Although bonuses and incentives play a more significant part in sales salaries, a good base salary is the foundation of high-paid jobs in sales. You may already earn the average salary for your role or be working your way toward one of the highest-paid jobs in the UK. Whatever your current circumstances, UK professionals face unprecedented cost increases due to high inflation. While job market uncertainty lies ahead, you will need a good pay rise this year to have a realistic expectation of maintaining your standard of living.
Update: Average UK Pay Rise 2023
The latest data reveals that the average pay increase in the UK from September to November 2023 was notable, with a 6.6% rise in regular earnings (excluding bonuses) and a 6.5% increase in average total pay (including bonuses). Despite higher costs, this translates to a real-term growth of 1.3% for total pay and 1.4% for regular pay, adjusting for inflation. The sales jobs, particularly in wholesaling, retailing, hotels, and restaurants, saw the highest growth rate at 7.2%. This period reflects significant differences in pay awards across sectors, with the South East possibly anticipating higher pay awards in the year ahead.
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Highlights And Key Takeaways:
- Last year, the average total compensation, including base salary and bonuses, saw a growth of 6.4%.
- Recent survey data reveals that more than 70% of companies intend to offer workers a significant rise in salary and benefits, compared to 2022.
Why Sales Staff Need A Pay Rise
Last year, the average total compensation, including base salary and bonuses, saw a growth of 6.4%. This was the fastest increase in pay since the pre-coronavirus era. Private sector employees benefited the most in the job market, with an average raise of 7.2%, while public sector workers received an average raise of 3.3%.
However, despite this increase, the high inflation rate of 10.5% as reported by the Consumer Price Index, resulted in a decline in average pay by 2.6% in real terms. To combat this, the Bank of England raised the base interest rate by 0.5% to 4%. Such actions are expected to bring down the inflation rate to 8% in 2023.
Unfortunately, higher interest rates result in more expensive overdrafts, mortgages, credit cards, and loans. Additionally, UK mobile phone and broadband companies are expected to raise their charges by 14% on April 1st, 2023. The cost of living remains a key driver of concern, and the UK economy may head towards a recession, with a projected contraction of 0.6% in 2023.
Given these factors, employees undoubtedly require a decent pay raise from businesses in 2023. Further information on these topics can be found in our UK Labour Market and Economic Overview and Predictions Report for 2023.
What Pay Increase Sales Workers Should Expect
Recent survey data reveals that more than 70% of companies intend to offer workers a significant rise in salary and benefits, compared to 2022. More than half said they would give UK workers a pay increase of at least 5%. Most employers will give a pay increase of between 3.5-6%, although this will not fully bridge the cash households need when accounting for the soaring cost of living gaps.
It may seem like a pipe dream to be able to safeguard British businesses, maintain a happy company culture, and protect staff retention by paying more money. As a worker, if cannot secure more money, you could look to other benefits, such as remote working or a four-day workweek. You could also find the pay range you can accept by searching the more than one million UK job vacancies or join the growing number of self-employed and freelance sales professionals.
So, which sales professionals should be realistically expecting increases in salaries in 2023?
15 Sales Jobs Expected To Get Pay Rises In 2023
Here are fifteen sales jobs in high-demand and expected to get a pay rise in 2023.
1. SALES MANAGER
The average salary of a Sales Manager is £45,000 per year. As a Sales Manager, you will be responsible for driving organisational sales by creating and executing business plans, achieving set objectives, and collaborating with the marketing team on generating leads. You will also monitor the sales team's performance by tracking sales targets, setting individual goals, and providing ongoing training and support. To secure a higher salary, you should possess exceptional communication skills and the capacity to lead and motivate a sales team.
2. BUSINESS DEVELOPMENT EXECUTIVE
The average salary of a Business Development Executive is £30,800 per year. As a Business Development Executive, your main responsibility will be to identify and secure new clients, upsell additional products or services to existing clients, and stay informed of market trends. You will also play a key role in enhancing the skills and abilities of your team through regular training and mentorship programs. To earn more in this role, you should be proactive in attending networking events and building relationships with potential and existing clients to drive business growth.
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3. SERVICES ACCOUNT EXECUTIVE
The average salary of a Services Account Executive is £31,500 per year. As a Services Account Executive, you typically manage the services for corporate accounts and strength connections with existing clients and potential new ones. You may engage in the sales of financial products, pharmaceutical products, or any other offering to both current and prospective customers.
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4. TERRITORY SALES MANAGER
The average salary of a Territory Sales Manager is £41,900 per year. Territory Sales Managers oversee the sales team in a region, providing sales strategy, developing talent, and ensuring sales goals are exceeded. To secure a higher salary and a healthy raise, you could complete a bachelor’s degree in marketing or business.
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5. SALES ACCOUNT MANAGER
The average salary of a Sales Account Manager is £40,500 per year. Sales Account Managers serve as the primary liaison for clients, establishing and maintaining strong, collaborative relationships by tailoring solutions to meet their specific needs. To earn higher salaries in this role, you must possess excellent communication, computer, and problem-solving abilities. Additionally, being resourceful, analytical, adaptable, and well-organised, as well as having the capacity to establish a positive rapport with clients, are key attributes for success.
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6. ENTERPRISE ACCOUNT EXECUTIVE
The average salary of an Enterprise Account Executive is £31,900 per year. Enterprise Account Executives oversee the key enterprise accounts, including managing relationships and selling products. To secure a higher salary from employers, you should consistently exceed sales targets and earn a bachelor’s degree in business.
