A sales professional’s job typically focuses on dealing with or convincing a client to purchase a product or service. To do so, they explore various territories to identify leads, provide potential clients information on the value of a product or service, answer critical questions, and explain the multiple advantages of a product, to turn a lead into a customer.
Sales representatives require exceptional analytical thinking abilities and persuasive skills to excel at their jobs. Some of the highest-paying sales jobs require leadership traits as an essential skill because it determines their ability to lead sales representative teams towards achieving organisational goals. There are various sales positions, but the ultimate aim of the job is to secure sales that will ensure a company’s profit and progress.
One of the main reasons why sales jobs are highly sought after is because they offer an unmatched earning potential. Since the salaries of sales representatives primarily depend on commissions they make from sales, and most companies have no cap on end salaries, sales professionals are among the highest-paid employees in India. From real estate to automobiles, sales representatives work in a fast-paced, highly competitive environment to attract lucrative incomes.
This article will discuss the top 10 highest paying sales jobs and take a look at their primary duties.
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What are Sales Jobs?
Sales jobs mainly depend on what services or products you are selling and the audience you are targeting. You could be selling anything from a software solution to solving the problems of a company. To put it simply, the plan behind making a sale is to identify your clients’ needs and convince them that the product or service you are selling is the solution they require.
Their main responsibilities are to set sales goals and objectives and determine the most ingenious ways to achieve them. Sales professionals tend to analyse the company’s reports and surveys and prepare budgets to determine the sales price and terms. They meet other departments’ heads to assign sales territories and highlight goods and services to focus on.
Typically, sales representatives spend many years in the role before they are promoted to management positions. Ideally, sales managers are the conductors of the company’s income engine. One of the significant roles of a sales executive or manager is to manage his subordinates. These professionals interview candidates and eventually hire them based on their skills.
When it comes to generating revenue and meeting customer needs, sales executives create and nurture high-performance sales teams. Therefore, besides evaluating workers regularly, they also encourage them by providing excellent incentives and promotions.
Top 10 Highest Paying Sales Jobs in India
1. Realtor/Real Estate Agent
A realtor works in the real estate industry, representing buyers, sellers, or both. Additionally, they handle everything from marketing to closing the paperwork. Even though there is no need for any specific degree, one needs to pass a licensing exam in the state to become a real estate agent.
The average base salary of a realtor is Rs 307,226 per year. The realtor’s main source of income is the commission earned from both parties, so their annual salaries are relatively high. A real estate agent with a minimum of 5 years of experience can earn a base salary of ₹950,000 per year.
2. Medical Device Sales Representative
These representatives tend to sell medical equipment to doctors, surgeons, and other medical professionals. From headings presentations to visiting hospitals or doctors’ offices to achieve their sales goals, medical device sales representatives have many responsibilities, all of which require excellent communication and interpersonal skills. These representatives don’t need to come from a medical background. However, they must hold a bachelor’s degree besides having an in-depth understanding of the medical implications of the devices they sell.
The average salary for a medical device sales representative starts from Rs 257,821 per year. Like other sales jobs, medical device sales representatives also derive a large chunk of their salaries from commissions.
3. Sales Engineer
A sales engineer holds a unique role in hybrid sales, engineering, science, and technology – they assume multiple roles on the job. But to bag this role, one must have a minimum of a bachelor’s degree in engineering. It is crucial to have in-depth knowledge of various mechanical, science, and engineering concepts.
The average salary of a sales engineer starts from Rs 311,529 per year. A sales engineer’s annual income is the resultant sum of the base salary, commission, and bonuses.
4. Insurance Sales Agent
However, their annual salary is based mainly on commissions they receive from insurance sales. An insurance sales agent provides customers with information on different kinds of insurance and helps them select a policy best suited to their requirements. It is an entry-level position and doesn’t require any educational qualification to succeed. As an insurance sales agent, you work in different sectors selling life, automobile, renters, or household insurances.
The average base salary of an insurance sales agent is Rs 274551 per year. If insurance sales interests you, you can pursue an 8-month PG Certification in Life Insurance to land a guaranteed job with a starting salary of Rs 2.2 – Rs 2.4 lakh per annum.
5. Pharmaceutical Sales Representative
These representatives tend to visit doctors, hospitals, and other medical institutions in a given geographical location to drive higher prescriptions for the drugs they are representing. If you want to break into the pharmaceutical sales jobs industry, you must get a degree from a top-tier school with a high GPA.
The salary of a pharmaceutical sales representative starts from ₹519,866 per year.
6. Enterprise Sales/Account Executive
Enterprise sales executives work in B2B sales and are responsible for selling products/services and managing an organisation’s most important customers. An MBA degree can help you get your foot in the door, but it requires experience to attain a sales position at the enterprise level. An enterprise sales executive’s job responsibilities are much bigger than sales representatives at lower levels because they are in charge of the clients who typically make the largest purchases. Due to this, the earning potential of account executives is also higher.
