If you are a leader and you also have the inherent skills you need to be a successful sales person, the sales manager title may be just right for you. But you’re probably wondering: “How much does a sales manager make?” While passion is something that everyone encourages the passionate to follow, making a decent living while you do something that you are talented at is also very important. Whenever an individual is considering pursuing a specific occupation, learning how much you can potentially make with the job title is important. Read on and learn about the average salaries of a sales manager and how salaries can vary from region to region and industry to industry.
What is the Average Salary Reported for Sales Managers?
Sales managers are in charge of overseeing and directing the distribution of products and services offered by an organization. Because sales managers play such a vital role in every type of organization, regardless of their size, they earn a very lucrative salary. According to the Bureau of Labor Statistics, the average salary reported in the nation for sales managers is $110,390 per year, which is an average of $53.70 per hour. This average takes into account all of the salaries reported in the nation, which range from a low of $41,320 to a high of $119,220.
Factors That Can Affect Your Salary as a Sales Manager
The sales manager title is a highly coveted one, but some organizations pay better than others on the sales management end. You must consider all of the factors that can potentially affect your salary whenever you are pursuing a formal degree or experience to enter the field. Sales management is a unique occupation because you can work in endless industries. There are top-paying industries and struggling industries where managers simply do not make as much money. The positions in top-paying industry are high in demand, and because of this, competition is fierce. You must also consider the geographic region, your level of education, your level of experience, and how large of a sales department you will be managing. When distribution totals are high, you tend to make a higher salary.
Which Industries Pay the Best?
You can pursue a manager role within the sales department in all types of industries, but if you are looking for a top-paying position you will need to focus on flourishing industries where revenues are extremely high. Typically sales managers in financial investing, securities, research and development, food services, and investment pools make the highest salaries. Sales managers in department stores, commercial equipment industries and with wholesalers tend to have the steadiest and most stable employment.
You need to consider both the area in which you live and the industry that most interests you before you work to become a sales manager. Once you do this, you will need to obtain a degree and show your commitment to the field. With a degree in Business, Sales and Marketing, or a related field, you can show that you have the knowledge and also the drive to be a well paid sales manager.