In MedReps’ most recent Best Places to Work in Medical Sales survey published earlier this year, 72% of employed medical sales professionals said they are either very satisfied (44%) or somewhat satisfied (28%) with their current job. This figure is up considerably from the 2013 study which found that only 43% of medical sales professionals were extremely or somewhat satisfied with their jobs.
But why the increased satisfaction? What are the positive aspects of the job that keep medical sales reps happy and what do these medical sales reps love most about their jobs?
To begin, money definitely matters for most employees across a wide range of professions. The 2015 Medical Sales Salary Report by MedReps showed that medical sales reps did well, earning an average total compensation of $141,464 and typically received benefits such as health insurance, 401ks, and expense accounts. Due to extensive travel, many also received a company car, mileage reimbursements, and/or a gas card.
While money and other types of financial compensation are important to job satisfaction, surprisingly enough, it didn’t even make the top five when medical sales reps were asked about which things they liked most about their jobs (see #6 on the list below). Read on to discover the top 10 things medical sales reps liked most about their jobs, according to the 2016 Job Satisfaction Study.
1) Relationships with providers and patients (21% of respondents)
Medical sales reps enjoy working closely with both healthcare providers and patients. This helps to educate reps while making their jobs easier. They also seem to love the fact that their close involvement often has a direct impact on patient outcomes.
2) Autonomy/Flexibility (16% of respondents)
Sales rep positions are notorious for allowing autonomy and flexibility. Because much of their time is spent in the field, medical sales reps have the ability to structure their time, and in many cases, their call strategy. They are also entrusted to make decisions based on the needs of their clients. Many medical sales professionals say they feel like they are “running their own business” despite the fact that they are usually a small part of a much larger operation.
3) Ability to make an impact (12% of respondents)
Everyone likes to feel like their actions can make a difference in someone’s life and medical sales reps are no different. Whether it’s influencing a doctor or providing a patient with a life-saving device or medication, sales reps like being involved and knowing that their job actually matters.
4) Colleagues (8% of respondents)
If medical sales professionals have co-workers that are hard-working, committed to a cause, and generally fun to be around, positive relationships are formed. Work is a lot easier when you appreciate and enjoy your colleagues.
5) Product (7% of respondents)
When sales reps have strong products they truly believe in, it’s hard to hide their enthusiasm and the sincerity in how they present it. Good products, when presented correctly, are easy to sell and medical sales reps are quite fond of these types of products.
6) Money (6% of respondents)
Again, surprisingly not #1 or at least higher on this list, the truth is simply that medical sales reps currently place a lot more importance on other things that make their jobs more enjoyable.
7) Management/Leadership (4% of respondents)
From the job satisfaction study: “nothing has a more negative impact on job satisfaction than unqualified, unappreciative, or unethical leadership. Medical sales professionals work hard and they expect those above them to appreciate and respect what they do in the field.”
8) Culture (4% of respondents)
Medical sales representatives thrive in a culture that is supportive, encourages feedback, and is directed by positive and ethical leadership. Promoting a healthy work environment is very important for all types of sales reps.
9) Hunt (3% of respondents)
Researching a potential client and finding ways to sell a product can be exciting and many medical sales reps really enjoy the “hunt.” “Hunters” get their sales energy from hunting for new opportunities. They are good at finding these opportunities and then offering solutions.
10) Work-Life Balance (3% of respondents)
Medical sales reps truly enjoy working for companies that understand the importance of what it means to prioritize both work and lifestyle. Companies that allow their sales force to focus on health, pleasure, leisure, family and spiritual development in addition to work, generally retain their employees longer because they are happy.
Job satisfaction is quite high among medical sales reps and that’s a good thing. This top ten list proves that it’s not all about money and that more and more, medical sales jobs are offering a variety of factors that are helping employees enjoy higher job satisfaction. Medical, pharmaceutical, and biotech companies seem to be catching on as well and are responding by focusing on values that keep their employees truly happy, not just by providing them with a nice paycheck. With such an exciting time to be involved in medical sales, one thing is for sure: it’s definitely good to be a medical sales rep!
