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Tech Sales good in the long run?

I'm currently in the commercial lending space for real estate and have been doing residential mortgages as well...clearly it's going amazing with our market...lol


Have been curious and interested in tech sales for a little. anybody mind shedding some light? Interested in AE roles and other sales roles. What's the job like? OTE?

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15
Sunbunny31
Politicker
3
Sr Sales Executive
There's a lot of variation, depending on what kind of tech sales.ย  ย I've been in tech sales since the late '90s, so per your first question, is it good long run?ย  Well, it has been for me.
musashi
Contributor
1
Loan Originator
wow that's awesome! Definitely has sustainability lolย 
TennisandSales
Politicker
3
Enterprise Account Executive
this is a very broad question. There are software AE roles that the average AE will make under $100k and then there are roles where the average AE base SALARY will be $150K and up.ย 

The reason I got into saas was because i saw that you could make a ton of money without having to go into peoples homes (I sold insurance and investments before), i didnt have to call people I knew personally, I could sell to people all over the country thanks to Webex (at that time), and it seemed like i could have a good work life balance.ย 

and I was right.
musashi
Contributor
1
Loan Originator
that's awesome. Seems very promising of course. Right now i would say i average around $90-$110k per year but that is all strictly commission and of course depends on the market. These roles seem more stable since there is a salary + commission for most roles correct?ย 

Wondering of how i can even get started and introduced into AE and similar roles. Any tips?
TennisandSales
Politicker
2
Enterprise Account Executive
yes. almost all Saas AE roles will be base plus commission.ย 

When i was in commission only i had commission rates of 112% 86% 52% depending on the product.ย 
But in Saas you will see MUCH smaller percentages (7-15% of total contract value) but of course having a base makes that easier.ย 

in terms of getting into Saas that is the million dollar questions. The industry will tell you "you need saas closing experience" so I tell ppl to do these things:ย 

1. Look at the industry you are in, do you USE any saas products at work currently? CRM, HR tech, anything? see if those companies are hiring AEs. being a customer can be a helpful point of view.ย 

2. learn the language. in saas they care about the size of your deal in terms of ARR (annual reoccurring revenue) or TCV (total contract value) where as in my first career it was based on monthly premium for a policy.ย 

3. set up your resume to talk about the transferable skills you have.ย 
in financial services, being able to fill out a certain number of "fact finding appointments" per week was a metric. In saas they will call them discovery calls but its the same thing. you are able to run a meeting to identify the prospects needs and explain how your solution can solve those problems.ย 
jefe
Arsonist
2
Head of Sales
When you say tech sales, do you mean hardware, software, SaaS specifically?
musashi
Contributor
3
Loan Originator
yes, Saas and software
jefe
Arsonist
2
Head of Sales
I'd say yes. Software isn't going anywhere, and SaaS is a great delivery model.ย 
TennisandSales
Politicker
3
Enterprise Account Executive
100% agree. saas is not going anywhere. companies love the idea of create a product and then customers have to pay you every year to keep using it haha
jefe
Arsonist
3
Head of Sales
Pisses me off as a consumer though. Why can't I just BUY MS Office!?
TennisandSales
Politicker
2
Enterprise Account Executive
omg yes! As a consumer i fucking HATE Saas hahaha! I just want to buy the thing one time and then use it. what are you doing for me that make me have to KEEP buying it from you???ย 
SADNES5
Politicker
1
down voters are marketing spies
You can... Just have to poke deep to find it.ย 
https://www.microsoft.com/en-ca/microsoft-365/p/office-professional-2021/cfq7ttc0hhj9?activetab=pivot:overviewtab

And you can get a discount if your company has a 365 subscription.ย 
champchamp
Arsonist
4
Enterprise Sales Development Representative
We get you a smiling guy/gal that speaks and gets on a video call with you for 60 min per quarter approximately.

He/She will repeatedly ask if "this makes sense" or if "Anyone has any questions" while your whole team is on mute, cam off and very likely scrolling through models' pics on IG.

Deal? Deal.
NotCreativeEnough
Politicker
2
Professional Day Ruiner
absolutely. Software isn't going anywhere. We may not have the best job security at a specific company, but as far as options for employment go we have plenty.ย 
musashi
Contributor
1
Loan Originator
how would i even start trying to get into it? Seems like every entry level position requires 5 years of experience haha
NotCreativeEnough
Politicker
2
Professional Day Ruiner
Apply. A lot. Go on the jobs page on linked in, search for sdr/bdr jobs, and treat applying/interviewing like its your full time job.ย 

Recruiters are super weird in this industry. if you don't have 200 years of experience they don't want you and then get upset that no one applies. gotta just spam your resume until you find someone who isn't a complete idiot of a hiring manager
realjg95
0
SDR
I'm interested in learning more about what the commercial lending space is like. Is there anyway I can PM you or add you on LinkedIn?
ChumpChange
Opinionated
0
Channel Manager
It's a boom/bust industry that goes through cycles. Tech is always needed so there's going to be a market for new salespeople. However, right now because of recession fears... lots of tech companies are laying off. Just remember... the more specialized the product/market = $$$$$. If it doesn't have a particular niche then the OTE will show.
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