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Life and Death of a Salesman


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16 hours ago, TurkeyChew said:

Looks like the median is a $350 (175/175) these days from an informal straw poll of a) talking to peers/friends who are interviewing b) asking linkedin recruiters when they send stuff and c) my own personal experience as I dipped toes in the water.

 

I took a call w/ a internal recruiter at a Series C shop last night and I think they are around 175K/180K on a 50/50 plan, Options. I'll talk to the Sales VP net week and get more details

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So if you are sales or sales adjacent, my company is hiring like mad.  I created a rule after getting burned by Dell, never stay at a company more than 5 years, but here I am coming up on year 6 and not ready to go yet because they promote from within.  We've never stopped growing, expect to grow revenue over 50% again this year, and we have sales leaders that work to keep quotas pretty flat by growing the eligible account list and salesforce rather than doubling quotas to attain that growth.  HMU if you are a BDR, CDM, AE, SE or CSM and want to dip your toe into the competing offer market and can point to past software/SAAS experience.

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On 1/26/2022 at 11:33 PM, closetohumping said:

Buddy just left the company.  In his offer, he had a "recoverable draw."  From y'alls experience, what are the chances the company comes after it?  My speculation is they will take one run at it and then basically give up when he's willing to drag it to court.  I could also be wrong

an RD is not uncommon, usually if you are a new hire you want un-recoverable or a combo. I'm expecting a draw Q1 this year as we never get our Schedule A's till March or April so they pay us on a draw and then it gets trued up. Its 50/50 they come after him for the draw if he flames out and gets terminated. All about how that comes about and what the fine print is. 

 

Quote

My current gig started with a recoverable draw with a 1 year payback clause.  Gotta admit it was in the back of my mind that first year but after that I forgot all about it.

more common on the SI/VAR/Reseller side than a product company

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4 minutes ago, next2naus said:

an RD is not uncommon, usually if you are a new hire you want un-recoverable or a combo. I'm expecting a draw Q1 this year as we never get our Schedule A's till March or April so they pay us on a draw and then it gets trued up. Its 50/50 they come after him for the draw if he flames out and gets terminated. All about how that comes about and what the fine print is. 

 

more common on the SI/VAR/Reseller side than a product company

Going forward, I'm not gonna sign with anyone who has a RD.

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2 hours ago, TurkeyChew said:

I would never work for a RD. Unrecoverable while ramping-- 75% of OTE at minimum-- for 6 months, is my standard. 

RD's are only for when internal systems are busted or transitions/processes are being worked through, etc. with the expectation of a true-up within 90 days.

thats every Q1 here

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  • 2 months later...

That or buying from AT&T, for sure.  Sure would love to PM with any current or former IBM sales types.

Ok, writing is on the wall, I just had a 148% month but I've given it a good 22 months and I just don't see the long term upside of my current gig, not to mention the fact that my VP of Sales is about to give all our boundary partners and sales people coronaries.  I'm officially in the market, will be happy to be a referral for SaaS, Cloud, or other technical sales enterprise sales gig, and will be happy to engage on specifics via PM, plus you might get a bonus.

I'm open to things other than technology sales, really any situation that is positive, growing, and where I can get a whole lot of at-bats and make a healthy OTE.

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3 hours ago, BearSchlong said:

That or buying from AT&T, for sure.  Sure would love to PM with any current or former IBM sales types.

Ok, writing is on the wall, I just had a 148% month but I've given it a good 22 months and I just don't see the long term upside of my current gig, not to mention the fact that my VP of Sales is about to give all our boundary partners and sales people coronaries.  I'm officially in the market, will be happy to be a referral for SaaS, Cloud, or other technical sales enterprise sales gig, and will be happy to engage on specifics via PM, plus you might get a bonus.

I'm open to things other than technology sales, really any situation that is positive, growing, and where I can get a whole lot of at-bats and make a healthy OTE.

Good luck. 

Anyone that is looking for a new AE role in a SaaS Tech start up please reach out. Looking to fill that position immediately.

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15 hours ago, closetohumping said:

Dell was too. 

Wouldn't know about that except that Dell/EMC/VMware all have a) below average reputations in the high tech sales world as candidates/sales people and b) they have flooded the market trying to leave those companies the past 12-18 months. I'm not sure why that is, maybe you know? Leadership? Comp? I know hardware and hypervisor crap is all commodity now, maybe that's it?

