As a sales pro, you’re used to having uncomfortable conversations about money, but many sales candidates fall into one of two categories when it comes to a new job. They either shy away from talking about money because it is so taboo, or they come out of the gates blazing with high demands. Neither of these scenarios is ideal. If you don’t know what your earning potential is, you could be wasting your time. And if your expectations are too high, you could shoot yourself in the foot. Use these strategies to talk about and negotiate pay the right way.
Do Your Homework
Everyone wants to be paid what they are worth, and as a salesperson, you are extremely valuable because you drive revenue. However, your opinion of your value isn’t necessarily the same as your actual market value or what the employer is willing to pay. Spend time researching what sales reps in the industry make. If the company is large enough, you can potentially find compensation information on sites like Glassdoor and Indeed, as well.
Do as much upfront work as you can to determine whether the employer can pay you what you are worth and what you want. It’s also important to know the structure of the compensation plan. You want to determine whether you will be 100 percent commission or partial salary and whether the company caps commissions.
Talk About Salary During The Hiring Process
It is important to talk about salary during the hiring process, so you don’t get to the end and need to reject an offer. It is a waste of your time and the hiring manager’s time if you discover they are simply unable or unwilling to pay you within your desired range.
You do need to be somewhat diplomatic in your approach, however. When it comes time for you to ask questions and the topic hasn’t come up, you’ll need to make the first move. First, ask all of your other questions before moving onto the salary. Then ask about the compensation structure itself. Is it 100 percent commission or a hybrid? What are the commission ranges and potential caps? You should also ask about performance increases, bonuses, etc. Stick to words like “compensation” rather than “pay” and try to ask for ranges rather than specifics.
Consider Benefits and Perks
Benefits and perks do have monetary value. If a company is willing to pay 100 percent of your health insurance or offer extensive PTO, those things have value, such as equity, parental leave, flex time, signing bonuses, development opportunities, etc. Always make sure to incorporate those into your calculations.
Work With A Sales Recruiter
One of the best ways to ensure you get paid what you are worth is to work with a sales recruiter. You’ll have salary conversations upfront before you even go on an interview, and they can help you negotiate a lucrative package. If you’re ready to start earning what you are worth.
Grow Your Career
If you are a sales professional interested in inside sales roles in the exciting field of industrial safety equipment and PPE, contact the expert recruiters at The Charis Group today to talk about growing your career or browse our current sales openings and apply online at any time.