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7. ACCOUNT DIRECTOR
The average salary of an Account Director is £38,300 per year. As an Account Director, you will play a crucial role in strengthening client connections by recognising areas for growth, pursuing marketing prospects, managing budgets, and collaborating with creative teams. To better your salary, you should possess exceptional communication skills, have a proven track record of success in client relationship management, and a keen eye for detail.
8. BUSINESS DEVELOPMENT MANAGER
The average salary of a Business Development Manager is £38,900 per year. As a Business Development Manager, your role is to create and implement strategic plans promoting sustainable growth for your company. Actions include conceiving and executing new marketing campaigns and tactics to acquire new customers and enhance customer value. Your responsibilities also include establishing strong relationships with potential clients, exploring new sales avenues, and creating compelling proposals for clients.
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9. SALES OFFICE ASSISTANT
The average salary of a Sales Office Assistant is £24,000 per year. Sales Office Assistants assist customers seeking information about the products and services offered by the company. Duties include handling customer complaints and effectively resolving any issues to ensure customer satisfaction, and maintaining an attractive and organised sales floor, including products, signage, and displays, all while adhering to company guidelines. To earn a good raise, you need a balance of sales skills, empathy, and diplomacy.
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10. SERVICES SALES REPRESENTATIVE
The average salary of a Services Sales Representative is £39,600 per year. Services Sales Representatives promote the benefits of and sell services, representing their brand and company. To earn higher salaries, focus on exceeding performance expectations and earning a new certification or qualification.
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11. VAN SALESMAN
The average salary of a Van Salesman is £24,400 per year. Van Salesmen sell vehicles to small and large companies, providing guidance and information on the best solutions. Their compensation typically consists of a base salary and bonuses, so exceeding sales quotas is a big part of the job for professionals who want to earn more.
12. TELESALES ADVISOR
The average salary of a Telesales Advisor is £24,300 per year. Telesales Advisors are responsible for contacting existing or potential new clients to discuss products or services and make sales following a script. To earn higher salaries in this role, you must provide high-quality customer service, achieve sales, and you could expand your expertise through a sales or customer service diploma.
13. BUSINESS DEVELOPMENT SPECIALIST
The average salary of a Business Development Specialist is £36,900 per year. The duties of a Business Development Specialist include boosting sales, conducting market data analysis, and establishing connections with both new and current clients. Earning a degree, diploma, or other professional qualification or accreditation will help you secure higher salaries.
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14. COMMERCIAL MANAGER
The average salary of a Commercial Manager is £52,200 per year. As a Commercial Manager, you will play a key role in executing various business development strategies that encompass sales and commercial operations. Your duties will include managing and monitoring commercial projects, making recommendations for improvements to align with the long-term goals of the organisation, identifying growth prospects, evaluating sales performance, resolving contractual disputes, providing training on effective techniques, and assessing potential business risks.
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15. SALES ADMINISTRATOR
The average salary of a Sales Administrator is £24,100 per year. As a Sales Administrator, you will be responsible for handling sales transactions, responding to customer inquiries, and providing top-notch customer service. Your tasks will include conducting credit checks, generating invoices, accepting payments, preparing necessary documents and reports, and offering post-sales support. To excel in this role, it is vital to have strong English and mathematical skills. For career growth and higher earning potential, you may consider obtaining a relevant diploma or becoming a member of the Institute of Administration Management.
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How To Ask For A Pay Rise
The dilemma facing sales employees who wish to continue their employment is how to request a salary increase. The conversation around asking for a pay rise can be intimidating and uncomfortable, but proper preparation is crucial in ensuring a successful outcome. Our report, How to Ask for a Pay Rise, provides a comprehensive guide on how to prepare for the discussion and effectively negotiate a salary adjustment. By following our step-by-step approach, you can gain the confidence to justify your request and persuade your employer to offer a higher salary.
Sales Pay Rise FAQs
Here we answer your questions on salary budgets and sales pay rises.
WHAT ARE THE EXPECTED SALARY INCREASES FOR 2023 UK?
Most experts agree that UK workers will get 5% salary increases in 2023. However, a pay increase could be between 0% to 15%.
WILL WAGES RISE IN 2023 UK?
UK wages will increase in 2023. However, with the high rate of inflation and high cost of living gaps, most employees will endure a real term pay cut.
WILL THE MINIMUM WAGE GO UP IN 2023?
The UK minimum wage will rise to £10.42 from April 1st of 2023, an increase of 9.7%, which is a figure recommend to the UK Government by the Low Pay Commission.
HOW MUCH OF A RAISE SHOULD I GET AFTER 3 YEARS?
While time of service may be something British businesses consider in pay negotiations, salaries typically increase due to other factors, such as performance, promotion, new qualifications, and company profit.
WHAT IS THE AVERAGE PAY RISE IN UK 2023?
The UK average pay rise 2023 has been significant. Regular earnings (excluding bonuses) saw an annual growth of 6.6% in the period from September to November 2023, while average total earnings (including bonuses) experienced a similar increase of 6.5%. Adjusted for inflation, the real-term annual growth for total pay rose by 1.3%, and for regular pay by 1.4%. This data suggests a positive trend in wage growth across various sectors, reflecting a notable adjustment in the UK's pay landscape for 2023.
