How Are Verizon Salesmen Paid?
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Verizon hires sales representatives at the retail store level, for outside business account management and inside sales. Retail store sales representatives primarily sell and service wireless accounts. Business sales associates or account executives handle a portfolio of voice and data products, including virtual private networks. Inside sales representatives typically work out of call centers and suggest add-on products and services to an existing customer base. A portion of a Verizon sales representative's overall pay is directly linked to his performance.
Verizon typically offers its sales representatives a base salary or hourly wage. The company guarantees this amount regardless of individual performance. The base salary or hourly wage may be the same for all representatives at a certain level. For example, entry-level retail sales representatives in a particular geographic region may earn an hourly wage of $10 regardless of education or experience level. Inside sales representatives may earn an hourly wage of $12 while sales associate positions that require at least a bachelor's degree may offer a base salary of $30,000 per year.
Commissions are one of the primary reasons why a sales career has the potential to be lucrative. This is pay that varies with the amount of completed sales and links directly to an individual representative's performance. Verizon pays its sales representatives commissions on confirmed sales. Commissions are usually a percentage of the dollar amount of total sales for a particular period. For example, if a sales representative accumulates $10,000 worth of sales in a month and earns a 10 percent commission, his incentive pay is $1,000.
Verizon gives some of its employees a commuter spending account benefit. This type of account allows employees to keep track of vehicle mileage and expenses related to business conducted on the company's behalf. Some companies require that employees submit an expense report for reimbursement on a monthly or quarterly basis. Other companies give employees access to a credit card or a certain amount of funds. Most companies require that employees provide documentation in the form of sales receipts.
Full-time sales representatives of Verizon receive additional benefit pay, including tuition reimbursement, paid time off, adoption expense reimbursement and healthcare spending accounts. These benefits payments are in addition to a representative's base salary and commissions. The paid time off benefit covers holiday, vacation and sick pay. Healthcare spending accounts allow employees to set aside a certain amount of their pay tax free. Representatives use the pay to reimburse themselves for out-of-pocket health care costs, such as deductibles. Verizon also offers discounts at certain childcare service providers and various health clubs.
Helen Akers specializes in business and technology topics. She has professional experience in business-to-business sales, technical support, and management. Akers holds a Master of Business Administration with a marketing concentration from Devry University's Keller Graduate School of Management and a Master of Fine Arts in creative writing from Antioch University Los Angeles.