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  • 2 weeks later...

Accepted a verbal this afternoon from my new boss, with written letter/package to follow by Friday. And tomorrow night I have to have dinner with the old boss and a presentation to a client I've been working for a year. Intending to accept and give notice on Friday. How to do so without burning bridges is gonna be delicate.

I'm almost out of the wilderness.

I think I'm going to play golf for a week.

I see myself retiring from the new place.

I was working with 2 sales leaders at the new place, with multiple headcount, and get the feeling they had to move quick or lose me to the other. I cant wait to find out the inside baseball on that one. Best of all, I've got a rabbi at the new place to help me navigate the entry, make key introductions.

Fortune favored me today.



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On 5/9/2022 at 11:18 PM, BearSchlong said:

Accepted a verbal this afternoon from my new boss, with written letter/package to follow by Friday. And tomorrow night I have to have dinner with the old boss and a presentation to a client I've been working for a year. Intending to accept and give notice on Friday. How to do so without burning bridges is gonna be delicate.

I'm almost out of the wilderness.

I think I'm going to play golf for a week.

I see myself retiring from the new place.

I was working with 2 sales leaders at the new place, with multiple headcount, and get the feeling they had to move quick or lose me to the other. I cant wait to find out the inside baseball on that one. Best of all, I've got a rabbi at the new place to help me navigate the entry, make key introductions.

Fortune favored me today.


 

Congrats. Did you go with IBM?

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We start a major price increase tomorrow.

Bean counters:  If we just keep units 100% to last year, we will be printing money."

I guess all of that book learnin is elusive as hell.

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2 hours ago, closetohumping said:

Everyone good?  Hearing there have been quite a few layoffs and that’s just the beginning

if by good, you mean still slaving away. yes.  

but getting double fucked left and right.   leadtimes on everything are now 2-6 months, and in an "amazing cooincidence", we only get paid if the product ships before the end of the quarter. 

and in an even more amazing coincidence if we happen to book 176% of quota last quarter, but only shipped 98%... we get put on a fucking PIP.   Meaning 78% rolled over....

and even better, this quarters quota increased 85%.  So not only do I get a PIP, I dont get any accellerators and the fucking assholes increased my quota by more than the amount that fucking rolled over.     so now my overall quota increased 85%, I booked another 150% against my NEW quota... and still almost none of last quarters shit is out the door.  Nor anything from this quarter..... 

cant wait to be told that I am fired when I booked 95% of my WHOLE FUCKING YEARS NUMBER in fucking MAY.      But since nothing is shipping, its entirely my fault for selling the shit that doesnt ship.......   

Narrator:  wouldnt matter what I sell....NOTHING IS FUCKING SHIPPING. 

Edited by AUS-97HORN
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59 minutes ago, AUS-97HORN said:

if by good, you mean still slaving away. yes.  

but getting double fucked left and right.   leadtimes on everything are now 2-6 months, and in an "amazing cooincidence", we only get paid if the product ships before the end of the quarter. 

and in an even more amazing coincidence if we happen to book 176% of quota last quarter, but only shipped 98%... we get put on a fucking PIP.   Meaning 78% rolled over....

and even better, this quarters quota increased 85%.  So not only do I get a PIP, I dont get any accellerators and the fucking assholes increased my quota by more than the amount that fucking rolled over.     so now my overall quota increased 85%, I booked another 150% against my NEW quota... and still almost none of last quarters shit is out the door.  Nor anything from this quarter..... 

cant wait to be told that I am fired when I booked 95% of my WHOLE FUCKING YEARS NUMBER in fucking MAY.      But since nothing is shipping, its entirely my fault for selling the shit that doesnt ship.......   

Narrator:  wouldnt matter what I sell....NOTHING IS FUCKING SHIPPING. 

You need a new job

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Congrats. Did you go with IBM?
Maybe, maybe not.

Gave notice today. SOP is to cut my access immediately and terminate everything.

My sales VP asked HR to hold off because he needs me to do some warm handoffs to ensure deal continuity. We've been friends for 22 years so I'm happy to do it. I'm planning to attend some of those calls from my boat.

But my existing pipeline has me reaching yearly quota by July, I did the math, and even with accelerators my new gig is still 2X the OTE.

