Hey there, tech and sales enthusiasts! In this blog post, we'll delve into the various stages of a software sales career, shedding light on the roles, salaries and my personal experience at each step. Whether you're considering a career in tech sales or simply eager to rise up the software sales ranks, this article has got you covered. So, let's dive right in!
1️⃣ Sales Development or Business Development: The Gateway to Success
At the entry level of a software sales career, you'll find Sales Development Representatives (SDRs) or Business Development Representatives (BDRs). These individuals play a crucial role in the sales process, acting as the initial point of contact for potential customers. They are responsible for reaching out to prospects, qualifying leads, and passing them on to Account Executives (AEs). Inbound SDRs handle incoming leads, while outbound SDRs proactively seek out new business opportunities.
As an SDR, your day-to-day activities will involve reviewing and prioritizing assigned leads, engaging in cold calls, email outreach, and LinkedIn messaging to secure that all-important initial meeting. Additionally, you'll be responsible for qualifying prospects in a discovery meeting, ensuring a fruitful outcome. Compensation for SDRs typically includes a base salary and commission.
My Salaries
Inbound SDR: $50,000 base + $20,000 commission
Sr. SDR: $50,000 base + $30,000 commission
2️⃣ Account Executive: Navigating the Complete Sales Cycle
The role of an Account Executive (AE) marks a significant milestone in your software sales career. As an AE, you'll be managing prospects throughout the entire buying process and maintaining relationships with customers post-sale. AEs act as the primary point of contact for clients, representing the face of the company in their interactions.
Large companies often segment their AE teams based on various criteria such as verticals, company size, or distinguishing between new accounts and existing customer accounts. My journey as an AE started in the MidMarket segment, where l handled companies with under 1,500 employees and revenue below $250 million. As I gained experience and progressed, I transitioned to enterprise sales, managing fewer but larger accounts, those with over 5,000 employees and more than a billion dollars in revenue.
An AE's responsibilities include internal meetings with account team members from marketing, SDRs, presales engineering, and customer success. Additionally, you'll dedicate time to research and identify new business opportunities within your assigned territory, prepare sales materials, attend meetings, and update deals and forecasts. AE compensation varies based on the segment and level of experience, but it often includes a combination of base salary and commission.
My Salaries
Mid-market AE: $60,000 base + $40,000 commission
Sr. Mid-Market AE: $75,000 base + $75,000 commission
Enterprise AE: $100,000 base + $100,000 commission
Enterprise AE: $120,000 base + $120,000 commission
3️⃣ Strategic roles and Sales Leadership
Beyond the traditional AE path, you have the option to pursue specialized roles or venture into management. For those seeking greater challenges and responsibility, strategic enterprise roles offer the opportunity to manage the relationship between your company and a key customer. This senior position involves maintaining a close-knit partnership and may require managing a smaller number of high-value accounts.
At the pinnacle of the individual contributor track lies the role of Global Account Director. In this position, you would be entrusted with selling into and nurturing relationships with major international clients, such as industry giants like Apple. Global Account Directors have earning potentials that can reach remarkable heights, often over 350k+ OTEs.
For ambitious sales professionals, transitioning into management is an attractive option. After establishing yourself as a successful AE, you can take on a leadership role, overseeing a team of AEs. As a manager, you will be responsible for meeting team quotas, hiring new talent, coaching and mentoring team members, and collaborating on strategic deals. While base salaries for sales managers tend to be higher than those of individual contributors, commissions may be relatively lower. However, sales leaders often receive more equity, making it a compelling path for building long-term wealth.
We hope you found this comprehensive guide to a career in software sales insightful and inspiring. Whether you're just starting out or looking to advance in your sales journey, the software industry offers endless opportunities for growth, learning, and financial success. If you have any questions or would like further information, please don't hesitate to leave a comment below. Don't forget to like and subscribe to our YouTube channel, where we share valuable content twice a week. Until next time, happy selling!