OEM Medical Device Sales Salary - Negotiations
Trying to short story this: Recruiter contacted me about opportunity to make 100-160k Base + up to double in commission (100-160k) potential. Guaranteed 40k per year in commissions as a minimum. 15K Net relo package. Work location is Reno, NV Got offered low band 105K, asked for 135k and was provided a bump to 120k. I don't have medical device/management experience as they stated and that's why my band was placed there. I do have 8 YoE in engineering and OEM sales. The HR manager called me and said they understand the salary is below my ask, but they have had 80k and 130k in commissions from the last OEM sales mgrs in the last year. Should I take this job or pass and hope they will come back higher? Other info: TC 130K Live in Charlotte NC Offered 154K TC locally Cost of living difference is 15-20% higher in Reno than Charlotte, homes are roughly 80% more expensive. Have family in NC and don't pay rent.
Last oem commissions doesn't mean anything. Ask them if 40k is guaranteed, they can add it to your base and give you a lower commission. I find it a bit shady being in medical devices. A clear salary and comp model is one of the first things I'd look in a company.
He is in sales, that's how they typically work. IMO, he has a good enough base already, and will learn more in sales commissions. What is the sales commissions structure?
In Charlottes Ville these are some fly numbers!
Stay in NC. Definitely.
Are you selling oem medical devices to doctors or are you selling oem components to medical device engineers? Are you sure about 80% more expensive? A couple cost of living calculators indicate similar: https://www.bankrate.com/calculators/savings/moving-cost-of-living-calculator.aspx $120+$40 = $160 is comparable to $157 in Charlotte. If $80k is achievable than $120 + $80 = $200, better than Charlotte. Reno is a short trip to Las Vegas and San Francisco- you can have a lot of fun. If you are selling to docs, it can be some great new experience that will open up a lot of new doors for you. If you are selling to med device engineers, be aware that medical device quantities are in the 1k to 100k vs 10-100M in consumer electronics and consider how that impacts your commission structure.
Update: they upped guaranteed commissions to 50k 1st yr 40k second. Relo 15k net, 120k base salary. 1st year TC goes to roughly 200k. I am going to sell medical devices to OEM companies, designing to their needs and specs for applications. I decided to take it with the earning potential
Good luck! It depends on how the territory looks when you walk in. If you end up in a case where your clients are early in the new product introduction process, it could be a long time before those large orders transitioning from R&D to production start showing up. Of course this depends on the class of med device and the company, but I would allow for at least 2 years for class 2 devices. Hopefully your commission structure helps you in some ways.
I am med device as engineering and I am impressed with your numbers , mind if I DM you ?
You sure can. Still debating the offer.