Trust Me, You’ll Appreciate This Later! – How Much Money Small Business Sales People Make in 5 Different Industries
When I sell products or services, I can earn a commission, which means I get an extra amount of money for each sale I make. This is really appealing to a lot of salespeople, especially those who have a lot of experience and are good at selling things. Businesses can offer high commission-based salaries and rewards to attract and keep talented salespeople.
Contents
- 1 Commission rates in different industries in 2018
- 1.1 Financial Advice Businesses
- 1.2 Now, let’s switch gears to something stylish – apparel manufacturing. This industry is all about clothes, sunglasses, and fancy handbags. And guess what? They also have sales commissions! Picture this: you’re a sales rep, selling clothes and accessories to stores. And you get paid, at least in part, based on how many sales you make. Now, statistics show that the average commission rate for sales reps in apparel manufacturing is 15 percent. And according to the U.S. Bureau of Labor Statistics, the people doing this job made a median salary of $61,270 in 2016. That’s not too shabby, right?
- 1.3 The World of Technology and Software
- 1.4 The Scoop on Salaries
- 1.5 Exploring the World of Healthcare
- 1.6 Mobile and Digital Payment Solutions
Commission rates in different industries in 2018
I want to tell you about the top five industries where small businesses have sales teams that receive traditional commissions. This means that these salespeople get paid extra based on how much they sell.
Financial Advice Businesses
In financial advice businesses, salespeople give advice to clients on how to invest their money wisely. To do this, they need to have a lot of knowledge about the latest financial trends and different investment options. Their goal is to help clients make a lot of money from their investments.
Let’s talk about money. Did you know that financial advisors can earn different amounts depending on their experience? If you’re just starting out, you can expect to make at least $50,000 a year. But if you’ve been in the game for a while, you could be making as much as $75,000!
Now, let’s switch gears to something stylish – apparel manufacturing. This industry is all about clothes, sunglasses, and fancy handbags. And guess what? They also have sales commissions! Picture this: you’re a sales rep, selling clothes and accessories to stores. And you get paid, at least in part, based on how many sales you make.
Now, statistics show that the average commission rate for sales reps in apparel manufacturing is 15 percent. And according to the U.S. Bureau of Labor Statistics, the people doing this job made a median salary of $61,270 in 2016. That’s not too shabby, right?
The World of Technology and Software
Let’s talk about technology and software, two things that play a huge role in our lives. They’re like the backbone of the economy and continue to grow every day. There’s a high demand for sales professionals in this industry, and it’s a great field to explore!
The Scoop on Salaries
Now, let’s get down to the nitty-gritty. The pay and commission for salespeople in the tech and software world can vary depending on where you work. If you’re at a startup or a small business, the pay might be a bit lower compared to larger companies with lots of salespeople.
From what I’ve found, on average, sales reps at SaaS (software as a service) companies make around $60k as a base salary. But wait, there’s more! They also have the potential to earn an additional $118k in commission. So, if you work hard and meet your targets, you can really boost your earnings!
Exploring the World of Healthcare
If you’ve ever thought about starting your own small business in the healthcare industry, I have some good news for you. There are plenty of opportunities out there! And guess what? Many healthcare startups and small businesses are willing to pay people like you a salary and commission based on sales. That means you could earn even more money if you’re really good at selling.
According to the 2018 Medical Sales Salary Report, the average bonus commission and base salary for medical sales representatives went up by more than $2,000 from 2017. Can you believe it? The average salary and commission combined was around $149,544!
Mobile and Digital Payment Solutions
Now, let’s talk about another exciting industry: mobile and digital payment solutions. This industry is part of the fintech market, which has been growing like crazy in recent years. And guess what? Startups and small businesses in this sector also need sales representatives, just like in healthcare. They’re willing to pay you commission for meeting and even exceeding sales targets. So, if you’re good at selling, you can make some serious money!
When it comes to selling things and making money, a lot depends on what you’re selling and how big the company is that you work for. Selling mobile phone insurance usually doesn’t pay as much as selling financial stuff like stocks and commodities.
If you’re selling mobile phone insurance, you can expect to make around $50,000 a year. But if you’re selling financial things, you could make closer to $70,000 a year.