Why Medical Sales Will Make You Rich?

In the world of medicine, Medical Sales Representatives or Med Reps may have one of the hardest and most challenging jobs. These workers are required to deal with almost every level of people in the medical industry: the patients, the doctors and the product manufacturers.

Aside from dealing with people, their job also requires them to be on the road and travel a lot. They also need to keep a strict and often tight schedule to make efficient use of time. Most important of all, Medical Representatives need to possess a certain level of determination, persistence and persuasiveness.

With all these being said, it’s hard to imagine how these medical workers last for years in the profession. Of course, you can never undermine their love for their jobs, but it is also important to note that these workers receive a significant amount of compensation that helps motivate them to work better.

What exactly do Medical Sales Representatives do?

Med Reps are, as the title suggests, representatives of medical companies in selling their products. Items being marketed by these workers come in a full range of products. These medical items are:

  • Pharmaceuticals

  • Dental

  • Home Health

  • Veterinary

  • Disposables/ Supplies

  • Laboratory Items of Diagnostics

  • Medical Devices

  • Biotech

According to the Department of Immigration and Citizenship, a skill level equal to a bachelor’s degree is a requirement for the position. In some instances, at least five years of relevant experience may substitute the previous requirement.

How Much Do They Earn?

Medical Sales Representatives in Australia usually earn an average of AU$60,000 per year, with a starting salary of around $40,000 while senior Med Reps could pocket over $100,000. But that’s not all, these medical workers also receive a number of bonuses that could add up to somewhere between $1,000 and $24,000.

Aside from the base pay and other bonuses, these sales representatives also receive commission for every successful sale they make. According to Payscale.com, their commission could start at $2,000 but could reach as high as $44,000. This brings their total annual earnings to as high as $140,000.

Sydney and New South Wales also offer the highest salaries for Medical Representatives, averaging somewhere around $70,000. Notably, Brisbane and Queensland offer lower pays for these medical workers, with a posted $36,000 for starters.

These medical workers are also given a minimum of 4 weeks of vacation leave, regardless of years in the profession.

How does Future look for the Profession?

According to Open Universities Australia, employment for the profession has grown at a rate of 49.8% over the past five year sand is expected to grow further in the next half decade.

Notably, over the past few years employment in New South Wales has grown and now has one of the leading employment rates in the country at 35.7%. This is followed by Victoria with 23.9%, then Queensland at 16.9%.

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