Vp of sales salary1/13/2024 Consolidation among traditional healthcare companies such as hospitals and medical practices is somewhat offset by the proliferation of “health adjacent” settings offering services such as administration of cosmetic treatments and dietary/lifestyle coaching. The amount of services spending in the overall economy is reflected in relatively higher pay for VP/Sales positions in the industry.Īn ageing population plus more available treatments and increasing diversity of delivery points should continue to foster a steady rise in health spending in the years ahead. As the pandemic eases, money will likely surge back into these sectors, producing some good years until the pent-up demand is satisfied. Some of the major drivers of consumer services were walloped by restrictions and anxieties around coronavirus : travel, hospitality and recreation all took huge hits. ![]() The spread between the lowest and highest earners reflects the growth and importance of digital services. With an annual growth rate north of 10%, the demand for more business services - especially digital tools - shows no sign of slowing. The covid pandemic poured fuel on an already hot marketplace as digitalization of business processes and new digital services were transforming the business landscape. This will allow pharma sales executives to stay on top of a fast-moving marketplace:īio-sensors, big data and IOT will accelerate the changes. Rapid change will be a major factor going forward, as mass therapies (blockbuster drugs) give way to highly tailored individualized treatments. While the direct impact was felt most acutely by the firms engaged in combating covid, the increased demand for healthcare supplies of all kinds affected many others. The biotech and pharmaceutical world was rocked by the arrival of COVID-19 and the reverberations continue. In some, additional compensation is modest, keeping total comp down, while other industries have almost unlimited potential. There’s significant variation between industries, too. High total comp - Total compensation for highest earners when OTE was includedĪverages can be deceiving of course: There are VP/Sales making less than $100,000 and some making ten times that amount when total compensation is included.Highest - Highest average salaries for AEs with 15 years experience at large companies.High - average salary for VP/Sales with 15 years experience at large companies (1,000 or more employees).Low - less than one year experience at a small company with fewer than 50 employees total.For our analysis, we looked at average pay in four scenarios: When you factor in the size of the company and years of experience as a VP/Sales, large differences in compensation emerge. Average PayĪccording to research from Glassdoor, the average base pay for a VP/Sales is $100,000 across all industries and all experience levels. Large national/multinational companies tend to pay in the same ranges as others in their industry because they are competing for the same talent. A regional business in the Midwest is not going to pay what a global business pays. In addition to its industry, where a company is located and its geographic footprint are major determinants of total income for their VP/Sales. Others may stick with straight commission sharing. Startups or tech companies may offer a mix of bonus cash and stock for reaching or exceeding goals. There are also many types of additional compensation. ![]() As a result, total VP/Sales compensation ( OTE, On-Target-Earnings ) in some industries is lower than you might expect. For example, an “average” VP/Sales in the financial industry is not unique in their organization there may be dozens of VP/Sales in a large firm.įor software companies or manufacturers, there may be just a few - or only one. There’s typically a substantial base salary garnished with varying amounts of bonus money depending on the company and the industry. How much a VP/Sales gets paid is influenced by factors that include: Great VPs are hunters who’ve learned how to organize and lead hunting parties. ![]() Sales VPs typically come up through the ranks of sales, but most talented salespeople will not make effective VPs. Charged with meeting the revenue goals, hiring, organizing and overseeing the sales force, the required skill set is both extensive and unusual. The vice president of sales is a key player in any organization - although in some industries you’ll find more than one per company.
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