Some interesting data from Payscale, the compensation software firm, about people's perceptions over whether they are paid a fair wage or not . It isn't Sales Engineering specific, but I've a few thoughts about that at the end.
This is the data from a survey of 71,000 . it shows that even if you are paid at or above the market rate, there is still a good chance that you feel you're underpaid relative to your peers. A massive 60% of employees who are underpaid say they intend to leave - compared to 39% of employees who are overpaid. (The report notes that presumably they are unhappy for many other reasons!).
The lesson for SE Leadership here is that if someone is being paid under the market rate - there is a 5 in 6 chance that they know it and a 60% chance they will take action. Even being paid at market (so at the 50th percentile) 2 in 3 SE's will still think they are underpaid. So .. if your pay package (it's more than just base salary + commission/bonus) is truly competitive - make sure the SE team knows it!! Reinforce it, with realism, at every opportunity.
And a word to the wise, don't rely on those comparison reports HR/Finance obtain from independent salary/consulting companies unless the companies surveyed are a true comparison to yours (and they rarely are). Remember that there is always some other company out there who is willing to "buy" your SE's and pay more for them. Money is one of the major reasons that SE's leave a company, Management is another, and Lack of Belief in the product is a close third.
Perception is reality!! Get real.
This is the data from a survey of 71,000 . it shows that even if you are paid at or above the market rate, there is still a good chance that you feel you're underpaid relative to your peers. A massive 60% of employees who are underpaid say they intend to leave - compared to 39% of employees who are overpaid. (The report notes that presumably they are unhappy for many other reasons!).
The lesson for SE Leadership here is that if someone is being paid under the market rate - there is a 5 in 6 chance that they know it and a 60% chance they will take action. Even being paid at market (so at the 50th percentile) 2 in 3 SE's will still think they are underpaid. So .. if your pay package (it's more than just base salary + commission/bonus) is truly competitive - make sure the SE team knows it!! Reinforce it, with realism, at every opportunity.
And a word to the wise, don't rely on those comparison reports HR/Finance obtain from independent salary/consulting companies unless the companies surveyed are a true comparison to yours (and they rarely are). Remember that there is always some other company out there who is willing to "buy" your SE's and pay more for them. Money is one of the major reasons that SE's leave a company, Management is another, and Lack of Belief in the product is a close third.
Perception is reality!! Get real.
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