Your Tech Sales Roundup 5/20/22
Geof Bowie ??
Director of Marketing And Product Development @ FASTSIGNS of Everett, WA | Social Networking, Creative Direction
NEWS
Seems there were to big narratives this week that affect the tech sales world:
1) Economic doom and gloom. Don't panic! The stock market is headed into bear territory (down 20% from most recent high) and inflation fears are all over the news. Bad news sells.
Microsoft plans to nearly double its global budget for merit-based salary increases, and increase its range for annual stock-based compensation by at least 25% for employees at the senior director level and below.
2) Microsoft has followed Amazon in increasing employee compensation. By a lot.
ANALYSIS:
On the one hand, certainly we can expect there to be layoffs and hiring freezes. I think that is unavoidable since humans run companies and humans read the news. It would be silly to think that negative economic news wouldn't have any impact on hiring.
However we have some (if not a lot) of insulation from the larger market swings in our world as is evidenced by the news from Microsoft and Amazon. Why? Because both major players have done their homework and assessed the coming 12-24 months (at least). They have determined that there will be a sustained battle for good talent and staking a claim on both retention and future hires.
Because of these compensation increases, we will absolutely see a halo effect both in terms of compensation as well as confidence in the near future.
领英推荐
Finally let's not forget that there are still fewer qualified salespeople available for open roles. Even if there were a dip in opportunities (of which I am not seeing yet), demand is still high.
OPPORTUNITIES
So what's hot? Here are some highlights of open roles I am working on:
SDR/BDR: $50-60k base ranges and upwards of $110k OTEs. Some fully remote, some hybrid. Nice selection of startups in a variety of SaaS categories.
Account Executives: MidMarket and Majors are hot! $65-105k bases, typically 50/50 OTE. Stock and upward mobility in to Enterprise. As little as 3 years experience in SaaS.
Enterprise Account Execs: $300k OTE ranges. Have a new crop of exciting roles in Big Data, and AI/ML. If you have that magic 3+ years of crushing quota and are looking for the next career move, your time is now.
FULL OPENING LIST
Have an awesome weekend and as always, share with your network. My mission is to perfectly match the best salespeople with their next career move.