What is an account executive and how much do they make?
What is an account executive?
An account executive is a sales professional inside of an organization that is tasked with selling the company’s product or service to potential customers. Most of the time account executives will be working on closing the deals, whereas SDRs or BDRs are tasked with prospecting and cold outreach. Account executives mainly work with the other members of the sales teams but can also be involved on the marketing and product side of the equation, pending on the company you are at. You will also be tasked with managing the CRM, which is used to keep track of all the leads in your pipeline. Some of the most commonly used CRMs are Salesforce, Hubspot, and Pipedrive.
Do account executives make a lot of money?
It depends I guess what you think “a lot” of money is. but yes, account executives can make a lot of money. The average OTE or on track earnings for account executives is a whopping $216,000. This is for enterprise account executives, but you can still make $150,000+ as a mid-market or SMB account executives. If you are a top performer you can make over a million dollars per year at the right company.
To see the companies where it’s possible, go here, to explore salary data from thousands of account executives.
How do account executives get paid?
Your total compensation as account executive will be broken down into a base salary and commissions. Common practice in the industry is to have a 2x base OTE, which means if you have a base salary of $100,000, you can expect your quota to be around $200,000. You can also earn multipliers and other bonuses if you hit certain milestones above quota or make it into Presidents Club. You will get a W2, unless you are a contracted sales professional, and usually get paid every 2 weeks.
Do account executives have a base salary?
As mentioned before, most account executives roles will have a base salary and a commission component, but that isn’t always the case. Some businesses just starting out might not have the capital to give a good base salary while ramping up, but at most quality companies you should expect at least some level of base compensation. To explore sales jobs with good base salaries go here.
Is an account executive a high position in the company?
Yes, account executives play an integral role in the company and you can fairly quickly move your way up to VP of Sales and CRO and other potential higher level roles. Also, Account Managers and Account Executives usually are considered in the same hierarchy. BDRs and SDRs are usually considered a lower level or entry level sales role, and you work you way up to Account Executive.
Is being an account executive a stressful job?
Compared to most jobs, being an account executive is probably more on the stressful side. This depends greatly on the company you are at though and how realistic your quota is set. It also depends on your mindset or type of person you are. People feel stress differently than others. Also in most cases, if you are making good money, you aren’t really stressed. To find sales orgs that pay the most go here.