2009/2010 Salary Survey Commentary

Account Manager earnings drop for the first time since 2001

Basic salaries continue to rise

After nearly a decade of rising Account Manager earnings, the market has seen a drop of
almost £10,000 in 2009 from £82,758 to £71,952 .

However basic salaries have continued to rise. Since 2007 they have risen from £34,172 to £36,058

After nearly a decade of monitoring salaries in the Sector and issuing our annual survey, we have been able to track salaries and monitor trends which help our clients with future hires.  After 8 years of growth in total earnings we are suddenly seeing a reversal of this trend.
Reasons for this significant change may well include

• Over ambitious sales targets set & missed in 2009
• Rebalancing of salaries between basic and bonus in line with the FSA’s TCF guidelines
• A change in emphasis from selling products to selling concepts as RDR changes the product landscape.

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