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Variable Compensation for Customer Success Managers
Variable compensation is defined as a portion of compensation that is determined by employee performance. Variable compensation is in addition to your base salary, which is the standard pay that you receive regardless of performance. While variable compensation may not be across all success roles, it is becoming more and more common so that your manager can drive the behavior which best supports the company goals. You might also hear variable comp called commission or a bonus.
These two kinds of plans have different structures, but both are considered variable compensation.
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Understand How Your Pay Is Calculated
In order for you to be as strategic as possible, it is important you have full comprehension of your variable. Don’t hesitate to ask lots of questions and revisit your goals frequently during the month or quarter. If something isn’t crystal clear, be sure to communicate that to your manager. It doesn’t help anyone when you underperform because you don’t understand the goals ahead of you.
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Pace Yourself
It’s important that your variable should be set to achievable goals. Hitting 100% should not be out of the question yet still challenging. Be sure to work directly with your manager to strategize on exactly how you will hit the goal. In order to not be overwhelmed by your goals, it can help to break them down into small chunks. Think days, weeks, or months at a time. Over time you will gain a better understanding of seasonality and what you are capable of under pressure.
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A Compensation Calc
Your end results and payout should not be a mystery to you. If your manager doesn’t provide one for you, build out a compensation calculator in excel or sheets where you can input your performance and calculate the outcome of all your hard work. Tying your variable compensation achievements to tangible financial goals, like paying off a debt or saving for a vacation can also be very motivating.
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