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No matter the field, market awareness matters. If you’re in trading, real estate, whatever widget your company sells, or for today’s purposes – hiring.
Key thing to note:
👉Data without context is meaningless.
If you don’t understand the subject matter and limitations of the data sets, you’ll draw the wrong conclusions. And make bad decisions.
Case in point: salary data. We pull salary data from multiple sources and provide it to our clients, free of charge. It’s important in making a hiring plan. But it’s equally important to know where it can be off base. (Or where is “hallucinates” as the ChatGPT nerds call it.)
If I had a dollar for every time someone went to a free online salary calculator and said “the internet says I’m worth $XX a year” and it was nowhere near accurate, I’d wouldn’t still be posting on LinkedIn like a dork.
Real data on Account Executive (4-7 year) and Sr. Account Executive (7+ year) salaries, 2023 vs 2024, US market, technology/software sector.
👉AEs: Jan 1 2023 vs Jan 1 2024
•25th-75th percentile base range: $85.5k-$114.7k vs $89.3-122.4k
•50th percentile base midpoint: $98.8k vs $104.7k
•25th-75th percentile total comp range: $97.9k-139.9k vs 101k-148k
•50th percentile total comp midpoint: $116.2k vs 121.4k
👉Sr. AEs: Jan 1 2023 vs Jan 1 2024
•25th-75th percentile base range: $106.3k-$141.1k vs $111.6-150.8k
•50th percentile base midpoint: $123.1k vs $130.3k
•25th-75th percentile total comp range: $124.6k-176.6k vs 129.6k-188kk
•50th percentile total comp midpoint: $147.5k vs 155.2k
All true facts. Wage inflation in the 5-6% range, which tracks any Google-able source.
But…things were a little different this year, no? Some industries got crushed while others thrived. Not to mention in sales, the size of the companies you sell to directly impacts your comp.
👉Salary ranges our GTM recruiting team is seeing today, from companies hiring AE’s and senior AE’s, based on the size of companies they sell to:
•SMB: $75-90k base; $120k+ OTE
•Mid-market: $90-120k base; 50/50 split
•Low enterprise: $125-130k base; double OTE
•True enterprise: $150-170k base; double OTE
A very different story, depending on your company’s sales focus.
Data’s great. But if you aren’t familiar with gaps, you’ll probably draw the wrong conclusions.
Partner at Hirewell. #3 Ranked Sarcastic Commenter on LinkedIn.
In this episode of The Balancing Act, host Sarah Sheridan interviews Kate Dohaney, the global CEO of Orb Group and mom to two. Kate shares her unique path from performing artist to executive leader, detailing her transition through the music industry, advertising, and major roles at The Wall Street Journal and NewsCorp. She emphasizes the importance of resilience, being data-driven, and the power of surrounding oneself with the right people. Kate also discusses the challenges and rewards of balancing a high-powered career with motherhood, offering motivating insights for aspiring female leaders. Tune in for an inspiring conversation about career evolution, leadership, and family.
Episode 4