The “sales compensation equation”
Do you know what your true “market value” is as a sales professional, or as a sales manager, sales director, or any sales position? How do you measure your “total OTE” and your overall “sales compensation equation”?
One sales leader that I worked with a software start-up out of Boston put it this way:
Total Compensation = Base + Commission + Equity (for him, his “total compensation” goal was very high as a software sales Vice President).
From my experience, and as I learned from my MBA, part of the value of a job – are you learning and growing your career? So, the equation becomes: Total Compensation = Base + Commission + Equity + LEARNING. Never underestimate the value of LEARNING. When you can align yourself with a sales mentor who can teach you new things, it’s hard to put a value on that. PRICELESS. That said, the same Professor said that you will learn 80% of what you will ever learn within 18-24 months when working with a sales leader.
What is your “Sales Compensation Equation”? Is there still a value in learning in the job you are in? Set your equation, and when you feel that you aren’t learning anymore, is the Base + Commission + Equity still enough? If you’re early enough in your career, perhaps not.
Career Builder and Monster both offer tools to help you understand your “market value”. Don’t forget the value of learning in the job you are in. Maximize it.
