Tech Sales: Why Technology Is the Best Industry for Salespeople
Jan 09, 2023If you're contemplating a career in sales or thinking of transitioning to a different industry, look no further than the world of technology. With both B2B and B2C tech companies flourishing worldwide and actively seeking new talent, tech sales offers numerous opportunities. From selling SaaS and cloud products to cybersecurity solutions, machine learning tools, and e-commerce solutions, the tech sales landscape is brimming with potential. In this article, we present three compelling reasons why a career in tech sales should be at the top of your list.
- Tech: The Fastest Growing Industry Globally Tech sales is an ideal choice because the technology industry is experiencing unprecedented growth. Currently valued at a staggering $5 trillion, the global technology market is projected to maintain a compound annual growth rate of 5% through 2024. This not only means higher earning potential but also an abundance of sales positions, particularly in the United States—the largest tech market globally. Europe also offers significant opportunities, accounting for approximately one-fifth of technology spending worldwide. According to a 2021 study by Merchant Machine, the fastest-growing companies in Europe and the U.S. were predominantly tech companies, surpassing other industries such as support services and construction.
Moreover, disruptive technologies, especially SaaS and IT business models, are rapidly replacing traditional brick-and-mortar businesses. Software and services alone comprise 56% of the total worldwide technology market. Additionally, the growth of tech-enabled sectors like Ed-Tech, Health-Tech, and Fin-Tech, which were accelerated by the COVID-19 pandemic, further adds to the promising prospects of a career in tech sales.
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Lucrativeness of Tech Sales If financial rewards are a priority, tech sales offers unparalleled opportunities. According to the U.S. Labor Department, tech sales representatives earn a median annual wage that is more than double the median for all workers. In booming industries, your hard work directly correlates with your earning potential. CNBC ranks software sales among the seven highest-paying jobs in the U.S., with salary ranges on Glassdoor spanning from $50,000 to $141,000. Business Insider even labels tech sales as the "most in-demand" job within the tech industry.
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Constant Evolution and Reinvention Technology continually drives innovation and dominates the startup ecosystem. Cloud-based technologies and the modernized world have propelled the growth of tech startups, resulting in a remarkable 47% increase since 2007. Each year, approximately 1.35 million tech startups are launched worldwide, making the industry a hotbed of innovation, disruption, and excitement. By choosing a career in tech sales, you immerse yourself in an environment that fosters outside-the-box thinking and entrepreneurship. The industry thrives on constant evolution, ensuring that your days will never be mundane.
Tech sales also offers the freedom to shape your own career path, providing opportunities for travel, and allowing you to interact with fascinating and motivated professionals from diverse backgrounds. It is widely regarded as one of the most challenging sales industries, guaranteeing that your journey will be intellectually stimulating and personally fulfilling.