The profile of sales manager is considered to be a very important position in an organization. This is so because he is one person who is responsible for making sales happen. He is the one who leads the team of salesperson and coordinates with other departments to make sure that company sales are on the rise and product offerings are delivered to the customers. They have a critical role to play because of which they are offered quite handsome salaries. The salaries that they get depend on various factors like industries and the location in which they have been placed.
This article brings complete information concerning the salary of the sales manager which has been categorized on the basis of industry, location and the future prospects of this job profile. If you are planning to apply for this job profile then you must have complete information on how much salary you will be getting.
Average Salary for Sales Manager
As per the Bureau of Labor Statistics, the average annual salary of a person working on the profile of sales managers is approximately $105,260 in May of 2012. The highest and the lowest paid 10% earned more than $187,200 and less than $52,950 respectively, which is an indication that there is quite a lot of fluctuation in the profile of sales manager. There are various reasons for such kind of fluctuation which include reasons such as the state in which the individual is working, his educational background, the size of the company with which he is working, his experience in the field and also the industry in which he is working. All these factors contribute in the package of a candidate.
Salary of Sales Manager as per Industry
it is very important to study the status of salary as per industry. Almost all the industries require sales managers but one industry which pays them with the best of the remunerations is the stocks and commodities exchange sector. They are paid an average salary of $216,300 per year. The next best paying industry is the securities and commodities contracts intermediation and brokerage industry. In this sector, they are paid about $191,220 annually. In other industries, the average package for this profile is about $182,340 per year. They are paid around $171,520 per year in the investment pools and funds industry. In the apparel, piece goods and notions merchants industry, they are given a remuneration of around $165,110 annually.
Salary for Sales Manager as per Location
Location is one of the most important factors which cause variation in salaries of a sales manager. The salary package of this profile is highly dependent on the state in which he is placed. As per Bureau of Labor Statistics, the topmost five states that are known for making highest payments to sales manager are the following:
- New York, which pays around $174,210
- Delaware, where an average salary of a sales manager is $162,060
- Massachusetts, which pays approximately $139,000 to sales manager
- New Jersey, which pays $138,200
- Rhode Island, which pays $134,610 annually to sales manager.
Future Prospects of Sales Manager
Before applying for this profile, you must know how bright the future of this profile is. As per Bureau of Labor Statistics, the sales manager jobs will increase at a rate of 8% from 2012 and 2022 which is quite the same for all the industries. This profile is one of the very important positions in the company and the job security will depend on the performance of the company which is employing the candidate. The success or failure of the company will determine the job security. As this is quite an important and essential position, the chances that it will be contracted out are least. The future of this profile is quite promising. Though there is quite a lot of competition but it is a safe job.
How to Get Hired?
There are lots of people applying for this job. As the competition is intense, you need some tips to help you get hired for this profile.
- To make your mark, you can have a relevant Master’s degree in a good subject which can help you have more points.
- You can even have a recommendation letter from your previous employee talking about your performance or excellence at work.
- Highlight your experience in your resume in a smart and appealing way by talking about all the roles and responsibilities.
Keep these points in mind and surely you will stand apart. Despite high levels of competition, you will be able to get that job.