Career Advancement for Sales Analysts
A sales analyst examines a company's production and distribution alongside market trends and sales data to help develop strategies for future sales. Sales analysts have strong communication, analytical, marketing, and computer skills. They bring to the job a bachelor's degree in business or a related field, as well as sales or marketing experience. This combination of education and experience can lead to several career advancement options. Four are examined in this article, including the responsibilities and requirements for each.
|Job Title||Median Annual Salary||Job Growth (2018-28)***||Qualifications|
|Sales Analysis Manager||$107,636 (2019)*||5% (sales managers)||Bachelor's degree (possible); sales analyst experience|
|Director of Analytics||$126,673 (2019)**||20% (market research analysts)||Bachelor's or master's degree in mathematics or related field; management experience|
|Marketing Manager||$134,290 (2018)***||8%||Bachelor's degree; sales or marketing experience|
|Vice President of Sales||$139,886 (2019)**||6% (top executives)||Master's degree in marketing, sales, or business administration (MBA); extensive management experience|
Sources: *Salary.com, **PayScale.com, ***U.S. Bureau of Labor Statistics (BLS)
Sales Analysis Manager
A sales analyst who demonstrates strong leadership and delegation skills can transition into the role of sales analysis manager. Sales managers are responsible for the overall success of their specific sales departments. Responsibilities can include budgeting, customer satisfaction oversight, employee recruitment, and team member training. Sales analysis managers are instrumental to the development of successful sales strategies. They often work alongside company management, distributors, and dealers to help ensure marketing and production success. Common qualifications include a bachelor's degree, previous sales analyst experience, and proven leadership experience.
Director of Analytics
A sales analyst may also advance into the role of director of analytics. Directors of analytics supervise an analytics team; delegating work, recruiting qualified analytics team members, and overseeing staff training are common requirements for this job. A director of analytics may also work on market research, analyze data to discover sales opportunities or risks, and create a company's marketing forecast. Common qualifications include a bachelor's or master's degree in mathematics or a similar field, management experience, and high-level analytics skills. Advancement opportunities are best for applicants with education or experience in both data analysis and statistics.
A sales analyst with experience in developing sales and marketing strategies as well as proven leadership skills may advance into the role of marketing manager. A marketing manager oversees a corporation's marketing department as it designs strategies to best promote products or services. Marketing managers are often involved in the product or service from initial conception, and work actively with departments such as product development, customer relations, and sales. A bachelor's degree in marketing or similar and previous marketing or sales experience are common qualifications. Strong applicants also have experience with digital advertising.
Vice President of Sales
In the move up the career advancement ladder, a sales analyst may find the role of vice president (VP) of sales the natural next step. A VP of sales supervises the work of sales managers and directors throughout a corporation. This is a high-level management position and can be responsible for a team at a regional or a national level. Overall, the VP of sales is responsible for the corporate sales strategy. He/she also manages the analysis of financial and sales reports, consults with other management and staff, handles contract negotiations, and provides budget oversight. A master's degree in marketing, sales, or business administration (MBA) is a standard requirement for this position. Extensive, successful managerial experience is also vital.