Annually, U.S. businesses spend $800 billion on sales force compensation and $15 billion on sales training programs. According to Forbes, sales representatives of technical and scientific products make $84, 360 annually in salary and commission. Salespeople involved in wholesale and manufacturing based companies, within the scientific and technical arenas, have the potential to make over $200,000 per year. These individuals normally hold post-secondary education degrees and are involved in scientific areas including biology, engineering, chemistry, and electronics.
Jacquelyn Smith, Forbes Staff writer, posted an article entitled 10 Companies that Pay Salespeople Really Well, in which she discusses a study conducted by Glassdoor and Forbes. The study showcases the 10 highest-paying companies in wholesale and manufacturing units. The study identified SAP as the top company for highest salaries related to sales positions. Employees have an average salary of $110,114 with an additional commission of $99,431, totaling $209,545. To say the least, the sales industry is a very lucrative market. CA Technologies has been rated as the second highest-paying company for sales positions. Salespeople are paid an annual salary of $106, 542 and earn $87,481 in commission. Therefore, totaling $194,023 each year.
Monster states that the chances of landing a six-figure sales job decrease as age increases. Dona DeZube, Monster Finance Careers Expert, identities three distinct sales positions that highlight service-related industries in which are currently offering salespeople top notch salaries. The first position deals with consulting sales. According to DeZube, “Companies that sell their expertise to other companies recruit high-GPA students from select universities.” The base salary of a consulting salesperson ranges from $120,000 to $250,000, with commission varying from $25,000 to $3 million. Sales in the digital ad market continue to grow while traditional media units such as print, broadcast and cable are shrinking. On average the base salary ranges from $170,000 to $180,000. With commission rates between $130,000 to $220,000. Lastly, software salespeople know how to successfully combine consultative sales with the technology and innovation. Annual base salaries start at $80,000 and kind be as high as $100,000. Commission rates are even higher, with software salespeople making between $250,000 and $1 million.
BoweryJE22
There is certainly the potential for a lot of money to be made as a sales representative! One of your statistics said how the numbers were based on salespeople who come from undergraduate programs, in fields of study related to technical or scientific majors. I would be curious how these figures change for entry level sales people coming from business or entrepreneurship backgrounds, like many of us here at GCC.
I think it’s interesting that the Monster article said the chances of having a high paying sales job decreased as age increased. I wonder if that is because an older person isn’t as relevant? Or could it be other factors too? Good post!
I love the statistics and links you use in this! You’re clearly well-researched on this topic. I wonder how much variance there is in those averages. It would make sense to me that sales jobs are some of the most varying paying jobs on the market. It would be cool to match up maximums and minimums alongside the averages.