2014_sales_rep_salary_survey
- 1. 1 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com 2 0 1 4 SALES REPRESENTATIVE SALARY SURVEY
- 2. 2 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com On one hand, the benefits of solution selling were already well established and many reps were optimistic that MPS would boosttheirearning potential. Onthe otherhand, fewdealerships fully understood how to price MPS deals or structure their comp plans, and this quickly became a source of serious frustration for the sales force. In those early days before all the glitches were worked out, it was easy to understand why some copier sales professionals preferred pushing boxes to selling solutions. It was straightforward. It was uncomplicated. And it paid as well as anything else. Three years ago when we published our first ever Sales Representative SalarySurvey,the majorityofourcopier dealership clients had already begun offering managed print services. While some organizations were enjoying more success than others, everyone experienced a few growing pains. For copier channel sales reps, it was a complicated time.
- 3. 3 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com But that was then. A mere three years later, the land- scape has changed completely. Managed services have come to dominate the industry, and sales reps couldnt be happier. Theyre loving their comp plans, their in- comes are on the rise, and theyre setting themselves up for long, profitable careers in a stable, tech-forward industry. From our perspective, there has never been a better time to be a copier channel sales professional. Oh, and those guys who only want to sell standalone copiers? They dont really exist anymore. This is the year they vanished before our very eyes. THE 2014 SALES REP SALARY SURVEY Since 2002, Copier Careers has conducted detailed an- nual salary surveys of copier service technicians, service & operations managers, and sales managers. In 2011, we added a survey for copier sales reps. This survey is much briefer than the others, but it gets right to the heart of what matters most to sales professionals: money. We ask our survey participants to share only four pieces of information with us: their job titles, their base pay, their commission, and their monthly quota. This year, we col- lected data from 9,998 sales reps. The survey respondents included sales professionals working at dealerships all around the country. They com- prised 1,955 Account Executives, 3,428 MPS/Solution Sales Reps, 1,955 Named Account Managers, 1,012 Senior Account Executives, 1,002 Major Account Managers, 395 Government Account Managers, and 251 National Ac- count Managers. This years most notable change is that the number of people who identify themselves as Account Executives has decreased by more than half. And where did they all go? Over to the MPS/Solution Sales category, which in the same time period has nearly doubled in size. Paul Schwartz, president of Copier Careers, sees this as evi- dence of the industrys complete transformation to a managed services model. What these disappearing Ac- count Executives tell me is that MPS has become so suc- cessful that the category of people who sell standalone devices basically doesnt exist anymore, says Schwartz. Its now all about delivering a broad range of solutions through a diverse selection of networked devices. Thats what customers want, and thats what sales reps want to sell. COMPENSATION Following three years of rapid increases, growth in av- erage compensation has slowed this year, showing only small gains since 2013. Nevertheless, we havent heard many complaints. In fact, in a separate poll we conduct- ed in October of this year, 64 percent of copier sales reps said they were either satisfied or very satisfied with their compensation plansa far cry from the frustration of a few years ago. This year, average annual base pay for all job titles was $48,467. Combined with average commissions of $67,964, that amounts to a total average compensa- tion of $116,431an increase of $178 since 2013. Major Account Managers reported the highest total income ($130,591), followed by Government Account Managers ($126,039), MPS/Solution Sales Reps ($121,841), Nation- al Account Managers ($121,520), Senior Account Execs ($118,344), and Named Account Managers ($107,702). In a distant last place were Account Executives, with total compensation of $88,983. Quotas were also up slightly this year, with Account Executives reporting average monthly quotas of $37,645, MPS/Solution Sales Reps reporting quotas of $44,818, and Named Account Managers reporting quotas of $58,612. Based on the rapid migration of basic Account Executives to MPS/Solution Sales Reps, however, we can probably expect that both the salaries and the quotas on the low end of the spectrum will increase significantly by
- 4. 4 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com next year as even more reps make the transition to sell- ing a broader range of solutions. Jessica Crowley, Director of Recruiting for Copier Careers, confirms that the base pay reported by Account Executives$25,999, compared with $40,166 for MPS/ Solution Sales Repsis probably a statistical outlier, and doesnt seem to represent whats happening in the in- dustrys mainstream. Frankly, I dont see too many peo- ple with a base salary that low anymore, simply because there are fewer people now who have that title or level of responsibility. From day one, new reps are learning about MPS and selling solutions, so in general theyre being compensated at a higher rate. THE NEW SALES ESSENTIALS While copier sales is not necessarily more challenging now than it used to be, there is no denying that the jobs essential skill set has evolved. One ofthe biggest changes, says Schwartz, is that the level of knowledge required to do the job has increased substantially. For salespeople, a very high level of understanding of both the hardware and the software is essentialthe days of memorizing a few feeds and speeds are long gone. Todays sales- people have to have a deep knowledge not only of the