Sales Manager Salary
A Sales Manager is an executive at an organisation whose job is to lead the sales team and develop an effective sales strategy. In small companies, the Sales Manager takes ultimate responsibility for the entire sales operation within the business. In larger organisations, a Sales Manager is tasked with responsibility for one particular product or service, and he or she must report in turn to a Director of Sales who oversees the Sales Managers of various branches.
In either case, the work demands a challenging mixture of social and analytic skills. Sales Managers must motivate, train, and push their salespersons to achieve peak performance. They must also be experts in the industry, knowledgeable about the most recent developments affecting their business, strategic when dealing with clients, and carefully vigilant for opportunities to enter new markets or reach new clients.
Sales Managers must also take charge of marketing operations, implementing new marketing initiatives, collecting data about their efficacy, and analysing the results of each campaign. They must also set sales goals for each region under their charge, make forecasts to help with the annual budget, and adjust prices based on supply and demand.
Benefits of Becoming a Sales Manager
The non-monetary benefits of working as a Sales Manager are tremendous; this is a highly social role that allows the most talented salespersons to take charge of teams, both large and small, inspiring them to do their best work. It is a position that puts an individual at the very heart of the business, allowing them the satisfaction of knowing they serve an essential function and largely determine the success or failure of the company.
As a Sales Manager, you are constantly forced to adapt to fast-changing circumstances and solve tough logistical problems at the spur of the moment, this means that individuals learn a wealth of invaluable skills as they increase their value in the job market and prepare themselves for positions in the upper echelons of a company. For those who thrive in demanding, high-stakes work, this job provides something to be excited about and deeply engaged with every day. Of course, one of the biggest benefits of being a Sales Manager, though, is the salary.
Typical Salary for a Sales Manager
The median annual salary for sales managers in the UK hovers around £42,000, while the average annual salary is over £47,000, this translates to a median pay of £3,500 per month and an average salary of nearly £4,000 monthly, or roughly £1000 for every forty-hour week. Of course, as with most sales jobs, Sales Managers often also earn commissions and bonuses, which can rise to about £15,000 extra, per year. So the total earnings for Sales Managers in the UK range up to roughly £68,000.
Sales Location, Location, Location
As with real estate, location is exceedingly important when it comes to determining the salary of a Sales Manager in the UK. Managers in London earn 9% more than the national average, while their counterparts in Manchester earn about 5% more than the national average, and those in Birmingham earn just 1% above the average pay nationwide. These major manufacturing and business centres are hubs of business and home to countless large multinational companies.
How to Boost Your Sales Manager Pay
There are many skills in the business world that can increase your net worth and lead to higher earnings. For Sales Managers, the five leading skills that send salaries skyward are:
- Expertise in Strategic Sales: Those with certifications or proven competence in strategic sales typically earn 9% above the national average.
- Sales Management Skills: Those with accredited professional training in sales management earn 1% more than the national average.
- A Talent for Negotiation: Proven negotiation skills and experience leads to pay increases of nearly £5000 per annum.
- Coaching Ability: A Sales Manager that can make other salespeople within the company better at their jobs is an incredibly valuable resource, and his or her earnings almost always reflect this fact.
- Experience with Hiring: In the same vein as coaching expertise, the ability to recognise and hire top talent is tremendously important. It increases the bottom line, makes things run more smoothly in the workplace, and earns Sales Managers significantly higher pay.
What’s Next in Sales Management?
The most ambitious and motivated business people are always looking ahead to what’s next. A current position is a gateway to advancement, new skills, and personal development. So when talented Sales Managers leverage their experience to move on to bigger and better things, they have many options for advancement.
Regional Sales Managers become National Sales Managers who eventually become Sales Directors, the Managing Directors of Sales & Marketing, or International Sales Managers. From there, the next steps are the top positions of Business Development Director and CEO.