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Most of the SaaS businesses now realize the value of having a well-equipped customer success manager and team to root the evolving success of their company. Satisfied clients are beaming with renewals and expanding the base, ensuring steady growth in the financial facets. In such a case, the topi
Most of the SaaS businesses now realize the value of having a well-equipped customer success manager and team to root the evolving success of their company. Satisfied clients are beaming with renewals and expanding the base, ensuring steady growth in the financial facets. In such a case, the topic of customer success manager salary is like a coffee bean that everyone eyes to spill. Luckily enough, this blog helps you do that. It helps you delve into the compensation structure of the customer success managers along with the burning salary trends. Let’s go now.
While there is an ongoing debate in the customer success business over the best customer success manager salary structure, most of these compensations center around this:
Here, a fixed amount is paid in return for the work which you perform without any given bonuses or perky commissions. Or any of the variable elements that can increase the total compensation. I guess it is safe to say that there is still no motivation to overachieve the decided target or performance standards. Happily enough, there is no penalty charged for performing below the par.
Now here you will see a fixed amount being paid coupled with a bonus component for the teams that complete a set of projects or objectives. Meanwhile, bonuses align the client success manager. And their teams with any of the company objectives and the key performance indicators, KPI such as NPS, training, and development or expansion of the client base.
Interestingly, here a fixed amount is put up with a variable component based on the individual customer success manager performance. Aside from this, incremental and easy to measure targets that are directly related to the revenue are set. This will help incentivize customer success manager to exceed their goals.
However, the variable payment does not really limit the generation of revenue alone. Some of the other metrics like unpaid training and level of adoption could also be tracked and compensated as well.
One of the latest reports published by the LinkedIn and the State of the Customer Success Profession for 2019, says that customer success manager is one of the most demanding and quicker expanding jobs in the year 2019. Let us see how the performance of the trends in the States.
While the average salary hovers somewhere around $80,000 to $90,000, there are still some hitches and bumps. Texas claims its average to be within $90,000 to $100,000 whereas New York claims it around $80,000 to $90,000. Surprisingly, it is still on the same page for the mean salary in Washington as well. In the states of Chicago and Minneapolis, the average is somewhere around $85,000 to $90,000.
In a similar fashion, the average customer success manager salary in Austin takes a notch down with a cumulative mean of $60,000 to $65,000. However, it revives back in Atlanta with a whopping mean salary of $75,000 to $80,000. It shows a similar pattern for the statistics acquired by Denver as well.9
Goes without saying, it is the Client success manager who has a lot to do with the success of the company. It is almost safe to say that the performance and the revenue generation are directly proportional. Being the focal point of contact between a client and a company, you will have to have all the requisites qualities for bringing out glory to your company.
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her ‘gift of the gab’ to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens.
Published 17 Jul 2020, Updated 30 Dec 2020
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