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FinTech Salary expectations / question

Been in the MarTech SaaS space for too many years. Taking a call next week with a FinTech company that, in short, helps start-ups raise money through its software tools & network.


I'm curious if any WR vets are in the FinTech/similar space around transactions and roughly how their comp is broken down. I'm used to just an x% of ARR but want to get as much info as possible if there's any intel here.


Ex. I know that a large payment processor pays out x% on the ARR + total transactions through the platform, anyone work somewhere similar or have any insight?


πŸ’΅ Finance
πŸ’° Compensation
πŸ‘₯ Hiring
5
InQ5WeTrust
Arsonist
+9
Sales Savages, what is our profession? Trauma!
Not fintech, but would recommend checking compgauge and repvue to look at what the standard is for your part of the fintech market.Β 

Knowledge is power in a salary negotiation.Β 
Diablo
Politicker
+7
AE
AgreedΒ 
saaskicker
Politicker
+13
AE
thanks - i've checked compgauge and repvue, repvue doesn't have many fintech companies yet. Compgauge had a few and did notice that with fin tech it's typically more of a 60/40 split - want to see if my gut is true for this one before getting in the weeds. higher base, lower commission due to the nature of the higher value transactions of the product.Β 
CuriousFox
WR Officer
+13
Senior Account Executive
Following along so I can learn something too.Β 
bu
burytherail
Opinionated
+2
New Logo AE
FinTech AE here who has spent most of my career in this industry.

Comp plans vary depending on the sub-industry of FinTech.Β  Payments companies and other volume-based usage solutions generally pay different versus SaaS FinTech.Β  FinTech lenders are a whole other part, too.

I'm in SaaS.Β  Current company pays in tiers with a starting % of first year ARR that accelerates up with quota attainment.Β  I've also seen firms more generously compensate based on TCV, but not until the go-live date after implementation.Β  I've also seen a flat % ARR payout with no accelerators.

Understanding the comp plan in detail is one part, but it's equally important to ask questions about their holistic rep performance (median attainment, typical deal size, cycle length, etc.) to get specific intel on how attainable the comp plan is.Β  There is a good post about these questions that you can search for.
saaskicker
Politicker
+13
AE
thank you for the insightΒ 
dwightyouignorantsale
Politicker
+7
Manager, Sales
I’ve been in FinTech sales for about 5 years now. We are not a SaaS company and operate more similarly to a payment processor. However, our sales cycles are generally much longer than a PSP; around 6-18 months. The way we structure pay for deals are in 2 components: spifs/bonuses and percentage of ANR (annual net revenue). Spifs are if we close a deal with a partner (platforms we plug into). Percentage ANR is paid out over a year - we make a percentage of every transaction of the client for 12 months. My annual quota is a little over $1M and my OTE is technically around $240K. Although our OTE is a VERY loose number because my quota is made up of my signed clients successes, and that varies tremendously. Not sure if this is the route you plan to take, but hope this helps.
saaskicker
Politicker
+13
AE
ty sir
dwightyouignorantsale
Politicker
+7
Manager, Sales
that’s miss to you 😏
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