Account Executive Salary
Total annual pay for Account Executives is approximately $55K, and commissions account for a significant portion of this final number — just under one in three on average. Account Executives can also look forward to large paychecks at Procter & Gamble Co ($90K), Amazon.com Inc ($88K), and AT&T Inc. ($84K). The data for this snapshot was collected from individuals who took PayScale's salary survey.
Job Description for Account Executive
An account executive usually holds a sales position, typically selling services and products to other businesses and individuals. Generally, the executive's company sets sales quotas that must be met to succeed in this position. The account executive may be provided with clients and/or carry out research and recruiting to gain prospective clients; some cold calling may be necessary. When prospective clients are identified, the executive must work to discover those potential clients' needs and make targeted pitches for services and products that will fulfill their needs; they must then work to close the sale.Read More...
After the sales transaction has been carried out, the account executive may work with customer service teams or work directly from clients to determine if products are to clients' satisfaction. When problems are encountered, the account executive may help develop solutions. It may also be essential to work with other areas of the marketing department, such as advertising. The account executive should foster healthy relationships with clients to encourage future purchases.
A bachelor’s degree in an area such as marketing may be needed for these positions, and previous related experience may be required or preferred. Proficiency with basic computer programs is needed, as are strong customer service and communication skills.
Account Executive Tasks
- Solicits and maintains contact with current and prospect key accounts.
- Sell the organization's products and/or services to established customers or new prospects.
- Track activity, prepare and maintain records for sales leads and account status.
- Handle entire inside sales process from proposal to close; reach or exceed sales quotas.
- Attend special training of products and/or services to understand technical aspects of solutions.
Common Career Paths for Account Executive
At the upper end, Account Executives who move into a Business Development Director role can end up with a hefty increase in pay. The average income for Business Development Directors is a much higher $112K per year. Typical career progression for an Account Executive involves becoming a Senior Account Executive or a Marketing Manager, roles that pay $10K more and $6K more on average.
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Popular Skills for Account Executive
Account Executives report using a large range of skills on the job. Most notably, facility with Strategic Sales, Contract Negotiation, and Business Development are correlated to pay that is significantly above average, leading to increases of 27 percent, 19 percent, and 15 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Media / Public Relations, Marketing Communications, and Microsoft Office. Most people experienced in Account Management also know Account Sales and Business Development.
Pay by Experience Level for Account Executive
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Account Executives with a rich background of experience are typically rewarded with larger paychecks. Respondents with less than five years' experience take home $48K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $62K. On average, Account Executives make $71K following one to two decades on the job. Account Executives who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $75K.
Pay Difference by Location
For Account Executives, San Francisco provides a pay rate that is 18 percent greater than the national average. Account Executives will also find cushy salaries in Seattle (+14 percent), Austin (+11 percent), Boston (+10 percent), and Los Angeles (+9 percent). In Miami, salaries are 14 percent below the national average and represent the lowest-paying market. Workers in Dallas and Atlanta earn salaries that trail the national average for those in this profession (6 percent less and 2 percent less, respectively).
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