Neuromodulation Division

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Anonymous

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What's a realistic compensation (i.e. salary plus commission) for a Territory Manager their first year? Second year? I've heard the BSX pays a smaller commission percentage than both STJ and MDT.
 












It'd help me out to know this, too. No experience in SCS, but do have exp in capital OR sales and know a lot of the neurosurgeons in the area. For this position, I'd be moving to take the Chicago territory.
Been trying to do the research on this product and am being told 65k base with a small car allowance. My concern is that I'd be leaving a decent gig (albeit a SOB right now with the capital freezes), and I'm wondering if I'll make anywhere near $130 to $150k I can/am making now. Just getting tired of fighting for shrinking cap dollars.
I know MDT is the big kid on the block, but if there's a decent chance I can make it, I'll take it.
 






Anonymous said:
It'd help me out to know this, too. No experience in SCS, but do have exp in capital OR sales and know a lot of the neurosurgeons in the area. For this position, I'd be moving to take the Chicago territory.
Been trying to do the research on this product and am being told 65k base with a small car allowance. My concern is that I'd be leaving a decent gig (albeit a SOB right now with the capital freezes), and I'm wondering if I'll make anywhere near $130 to $150k I can/am making now. Just getting tired of fighting for shrinking cap dollars.
I know MDT is the big kid on the block, but if there's a decent chance I can make it, I'll take it.
Click to expand...

as a neuromodulation rep with any of the big 3 companies, you are going to make a hell of a lot more than that.
 






Anonymous said:
as a neuromodulation rep with any of the big 3 companies, you are going to make a hell of a lot more than that.
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I'm assuming Neuromodulation is the implantable stimulator division correct? I'm a device surgical rep in ortho right now, and was just contacted today about an opportunity with Neuro stimulation. Not even sure what company it's for yet, but thought I would start looking into it.
Question:
How is the lifestyle? My buddy works for BSX doing pacemakers, and they are doing dinners/programs 3 or 4 nights a week, and weekends. All high end places and fun and games to woo their docs business. Is this market like that too, or do you not get the expenses like they do?
What's average 1 and 3 year pay look like?
I appreciate any responses.
Thanks.
 






It all depends on the territory. You have a good chance of around 150k to start. Medtronic still has the highest neuro share but they are in a total free-fall to BSC and ANS (that is the real battle). QOL is fine-lot's of work, especially with patients. All cases are scheduled, car allowance, great benefits.

Neuromodulation in general is a very rapidly growing field.
 






The previous poster is 100% spot on - it all depends on the territory and the amount of clincal support they give you.

If you are in a rural territory, you will be driving 3-4 hours for some cases and followup. I can't count how many times I just got back home and one of my accounts called me for a programming. I had to turn around and drive 3 hours back. If you don't get any support, your QOL will SUCK.

The other issue is contracts. If you are locked out at the main accounts, you will basically be driving around programming patients who are already implanted without any chance for new business. I would be very diligent about finding out the state of affairs in the territory before you accept a position.
 






I asked this on another thread, but I didn't get an answer. Hoping someone visiting this thread may know the answer:
Do you know if the Chicago position was filled yet? If not, does anyone know if they are still looking, or is it frozen right now? Was told about this position by a friend, but didn't try for it. Now, I'm rethinking and if it's still open and they are still looking to fill it, I'm going to see if I can get in the running.
 






Anonymous said:
The previous poster is 100% spot on - it all depends on the territory and the amount of clincal support they give you.

If you are in a rural territory, you will be driving 3-4 hours for some cases and followup. I can't count how many times I just got back home and one of my accounts called me for a programming. I had to turn around and drive 3 hours back. If you don't get any support, your QOL will SUCK.

The other issue is contracts. If you are locked out at the main accounts, you will basically be driving around programming patients who are already implanted without any chance for new business. I would be very diligent about finding out the state of affairs in the territory before you accept a position.
Click to expand...

People looking at CRM opportunities should consider these as well...very much the same experience.
 






I have been told by a direct rep that there is currently a hiring freeze for open territories. However, if the hiring manager is interviewing to replace an existing representative, he/she can interview and hire to replace the current employee. I am unaware of the opportunity in your area though.
 






Anonymous said:
It all depends on the territory. You have a good chance of around 150k to start. Medtronic still has the highest neuro share but they are in a total free-fall to BSC and ANS (that is the real battle). QOL is fine-lot's of work, especially with patients. All cases are scheduled, car allowance, great benefits.

Neuromodulation in general is a very rapidly growing field.
Click to expand...

