is excellent job security and a promising future for individuals with a passion and drive for success in medical sales.
