Salaries for channel managers can vary based on factors such as level of education, years of experience, company size, and industry. Additionally, channel managers may receive additional compensation through commissions and bonuses.
The pay range for a Channel Account Manager can vary significantly, with differences of up to $56,500. This implies that there could be numerous possibilities for career progression and higher pay based on factors such as skill level, location, and years of experience.
The estimated total pay for a Channel Account Manager at BigCommerce is $217,028 per year, based on our proprietary Total Pay Estimate model and salaries collected from our users.
This figure represents the median, which is the midpoint of the salary ranges.
The estimated base pay for a Channel Account Manager at BigCommerce is $108,572 per year.
The salary range for Channel Account Managers in the US typically falls between $40,100 and $252,500 per year.
The median salary for this role is $113,860.
Currently, the majority of Channel Account Managers earn between $64,000 (25th percentile) and $120,500 (75th percentile) annually, with the top earners (90th percentile) making $165,000 per year across the United States.
To become a channel manager, it is essential to possess experience in the field of marketing or sales. Additionally, thorough knowledge of the products or services being sold and the industry they belong to is necessary. Familiarity in working with vendors and customers can also be advantageous in this role.
An account executive experiences a significant increase in pay with increasing experience, compared to an account manager. In the case of a late-career or highly experienced account executive, their base salary can be 25% to 38% higher than the average, while the increase for account managers is limited to only 13% to 16%.
Having one channel manager working with multiple channel partners can generate equal revenue compared to having five or six salespeople, but at a lower cost. Additionally, it is generally easier to onboard new partners than to hire new salespeople, especially after establishing a successful program.
By obtaining certification as a channel account manager, such as the Certified Sales Professional (CSP), individuals can potentially increase their earnings.
The Certificate in Channel Management is a highly regarded training and certification program for professionals working as Channel Managers. This program, offered by the Institute, has provided certification to numerous Channel Managers in various industries globally, with a specific focus on the technology sectors.
For individuals seeking to enhance their skills in managing channels effectively, the Institute offers online Channel Manager Training, which is specifically designed and certified by experts in the field.
It is essential to design a compensation plan that motivates and incentivizes account growth. This can be achieved by establishing a pay structure that specifically rewards account growth and ensuring that the compensation plans are clearly defined and detailed.
Analyze and identify areas where sales efforts may be lacking in order to address them effectively. Incorporate account growth as a key component in the compensation plan to align sales efforts with the organization's growth objectives.
A survey revealed that only 24% of account managers were able to easily calculate their total variable compensation. Therefore, it is crucial to provide clear and transparent guidelines for calculating variable compensation to avoid confusion and foster a better understanding of how sales efforts directly impact earnings.
A Channel Manager should have a degree in business or sales management, with a focus on marketing, advertising, and business. Additionally, they should possess at least five years of experience in overseeing channel partnerships, along with strong presentation skills. They should also possess proficiency in using various software tools.