In 2014, the average sales manager earned $56,818 annually, but today, they earn $73,952 a year. That works out to a 12% change in pay for sales managers over the last decade. Sales managers have a positive job outlook and often earn a competitive salary. Specific industries may offer more income for sales managers compared to others. Working in professional, scientific, or technical services may earn you a median annual income of $165,050. Sales managers in finance and insurance earn slightly less, with $164,990 in median annual income, according to the BLS 14.
How do Sales Managers Rate Their Jobs?
The BLS expects sales manager positions to grow 6 percent from 2023 to 2033, a rate on par with the national average for all occupations. Organizations and industries are expected to add 48,600 positions to the field during the decade leading up to 2032 17. Sales manager positions will continue to grow as workers leave the profession for other positions or retire. Companies also need sales managers to create strategies that will help them grow.
Latest Sales Jobs
It’s important to factor in commissions when it comes to a position as a sales manager. Your education, experience, industry, and location may influence your salary, but you may also earn more in addition to your annual salary based on sales or other goals. For instance, Glassdoor reports a sales manager’s average annual base salary as $85,713, but with extra pay, the annual salary rises to as much as $169,730 4. This compensation could come as a percentage of your sales, or your company may use another structure, like a territory volume commission, which considers your geographic region. Sales Manager manages the sales teams and supporting operations to implement the organizational sales strategy and drive revenue growth. Researches and promotes techniques, tools, and structures to support the sales process and Sales Manager (outstaff/outsource) job meet defined sales metrics.
Sales Manager Education and Experience
The highest-paying states for sales https://wizardsdev.com/en/vacancy/junior-at-qa-engineer/ managers are New Jersey, New York, and Delaware. The lowest average sales manager salary states are North Dakota, Nebraska, and South Dakota. According to the US Bureau of Labor Statistics (BLS), sales managers make an average annual income of $135,160 1. An entry-level Sales Manager with less than 1 year of experience earns about $130,786. With 1-2 years of experience, the average salary increases to $131,653.
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Factors such as your experience in the field or your level Software development of education may boost your potential earnings as a sales manager. Where you live may also impact your salary, including the demand for sales managers or the cost of living in a particular location. Depending on your specialties or interests, working in some industry sectors may earn you more income than others. Sales managers may also monitor customer trends, coordinate a sales staff, and develop plans for their staff to sell products to businesses and consumers.
- The highest paying types of sales managers are senior sales manager, technical sales manager, and general sales manager.
- Sales manager salaries at Capgemini and Google are the highest-paying according to our most recent salary estimates.
- For instance, Glassdoor reports a sales manager’s average annual base salary as $85,713, but with extra pay, the annual salary rises to as much as $169,730 4.
- Being a Sales Manager monitors customer feedback and insights and collaborates with internal stakeholders to identify and suggest new products.
- Sales managers oversee sales representatives, setting quotas and providing training to facilitate their success.
- In contrast, sales manager positions in the San Jose, Sunnyvale, and Santa Clara areas earn an average of $214,590 in median yearly salaries 13.
Sales manager salary is impacted by location, education, and experience. Bureau of Labor Statistics estimates the number of people working as sales managers will increase from 469,800 to 493,600. The highest-paying cities for sales managers are Jersey City, NJ, New York, NY, and Washington, DC. The salary of a Sales Manager in the United States varies depending on several factors, including experience, location, education level, marketing trend and company sizes.