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Enterprise software sales reps can expect to make $180,000 yearly. This is the country’s national average salary.
However, keep in mind a sales representative’s average base salary can be above or below this number depending on sales experience.
When it comes to jobs in the sales industry, people seek out certain jobs more than others. An enterprise sales representative is one of those jobs.
And if you’re an experienced sales representative from a different industry looking for a change, the sky’s the limit in SaaS sales.
Selling enterprise software is not an entry-level position—sales skills from previous employment matter how employers hire a salesperson.
An enterprise sales rep works with large companies to reach a deal. However, it can take months to achieve this feat.
What Are Software Sales?
Software sales are in a position to work toward the future of sales. Marketing for a company and services like money management or CRM tools stems from the computer software.
Enterprise software sales are all about customer relationship management, like any sales job.
A software sales representative sells computer software to one customer and entire companies.
Software sales require a high level of negotiation and closing deals with a steady head. There are large budgets for enterprise sales and significant risk.
The Four Main Job Titles
There are four main job titles within the umbrella term of software sales rep:
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Business Development Representative
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Inside Sales Rep
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Account Executive
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Enterprise Account Executive
What Does A Software Sales Job Entail?
Frequently, you will be required to recognize the customer’s needs and present the proper technical and benefit-related information about the software you are selling.
You may often be required to provide technical information to customers to build reputation and trust and solicit information on their computer and system needs.
What Job Seekers Need To Succeed
Employers often require employees to have a bachelor’s degree for this career path but not always.
Less complicated products often require a high school diploma or the equivalent, with a business-to-business (B2B) sales background.
Some software companies have training programs for enterprise software sales professionals that can last up to one year.
Enterprise software sales professionals must possess presentation skills and be adept at relationship-building, negotiation, and communication.
Since enterprise sales tend to be for an entire company, they tend to be high-dollar-value sales, involving multiple decision-makers.
To be a software sales rep, you’ll want to make sure you can work flexible hours, know about the software you’re selling, have great communication skills, build rapport during any call, and have strategic communication skills and prospecting skills.
What Is Your Base Salary Range?
This is safe money. It’s how much you’ll earn regardless of your performance. Typically, this is the number employers will show you when they offer you a job.
Compensation plans are often private.
How Are Sales Reps Paid?
Companies pay salespeople a base salary plus commission, and the commission structure can be complicated. An enterprise software salesperson will have a quota.
If they hit the quota, they get big bucks. If they miss it, they risk losing their job.
Commissions are usually uncapped – this is where salespeople earn most of their money, as there are usually multipliers over 100% of sales target earnings.
So how much money can someone rack up selling enterprise software? Top sales reps get up to $400,000 a year.
A sales team leader can earn $500,000 a year, but don’t let the six digits fool you. This occasion doesn’t always happen.
What Is Commission?
This is a percentage of the revenue you close. A common number is 10% of the revenue you close.
Most companies offer kickers too, where the commission rate increases exponentially as you go higher above quota.
At 110% percent of the quota, you might earn 12% of the revenue closed on the deal. Then at 120%, you might earn 15%. This is why it’s so fun to be working while above quota.
How Can You Earn Commission?
Because of commission, the more you put into this job, the more money you make.
The beautiful thing about working in software sales is that your skill and effort at least partially determine your pay and time invested.
This self-determination is often not found in other jobs where employees only earn their base salary no matter how hard and smart they work.
Which Cities Pay The Highest Base Salaries?
Sales Are Not For Everyone
Working in a sales career is not easy. It’s tough to work with a family. There’s a lot of pressure where you’re only as valuable as your last quarter or fiscal year.
When starting in sales, it’s easy to get discouraged after your first quarter or second. But once you practice enough, it becomes easier to finesse deals.
Job Searching
Websites like LinkedIn and ZipRecruiter allow job seekers to search for job titles based on experience, company size, location, etc.
Salestrax.com’s blog will allow readers to learn about tech sales and how to find the right tech sales job for them.
Work Schedule
A software sales representative can create their schedule rather than the standard 9:00 to 5:00 work schedule.
The downside is software sales require the software sales rep to be flexible with working with their customer’s schedule.
The salesperson is mainly doing little travel, and the location is primarily remote. Change is something you can always count on in life. The same goes for software sales.
Although deals are working to serve enterprise revenue, the deal itself won’t always be the same.
Job Security For A Software Sales Rep
According to Transparency Market Research, more companies are upgrading their efficiency across multiple core departments, from sales and marketing to human resources.
More companies are looking to purchase enterprise software to increase productivity.
This career path is in high demand requiring only a high school diploma.
This isn’t always the case with every company, but a job title with a competitive compensation plan is challenging to come by.
Working as a software sales rep has ensured job security because more companies are turning to technology to do the job for them.
Downsizing and layoffs are rare in software sales, and the job doesn’t work through channel sales.
A Customized Approach
A software sales rep will need to take a customized approach to every customer. You will have a business in a market at different skill levels.
An enterprise sales representative needs patience and the ability to remain resilient at every site of contact.
The location of your services will not always be the same, and a wave of questions may hit you. However, this is normal and a sign of trust between the sales rep and their customer(s).
How Much Does An Enterprise Sales Representative Make In The United Kingdom?
How Much Do Enterprise Account Executives Make?
Enterprise account executives in the software industry bring in a whopping average salary of $100,565 a year. And that’s without accounting for commission or profit-sharing.
Their deals are also much larger than those of an account executive. So, their commission is usually higher as well.
For example, if you closed an account worth $120,000 in MRR, and your commission rate is 10%, you just racked in $12,000 from one close.
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source https://kennected.org/enterprise-sales-reps-compensation/
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