Overall, a VP of Sales in this industry could expect to earn an average base salary ranging between $190-250K. We talk a good game, but nothing happens until we’re accountable. If you are a VP of Sales, who wants to get promoted to Chief Sales Officer, this eBook is for you. They normally supervise and manage a number of sales managers to ensure that product development and sale strategies are being implemented …Read more. From compensation planning to variable pay to pay equity analysis, we surveyed 4,900+ organizations on how they manage compensation. The national average salary for a VP Sales is $163,520 in United States. Our CEO, Eliot Burdett, told Business Insider, “In a really good year, a top salesperson at these companies can earn $1M.”. By reading this eBook, you will get 4 things: 1- An understanding of what CEOs are looking for when hiring a Chief Sales Officer. He may have to manage high-profile client accounts directly or indirectly. Business Insider examined salaries for sales professionals in this industry in 2013, and found that a VP of Sales who delivered on-target results earned approximately $400K per year. Listen. Many if not all have been promoted from the ranks of the sales team, but the qualities that make a great salesman do not necessarily make a great sales executive. Which means it’s not optional. Why do people leave their jobs? The average salary for a Vice President (VP), Sales is €131,402. He determines and monitors the department's key performance indicators (KPIs) such as revenue vs. plan, contact rate, quote closure rate and gross profit percentage. Use our tool to get a personalized report on your market worth. If you came up in a 100% in-bound environment, don’t pretend you know how to build an outbound team. How much does a VP Sales make? The best VPs of Sales make sure sales goals are specific enough to warrant highly specific tactics. Future growth is also expected to maintain a slow and modest upward trajectory, as shown in the table below: The foundation’s data that indicates both iron/steel products and mining/gas field machinery manufacturing industries have taken particularly hard hits recently. They understand the sales team thrives off of incentives. With a title of VP of Sales for this industry, the study reports an average salary of $158,750 per year plus as much as $58,929 in bonuses–for a total of $217,679 per year. Compensation for a VP of Sales position varies widely. Stay up to date on the latest compensation trends. Typically, new and existing employees in the sales department go through a training program to keep them abreast of sales practices and changing company policies. How the salary history question affects pay equity. It is the responsibility of the V… You hire a VP Sales not to sell, but to recruit, train and coach other people to sell. Do you know what people like you are earning? It should be noted, however, that base salary and on-target earning potential varies significantly between companies, and that bonus ‘splits’ are impacted by company size, growth potential, and sector, and are typically offset by company equities. The average salary for a Vice President (VP), Sales & Marketing is $132,157. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. Looking at the 2015 Pharma Salary Report that reviewed data from more than 3,000 medical and pharmaceutical sales professionals, hiring managers can get a comprehensive view of what a VP of Sales in this industry can expect to earn. But tomorrow’s VP of Sales will be far more metrics-oriented across the entire pipeline, including the marketing metrics that contribute to their pipelines. Stick with service-related industries or market big-ticket, high-margin items sold to businesses, rather than consumers. Those with 20+ years of experience, on average, earned a base salary of $100K or more, with additional annual compensation of $40K+ on top of that. Finding The Right VP of Sales for Your Organization. VP of Sales Postscript Remote, US 2 days ago. It’s interesting to note the difference between salaries within this industry for pharmaceutical versus specialty pharmaceutical, however, it shouldn’t be surprising to see higher incomes in the specialty pharma category (as specialty drugs for less common diseases typically come with a higher price tag.). Visit PayScale to research vice president (vp), sales salaries by city, experience, skill, employer and more. In order to attract the most suitable and qualified candidates, it is essential that organizations design compensation packages that are tied to the right goals; that offer simplicity and ease in comprehension; and most importantly, meet or exceed what the market is bearing. Read this to learn more about it. Too many first-time VPs of Sales pretend they’ve done it all. Designed by Elegant Themes | Powered by WordPress. Rapid growth over the past 10 years on the mobile side of telecommunications has created an aggressive sales market, as seen in the data from IBM below: So what can a VP of Sales expect to earn at large and mid-sized telecom and information technology companies? Mistake #5: Your VP Sales must be accretive, not a cost center. Tiered Commission. We deliver guaranteed results, and our unrivalled success rate helps accelerate sales, reduce operating costs, and enhance HR effectiveness, company valuations and investor confidence. Great Sales VPs also know how to motivate salespeople. The good news for VP Sales candidates is that the average incomes within the pharmaceutical sales industry is on the rise, with a 5% increase over 2014. ( such as East or West coast ) or on a national level the “ ”... 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