Sales directors are responsible for the overall direction of the sales team, and for ensuring that sales targets are consistently met or exceeded. Sales director jobs involve delicate man management skills, along with the ability to make pressurised decisions. These responsibilities mean sales directors are able to demand a high salary for their work, which increases exponentially as the size of the company offering the position also rises.
This article will explain how sales directors can improve their salaries, and ensure they are being fairly compensated for their services.
Variety of roles.
Sales director salaries are influenced by many factors, including the location of the position, the market sector it is in, and any benefits packages that are associated with sales director jobs. The company's size and structure is also hugely influential in deciding the final salary, as is the individual's level of skill and experience.
The Salary and Employment Insights Series found that sales directors and national sales directors receive similar salaries, and that the financial services sector can be the most profitable in which to work. The IT and technology sector came a close second.
The salaries earned, on average, by sales directors vary considerably depending on the job's location. Those working in London-based IT roles earn a minimum salary of £41,000, and a maximum of £116,000 a year. The same position, but based in the Midlands or the north, will see the individual earning between £40,000 and £100,000.
Scotland, meanwhile, is able to rival London, offering the same level of average salary, combined with the incentive of much lower living costs.
Individuals working as sales directors in the financial services sector average between £50,000 and £121,000 in both Scotland and London.
However, Yorkshire-based roles were revealed to be competitive with London and Scotland. Another study showed that the average salary for sales directors across all sectors in Sheffield was £60,000, while Leeds could offer £59,332 and London £61,298.
Sales directors are usually already sitting at the top of the tree in their organisations, so tend to feel as though there is nowhere left for them to go if they want to further their salaries.
Individuals in this position often have to move company, heading to larger, international firms in order to improve on their current salary. Earning more money by relocating to more profitable locations, such as Scotland, London or abroad is another option, as is switching to a different, more profitable industry.
How to obtain the higher wages?
Using a sales recruitment company, and explaining exactly what position the individual is interested in, is also a good idea. These organisations can use their industry knowledge to find appropriate positions – with higher salaries - and help the individual through the recruitment process.
In addition, training courses can help sales directors to continue their personal development, and to boost the value they bring into the company they are working for. This, in turn, helps individuals to strengthen their case for a pay rise. Many sales directors gain enough management experience from their current roles to feel confident becoming the director or CEO of a company, or starting their own business; this can potentially lead to a greater salary, and higher level of personal fulfilment if successful.