April 13, 2017Editors Pick , Featured , Latest News , Motivational , Recruitment , Selling Techniques
So you think you can sell…. And you want to earn over £100k per year?
A wise man once told me that the best salespeople in the world could, with hard work, be better paid than brain surgeons…
Imagine, a profession where your earning potential is virtually limitless, yet the entry requirements do not necessitate years of study and a seemingly never-ending student debt accumulating.
Sales is a wonderful career and one where you can find yourself talking to small business owners and multi nationals all in one day depending on the area of expertise you are working in.
Here are my top 6 industries for sales people
- Pharmaceuticals & Medical Devices
Pharmaceutical and medical devices are multi billion-dollar global industries. Top sales reps salaries in the pharmaceutical industry regularly reach 6 figures.
The high learning curve associated with both industries typically means that entry requirements are tough but the rewards can far greater than that of a GP or surgeon. However, both industries are competitive and under-performers are usually dismissed very quickly.
Typical Salary – £80k-£100k OTE
- Software & Technology
As with the Pharmaceutical Industry, Software and Technology sales require a certain amount of subject matter expertise. As such, beginners will find it difficult to break into.
As Enterprise software has a typically longer sales cycle due to the products/services involved having large price tags, experienced salespeople find it easier to command higher salary packages.
If you are looking to sell software, try and get a job at a large, reputable company where opportunities for career development will present themselves much easier.
Average Salaries range from £40k-£60k at smaller companies will large multi-nationals offering £80k-£200k OTE packages
- Advertising & Digital Media
Conjuring up visions of Don Draper in Mad Men, the Advertising and Digital Media industry can be very lucrative. The advent of multi channel and social platforms is set to see this industry continue to grow for years to come.
Traditional print and broadcast mediums are declining making digital the place to be at. The ability to sell bespoke service packages allow for high margins with small players more able to win and retain larger clients than they would have been in the print era.
And as technology and society adapt to this new digital landscape we find ourselves in, sales people who can adapt, flex and sell new platforms will have greater potential to make big commissions.
Typical Salary – £45k+ OTE
- Telecommunications & Security
Online security has never been more important. And businesses are willing to pay big for the right service to ensure integrity in their business and future proof themselves for yet un-known online threats.
Savvy salespeople in this industry must understand the consequences of businesses not protecting themselves allowing them to sell the features and benefits of their service against the perceived risks.
Selling data services are usually the entry point into this sector but for high achieving and well-polished salespeople, network and security services is where big money can be made.
Typical Salary – £40k – £80k OTE
- Financial Services
Jobs in this industry typically range from selling consumer investment plans; to creating wealth management plans for high net worth individuals.
This can be an un-forgiving industry where the stakes are high and the rewards can be eye watering. One of the most competitive industries for sales people which can sometimes feel like survival of the fittest.
Don’t be surprised to hear that some of the top sales people at large global firms are themselves millionaires.
Typical salaries – £75k+
- Residential & Commercial Property
With the shortage of good commercial property in the market, the commercial property sector is certainly buoyant and many transactions happen off-plan. For this reason, the commercial property sector is by far the higher paying option in property.
That’s not to say residential property agents don’t make a good living. Some high-end estate agents can make a very good living if they are selling multi-million properties to high net wealth individuals.
However, because of the exclusivity in commercial firms and the extremely long sales cycles they face, experienced commercial property agents can regularly make over £100k per year
Typical Salaries range from £50k (residential) -£120k (commercial)