Small Business Owners – Ever wonder if you are paying your employees too much?
Employees – Ever wonder if you aren’t getting paid enough?
We have some interesting data that we pulled together based on financial projections from our over 6,500 users who have created financial projections using ProjectionHub.
We have users add salaried positions by department. Today I want to share the average salary for 3 departments. Keep in mind that 2/3rds of our users are startups and the remaining 1/3rd are primarily small businesses.
Here is what we found, our users project to pay their employees the following:
- Research and Development – $53,131
- General and Admin – $49,632
- Sales and Marketing – $38,389
The order did not surprise me at all. R&D tends to include programmers, developers, and technical employees. This is not a surprise that this department leads the pack in terms of average salary.
Sales and Marketing is likely at the bottom because many companies pay a small base salary for sales people and then pay them on a commission basis. This probably explains the lower salary range for sales and marketing.
What do you think? Are these salaries in line with what you pay or receive? Let us know by connecting with us on Twitter.