Let us begin by understanding what does a customer success manager do. A customer success manager is responsible for customer loyalty and customer retention. They do whatever is best needed for a company and ensure that all the customers are satisfied with it.
If you are wondering how they go about it, it can vary quite a bit depending upon the industry they are in, but their work is mostly dependant on customer building, ability to lead a team and strong communication skills.
The Customer Success Industry generally continue to heat up with other companies over a common concern of adding new positions on a regular basis.
As per the latest research reports obtained from LinkedIn and the State of the Customer Success Profession for 2019, it is now known that the CSM job is one of the fastest expanding and most demanding jobs of 2019.
If you are already a member of the business and are a part of the industry, you might be wondering how your current salary stacks up against the average pay checks.
Or just in case, you are new and are thinking about starting a career in the aforementioned business, you would have begun imagining, how massive would your CTC be, wouldn’t you? Luckily, I must break the news that this particular business sees an 84% affirmative growth in the job postings.
Here, we have pulled average customer success manager salaries from across the globe, subjected to a lot of variable factors and then bring you a tentative salary bar.
One more thing you need to note in mind is that, when looking at the salary numbers, remember that many factors contribute to the same. This will vary from geographies to the size of the company, years of experience and the growth rate of the industry.
Also note that cost of living is yet another important factor that cannot be given a backseat. Cost of living differs from states and countries. Simply put, a lower salary can go further in a city with a lesser cost of living.
The average CSM salary in the United States
For this, the software which I used to garner such colossal information was Glassdoor. It is a helpful tool that helps employees submit anonymous reviews and salary bits.
The average salary jumps somewhere around $80,000 to $85,000 per year. It looks pretty appealing and you have nothing to fear as the field continues to grow and thrive. There is no better time to boost your credentials or launch your career in the industry as a CSM.
While in Texas, the average hovers somewhere around $95,000 to $100,000 per year, the same in New York is around $85,000 to $90,000.
Whereas you can see that the tentative salary takes a notch down with $75,000 to $80,000. It is approximately the same standard in Chicago, Washington and Minneapolis as well.
However, it stoops lower in Atlanta with an average customer success manager salary of around $70,000 to $75,000. The same goes for Denver as well.
As far as the record states, Austin states the lowest average salary with a tentative package of $65,000 to $70,000.
Therefore, carefully choose your pick.
How to maximize your salary as a Customer Success Manager
First and foremost is negotiation. Be it any job that you wish to switch on to, believe me salary negotiation is something you need to be absolutely affirmative about. If your current CTC is let’s say, ‘X’, ask for a decent amount of raise, like 10-15%. You can always negotiate this before accepting.
Nonetheless, note that the raise you ask for should not be exorbitant. Asking something like 50-60% can look unreasonable and might stand on the way of you cracking the position. On the other side, 10-15% seems nominal and reasonable as well. This will positively affect your bottom line while coming across as fair and just.
Second would be bulletproof research. No matter what is the interview, you must do your part of research before you head in. Take help from websites like LinkedIn, Indeed, or Glassdoor and in no time you will get a fair enough idea on what to expect, how much to negotiate and how low or high is the given salary away from the ones in the existing standard.
Discussions and Certifications
Further, you may also be a part of the salary discussion and talk to people about what is the going rate for someone who is in your role and location.
But before you barge into all the discussion, interviews or salary negotiations. One thing I would personally recommend is getting certified. Yes, you heard that right!
Getting certified is crucially important in this business. Have an upper hand above the rest of your competitors with a certified course on How to become a successful CSM. Acquiring a Customer Success Manager Certification can also make your application stand out.
And during the interview, remember to showcase your worth. Sell your credentials as much as possible. Talk about your achievement, and how you have made a difference in your previous companies. Prove your talent, and accomplishments. Elucidate on the differences you can make in going forward in the company and most importantly, how the company can benefit from the same.
Nevertheless, remember to do this with a professional tone. Do not overdo or begin bragging about how you won the lemon race in 3rd grade. Keep it as professional, neat, and concise as possible.
A company depends a lot on the CSM. As it is the CSM who is the focal point of contact between a company and a customer. Throw a direct influence on the customer journey, which would rather churn out higher revenue for your business and better ROI.