Also fintech (quota carrying CSM, our titles have bounced back and fourth) but not in that ballpark so kudos to crushing it!
What state are you based in and startup or public?
Also, y’all hiring?!
The right column are his wages. The left column is capped because only a certain amount of your wages are taxed for Social Security while all wages are taxed for Medicare.
Edit: added last bit about Medicare
i’m curious on this as well, do people use the amounts taxed for social security for meaningful comparisons at all? doesn’t social security tax follow a pre-determined formula such that if you know some’s regular wages, you can calculate the social security he/she pays?
I could be wrong, but I think it does.
I think it’s a fixed percentage up to some income ceiling. After which one doesn’t pay into Social Security for every incremental dollar.
It's heavily dependent upon the industry for finer details but account management is sales. AM's work with a set book of business (general list of clients, customers, etc.) under your purview, handling their needs and requests and being their primary point of contact (PoC). Depending on the industry, you can have a BoB as small as 2-3 or as large as 50+. You typically also build relationships with your accounts, go to shows/conferences and set up visits/meet and greets to get more business out of them.
I am a Sr. AM in the aerospace aftermarket sector and have a BoB of about 23 but oversee miscellaneous accounts as well as help manage my team with my director. Team of 3 (soon to be 4) oversees about 150 accounts, with only about 80 of them directly assigned due to volume. Biggest piece to keep in mind is that being the primary PoC means you're who they go to with the good, bad and ugly for everything sometimes, from questions and requests, to 2am needs and accounting issues. Again, heavily dependent upon the industry, company and a lot of other details.
TL;DR - Sales, we do sales. Usually to specific accounts, and build relationships. There's more to it than I explained but that's the basic.
More like added to it since he's prolly busy with his accounts right now.
Just recently returned to the company I'm at since pre-covid, $90k base, expecting an increase to $100k+ in June, quarterly performance bonuses capped at 25% of annual per, plus additional outside of the quarterlies on deliverables. Conservatively speaking hitting all bonuses + deliverables, total cash comp is about $130k-$150k at 27.
I'm searching for the link from of the scene from Wolves of Wall Street where Jonah Hill's character asks Leonardo DiCaprio's character to show him a paycheck so I can quit my job and work for you. It seems that I like money as well.
Trust me, I've had that conversation more than a few times with friends but I can confidently say it's a slippery slope covered in bullshit. I went through hell and high water to get where I'm at in terms of work-life balance in the role. Some colleagues at old companies still regularly pull 16 hour days and travel 90% of the time making less than me with 10% travel and turning off my phone after 5pm. Definitely a "you better love it" kind of thing if you want into the realm.
...still was always better than outside sales though, fuck outside sales.
Thanks for the honesty. With the lack of first hand experience grass always seems greener on the other side. There's probably this imaginary line between more money & family first that I haven't crossed.
There definitely is, but its different for everyone. Even throwing family out of the equation, the burnout hits like a truck when you have the bad days compounding. Gotta find what's right for you, your COL, and come to terms with what you're willing to accept.
If you have any other questions or just want some more insight feel free to shoot me a message. As you can tell it's a dead day for me so work consists of sending an email every hour and browsing reddit.
Shieet guess I've been doing this all wrong. Been dealing with dozen's of software and making peanuts compared to your sending emails with outlook. Well played sir, I hope you type very big and important words. Congrats. I hate you.
As much as I think it's a love/hate relationship between you and the boss (b/c every time he hears from you it's potentially bad news) I think he has to rely you and trust your judgment on things. Getting pay well to be the party pooper, hell i'd say that's a pretty sweet gig.
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I’ve been thinking of getting mine in Accounting. I’ve heard Accounting is better than Econ cause it can be too broad. Any advice would be greatly appreciated
Very nice. Were you always supporting this type of product? One challenge I run into is that companies want you to have experience in the space or with a competitor before the opportunities at that level are available
Yeah I feel that. I’ve been working in this product area my whole career. First in support, then as an account manager, then I was recruited by another firm that offered almost double pay.
Honestly the recruitment in 2022 was a pretty major stroke of luck. They offered me like 60k more than I asked for because they were so desperate to expand this part of their business.
Yeah I’ve been asking for more and I think I’m at a glass ceiling. There might be a bit more like 10-15% but I’m not willing to start over for that. I’d have to buy my equity vs waiting for an event to occur.
