The new Comp Engine by Betts provides salary data for top go-to-market (GTM) jobs in tech in real-time, arming you with the latest rates and keying you into trends that will impact your hiring process. This tool leverages metrics taken directly from our own hiring platform, Betts Connect, which features one of the largest networks of sales, marketing, customer success and other GTM professionals with a background in the technology sector in the U.S.
Continue reading below to learn more about the new Comp Engine from Betts Recruiting, and see how it can help you gain more visibility into the latest compensation trends for different jobs in tech:
AI vs General Tech Recruiting
The Challenge of Keeping Up with Salary Data in Tech
Not even halfway through the 2020’s, these past few years have proven to be a time of turbulent change, and for the SaaS market in particular they launched from a period of previous upheaval. We saw tremendous growth coming off of 2019, with tech startups scrambling to compete over a limited talent pool as compensation increased steadily YoY for most sales and other go-to-market titles. The COVID-19 pandemic brought even more change, while at first it looked like digital technology vendors would be in an even better position to grow from remote work needs, the economic uncertainty of the following years slowed down the upward trajectory of many in the industry.
Consequently, salaries for many GTM jobs were heavily affected, which we covered in detail in the most recent version of the Betts Compensation Guide:
Betts Compensation Guide – 2024
Every year for past several years, we have released updated Comp data for many of the titles we specialize in sourcing, from Account Executives (AEs) and Sales Development Representatives (SDRs) to Demand Generation Managers (Demand Gen), Revenue Operations Managers (RevOps) and Sales Engineers (SEs). We also have the Betts Executive Compensation Guide covering salary trends across various C-suite and other leadership roles, including for VPs of Sales and Directors of Marketing.
You can see the salary rate changes – or lack thereof – between 2023 and 2024 for different jobs at the linked articles here:
- Account Executive – 2023 to 2024
- SDR – 2023 to 2024
- Customer Success Manager – 2023 to 2024
- Sales Ops Manager – 2023 to 2024
- Sales Engineer – 2023 to 2024
- Sales Manager – 2023 to 2024
- Content Marketing Manager – 2023 to 2024
- C-level – 2023 to 2024
- Vice Presidents – 2023 to 2024
- Directors – 2023 to 2024
The Key Problem with 2024 Tech Salary Rates
The biggest noticeable trend with compensation for sales, marketing and other GTM jobs is the lack of growth between 2023 and 2024, which is almost a reversal of the patterns we saw in the pre-pandemic years. Even for executive go-to-market and related titles, salaries have remained relatively stagnant, with a few outliers that saw minor bumps and a few more that saw cuts at the lower levels. However, there is a fundamental problem with looking at these average rates at a high-level – the rate hiring managers need to target will vary significantly based on a candidate’s background.
With the hard pivots and restructuring many tech companies have had to make in light of economic changes, so too have the makeups of their GTM teams, with most focusing on hiring a unicorn seller to help scale to revenue targets. This has created a divide where those who fit this mold will command a greater compensation range – to the tune of up to 20% above the average – while those who do not should expect offers of up to 10% below this line. These numbers are still constantly evolving, and we expect there to be future shifts as interest rates and inflation drop over time – the Comp Engine helps to solve for this challenge by showing you how rates are moving in real-time based on live data.
How the Betts Comp Engine by Betts Works
The Betts Comp Engine by Betts is directly linked into metrics from Betts Connect, extracting data and trends from real placements made by Betts’ expert recruiters with our partners and clients. Once you have signed up for access and have received your free Connect account, simply jump in and filter for these background factors:
- Job Title
- Years of Experience
- Vertical Industry
- Location
Based on your search, the Engine will return information on different salary rates and our recommendation for the ideal target rate for your desired Time to Hire (TTH) for top performers. Additionally, the Comp Engine pulls other data from Connect that will affect overall compensation and hiring trends, such as equity rates and the available talent pool for the given role.
Betts Connect – Platform Powering Your Comp Data
Betts Connect is the proprietary hiring platform developed by Betts Recruiting, which contains one of the largest networks of pre-vetted GTM talent in tech and comes equipped with state of the art features for candidate sourcing. These help hiring managers connect with candidates faster, engage each other more seamlessly, and streamline the interviewing and onboarding processes.
Key Betts Connect Features
Here are some of the top features you gain with Betts Connect:
- Candidate Filtering: Connect profiles allow for more detailed and relevant KPIs than those on other platforms such as LinkedIn or Indeed. Candidate profiles feature key performance metrics like Average Deal Size or Quota Attainment at a previous employer, and many of these indicators can be selected by hiring managers as filters to narrow down a list of potential candidates.
- AI-Powered Sourcing: Betts Connect comes with automated tools leveraging AI intelligence to quickly track down candidate profiles that may not show up on a first-pass search. The engine reviews the target requirements and scours the network for both active and passive job seekers that meet the criteria.
- Streamlined Engagement: Once hiring managers or recruiters have located a candidate’s profile that matches with what they are looking for, interviews can be pitched directly from Connect. Candidates can be directly messaged, emailed or texted to schedule the interview, which will be added to their calendar on the platform.
- Integration with ATS: Betts Connect features integrations such as Zoom for video interviews, or with popular applicant tracking systems (ATS) such as Greenhouse and Lever. This connection lets both systems exchange data without having to manually repopulate in either while sourcing and hiring candidates.
Comp Engine for Employers
Employers are able to use the Comp Engine by Betts to quickly accumulate salary ranges for a given role they are seeking to fill, and aggregate total compensation data for the available talent pool to help determine competitive rates for unicorn sellers or other GTM candidates. The Engine also provides recommendations from Betts for target comp rates and our predicted Time to Hire based on where the candidate ranks as a top performer and the average rate in the market, which can be adjusted based on the advice of your expert Betts recruiter if the candidate is entertaining other offers.
Coming Soon – Comp Engine for Job Seekers
Job seekers will be able to leverage the Comp Engine to view current rates for their desired role, as well as to see how the average earnings vary based on performance and how they are changing over time. With access to real-time salary data as well as for other benefits like equity percentages, candidates looking for a new position will be better able to determine the competitiveness of the pitched compensation and make a more informed decision for their career.
Get Full Access to Betts Connect and Hire at Scale
Employers that sign up for Betts Connect get access to all of the data provided by the Comp Engine by Betts and more, with all of the advanced features of the platform along with expert advice and consultation by your assigned Betts support staff. With plans such as our Recruitment as a Service (RaaS) program, you can track down top-performing, right fit candidates faster and hire as many people as you need at a fraction of the cost of a traditional agency contract.
Sign up for a Connect demo here and see for yourself how your leverage data from Betts Connect to inform your talent acquisition strategy.