Medical device sales is a challenging but rewarding industry. Like any job it has its advantages and disadvantages. When I got started in the capital equipment space, I was told that the job would offer the highest of highs and lowest of lows. In hindsight, this is pretty accurate. In this article, I reflect on the five things I like most about medical sales.
5 Things I Like Most About Medical Sales
1. Working With Innovative Technology
I take for granted how innovative the breakthroughs in medical device technology can be. On a daily basis, I get exposure to new tools based on robotics, artificial intelligence, and cloud computing. These tools have real world applications which result in improving patients’ lives. It can be easy to overlook this on the day to day. But when you take a step back it is quite amazing. The medical device industry has a profound impact on the overall health of the community.
For example, check out this recent article from MassDevice on how 3D printing is being used to advance orthopedic surgery.
Related: Best Medical Sales Companies
2. Being Up To Date On The Latest Advancements In Healthcare
It is always nice to have the inside scoop on trending medical and health topics. For example:
- What types of procedures are becoming more common?
- What types of treatments should be avoided?
- What are the best new medications?
Working with physicians and nurses every day puts you in a position to get the latest information, first hand.
As a patient, you get the best outcomes when you are able to advocate for yourself. Getting the latest intel puts you in a position to be an advocate for your family and yourself.
3. Spending Time In Hospitals
Hospitals are a clean, safe, and professional environment. In the scheme of work environment, or more specifically sales environments, a hospital is not a bad place to work. It beats walking through a hectic kitchen or across a muddy construction site to meet with a client.
While hospitals are open around the clock, the bulk of the the activity takes place early in the morning through early afternoon. From my perspective, this is the best time to be working. If you are on top of your business it can feasible to be home (or back in the office) by around 3pm some days.
A competent and high performing medical devices sales rep can make good money. During the good years it is not uncommon to make $250,000 or more. There are not many jobs which provide the opportunity to make this type of upside compensation, while providing the day to day flexibility that a sales role offers. If you have been in a territory for awhile you can really have the best of both worlds. While medical device sales is a sophisticated and complex sale, it is not really not that much different than many of the other sales jobs out there. And very few of these other business sectors have sales jobs which pay over $150,000.
Another great thing about medical sales compensation is the money can start rolling in early in life. If you are able to quickly get a few years of B2B sales experience right out of college, then you can realistically get a job with a major medical manufacturer in your mid twenties. Making good money early in life makes all the difference. It allows you to put away a large portion of your paycheck and start saving!
Related: How Much Is A Medical Device Salary?
5. Business Travel
Business travel is a part of most sales jobs. And yes, it can get dull and exhausting. But sometimes nothing is better than getting out on the road to make a few sales calls. Outside sales roles offer a lot of flexibility and sometimes you have to soak up the little things. Business travel breaks up being the office and is an easy way to add some variety. Plus, who doesn’t enjoy some free meals on the road, along with hotel and airline reward points.
Reward points from business travel can really add up. If you do a good job to optimize reward points, you can count on a 1-2 week vacation every year at a signicantly reduced cost. Also, don’t forget the perks of a company car and company phone. These may seem like small wins, but the benefits really add up over time.