Sales Manager Compensation—The Story of Territory
Sales Manager Compensation—The Story of Territory (October 2019)
Advisor compensation has been analyzed extensively, but obtaining detail compensation information for the critical role of Sales Manager has been significantly less available. In fact, the advisor’s immediate manager is often the overriding reason an advisor joins a new firm or stays at their existing firm. Considering the significance of the sales manager role, we conducted this research to benchmark the compensation amounts, methods and drivers of Sales Manager’s compensation.
The study encompasses data from 30 Sales Managers in Bank-owned Broker Dealers, providing data on individual territories ranging from $5 million to over $25 million in revenue. It details the Sales Managers’:
- Base salary amounts
- Incentive amounts
- Total compensation amounts
- Compensation paid per Advisor
- Primary incentive drivers
- Plus, other productivity measurements
Sales Managers are a critical cog in the sales chain, so understanding the amounts and design of their compensation is necessary to recruit, retain and motivate the best. This research provides those answers.
Pricing for Financial Institutions
Pricing for Non-Financial Institutions
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