The new year often means a new job search, and at least for medical device sales reps, this seems to be the case. Although most reps are content with their current position, they're still scouting out new opportunities in 2016, according to a new report from MedReps.com, a job board for medical sales reps.
MedReps surveyed more than 1,400 medical sales reps and found that even though half of medical device reps said that they were satisfied or somewhat satisfied with their job, a majority, or 82%, said that they would likely change jobs during the next year. The numbers could be attributed to changes in the industry, according to the report, as M&A, new research and policies prompt job turnover.
Two-thirds of reps said that they want to work at a company that sells medical devices or equipment, but they're not setting their sights on big name devicemakers. A majority, or 73%, of device reps want to work for a small- or medium-sized company with fewer than 10,000 employees. This trend isn't surprising, as 80% of the more than 6,500 medical device companies in the U.S. have fewer than 50 employees, MedReps pointed out in its report.
When employees do submit their resumes, though, the most popular places to work are Medtronic ($MDT), Johnson & Johnson ($JNJ) and Stryker ($SYK). Smaller device companies including surgical robotics outfit Intuitive Surgical ($ISRG) and vein imaging company AccuVein also rated highly among reps as potential employers.
Reps are attracted to devicemakers with strong product lines and a commitment to R&D. But corporate culture and opportunities for growth is what keeps reps happy at work, according to the report. Medical device reps also rated competitive pay and a healthy work-life balance as two key qualities they look for in potential employers.
- read the report