If you’re looking for a top salary working in Enterprise SaaS, the UK is the country where you want to be. Compared to Germany, France, Sweden and The Netherlands, earnings are highest there. With most salaries steadily rising, especially salaries of enterprise SaaS sales reps are skyrocketing all over Europe, according to the yearly SaaS Salary Guide performed by Intrinsic Search.
Enterprise SaaS wages highest in the UK
Enterprise SaaS salary levels in 2020 are generally highest in the UK. A VP Sales (CRO) earns on average a salary of GBP 150,000 (Roughly €165,000), which can reach up to GBP 300,000 (Roughly €330,000) if expectations are met (OTE). Base salaries for an Enterprise Senior Sales rep (up to €132,000), Director of Customer Success (€ 154,000 plus bonus), or CMO (GBP 165,000 plus bonus) are all higher than in countries on the European mainland.
This doesn’t necessarily mean Europeans working in SaaS should pack their stuff and leave for the UK, says Ben Watkins, Managing Director of Intrinsic Search. “Enterprise SaaS Sales reps are very well paid, especially when compared to other industries such as IT Hardware. There’s not one particular country which is better to work for. It is all down to personal choice.”
Across the pond, the largest sum in enterprise SaaS is earned in Sweden. Converted to euros, a Senior Sales rep can make up to € 250,000 OTE which is more than in Germany, France, and The Netherlands. In France, salaries in enterprise SaaS are generally slightly lower. “SaaS salaries in Southern Europe, in general, are lower than Northern and Western Europe,” notices Watkins. “One reason could be the cost of living. We have also noticed that France-headquartered Saas firms often pay less when hiring not just in France, but also in other parts of Europe. For this reason, many French SaaS Sales Execs, often work for US-headquartered SaaS firms like Oracle and Salesforce.”
Sales Salaries skyrocketing, but for how long?
This year marks the 10th time that the Annual SaaS Salary Guide is published. In the past years, wages for enterprise SaaS sales reps are generally rising rapidly. All over Europe, salaries of enterprise SaaS Sales reps have increased with 25 to 30 per cent over the past three to four years. In the UK an average Senior Sales SaaS package has risen from GBP 90,000 base and GBP 180,000 OTE to GBP 110,000 base and GBP 220,000 OTE.
A similar surge happens in Germany, where it is notoriously hard to fill vacancies. Watkins thinks that might not last though: “I believe the salary inflation will slow down now due to Covid and the market forces. German-headquartered SAP’s shares recently slid recently 22 per cent due to various reasons. So I believe German salaries have peaked. If more Enterprise hires are made in Berlin, then they could even dip.”
Salaries remain high, despite COVID-19
It is however remarkable how commercial SaaS salaries in Europe appear to be holding firm, with a global pandemic disrupting many aspects of daily life, says Watkins: “Although of course for many sales-related executives, there has been a big switch from face to face to remote selling. Many already employed executives are sitting tight in roles making candidate choice smaller in some cases. This is particularly the case in Germany and could be one reason why salaries are so high.”
These numbers are not set in stone, however. According to Intrinsic Search, depending on vertical market focus, employer size, the complexity of the sale, funding and contract value can all be of influence on one’s salary. Aforementioned could result in variations by a factor of plus or minus 10 per cent. The numbers also exclude car allowance or other employer benefits. For Sales Execs, the annual sales target and deal size can affect the basic salary.
Check out the annual SaaS Salary Guide
Over the past years, the annual SaaS Salary Guide has become a well-known remuneration tool for many SaaS companies. The guide is created by Intrinsic Search, a leading boutique executive search firm, specialising in the headhunting for high level, qualified personnel for SaaS firms all over the world. To find out more about salaries in enterprise SaaS roles, contact Intrinsic Search or download the free SaaS Salary Guide here.
