In 2016, we conducted a salary survey with our audience to gather data about their salaries, benefits (financial and nonfinancial) and views on growth potential at their current companies. A number of variables were examined to provide a comprehensive look into the average retail salary. Those variables included gender, age, experience, title, department, geographic region, retail vertical, organizational department and company size (by revenue).
This salary report provides the information needed to answer the question, “What should my salary be?” It also sheds light on the factors impacting salaries in the retail industry, such as whether or not age creates an earnings gap, how an individual’s title can influence their salary, and if the retail industry is contributing to the wage gap between men and women.
A few of the salary report’s key findings include:
- 39% of both male and female respondents earn more than $100,001 per year.
- 53% of respondents with 20-plus years experience in the retail industry earn at least $100,001 annually, the highest percentage compared to the other age groups.
- 11% of respondents with a bachelor degree make $250,001 or more per year.
This salary data can be of help to both retail employees as well as employers as they look to negotiate fair and competitive compensation packages. That’s no small task in today’s competitive retail industry, where companies are not only fighting over consumers’ wallets, but also to attract and retain the talent critical to running a profitable business.
For more of these valuable retail salary insights, download Total Retail’s Salary Report below. This comprehensive report can be utilized as a salary guide help benchmark your current compensation package (salary and benefits) against peers that fit your profile. Use this resource to be prepared for your next salary review — and maximize your earning potential.