Orthopedic sales reps are the frontline team responsible for promoting health and wellness in their organization. They are tasked with partnering with physicians, clinics, and hospitals to provide patients with comprehensive care during recovery from a severe injury or surgery. Bipolar sales reps are in high demand, but orthopedic sales reps have slower growth rates due to lower pay rates and a general lack of experience. However, this situation is about to change! Beginning in January 2017, the National Joint Apprenticeship and Training Committee (NJATC) determined that employment opportunities would become more lucrative for orthopedic sales reps. Let us know salaries for orthopedic ales Representatives and factors affecting orthopedic sales rep in this article.
Salaries for orthopedic sales representatives
Orthopedic sales representatives typically earn between $14,000 – 380,000 per year. This compensation varies depending on the type of employer, sales rep experience, and the location in which they are working. However, all orthopedic sales reps must be licensed, so it is appropriate to assume they earn higher salaries than those without licensure. According to the 2020 Salary Guide For Orthopedic Sales Reps, the average salary for an orthopedic sales representative is $44,300 per year.
Best places to earn orthopedic sales representatives salaries
1. New Jersey
Orthopedic sales representatives in New Jersey are out of luck: The NJATC has not yet decided if the state will post an increased wage. However, this decision will likely be made shortly, so you can expect salaries to rise in the next few years. On average, orthopedic sales reps earn $35k/year–$5k less than average Salaries For Orthopedic Sales Reps.
The NJATC has clarified that Florida is one of the best places to work in 2017. Many orthopedic sales representatives have already relocated to this state in anticipation of a pay increase. The median salary for this position is $45k/year, and many orthopedic sales reps expect this number to rise to $60k/year.
3. New York City, NY
According to the Bureau of Labor Statistics, the average orthopedic sales representative’s salary in New York City is $53k/year. While this is a solid figure, it is still $5k less than the salaries for orthopedic sales representatives in other states. If the NJATC raises the wage for orthopedic sales representatives and the BLS confirms this decision, you can expect an increase in this number.
Employers that offer orthopedic sales representatives higher pay packages include manufacturers and retail stores. They also have companies specializing in medical supplies and equipment. The average compensation for manufacturers is $59,580 per year, while retail stores pay an average of $46,260 per year. Most other types of employers tend to use salaries around the national average of $44,300 as of 2017.
Orthopedic Sales Rep Location
The location of orthopedic sales representatives is not as diverse as many other sales positions. In most cases, these workers are found within large metropolitan areas with an existing infrastructure of health centers and medical facilities. Bipolar sales reps are in high demand because this industry has more need than supply (which doesn’t occur within other business sectors).
Factors Affecting Orthopedic Sales Rep
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Want to learn more about orthopedic sales rep salaries? Let’s walk through some of the most important factors influencing this figure.
1. Level Of Experience
It is one of the most significant determinants of orthopedic sales rep compensation. Irrespective of the industry or company, experience is always rewarded with higher salaries for all parties involved. At the entry-level, orthopedic sales reps can expect to earn around $28k/year. However, after four years of direct work experience, an orthopedic sales rep can potentially make $60k/year.
2. Job Location
New Jersey will likely receive an increased wage for orthopedic sales representatives in 2017. This state has one of the best NJATC programs for these representatives and is also near many potential employers. Other large cities such as Los Angeles, Chicago, and Phoenix are ranked higher than expected because orthopedic sales representatives are in high demand. As the Bureau of Labor Statistics continually updates its data, you can expect these figures to change over time.
3. Potential Company Growth
As an orthopedic sales representative, you will earn more if employed by a growing company. Orthopedic sales reps who focus primarily on promoting health and wellness for their employer will see higher compensation than those in niche industries. As long as your company is experiencing growth, you can expect an increased salary in the future. However, this factor does not influence the NJATC or national average wage ($44,300/year).
4. Industry Growth Rate
Your industry’s growth rate can affect pay rates during different times of the year and when other organizations match their highest-paid employees with those within your industry. This year, a few companies in the field of nutrition have disputed their total salary figures in the news. If you are working for a company that isn’t growing (or shrinking), you will take a pay cut compared to hospitals and pharmaceutical companies.
If you are licensed, your orthopedic sales rep salary will be on par with those in other industries with this certification. The significant difference is that orthopedic sales representatives require much higher levels of licensure than most individuals in different employment sectors. For this reason, you can earn an average salary of $44,300/year, regardless of your experience and job location.
Other incentives for orthopedic sales rep
Apart from their salaries, Orthopedic Sales Reps get extra cash through commission schemes, promotional bonuses, and employer commission-free incentives. You should be able to earn up to $1000/month through these means.
What orthopedic sales reps Do?
These sales reps are employed by orthopedic device manufacturers and are paid to educate medical providers about the latest developments in their industry.
Most of their time is spent meeting with these medical professionals, examining new products, and providing them with technical support. Reps may also attend conferences and events to gather more information about the latest technologies for their company’s products. Technical support representatives in other industries traditionally do this service. Still, it has been placed under a sales department umbrella because of the need for additional marketing services.
In conclusion, orthopedic sales reps earn high wages for those employed by certain companies. Medical professionals usually purchase the latest technologies, and these reps can significantly contribute to their company’s success. It is also not unusual for orthopedic sales representatives to become increasingly educated on the techniques and procedures used in their industry. If you are determined enough, you may earn over $60k/year if you have five years of experience.
Frequently Asked Questions
1. Can Orthopedic Sales Reps Be Exposed To Diseases?
In most cases, no. This industry is considered safe for employees because of its frequent use of sterile materials and equipment.
2. What Is A Successful Orthopedic Sales Rep?
A successful orthopedic sales rep is an individual who can build relationships with medical professionals and encourage them to purchase the latest products in their industry. This type of financial success is measured by the number of individuals you persuade to buy devices or provide treatment services provided by your employer.
3. How Are Orthopedic Sales Reps Paid?
This part of the sales industry operates under variable pricing. You can earn up to $2000/month as a single individual or a group in your company. However, this figure is determined by the number of new purchases your group has made in a given year. Other incentives are usually offered for reaching certain levels of sales attainment, but these figures may vary between employers and medical providers within your state.