The average salary for an account executive is Rs 1,987k per year.
7. Software Sales Representative
These professionals are responsible for selling a companies’ software to different businesses and entrepreneurs. No specific degree is required here, but one must be tech-savvy enough to understand and explain the technology they are pushing.
The salary of a software sales representative starts from Rs 784,153 per year.
8. Principal Gifts Officer
They work to drive charitable giving for nonprofits and focus mainly on individuals instead of institutions’ grants. To work as a principal gifts officer, one needs to hold experience in fundraising for a nonprofit organisation. Their jobs also include planning, directing, and coordinating awareness programs to uphold their clients’ favourable image in public. They also indulge in raising funds and soliciting special projects that increase the awareness of an organisation.
The average salary for a principal gift officer is Rs 11,43,085 per year.
9. Consumer Packaged Goods/Wholesale Director
A CPG sales director’s job is not restricted to selling packaged goods; they are also deeply involved in a company’s core business operations. They emulate a brand manager in many ways for a company dealing with toys, grocery, beverages, and other packaged goods. They maintain a network of buyers in the consumer market by developing profitable relationships and continuously attracting more contacts.
The average salary of a Consumer Goods/Wholesale professional is Rs 935,921 per year.
10. Account Manager
Their job responsibilities are a combination of sales and customer support. They have a specific clientele who they provide their services regarding the products and services they sell. They must develop profitable relationships with customers and keep business persons and stakeholders to drive sales for an organisation. On the customer support end, they are answerable to customers when it comes to queries. Through this, they also identify potential opportunities that can help an organisation prosper.
An account manager earns an average compensation of ₹585986 per year. They earn lucrative salaries even at the entry-level, and with experience, can command much higher salaries.
How to Land the Highest Paying Sales Jobs?
A career in sales can promise a plethora of opportunities and financial potential. Still, it is not everyone’s cup of tea to nail the position, as the field requires a specific skill set to be successful. You may not necessarily need an outgoing and extroverted personality. Solid interpersonal skills are crucial to succeeding at sales. You need to be able to connect with customers and be fantastic listeners to understand their requirements and provide apt solutions.
There is plenty of rejection in sales. However, every no should be seen as a learning opportunity that can get you closer to a yes.
Here are the top skills every that determine the success of a sales executive:
- Product knowledge: Successful sales executives need to have as much product knowledge as possible. They must be able to effectively communicate the value the product offers to a business and explain the mechanism that drives it. This skill can be mastered after studying a company’s products extensively through product marketing collateral, training courses, and consulting other marketing experts. Thorough knowledge will help you develop an effective sales pitch.
- Strategic prospecting skills: Strategic prospecting starts with searching for referrals from existing connections to new prospects that align with the ideal customer profile. Sales representatives can also request referrals from current customers or look for investor portfolios for new opportunities or leads. It also means conducting thorough research on the market and competitors to identify what sales strategies are likely to be effective.
- Communication skills and persuasive powers: Communication plays a crucial role for sales executives because a large part of their job revolves around engaging with an organisation’s most important clients and pitching products to them. Being able to communicate a product’s details in a manner that clients understand will determine the effectiveness of your communication skills. Further, convincing them to buy the products you are offering is an indication of persuasive powers.
- Rapport-building skills: As sales representatives, you must work on building a rapport with your clients. This can help develop a professional network of clients and contacts who can direct you to other prospective customers and advance your career ahead.
- Time management: Sales representatives are required to work on several tasks during the course of a day. From identifying leads to strategic planning, pursuing leads, and cold calling, they should manage their time efficiently to deliver the best results. This also includes good organisational skills if you handle a large number of accounts. In this manner, you can effectively attend to all your clients and customers and provide solutions while keeping stress at bay.
- Confidence: Making a successful pitch is hinged on confidence, be it a cosmetic product or a complex motherboard. Adequate knowledge of the products you represent and an effective strategy can help you become confident and allow you to deliver to the nest of your capacity.
- Leadership skills: Leadership skills tend to go hand in hand with interpersonal skills, and when you know how to motivate your fellow members, you can achieve your goals efficiently. Developing leadership skills also allows you to target higher profiles and managerial roles.
If you are looking to build a career in sales, you can start with a PG Certification Course in Sales from upGrad that is designed for young aspirants with a bachelor’s degree in any field. The 6-month program is focused on imparting strong interpersonal & communication skills, structured thinking and problem-solving skills, and lead generation abilities.
If you are just starting out a career in sales, there is a lot you will need to learn to bolster your management skills along the way. Luckily, there are online programs that have made this easier than ever. upGrad’s PG Program in Management, Specialisation in Sales and Digital Marketing is not just confined to imparting in-demand sales skills and hands-on training. It also prepares aspiring young professionals for career advancement opportunities.