Somewhat lengthy, but hoping this helps some people who are contemplating job hopping to increase their paycheck.
Quick summary on my career path over last 5 years....
2017
- 26 years old, joined a start-up as 5th employee and first account executive. Shit salary ($45k) plus commissions. No benefits. Stock options. In office position.
Worked here for 3 years. Great experience in the SaaS/Fintech/Marketplace verticals. Learned the ins/outs of startups. Commissions changed 3-4 times due to pivoting of the core product we were providing, etc.
I hit numbers frequently but commissions were not great. I think my highest earning year I made $61k or so. Not tight.
2020
- Left mid pandemic to join one of my suppliers from first job. Territory development in the Med Device space. Salary ($45k) but commissions were better. Benefits not great but okay. healthcare, 401k 3% match. Remote employee.
Worked here for 2 full years. The culture at this company is incredible. Legit treat their employees like their most beloved family members, total team effort on all fronts and truly some of the brightest individuals I've ever worked with. I hit quota and was the #1 retail rep. Was projected to make around $75k by end of 2022.
However, it was a grind. Lot of competition in the space and being remote was tough and I was ready for that next step in career development.
2022 (September)
- Left last company to join a Series A startup in the Med Supply space. Brought on as a remote Account Executive with plan to transition into Sales Director after 90 days once more new hires brought on. Base salary $65k plus commissions (OTE was $120k allegedly). Paid healthcare, 401k (no match), unlimited PTO.
Sounds great right? Mass layoffs 6 weeks after I was hired. literally 90% of the company let go. Total shit show. Rumors about the Series A not being fully funded which was the catalyst for the hirings.
2023 (January)
- Back in office for a local company. Manufacturing company in the medical space. NO SALES TEAM. They've literally relied on a book of 5-6 customers for majority of sales for 3 decades. Base salary - $75k, 80% paid healthcare, 401k 3% match. Commissions are 1% of total revenue (projected $4-$5 million). Not sure how realistic due to a number of factors.
So far, pros are that I have autonomy after I get ramped up (3-4 months). I'm obviously making more money than I have in the past. Lot of opportunity to close some big deals ranging from 5-7 figures. I know I can bring a shift in culture here from what I've learned.
Cons, company is a shitshow. Culture is terrible. Tons of work to be done. Lot of turnover in leadership positions the last 5 years. Product delays, quality issues. The picture being painted isn't great, but I want to take a shot at helping turn it around.
The point I am trying to make is that life is hard as it is but don't rush into a job situation out of desperation. Live below your means to afford the luxury to not have to accept an offer in panic. I'm certainly feeling that way today but I know there is opportunity if you're willing to look.
Vet the companies you're interviewing with. Use the list Corp put out this week regarding companies that are still hiring (If you are in the market).
I've nearly doubled my base salary in 5 months. It's possible. Reach out to me directly if you're having issues. I'm happy to help.
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