We’ve taken a look at average salaries for medical device sales in the UK, so we thought it was high time to do the same for European sales professionals. We’ve mapped the market over the last year to bring you the latest salary and bonus insight. Without further ado… here it is!
Average earnings by role
National Sales Manager – €95,000
Regional Sales Manager – €82,000
Account Manager – €61,000
Territory Manager – €59,000
Product Manager – €54,000
Clinical Specialist – €51,000
For more medical device sales salary information, download our European Salary Report 2019 here.
Do salaries differ country to country?
There are, naturally, variations in salary for medical device sales people between European countries but generally these are minor across most levels and reflect adjustments due to cost of living and other external factors. You can find out how salaries in continental Europe compare to those in the UK by looking at this blog.
Within continental Europe, salary differences can ramp up as you get to the very top level, however, and this is often reflective of the work culture of a country. For example, sales leadership roles are incredibly sought after and respected in Germany, which means those in an NSM position or higher in the medical device sales space can sometimes earn up to €25,000 more than their counterparts in other European countries.
Typical bonus schemes
The bonus schemes for medical device sales in Europe usually depend upon seniority.
Territory Managers can expect to have a capped bonus scheme as these are far more common than uncapped. Usually these earn TMs between 30 and 50% of their basic salary. Capped schemes are more popular as they reduce the threshold to achieve bonus (and the amount reduces proportionately) which means that they receive regular, modest bonuses. This seems to be more motivating to Territory Managers than sporadic high value ones!
Regional Sales Managers are usually uncapped. The threshold for these is calculated on a combination of direct sales and on an override scheme based on how well their direct reports perform. It’s rare to see a capped scheme for RSMs in Europe.
National Sales Managers are also typically uncapped and, similarly to RSMs in medical device sales, work on an override basis with the threshold being the cumulative target drawn from the entire sales team. Bonuses can fluctuate enormously depending on how well the team is performing, but typically pay out around €45,000.
Want more insight on European remuneration packages?
If you’re interested in finding out more about what European medical device sales professionals have in their remuneration packages, including, download our first ever European Salary Report here!