Getting Started in Medical Sales 

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Considering entering this Industry-Question
Posted by: Ben (Host IP Logged)
Date: October 13, 2004 02:34AM

Is there true job security in Medical Device/Pharm sales? If so...which has more security? As I'm taking a close look at different companies/positions it seems that there is a lot of movement going on...

Re: Considering entering this Industry-Question
Posted by: Ed (Host IP Logged)
Date: October 13, 2004 10:45AM

Ben--

It depends on what you mean by secruity. My experience is based on 20+ years of medical device sales and marketing experience. Its a rapidly changing and dynamic industry with new technologies constantly being introduced into the marketplace. One day you can be the market leader and then the next day in last place wondering where it all went.

Re: Considering entering this Industry-Question
Posted by: Ben (Host IP Logged)
Date: October 19, 2004 06:25PM

Thanks for the Reply Ed-I guess I'm just trying to feel out whether I can find a solid ppportunity with financial potentail and yet the security of a good pension. I've sold business-to-business for a fortune 100 and been with them for 7 yrs +. It seems like aligning with an industry leader would be key...especially in light of your point about the rapid changes...I need a company with a good pipeline. Any suggestions on the medical device end of things??

Re: Considering entering this Industry-Question
Posted by: Jeff (Host IP Logged)
Date: October 20, 2004 10:47AM

Ben, are you looking for a company with a pension plan? I think any kind of "pension plan" that you could hang your hat on in retirement went the way of the dodo bird.

That being said...working as an employee (vs. independent contractor) selling medical devices for a top tier company offers excellent financial security.

It usually does this in a number of ways. Base salary, small but steady amount you can count on during the year. Aggressive variable compensation plan. You're paid based on your performance. Currently this pay is VERY good with most companies. As our healthcare system continues to evolve, especially if we move to a single payor system favored by one of our political parties, we may start to see profit margins squeezed and a commensurate reduction in the amount of compensation paid out to sales personnel. Additionally, most companies have some form of 401K or stock option/discounted stock purchase plan that you can participate in.

In short, you'll find more job security working as an employee for a company, with your benefits taken care of and all of the perks I've listed above. As an independent contractor you generally have the opportunity to make a higher gross amount but your risk exposure is greater too.

Good luck!

Re: Considering entering this Industry-Question
Posted by: Ben (Host IP Logged)
Date: October 21, 2004 10:10PM

Thanks Jeff-I certainly like the direction of this industry is going. I appreciate the feedback!

Re: Considering entering this Industry-Question
Posted by: Gary H. (Host IP Logged)
Date: October 24, 2004 07:10PM

Ben,

Here is the real HONEST truth. There is no such thing as job security. People looking for job security should get a job with the government.

Re: Considering entering this Industry-Question
Posted by: Ben (Host IP Logged)
Date: October 25, 2004 11:01AM

HA!-Good point-