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Pay Mix and Leverage
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Pay mix and leverage together provide the range of pay opportunities based on sales performance
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Pay mix: Pay mix splits TTCC into two components: base salary and target incentive amount We express pay mix as a percentage split with the first number representing the base salary and the second number representing the target incentive amount:
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Base Salary/Target Incentive These two amounts added together always equal 100 percent Examples: 90/10 75/25 Base Salary 90% of TTCC Target Incentive 10% of TTCC Base Salary 75% of TTCC Target Incentive 25% of TTCC
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For a TTCC of $100,000, the 90/10 pay mix provides a target base salary of $90,000 and a target incentive opportunity of $10,000 A pay mix of 75/25 for the same TTCC of $100,000 provides a target base salary of $75,000 and a target incentive opportunity of $25,000 Pay mix varies by job content Generally, as the relative influence of the sales representative increases, the lower the base salary component and the higher the target incentive amount For example, a new account territory sales job might have a pay mix of 60/40 whereas a major account sales job might have a pay mix of 80/20 The average pay mix for business-to-business territory sales representatives in the United States is approximately 70/30 However, there is a wide variance to this national norm Figure 2-6 shows different levels of pay mix with 100/0 having no pay at risk and 0/100 with 100 percent of the TTCC at risk
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Leverage: Leverage is a mathematical expression for the upside earning potential for a sales jobWe express leverage as a multiplier of the target incentive The most common leverage is known as a triple For notation purposes, it is normally written as 3x Do not confuse leverage as a pay cap The leverage amount provides an upside earnings estimate for the best performers For definition purposes, we define best performers as the 90th percentile of performance among all job incumbents In other words, the best performers receive three times the target incentive for outstanding sales performance, defined as the 90th percentile of sales personnel for that job
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Sales Compensation Fundamentals
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100/0 Target Total Compensation
70/30
50/50
0/100
Base Pay
Base Pay
Base Pay Pay Mix
Figure 2-6 Pay Mix Examples
The triple rule of leverage (3x) is a shorthand method to replicate what takes place in the labor market However, certain companies will intentionally pay more than a triple leverage, such as 35x or 4x, to provide more aggressive pay for their top performers Or they will pay less than a triple leverage 25x for their top performers presuming the labor market does not support a 3x for the best performers The company does not need to pay market pay levels As with any target pay level, management judgment is the ultimate source for setting
No Cap
Upside Incentive
Target Total Cash Compensation Leverage: 3x Target Incentive Base Salary
Pay Mix: 70/30
Pay Mix and Leverage
Figure 2-7 Pay Mix and Leverage
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Two
upside incentive opportunity However, labor market practices for 75th and 90th percentile of the labor market pay levels provide an excellent reference point for evaluating a proposed leverage Pay mix and leverage provide the range of pay opportunities available to sales personnel Figure 2-7 shows the complete relationship among the following components: target total cash compensation, base salary, target incentive, upside incentive, pay mix, and leverage Sample Pay Mix and Leverage Policy: Each job has its own pay mix depending on the degree of personal influence configured into the job design Territory sales jobs will have a pay mix of 70/30 and major account sales jobs will have a pay mix of 80/20 The leverage for individual contributor sales territory jobs will be 3x, overlay specialists 275x, and first-line sales supervisors 25x The leverage for new market sellers is 35x Your Pay Mix and Leverage Policy:
Performance Measures and Weights
The art of designing effective sales compensation formulas rests with the discipline of selecting and weighting the right performance measures The selection of the performance measures for inclusion in the sales compensation plan marks the point where strategy translates into tactics When sales management selects a performance measure for the sales compensation program, then sales leadership officially sanctions that measure Once the leadership team selects the performance measures, the next step is to establish the relative importance of each measure This is done by weighting the performance measures Below, we examine concepts related to selecting and weighting performance measures
Selecting performance measures: The uniqueness of any sales compensation rests with its performance measures There are dozens
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