Sales Execs Shine in Salary Survey
May 7, 2007-- Home Textiles Today,
The current decade has been a very good one for home textiles sales executives — but not quite as good for the managers to whom they report.
According to the 2007 Home Textiles Salary Guide provided exclusively to HTT by home textiles executive search firm Westover & Associates, the average base salary of sales execs working for home textiles suppliers is $97,300, up 34% from the 2000 Guide finding of $72,300.
Sales managers responding to the 2007 survey had an average base salary of $136,900, up 16% from $117,700 in 2000.
This 34% boost by sales execs handily surpassed the general inflation rate for the period, which ran at a 19.9% cumulative rate between January 2000 and January 2007, according to InflationData.com, which bases its figures on federal statistics for the Consumer Price Index.
The difference in total packages was even more dramatic. Home textiles sales executives currently post an average total compensation of $136,300, a full 51% more than the average total compensation in 2000. Sales managers recorded an average total compensation of $184,700, a 25% gain from the 2000 average of $147,900.
And how does the outlook appear?
"I'd say it's looking promising," said Catherine Westover, president of the search firm, noting it is still early in the year but pointing to a "huge upswing in placements" during 2006.
"Quieter companies have been growing the business," Westover elaborated. "A lot of our regular customers are restructuring, while some of the new customers have been operating 'under the radar' and are now expanding."
The company's client base comprises home textiles suppliers that are "financially stable and doing well." Most are considered larger companies within the industry, with $50 million and above in annual sales.
In another trend since the 2000 survey, Westover pointed to education levels. While the 2007 results show that 13% of sales execs have no degree, that figure was 19% in 2000. For sales managers, a mere 3% today have no degree, compared to 11% seven years ago.
Full results of the survey are available at westoverinc.com.
In our next issue, HTT will publish selected results from the designer and product development segment of the 2007 Home Textiles Salary Guide.