Tracking salary trends is important for companies and job seekers. With the rapid pace of change and sheer number of companies and positions, it’s hard to find reliable salary data.
Job seekers have the upper hand right now, especially when it comes to Sales talent. Unemployment is low, and businesses are looking to increase market share by hiring more Business and Sales Development Representatives, Account Executives and Client Success Managers. And so, while job seekers definitely want to know their worth, companies must also know what to expect to pay for these positions.
To make things more complicated, structuring compensation for sales teams typically involves performance-based variable compensation. This can account for 25 to 75 percent of a sales professional’s OTE (on-target earnings).
But we have an answer for that. We’ve developed a tool to aggregate public-facing salary information with our own data. With this data in hand, we can discuss what we’re seeing across the Sales sector, as well as salary ranges for the top positions in Sales.
This helps all of us make informed decisions. It also helps us help you.
What We’re Seeing in Sales
The demand for Sales talent has taken off dramatically, especially in the Tech industry.
The Sales sector is also increasingly streamlined, focusing on building inside sales teams and hiring more Business and Sales Development Representatives.
And trending towards separating sales and account management (post-sales). The person who sells the product isn’t necessarily the person who’s best to manage the relationship day-to-day. This is why you now see Client Services Managers or Customer Success roles.
Most companies realize that there’s a playbook for Sales, and the biggest trend is having a plan. A solid approach is no longer just about sales, but building a sales machine.
Business and Sales Development Representatives generate leads, Account Executives take qualified leads and turn them into paying customers, and Client Service, Customer Success, or Account Managers on-board and maintain clients to ensure they stay happy and renew. There are clear tasks and roles. Hire a strong team, and give them responsibilities that fit their strengths.
Sales candidates need to know their worth—and so do the companies hiring them. Today it’s all about building a sales machine. And we’re all about transparency, setting expectations and making sound decisions.
Hirewell is Your Partner in Understanding the Current Salary Trends for the Roles Your Organization is Looking to Fill
We’re also here to provide you with the insights you need to make smart decisions.
Finally, our data is specific to Chicago, but if you want to compare data in Chicago to other cities, we recommend you visit Nerdwallet’s cost of living calculator.