Learn more about the Executive VP of Sales salary. This is an additional motivation for you to pursue the position. We will also discuss here some skills to acquire.
Let’s begin.
Introduction about Executive VP of Sales
The Executive Vice President of Sales (VP Sales) is one of the most powerful positions in an organization. It reports directly to the CEO. The VP of Sales is the leader of all sales functions worldwide. He/she is responsible for setting the annual sales budget, forecast, and plan for the organization. The VP of Sales makes sure that all projects are carried out by the assigned budget and adheres to the schedule.
The VP of Sales also considers every necessary aspect that will influence the success or failure of a project. He/she considers each project’s environment, market strategies, and market trends, competitors, and customers.
Executive VP of Sales Salary
The Executive Vice President of Sales (VP Sales) Salary is very attractive. As a result, it is difficult to find the right person to fill the position. The salary for this position varies from industry to industry and company to company. Here are some of the average salaries for this position in different industries.
Industry Average Salary
- Commercial/Retail/Wholesale $271,500
- Electronics, Electrical, Computers $300,000
- Finance/Banking/Investment Banking $372,000
- Machinery/Engineering/Manufacturing $390,000
- Pharmaceuticals/Healthcare Products $391,100
- Telecommunications $419,500
- Executive VP of Sales are $694,800
Skills for Executive VP of Sales
Although you do not need a college degree to be considered for this position, it is recommended. It is also recommended that you have several skills and demonstrate leadership and management skills.
Here are the skills needed for the Executive VP of Sales:
Leadership and management skills
One of the most important skills for the Executive VP of Sales is leadership and management skills. The VP of Sales must demonstrate that he/she can manage people. He/she must also demonstrate that he/she has the necessary skills to motivate his/her employees to meet the organization’s goals.
In addition, the VP of Sales must show that he/she can solve problems and make decisions quickly. The VP of Sales must also be able to delegate work and train others.
Communication and negotiating skills
The VP of Sales must have excellent communication skills. Communication is a key attribute for this position since this person is responsible for communicating with many people from different departments and levels of the organization. The VP of Sales must be able to speak clearly and persuasively to influence people.
In addition, the VP of Sales must be able to negotiate agreements with internal and external customers, vendors, and suppliers. A strong negotiating skill is important for this position because the VP of Sales will be responsible for managing the company’s contracts.
Problem-solving and decision making skills
These are also necessary skills required for this position. The VP of Sales must be able to analyze a situation and make a decision promptly. Many decisions will have a direct impact on revenue generation, so these decisions must be made quickly to avoid loss of income.
In addition, the skills of problem-solving and decision-making are important to maintain the relationship with the organization’s customers. When there are problems, the VP of Sales must be able to solve these issues quickly to maintain the company’s reputation in the market.
Analytical and critical thinking skills
Another important skill for this position is analytical and critical thinking skills. The VP of Sales must be able to analyze data and come up with a logical solution to a problem. These skills are necessary for this position because it requires a thorough evaluation of a situation before making a decision.
Ability to influence and motivate others
The Executive VP of Sales must have excellent people skills. Being able to influence and motivate people is one of the key attributes of this position. This person must be able to influence and motivate employees to perform their best. This person should also be able to influence and motivate customers to buy the company’s products and services.
In addition, this person must be able to influence and motivate the top management of the organization to make decisions that will positively impact the company’s revenue generation.
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