Editor's Note: Total Retail Releases First Annual 'Salary Benchmark Report'
I have some exciting news to share with you! Total Retail is announcing the release of its first annual "Salary Benchmark Report," which is comprised of data analyzing key statistics on retail executives’ salaries, benefits and views on career growth potential.
Over the years, Total Retail's audience has asked us for comprehensive salary information to use in their personal salary negotiations or as they look to negotiate fair and competitive compensation packages for their employees.
After researching the marketplace — and not finding a comprehensive report that provides data retailers need to ensure they're maximizing their earning potential and paying market rate to retain top talent — Total Retail decided to take matters into its own hands and create such a report.
We surveyed our audience via an online survey conducted over a two-week period in June, collecting close to 700 responses. Several variables were examined to provide a comprehensive look into retail executives’ salaries, including gender, age, experience, title, department, geographic region, retail vertical, organizational department and company size.
What resulted is a 30-plus page, comprehensive report, featuring findings such as the following:
- 39 percent of both male and female respondents earn more than $100,001 per year;
- 53 percent of respondents with 20-plus years experience in the retail industry earn at least $100,0001 annually, the highest percentage compared to other age groups;
- 11 percent of respondents with a bachelor's degree make $250,001 or more per year; and
- 48 percent of respondents aged 45 to 54 earn more than $100,001 annually.
All of Total Retail's research initiatives are led by former Forrester Research analyst Nathan Safran, now director of research at NAPCO Media, parent company of Total Retail.
“I’m thrilled to have participated in the Total Retail salary research," Safran says. "The industry salary data will prove to be invaluable to retailers, HR managers and executives in the industry.”
With the expert guidance of Safran, Total Retail will produce four comprehensive retail research projects in 2017, including a second annual "Salary Benchmark Report."
The "Salary Benchmark Report" is available to download for free. Take advantage of this resource to maximize your earning potential.