Economy's Improvement leads to Improved Salaries
According to the 2007 Sales Salary Survey, selling continues to be a rewarding career choice. The average size of the companies is reflected in the total sales of $24,050,000.
According to executive, the average total compensation for sales increased from $95,000 in 2003 to $114,900 in May 2007. This represents the improved economy and retail industry.
Sales commission trends, however, have not increased. In fact, the level of sales commissions paid deteriorated from 6.3% in 2003 to 4.9% in 2006.
It's probable that the competitive pressures will continue to grow as more marketing dollars move in-store. Formal sales training is a must in today's market. This can make a dramatic difference in a businesses success. Sales training, executive coaching, and hiring are modest investments that can generate a return several times over.
Generally speaking, the most successful companies in the industry are the most stable and keep their management and sales teams together.
The structure of compensation continues with a measure of stability and incentive. A full 87% of businesses provide a salary.
Sales continues to be a rewarding profession for many. In 2006, 26% of the people in the industry earned over $140,000.
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