BitcoinAddict

AE

Valued Contributor

SaaS: Where is this all leading? (Job market, layoffs, fewer openings, etc.)

So some good news, I managed to secure 4 new interviews for next week but it took a ton of work to do so. A couple are for roles I normally would not take.

I have just been reflecting on what is going on in SaaS right now in 2024. This week, I did a ton of outbound for open AE roles and the responses were dismal. September so far is looking even worse than the summer.

I have seen so many AEs, including one of the best I have ever known, out of work and on the job hunt. It's been like this since 2023 and now to 2024 as well.

It makes me wonder, where is this all leading in SaaS Sales when the market is that bad?

Are we going to see waves of AEs practically career switch altogether?

What is the point for those of us who genuinely like sales to stick it out?

I know people will say switch industries but at this point, if you did that, you'd be starting down near the bottom and take a hefty pay cut.

☁️ Software Tech

17

15 comments

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SaaSsy

Politicker

11

AE

It’s cyclical, we’re still feeling the pain from over-scaling. Probs won’t get better through the end of 2024 but stick with it and the market will bounce back.

jefe

Arsonist

4

🍁

^^^ This.

There are always ebbs and flows. There was a lot of flow for awhile, and now, this.

cw95

Politicker

2

Head of SDR

Fingers crossed.

poweredbycaffeine

WR Lieutenant

8

☕️

Hey friend. Maybe it’s time to get outside of SaaS and reduce the stress on your soul.

wolfofmiami

Opinionated

6

🐺

Become a goose farmer

Kosta_Konfucius

Politicker

4

ERP Sales

Unfortunately, sales will always be a roller coaster, no matter the industry. I dont believe its just SaaS, some industries are hit harder than others. Stryker did layoffs, so its not like Med Device is perfect

Bavarianbarbarian

Executive

4

Enterprise Account Executive

Hey mate, sending support - and keep your head up. Yes things are changing but there are many incredible roles out there (and there always will be)

Was recently laid off and it took 3 weeks to find a new sales role, slightly different industry but paying more.

Instead of applications, I reached out to other sellers to network and always tried to help them or provide insight - and then later mentioned I’m exploring the next role

That would usually illicit a “(since you helped me) let me see if my boss or VP would interview you ”

FinanceEngineer

Politicker

2

Sr Director, sales and partnerships

That’s sales. With the experience and closing ability - You need to have a network and a reputation of being good to work with. It’s going to be harder to command the same OTEs of a couple of years ago in the immediate future, and not sure how the industry is gong to change.

alCan

Contributor

1

Account Executive

Firstly, keep your chin up and never forget that it is not you. It is the market and macroeconomic issues. I can go on and on about Fed making sure inflation is at 2%, but throwing the baby out with the bathwater (and technology is above average dependent on interests rates) they are killing people's employment. You tell me, do you prefer to have low inflation and be unemployed or contend with 5% inflation (or whatever) and be employed?
Past that rant, my perspective is a little different. The market is brutal and will always be equally as brutal as it will be good/great. What I mean is the length of the good times will always be as long as the bad. I have seen the market crash with the dotcom bust in 2000, become worse with 9/11, go into a steep decline with the great recession and what happened after Lehman between 2008-2011 and now this. I am skipping COVID hoping that will never be an issue again.
My point: People love the idea of above average income and commissions and all the glory of being in sales and succeed, but we must be ready for all the bad times that will keep coming back. This sector and profession will never be steady or relatively stable like working in a barbershop, supermarket, becoming a Wal-mart manager or a teacher/nurse/whatever.
Move forward with your eyes open.

Gasty

Notable Contributor

0

War Room Community Manager

When one industry takes the hit, the other grows. Right now, there are many industries that are taking a hit but many are growing on the other hand. Sales will always be a rollercoaster. Some are still earning like crazy and some are looking for jobs. It happens. All we can do is secure our future and plan whatever works best for us in a much better way so that these changes may not crazily impact us.

BitcoinAddict

Opinionated

1

AE

Yeah except for these other industries outside of saas, you need serious industry experience.

cw95

Politicker

0

Head of SDR

I've always been in SaaS, saw a BDM/AE role that said 'AE role for XYZ eggs' and I thought wtf is that.

Went on it and it quite literally was to sell eggs from a respectable big farm in the UK to shops etc.

If it didn't pay so bad I did think 'cor that sounds like a comfortable nice and easy job'.

TennisandSales

Politicker

0

Head Of Sales

there was a major rebalance over the last few years where companies realized they dont need 1500 sales reps.

But the market alwasys goes up and down. its not always going to be this brutal just like it wasnt always going to be incredible like it was in 2022

0

Supplier Manager

IMO, most PE funded SaaS companies have a runway (length of time) by which they need to generate revenue before they pull the rip cord. The CEO will always tell you it's a mile long because of their retention needs. Assume it's half that time and if you are not exceeding your number by then, also assume that you are expendable. This is especially true for SaaS companies searching for the silver bullet of technologies, channel plays and distribution. My last CEO was enamored by huge salaries that seemed too good to be true. It was; and the fun lasted only 11 months.
Moral of the story: Keep your eyes open, don't be afraid to take a step back. A lower steady paycheck will outpace big salaries that don't last. Also, don't be afraid to push back the second there are inferiorities with the product. Use it, break it and demand a quality product advocating for the client and sell-ability of the software or SaaS.

pitchandputt

Executive

0

Account Executive

Me biting my nails as I start applying after my layoff 😬

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