Salary for marketing and salary for sales must be competitive enough to ensure the right candidate lands in the position and develops into a valuable employee. Yet as a business owner or manager you must also watch your bottom line, especially since salaries and other pay compensation benefits can account for the majority of business budgets.
Use knowledge of salary guidelines for sales and marketing as a recruiting tool. Employees working for you--especially those in marketing and sales positions--represent the face of your company. Finding just the right job candidate to take the position and the company seriously is key to any new hire.
Choosing and maintaining good employees with a competitive marketing salary continues to be an important aspect of the hiring process. Along with other factors, sales salary helps retain productive employees. Several salary tools exist online to help you establish salary guidelines. When researching marketing and sales compensation, be sure to consider the following:
1. What are the job requirements? A sales rep salary is going to be different from data entry.
2. Marketing salary guidelines should take into account the candidate's previous experience in the field.
3. Salary for marketing professionals should include compensation for special training or education the candidate will bring to the position.
Action Steps
The best contacts and resources to help you get it done
Research other companies' salary guidelines for sales and marketing
With a little research, you will be able to find marketing and sales salaries, base pay rates and sometimes commission schedules and industry averages online. Keep in mind compensation policies in sales encompass many different factors including bonuses, commissions and other factors besides just salary.
I recommend: Check out the summary of research conducted by
Abbott, Langer Association Surveys in the marketing and sales field. Order the full report to get detailed findings. Find the national averages on certain marketing and sales jobs and then look at the comparison for your specific region at
CareerBuilder.
Get inside tips on adding compensation to salaries for sales and marketing
To motivate employees effectively, sales salary is only one aspect. To come up with a fair compensation package you may need to investigate policies based on benefits and perks.
I recommend: Sign up for a free newsletter from
80/20 Performance Inc. The newsletter includes access to sales and sales management tips and free mini courses. Read up on different sales commission plans and the factors that should be included in salary guidelines from
CellarStone, Inc.
Learn how to negotiate salary for sales
Salary negotiations must be taken seriously. You must walk the fine line of offering fair and competitive wages that also won't break the bank. Learn the techniques to negotiate effectively without turning off a potential job candidate.
I recommend: PayScale offers tips on how to manage negotiations.
Salary.com offers negotiating tips and other benchmarks that can be discussed with a potential employee.
Tips & Tactics
Helpful advice for making the most of this Guide
- When offering salary for sales, bundle pay with perks. Benefits can go a long way toward attracting talented candidates and boosting compensation. Consider mentioning employee contributions to health-care insurance, funding for retirement or flexible time.
The official source of Salary Guidelines for Sales and Marketing is
the Salary Guidelines for Sales and Marketing page at Business.com
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