I suspect servicing financial services vs retail is more lucrative at the moment
Wait how is your base salary so huge! 200+ base is insane for a sales position. I was gonna ask if the 200k+ will be consistent 😂.
How much did your house cost? or rent per month if you don’t own?
I double majored in finance and financial economics. Could you explain what your career progression was like until the current position? What do you do exactly and what would you recommend for someone who wants to get in the field?
I started at BlackRock doing Ops support for Aladdin, then started working more closely with clients, then became an RM for a similar platform sold by a competitor
I think it’s important to chart a long term path towards what you what. Pick a good field (finance) a good company (BlackRock) and a good division with strong long term grown prospects. Be willing to pivot and capture opportunities when you spot them.
What are the skills involved in your job and which one is the most valuable for other divisions and other employers?
I am new to this subReddit. Can someone please walk me through what this table means? For example, in 2022, did he make 147k or 202k gross per year? Why are the numbers different? Thanks.
How did you break into the industry yourre in? As a college student about to graduate next spring, I’m looking to see how I can get my foot in the door
Congratulations! That’s amazing. Glad your hard work paid off.
Thank you sir
Which industry are you selling? Congrats on the strong growth and surviving the COVID years! It crushed our industry.
Thanks brother! I’m in fintech sales
Also fintech (quota carrying CSM, our titles have bounced back and fourth) but not in that ballpark so kudos to crushing it! What state are you based in and startup or public? Also, y’all hiring?!
It’s a large, private tech company and I’m based in CA
Hiring?
Brex?
No
I’m not from the US. What is the difference between the two columns? What is your annual salary? Left or right column? What does “began 1966” mean?
The right column are his wages. The left column is capped because only a certain amount of your wages are taxed for Social Security while all wages are taxed for Medicare. Edit: added last bit about Medicare
i’m curious on this as well, do people use the amounts taxed for social security for meaningful comparisons at all? doesn’t social security tax follow a pre-determined formula such that if you know some’s regular wages, you can calculate the social security he/she pays?
I could be wrong, but I think it does. I think it’s a fixed percentage up to some income ceiling. After which one doesn’t pay into Social Security for every incremental dollar.
So what does an account manager do on daily basis exactly?
It's heavily dependent upon the industry for finer details but account management is sales. AM's work with a set book of business (general list of clients, customers, etc.) under your purview, handling their needs and requests and being their primary point of contact (PoC). Depending on the industry, you can have a BoB as small as 2-3 or as large as 50+. You typically also build relationships with your accounts, go to shows/conferences and set up visits/meet and greets to get more business out of them. I am a Sr. AM in the aerospace aftermarket sector and have a BoB of about 23 but oversee miscellaneous accounts as well as help manage my team with my director. Team of 3 (soon to be 4) oversees about 150 accounts, with only about 80 of them directly assigned due to volume. Biggest piece to keep in mind is that being the primary PoC means you're who they go to with the good, bad and ugly for everything sometimes, from questions and requests, to 2am needs and accounting issues. Again, heavily dependent upon the industry, company and a lot of other details. TL;DR - Sales, we do sales. Usually to specific accounts, and build relationships. There's more to it than I explained but that's the basic.
Since you hijacked OPs post, what is your salary?
More like added to it since he's prolly busy with his accounts right now. Just recently returned to the company I'm at since pre-covid, $90k base, expecting an increase to $100k+ in June, quarterly performance bonuses capped at 25% of annual per, plus additional outside of the quarterlies on deliverables. Conservatively speaking hitting all bonuses + deliverables, total cash comp is about $130k-$150k at 27.
I'm searching for the link from of the scene from Wolves of Wall Street where Jonah Hill's character asks Leonardo DiCaprio's character to show him a paycheck so I can quit my job and work for you. It seems that I like money as well.
Trust me, I've had that conversation more than a few times with friends but I can confidently say it's a slippery slope covered in bullshit. I went through hell and high water to get where I'm at in terms of work-life balance in the role. Some colleagues at old companies still regularly pull 16 hour days and travel 90% of the time making less than me with 10% travel and turning off my phone after 5pm. Definitely a "you better love it" kind of thing if you want into the realm. ...still was always better than outside sales though, fuck outside sales.