St. Jude (ANS) is rapidly taking market share from both sides, now with 1/3 of the market share in stimulator implants (that's not counting overseas sales). BSX lost more than 8% market share during the first quarter, and MDT is falling quickly to BSX and STJ most likely due to overwhelming evidence that Constant Current therapy is better than Constant Voltage Therapy in addition to having old blood still running their territories. Look at the end of the 1st quarter results for each company, you can make what arguement or skew the arguement any way you want, the fact is - St Jude's number's are posted and those numbers are only getting higher going into the end of Q2. I think all companies therapies work and their is a niche for each, however St. Jude is the next big ticket item with nine new products that came to the market at the end of 08, and a pipeline full of products that will revolutionize neuromodulation to round out the end of this year. How many new products have the other companies come out with? At the close of the day, STJ ticker was 41.40, BSX was 10.30, and MDT was 34.50. Consider your long term/short term future with which ever company you choose. St Jude has a 2% attrition rate of ALL employee's, not just sales - a true testament to the satisfaction/dignity/respect/compensation of a top Fortune 500 company.
 






Anonymous said:
St. Jude (ANS) is rapidly taking market share from both sides, now with 1/3 of the market share in stimulator implants (that's not counting overseas sales). BSX lost more than 8% market share during the first quarter, and MDT is falling quickly to BSX and STJ most likely due to overwhelming evidence that Constant Current therapy is better than Constant Voltage Therapy in addition to having old blood still running their territories. Look at the end of the 1st quarter results for each company, you can make what arguement or skew the arguement any way you want, the fact is - St Jude's number's are posted and those numbers are only getting higher going into the end of Q2. I think all companies therapies work and their is a niche for each, however St. Jude is the next big ticket item with nine new products that came to the market at the end of 08, and a pipeline full of products that will revolutionize neuromodulation to round out the end of this year. How many new products have the other companies come out with? At the close of the day, STJ ticker was 41.40, BSX was 10.30, and MDT was 34.50. Consider your long term/short term future with which ever company you choose. St Jude has a 2% attrition rate of ALL employee's, not just sales - a true testament to the satisfaction/dignity/respect/compensation of a top Fortune 500 company.
Click to expand...

Agree on almost all points above. STJ is kicking the crap out of both companies. They also understand the importance of the sales rep in this battle, that is why they are winning...in addiiton to new products. Boston can spin their technology any way they would like...and all the reps drink the koolaid. But the fact is, it is getting real stale. They havn't had a significant product launch in 5 years, docs know this. MDT you can say what you want about them, but they still own 50% of the market and are #1. Yes they are losing share in stim, but they are the only game in town with drug delievery which makes up a significant amount of their revenue on both pain and movement side, and they are leading the way on the deep brain side by a long shot. St Jude will be a player there soon as well. Deep brain is where all the action will be over the next 5 years. Will Boston ever even be a player in that market??? St. Jude is currently the big winner, and Boston is currently the biggest loser
 






Does StJ hire new reps? I'm in device now, but not doing neuromodulation. Or is BSX and Medtronic my only chance at getting into this arena?

Also, does the average pacemaker rep make a good chunk more money than the average neuromod rep?
 






Anonymous said:
Agree on almost all points above. STJ is kicking the crap out of both companies. They also understand the importance of the sales rep in this battle, that is why they are winning...in addiiton to new products. Boston can spin their technology any way they would like...and all the reps drink the koolaid. But the fact is, it is getting real stale. They havn't had a significant product launch in 5 years, docs know this. MDT you can say what you want about them, but they still own 50% of the market and are #1. Yes they are losing share in stim, but they are the only game in town with drug delievery which makes up a significant amount of their revenue on both pain and movement side, and they are leading the way on the deep brain side by a long shot. St Jude will be a player there soon as well. Deep brain is where all the action will be over the next 5 years. Will Boston ever even be a player in that market??? St. Jude is currently the big winner, and Boston is currently the biggest loser
Click to expand...

Obviously no bias here.
 












A pacemaker rep makes slightly higher than a neuromodulation rep. Plus, it's a more sought after specialty for extending a career. My advice to pacemaker reps is stay where you are.
 






Women's Health Division

What is the Women's Health Division like? How much money can you expect in this division? What are the hours/QOL? Management over there? Base and commission? etc
 






Does anyone in the Neuromodulation world know if there is a full line territory open in the Washington DC Metro Area? I hear St Jude has the best upside.

Any info, please let me know.

Thank You
 












Anonymous said:
Agree on almost all points above. STJ is kicking the crap out of both companies. They also understand the importance of the sales rep in this battle, that is why they are winning...in addiiton to new products. Boston can spin their technology any way they would like...and all the reps drink the koolaid. But the fact is, it is getting real stale. They havn't had a significant product launch in 5 years, docs know this. MDT you can say what you want about them, but they still own 50% of the market and are #1. Yes they are losing share in stim, but they are the only game in town with drug delievery which makes up a significant amount of their revenue on both pain and movement side, and they are leading the way on the deep brain side by a long shot. St Jude will be a player there soon as well. Deep brain is where all the action will be over the next 5 years. Will Boston ever even be a player in that market??? St. Jude is currently the big winner, and Boston is currently the biggest loser
Click to expand...

STJ is doing a nice job of raiding the BSC/MDT talent cookie jar. They have poached a lot reps and will continue to do so in 2011
 






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