My 5 Insights into the Customer Success Salary Survey!30 Mar, 20215 mins
I'm Courtney Gresty, and I'm approaching the end of my 3rd month here at Sphere, recrui...
I'm Courtney Gresty, and I'm approaching the end of my 3rd month here at Sphere, recruiting into the world of Customer Success - the time is flying by! Being relatively new into this market, I’ve taken a quick look into Sphere’s recent Salary & Benefits Survey results and these are the 5 key things I’ve found about my market...
1. Culture is becoming ever more important
In a time when remote working is the new normal and teams may not have met face-to-face for 12 months, culture is increasingly important to those working in the Customer Success space. With 79% of respondents citing culture as being the most important factor in their job search, up from 74% last year.
A poor working culture is also seen as the 2nd most likely reason for so
meone in Customer Success to leave their role, with 27% of respondents stating this.
This suggests that in a post-covid world when office and remote working combine, culture and working environments are going to be more key than ever.
2. Covid-19 was a challenge, but it wasn’t the only challenge in 2020
Yes, Covid-19 was a huge challenge for every business around the world with normal life being turned upside down overnight (50% of respondents in CS saying it was the biggest challenge they faced).
However, it wasn’t the only challenge that the turn of the decade brought to businesses in the UK and Europe...
Brexit, albeit in the shadow of Covid, also introduced multiple challenges. The unknowns of the many effects it would have made many nervous of how the economy and their own businesses would cope in both the short and long-term.
3. People receiving bonuses are on the decline, but targeted bonuses are on the up
In a year when businesses were focusing on getting past the pandemic, staying afloat for
the future and making the most of the fantastic furlough offering in doing this, we have found the number of people receiving bonuses in the Customer Success space are on a slight decline from 77% in 2019, to 71% in 2020.
This may have been expected after a year where growth was limited and business stagnant, but the clear change in 2020 is how bonuses are being paid. Of those 71% paid bonuses in CS, 55% were target-based bonuses, this is compared to 33% in 2019.
In a time where retaining business is precious and growing it a bonus, it seems to be that companies are turning to performance/target-based bonuses, seen by many as a safer bet during the current situation.
4. Customer Success is a well-paid specialism
Nothing beats being on the winning team and people in the Customer Success space are seen to be the most satisfied with their salary in the digital sector. 38% reported that they are satisfied, with a further 12% reporting they were very satisfied. While on the other end of the spectrum, a very small 4% stated they were very dissatisfied with their salary.
5. Customer Success favours the support of Recruiters
Finding a job can be daunting, whether it’s searching the job boards, spending hour after hour on LinkedIn or fielding call after call from recruiters and head-hunters.
The survey found that 39% of people in CS found their previous role through a recruiter and well, being a recruiter in the Customer Success space, I can’t say I’m surprised! Customer Success is a specialism that is still quite new to a lot of companies and the expertise of recruiters working solely in that field can prove invaluable in finding the best talent and creating you Customer Success teams to achieve their goals right from the beginning.
Convenient as it is, that final point leads me to highlighting that if you are in the Digital/SaaS space within Customer Success and are thinking of new opportunities or a new role, then get in touch and become one of the many who use specialists like myself to find a fantastic new role that is right for you!
I hope that you have found this quick dive into Customer Success space informative. 2020 has opened our eyes to how quickly business can evolve and we would expect this continue into 2021 and beyond!
If you would like to hear any more about what exciting new roles we have in Customer Success or just to discuss your thoughts on our salary survey, then please do reach out!