The salary associated with a position may not be the primary motivation, but it is certainly important for individuals to ensure they are receiving the pay they deserve, and, if not, to take steps to resolve the problem. Sales manager jobs frequently vary, and involve different levels of responsibility, meaning the salaries attached can also vary significantly.
The amount offered for a role depends heavily on the type of company it is with, and the location of the position. This article will explain the types of salaries that individuals interested in progressing into sales manager positions can hope to earn, where the best jobs are located, and how current sales managers can maximise the amount they bring home.
Variety of roles
Sales manager jobs come in many shapes and sizes, with large companies often having various manager roles, including regional, national and international positions or even a role for specific category, product or services. The salaries often include a performance-related element, meaning it can be difficult to estimate a fixed salary for this type of work. A Guardian survey suggests most sales managers earn between £30,000 and £40,000 a year, and that 90% take home a salary that exceeds £27,000 a year.
The figures also reveal that a quarter of sales managers earn more than £55,000 a year, while 10% of them earn over £70,000, highlighting the potential to earn a substantial amount in this line of work. Males were found to earn an average salary of £49,147, while females averaged a much lower £37,302.
Location
As with many roles, London is an excellent place to be a sales manager. The average salary in the London area is around £10,000 higher than it is in the East Midlands, its closest rival in England. The higher costs associated with living in London do need to be taken into account, however.
Sectors
Areas with thriving IT and internet companies in them tend to offer the greatest opportunities, as the average salary for sales managers in this booming sector is £70,000. Banking and finance sales managers, who earn the second largest sales manager salaries, average £55,000 a year.
Progression
Anyone who is currently working as a sales manager, but feels they should be earning more than they are, can take steps to increase their salary in several ways. The most obvious is to look for another job that pays more.
To be successful in this aim, individuals may need to consider training courses where they can develop their sales and management skills. However, some sales managers already have the skills and experience required to progress; they are simply restricted by the size or structure of the company for which they are working. These individuals will often benefit from simply moving to a larger company that has greater resources available.
Another option is to consider relocating to an area such as London where higher average salaries are available. In a similar vein, changing focus, from an industry that offers relatively low salaries to a booming one such as IT, is another step individuals can take to swell their wages as long as they have the necessary skills.
Individuals interested in this course of action should consider using a sales recruitment agency to help them identify appropriate positions, and ensure they are fully prepared to succeed during the recruitment process.