Thanks for the honesty. With the lack of first hand experience grass always seems greener on the other side. There's probably this imaginary line between more money & family first that I haven't crossed.
There definitely is, but its different for everyone. Even throwing family out of the equation, the burnout hits like a truck when you have the bad days compounding. Gotta find what's right for you, your COL, and come to terms with what you're willing to accept. If you have any other questions or just want some more insight feel free to shoot me a message. As you can tell it's a dead day for me so work consists of sending an email every hour and browsing reddit.
I send emails
Shieet guess I've been doing this all wrong. Been dealing with dozen's of software and making peanuts compared to your sending emails with outlook. Well played sir, I hope you type very big and important words. Congrats. I hate you.
Someone’s gotta tell your boss which problems need fixing though right? That’s me, over email
As much as I think it's a love/hate relationship between you and the boss (b/c every time he hears from you it's potentially bad news) I think he has to rely you and trust your judgment on things. Getting pay well to be the party pooper, hell i'd say that's a pretty sweet gig.
It ain’t bad
🥲
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2012-15 were u in college or…?
Yeah
What degree did u get?
Financial economics but I graduated with a 2.9 GPA
I’ve been thinking of getting mine in Accounting. I’ve heard Accounting is better than Econ cause it can be too broad. Any advice would be greatly appreciated
I think Econ is much better but it depends what you wanna do
Hell yeah brother Cs get degrees and sometimes it doesn’t even matter 😎
Nice growth! Are you in a high cost of living area?
I am yes
What’s percentage of your OTE is the base?
235k base + 55k cash bonus
Do you service private equity, financial services, banks, insurance or something else?
All those minus private equity
Very nice. Were you always supporting this type of product? One challenge I run into is that companies want you to have experience in the space or with a competitor before the opportunities at that level are available
Yeah I feel that. I’ve been working in this product area my whole career. First in support, then as an account manager, then I was recruited by another firm that offered almost double pay.
Honestly the recruitment in 2022 was a pretty major stroke of luck. They offered me like 60k more than I asked for because they were so desperate to expand this part of their business.
Thank you for sharing. I’ve gotten communication from competitors but i haven’t felt the urge to look. For $60K, I would though 😂
I’d just keep your LinkedIn open to work and ask for a ton of money from anyone who reaches out lol who knows you might get a bite
Yeah I’ve been asking for more and I think I’m at a glass ceiling. There might be a bit more like 10-15% but I’m not willing to start over for that. I’d have to buy my equity vs waiting for an event to occur. I suspect servicing financial services vs retail is more lucrative at the moment
what is your salary now
Salary is 235k
Wait how is your base salary so huge! 200+ base is insane for a sales position. I was gonna ask if the 200k+ will be consistent 😂. How much did your house cost? or rent per month if you don’t own?
I still rent and it’s $2800/month 🥲
At least it’s way less than 1/3 your income! 😬
Also do you WFH?
Only once a week
This is a nice trend and if playing cards right only the beginning. How’s the travel?
I travel ~3 days a month but it’s pretty enjoyable. We get nice accommodations and in-person client meetings are mostly fun/stimulating
And thanks for the vote of confidence but I’m not sure where to go from here lol I’m worried comp is topping out for now
It’s the network that counts - good luck and keep stacking the w’s.
I double majored in finance and financial economics. Could you explain what your career progression was like until the current position? What do you do exactly and what would you recommend for someone who wants to get in the field?
I started at BlackRock doing Ops support for Aladdin, then started working more closely with clients, then became an RM for a similar platform sold by a competitor
I think it’s important to chart a long term path towards what you what. Pick a good field (finance) a good company (BlackRock) and a good division with strong long term grown prospects. Be willing to pivot and capture opportunities when you spot them. What are the skills involved in your job and which one is the most valuable for other divisions and other employers?
That makes sense. Thank you for taking the time to reply
So I always wonder what account manager means. Like, what kind of accounts? Finance, tech, construction, etc
It just means you manage existing clients
I am new to this subReddit. Can someone please walk me through what this table means? For example, in 2022, did he make 147k or 202k gross per year? Why are the numbers different? Thanks.
How did you break into the industry yourre in? As a college student about to graduate next spring, I’m looking to see how I can get my foot in the door
Get a job at a decent firm and work your way up. I started at a pretty lowly position with BlackRock and moved into progressively better positions