rainmakerinthemaking

Enterprise Sales executive

Whats your comp plan like?

Hi all,

I recently joined an IT system integration company and my MD has yet to share with me my quota and com plan. Is anyone facing the same problem?

I just closed the biggest manage service deal in the company for the last 2 years, will this affect anything?

I'm also curious what all your com like?

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braintank

Politicker

Enterprise Account Executive

Mine outlines my quota and how much I'll get paid.

Typically there is a delay between new year and new comp plan. How long have you been there?

If you're concerned about a specific deal I'd bring it to your MD.

CoorsKing

WR Officer

Retired King of the Coors Knights

I typically don’t get mine until the end of Q1.

It might, quotas aren’t set until they send out the docs so always a risk there closing a whale early in the year.

JustGonnaSendIt

Politicker

Burn Towns, Get Money

I made a post elsewhere outlining this... but here's a quick summary:

Usually comp is thought of in terms of On Target Earnings (OTE).

This typically has 2 components - Base pay and Variable pay. Base being your salary, or guaranteed income. Variable being the component that depends on your performance.

Variable pay takes lots of shapes and has a variety of requirements or gates to maximizing it's value. It's the ire of both reps and leadership alike to get an effective and attractive variable pay plan in place. Typically this will involve specific metrics over time, such as an annual or quarterly quota.

If you have a large deal coming down the line, not having a clearly defined variable pay component is both an opportunity and a risk.

You have the opportunity to leverage your performance to get attention to the issue from your leaders. However, you also have the risk of this one deal setting tough expectations OR getting shafted on payout since it's not clearly defined today (or both).

The best route out of this is a plain language conversation with your MD. You're working hard on their behalf to get this deal done, and you would expect them to work hard on your behalf to make sure you're fairly compensated, and have clarity on the expectations and benefits associated with that compensation.

rainmakerinthemaking

Politicker

Enterprise Sales executive

Hey @JustGonnaSendIt you are on point with what's on my contract. I have a cap on variable payables. They did not state out how much will I be paid if I close a deal on a certain condition or margin.

JustGonnaSendIt

Politicker

Burn Towns, Get Money

OOOOF, capped commission? That's crap.

It's important to sit down and have your MD explain what each incremental deal does for you comp-wise.

If they're being mysterious about it, combined with the capped variable... I'd start looking.

Although many comp plans are complicated, they do tell you how you get paid, for what, and how much. IF they can't give you some insight that's a red flag that you're going to get fucked around.

Sunbunny31

Politicker

Sr Sales Executive 🐰

It's a bit surprising that you didn't have at least a comp plan when you joined, but hopefully that will be settled soon, and I hope you are compensated very well for your excellent deal.

It's not uncommon for quotas to take a few months to settle after the beginning of the FY.

rainmakerinthemaking

Politicker

Enterprise Sales executive

well, I was rushing to get away from my previous company. My current company offered me a 20% increase so I took it wouldn't much hesitation and I didn't expect my pipline to be healthy so soon.

TennisandSales

Politicker

Head Of Sales

it is not uncommon to not have a comp plan yet.....although its super annoying.

for you deal you just closed (first off congrats!) its hard to say. how often do you get paid on commissions? if its monthly, you may have to get comp'ed on the old plan.

if its quarterly maybe you have a chance to get it on the new plan. (not sure what one is best obviously)

You should still get paid though hhaha

DungeonsNDemos

Big Shot

Rolling 20's all day

I got my comp plan before accepting the position as I didn't want any surprises. I've joined a company in the past and made the mistake of not knowing. Then they took 2 months to get me a plan which was different than expected.

Congrats on the deal! I hope you are paid fairly.

NotCreativeEnough

Big Shot

Professional Day Ruiner

you signed an offer letter without knowing the comp plan? I always make sure to get, at a minimum, a high level overview of the comp plan before I join a company. Showing me an OTE is great, but what is expected of me to hit that number and how do I do it?

markedclosedwon

Big Shot

Account Executive

@rainmakerinthemaking check out the Bravado comp guide: https://bravado.co/salaries#ae-guide

For more accurate numbers, you should also see Glassdoor and RepVue.

Finally you could also reach out to competitors on LinkedIn and do a "I'll show you mine, if you show me yours" hahaha

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rainmakerinthemaking

Whats your comp plan like?

11 comments

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