When will pricing professionals make over a million dollars a year? Or are they already?
With pricing teams generating tens of millions of dollars if not sometimes a hundred million it would make sense that pricing professionals get compensated based on that production. So, when we will see our first million dollar a year compensation? Or do we already have some people who are making over a million dollars a year?
According to the salary data, we already have pricing professionals making over a million dollars a year. However, they are all in technology industry with most of their compensation coming from stock, which could be more of a reflection of the company than the pricing impact. Also, those people have an average base salary of only $300K. So, when will we see a pricing professional making a million dollars in base salary?
Currently the top base salaries are in the $400,000’s with some rumored to be in the $500,000’s. We have a long way to go before top base salaries are in the millions. That being said, I would expect the compensation to be a factor of performance and so a large portion of that million-dollar compensation should be in bonus. Which brings up the question: how should pricing professionals be compensated? Should we be pushing to get compensated more on our impact than just a flat base salary and 20-40% bonus? What do you think?