device itself, but also of all the solutions theyre deliver- ing through the device, and they also need to have a firm grasp on how the device is going to integrate into the clients network. Successful salespeople dont necessar- ily need to know the detailed technical answer to every question, but they do need to know where to goor who to go toto find that information. Crowley adds that exceptional communication skills are more critical for todays copier sales reps than ever before. Not only do reps need to communicate effective- ly with their colleagues in the sales and service depart- ments, they also need to conduct ongoing, very detailed dialogues with their clients to determine needs and iden- tify opportunities. Its not just about placing devices; its about creating long-term, consultative relationships that solve real business problems. AN INDUSTRY TO ASPIRE TO Up until a few years ago, copier sales jobs were widely considered a transitional positiona way to gain a few years of B2B sales experience before moving into an in- dustry that offered greater earning potential. Now, how- ever, the tables have turned, and this has ceased to be an industry people are trying to get out of. On the contrary, people on the outside are trying to get in. Over the past couple of years, says Schwartz, copier sales has evolved into a career that people are excited to break into. Once theyre in the industry and theyre suc- cessful, theyre eager to stay here because of the annuity potential of MPS deals and the ability to develop con- sultative, lucrative relationships with long-term clients. Its no longer a matter of putting in your three years in copiers so you can move up to pharmaceuticals or medi- cal device or high tech. This is a high-tech industry now, and in fact, weve begun to see people moving the other wayout of pharmaceuticals or medical device, and into copier sales. Crowley says that shes noticed the trend as well. Its really exciting to see. We love this industry, and its been amazing to see how much it has grown and evolved in such a short time. For the most talented people, selling copiers used to be a transitional job, but that is abso- lutely not the case anymore. Copier sales has become a genuinely rewarding career path with serious long-term earning potential. For smart, passionate, motivated in- dividuals, its a great choice. The future is looking very bright. copier channel sales reps participated in this years survey 9,998
- 5. 5 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com Sales Reps By The Numbers Over the past year, the number of people who identify themselves as Account Executives has decreased by 1,733, while the number of people who identify themselves as MPS/Solution Sales reps has increased by 3,428. SURVEY PARTICIPANTS BY JOB TITLE 2011 2012 2013 2014 Account Executives 3,456 {37%} 3,644 {37%} 3,688 {37%} 1,955 {20%} MPS/Solution Sales Reps 1,833 {19%} 1,842 {19%} 1,849 {19%} 3,428 {34%} Named Account Managers 1,899 {20%} 1,901 {20%} 1,909 {19%} 1,955 {20%} Senior Account Executives 989 {10%} 999 {10%} 1,001 {10%} 1,012 {10%} Major Account Managers 987 {10%} 991 {10%} 999 {10%} 1,002 {10%} Government Account Managers 301 {3%} 333 {3%} 388 {4%} 395 {4%} National Account Managers 99 {1%} 143 {1%} 149 {1%} 251 {2%} Total Participants 9,564 9,853 9,983 9,998 SURVEY PARTICIPANTS BY JOB TITLE, 2014 : VISUAL COMPARISON Account Executives {20%} MPS/Solutions Sales Reps {34%} Named Account Managers {20%} Senior Account Executives {10%} Major Account Managers {10%} Government & National Account Managers {6%} JOB TITLE
- 6. 6 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com 49% 51% 50% 50% 42% 58% 44% 56% 41% 59% 33% 67% 29% 71% Base Commission Account Executives MPS/Solution Sales Reps Named Account Managers Senior Account Executives Major Account Managers Government Account Managers National Account Managers Compensation Although compensation has increased for all job titles, the growth rate has slowed this year. Nevertheless, reps report high rates of satisfaction with their incomes and their compensation plans. AVERAGE COMPENSATION, 2014 Base Commission Total Account Executives $25,999 $62,984 $88,983 MPS/Solution Sales Reps $40,166 $81,675 $121,841 Named Account Managers $44,458 $63,244 $107,702 Senior Account Executives $51,799 $66,545 $118,344 Major Account Managers $55,140 $75,451 $130,591 Government Account Managers $62,573 $63,466 $126,039 National Account Managers $59,132 $62,388 $121,520 Average $48,467 $67,964 $116,431 BASE & COMMISSION AS A PERCENTAGE OF TOTAL INCOME
- 7. 7 | 2014 Copier Careers Sales Representative Salary Survey www.CopierCareers.com Opinion Throughout the year, we supplement our Sales Representative Salary Survey with opinion polls we conduct on our website. These polls help paint a fuller picture of how satisfied reps are with their current employment situations and where their biggest challenge lie. HAVE MPS/MNS MADE COPIER SALES A MORE CHALLENGING CAREER THAN IT USED TO BE? 1. Yes, the job is now much more challenging than it was in the pre-solutions era 35% 2. The level of difficulty is about the same as it has always been 33% 3. No, selling copiers has never been easier 32% WHAT DOES IT TAKE TO RECRUIT ROCK STAR REPS AWAY FROM THEIR CURRENT POSITIONS? 1. More total potential income 23% 2. More solutions to sell 22% 3. More commission 19% 4. Higher base salary 18% 5. New territory 18% Poll conducted in September 2014. Total votes: 2,714. Poll conducted in March 2014. Total votes: 2,583. Poll conducted in October 2014. Total votes: 2,724. About Us Copier Careers is a recruiting firm dedicated exclusively to helping copier channel employers find experienced service techs, copier sales reps, managers, controllers, back office staff, and MPS/MNS experts. Learn more about our commitment to the industry at www.CopierCareers.com or call 888-733-4868 to talk to a recruiter. Copyright 2014, Copier Careers. All rights reserved. HOW SATISFIED ARE YOU WITH YOUR SALES COMPENSATION PLAN? Satisfied or Very Satisfied {64%} Neutral {31%} Dissatisfied or Very Dissatisfied {5%}