Salary Insights: Senior VP of Sales

We were recently engaged to conduct a search for a Senior VP of Sales for our client, an enterprise SaaS solution for customer support. They currently have approximately 70 full-time employees, and have annual revenue between $5 - $10 million.

This organization was in need of sales leadership to accelerate the growth of their company. The search requirements included: the ability to create and implement the sales go-to-market strategy, streamline and create efficiencies, and hold the growing team accountable to their goals. They needed someone with a track record of growing revenues, with deep understanding of the process of selling complex solutions to large enterprise at a global level. They also wanted someone local to Toronto, who could contribute to the leadership team discussions.

We presented a range of candidates for consideration:

The Selling Leader: $210K base, earnings history consistently over $450K

  • First level sales manager who carries a personal quota
  • Leads a team of 4 Account Executives
  • Experienced with selling software to multiple industries: banks, telcos, utilities, manufacturing
  • Over 25 years sales experience, progressively working up from account manager to VP of Canadian sales

The Growth Rockstar: $170K USD base, typical T4 over $500K USD

  • Over 25 years experience building sales teams for early stage startups
  • Experienced opening up Canada for US companies as the first Canadian hire
  • Does not carry a personal quota
  • Typically leads sales teams of 5-8 Account Executives
  • Experienced taking companies from $0 to $20 - $50MM in revenue

The Unique Unicorn: $300K base, typical earnings well over $500K

  • Brings over 30 years experience and a rigorous sales methodology to their work
  • Successful scaling and driving extreme revenue growth
  • As part of scaling, has grown teams and become a 2nd level leader with Directors as direct reports
  • Experience driving 10X growth — in both revenues and team size

The International Expert: $225K USD base, T4s between $450K - $500K USD

  • Based in the USA with experience working in Canada
  • As the first sales leader in a startup, this candidate had a track record of building a successful team, and then repeating that success building international sales offices
  • Functions as a selling VP, carries a personal quota and a team quota
  • Significant financial services and banking vertical sales experience
  • Was selling a product similar to our client’s, and had global growth experience

The Hire: $220K base, T4s between $500K - $600K

  • 20 years experience, starting in IT management and moving into sales.
  • Recently employed as a GM + VP Sales
  • Strong operational skills, brings rigour and sales science to his team and organization
  • Experienced selling to large, global, enterprise accounts across banking, financial services, telco, public sector
  • Experienced building sales teams and managing at a 1st and 2nd level. Team sizes have ranged from 6-10 to groups as large as 20+
  • Experienced working in startups which have completed an exit/acquisition

To attract the candidate they hired, our client offered a salary of $200K with on target earnings over $500K, and equity of 0.75% with an increase to 1.25% based on achieving revenue milestones.

As you can see, compensation for these candidates varies significantly based on the length and scope of experience, leadership capability, and the industries and verticals candidates had experience working in.

Are you getting ready to grow your sales team? We've created a free checklist to help you refine your requirements, plan the interview process, and get aligned on competitive compensation. 

Sales Hiring Checklist

* * * * * *

For organizations and job seekers alike, it can be challenging to understand what a particular position should pay. Often, it’s a calculation between salary surveys that lack all context, what a person has earned in the past, and ad hoc conversations with others in the field.

We’re sharing market insights into current compensation packages for key roles in the tech industry. Our recruiters conduct targeted searches on behalf of our clients, seeking out candidates who fit the requirements of the role, and diligently qualifying them to present only the very best talent. These posts are meant to highlight the contextual elements that make up compensation, and to help our clients and candidates better understand the current market forces that affect earning potential.

Is your organization hiring key talent that will drive your growth? Book a consultation with our friendly and knowledgeable team of Toronto sales recruiters today—we live and breathe the tech talent ecosystem every day, and can help you understand the market for the talent you need.