Next 10 yrs is gonna be interesting.
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I got a question for my fellow field monkeys.  Obviously remote and verticalization are two trends but do you think there's a chance we go back to the Geo patch, ie, live in NY and LA to manage those respective territories?  I ask because I've thought about moving to Vegas but if we go back to geo, I'm pretty much unemployable.

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29 minutes ago, closetohumping said:

I got a question for my fellow field monkeys.  Obviously remote and verticalization are two trends but do you think there's a chance we go back to the Geo patch, ie, live in NY and LA to manage those respective territories?  I ask because I've thought about moving to Vegas but if we go back to geo, I'm pretty much unemployable.

I would not hire a person for a Geo if they did not live in it, or had recently been living in it and have strong connections/history. Call me old, but Social Selling is not apples to apples to being in the patch, knowing the local customers and partners and having history. 

I have a bucket of named accounts in my Region ( some local, some in NYC, some in NJ) and cover some Geo based pickups because I get shit done, I'm hungry and my Mgmt trusts me to close new business for them vs the other reps. 

We promoted an ISR to a Territory Rep role (think Geo based) and they have been covering it from Cali but the idea was for them to move here and now they don't want to. I think they would be more successful long term if they were here. 

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I’m an independent rep with about 50 lines in the bag, focused mostly on a single retail customer. I am amazed how many have not yet resumed any level of travel even though I tell them how successful other lines are who are meeting face to face. The buyers are so thrilled to get out of the house they just write orders. Teams meetings don’t cut it long term.

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11 minutes ago, Texzilla58 said:

I’m an independent rep with about 50 lines in the bag, focused mostly on a single retail customer. I am amazed how many have not yet resumed any level of travel even though I tell them how successful other lines are who are meeting face to face. The buyers are so thrilled to get out of the house they just write orders. Teams meetings don’t cut it long term.

 

22 minutes ago, next2naus said:

I would not hire a person for a Geo if they did not live in it, or had recently been living in it and have strong connections/history. Call me old, but Social Selling is not apples to apples to being in the patch, knowing the local customers and partners and having history. 

I have a bucket of named accounts in my Region ( some local, some in NYC, some in NJ) and cover some Geo based pickups because I get shit done, I'm hungry and my Mgmt trusts me to close new business for them vs the other reps. 

We promoted an ISR to a Territory Rep role (think Geo based) and they have been covering it from Cali but the idea was for them to move here and now they don't want to. I think they would be more successful long term if they were here. 

I'm a big proponent of in person meetings too and think it may go back to that route at some point.  I'd be hosed if I move to Vegas, so just something to think about.

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14 minutes ago, BearSchlong said:

I'm remote but travel a few days a week. If I haven't broken bread with you, I'm not putting you in my forecast.
 

The steak dinner is still the best deal lubricant. Our sales teams are just about in open revolt right now over our company dragging their feet on return to travel. We can travel, but still need VP approval for airline travel, and get too many questions about who actually needs to go to the meeting in person. I told an EVP last week our pipeline is soft because every single one of our competitors is in person at our customer's sites and we are still Zoom fucking everyone. 

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3 minutes ago, Pescado_Rojo said:

The steak dinner is still the best deal lubricant. Our sales teams are just about in open revolt right now over our company dragging their feet on return to travel. We can travel, but still need VP approval for airline travel, and get too many questions about who actually needs to go to the meeting in person. I told an EVP last week our pipeline is soft because every single one of our competitors is in person at our customer's sites and we are still Zoom fucking everyone. 

Yep, but getting a lot of customer pushbacks where "it's against our policy these days" or "have to rearrange sock drawer."  I'm not great over Zoom, I'm great in person.  #Fax.  

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1 minute ago, closetohumping said:

Yep, but getting a lot of customer pushbacks where "it's against our policy these days" or "have to rearrange sock drawer."  I'm not great over Zoom, I'm great in person.  #Fax.  

I've heard "can't meet in person during business hours". Doesn't mean they won't meet you for dinner after hours...allegedly. 

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1 minute ago, Pescado_Rojo said:

I've heard "can't meet in person during business hours". Doesn't mean they won't meet you for dinner after hours...allegedly. 

Yep.

 

Anyways, do you think the industry will flip back to geo-territory mode?  RIght now, it's verticalized so I have customers everywhere.  Besides, in enterprise, customers are everywhere.

I'm thinking hard of leaving SoCal and Vegas is under consideration.  However, I don't want to be hosed if the industry flips again.

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