Sales Managers: Salary, career path, job outlook, education and more
- Education Required
- Sales managers are typically required to have a bachelors degree, although some positions may only require a high school diploma. Courses in business law, management, economics, accounting, finance, mathematics, marketing, and statistics are advantageous.
- Job Outlook
-
The projected percent change in employment from 2016 to 2026: 7% (As fast as average)
(The average growth rate for all occupations is 7 percent.) - Median pay: How much do Sales Managers make?
- $117,960 Annual Salary
- $56.71 per hour
Sales managers direct organizations' sales teams. They set sales goals, analyze data, and develop training programs for organizations sales representatives.
What do Sales Managers do?
Sales managers typically do the following:
- Resolve customer complaints regarding sales and service
- Prepare budgets and approve expenditures
- Monitor customer preferences to determine the focus of sales efforts
- Analyze sales statistics
- Project sales and determine the profitability of products and services
- Determine discount rates or special pricing plans
- Develop plans to acquire new customers or clients through direct sales techniques, cold calling, and business-to-business marketing visits
- Assign sales territories and set sales quotas
- Plan and coordinate training programs for sales staff
Sales managers responsibilities vary with the size of their organizations. However, most sales managers direct the distribution of goods and services by assigning sales territories, setting sales goals, and establishing training programs for the organizations sales representatives.
Sales managers recruit, hire, and train new members of the sales staff, including retail sales workers and wholesale and manufacturing sales representatives.
Sales managers advise sales representatives on ways to improve their sales performance. In large multiproduct organizations, they oversee regional and local sales managers and their staffs.
Sales managers also stay in contact with dealers and distributors. They analyze sales statistics generated from their staff to determine the sales potential and inventory requirements of products and stores and to monitor customers' preferences.
Sales managers work closely with managers from other departments in the organization. For example, the marketing department identifies new customers that the sales department can target. The relationship between these two departments is critical to helping an organization expand its client base. Sales managers also work closely with research and design departments because they know customers preferences, and with warehousing departments because they know inventory needs.
Sales managers are increasingly using data on customer shopping habits to identify potential customers more effectively. This allows them more time to facilitate sales through customized sales pitches to individual customers.
The following are examples of types of sales managers:
Careers for Sales Managers
- Business to business
- Business to consumer
- District sales managers
- E-commerce directors
- Export managers
- Regional sales managers
- Sales account managers
- Sales coordinators
- Sales directors
- Sales executives
- Territory sales managers