And the offer is…

Employees generally leave companies for a better opportunity.  They may want to work with a more collaborative team, develop their skills, help grow another company, increase responsibility, change geography and/or increase their salary.

Our recruiters are experts in the electrical industry and know the job market for the verticals we serve. What a Product Manager earns in lighting may differ from power distribution. We understand the criteria for a candidate to leave their job to join another company.  Salary may not be the primary factor, but it can be extremely disappointing if an offer is made below expectations.  Make sure you know your budget and are transparent from the beginning. We certainly have the knowledge to assist you when it comes time to make an offer to the perfect candidate!

Our firm has been tracking salaries since 2010.  Below is salary information from 2010–2015, 2016–2019 and 2020.  Keep in mind the following may have an impact on the ranges:  geography, years of experience, territory’s revenue, size of company, etc.

 

Power Distribution – Outside Sales

2010 – 2015 2016 – 2019 2020
Average $111,012 $127,897 $132,000
Median $105,000 $125,000 $125,000

 

Wire & Cable – Regional Sales Managers

2010 – 2015 2016 – 2019 2020
Average $113,161 $124,821 $123,042
Median $115,000 $120,000 $110,000

 

Lighting Manufacturing – Regional Sales Managers

2010 – 2015 2016 – 2019 2020
Average $97,168 $116,484 $122,656
Median $91,000 $115,000 $122,500

 

Women in the Electrical Industry 2020

At least every other year, we have reviewed the progress (or lack) of diversity in our industry. While our industry continues to be male dominated, NAED sold out its first NAED Women in Industry Forum last summer. With the pandemic and all conferences either cancelled or moved to an online format, we looked to our database for some information.

We have over 117,000 industry names in our database; across electrical distribution, power distribution manufacturing, wire and cable manufacturing and lighting design and manufacturing. Of the 117K names, we took a random sample of roughly 29,900 individuals. From this sample, only 20.6% were women. Here’s a breakdown of the sample size by gender and title:

Of the women in a VP-level position, 30% are VP of Human Resources, 23.4% are VP Sales, 12.5% VP Marketing; and the remaining 34.1% are across all other positions such as customer service, marketing (6.9%), operations, engineering, product development, etc. For C-suite level, of the 103 women, 40% are CEO, 36.9% are CFO and 13.6% are COO; yet women only represented 12.5% of C-level positions across all departments.

From the VP level category, the only department where men and women were equally represented was Customer Service; and women dominated the Human Resource responsibility, where 67.7% were VP of HR. Though, for VP Marketing, at least 46% were women. All other departments were dominated by men like Operations and Engineering. Of the 246 VP of Operations, only 10.6% were women. And women represented 3.5% of VP Engineering.

Add in race to each gender category and the numbers are more abysmal. In all? We have plenty of room for improvement.

Unfortunately, due to the pandemic and its dramatic affect to parents, especially families with young children, we may not see an increase in women involvement in our industry (at least in the next year or so). As shown in a Washington Post article by Alicia Sasser Modestino, the increased dependency put on working parents during work hours may have an adverse effect on a mother’s career1.

Dependent upon state and local restrictions and influences, there are many schools that have continued the 2020-21 school year with an online learning format. Last school year has already forced some working parents to decrease their available working hours or removed them from the workforce all together. And with this upcoming school year online, where does this leave working parents? As Modestino pointed out, women have historically taken on the ‘caretaker role’ and may have to bear the childcare responsibility if their child(ren) continue with online learning. This is especially worse for those working in a service or any position where work cannot be completed remotely, removing themselves from the workforce.

The year of uncertainty continues and widens its impact. Will it stunt women’s involvement in the Electrical Industry in the upcoming years?

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1: https://www.washingtonpost.com/us-policy/2020/07/29/childcare-remote-learning-women-employment/

Ted Konnerth Joins Merrimack Group

Ted Konnerth (of Egret Consulting Group) joins Merrimack Group of Merrimack, NH as a Manager Director.

Merrimack Group is a mergers & acquisitions (M&A) consulting firm; specializing in STEM fields, including lighting, industrial cutting and welding and diagnostics. Merrimack Group has 20 years of M&A experience, with deals ranging from $1 – 333 million. More information about Merrimack Group can be found at https://www.merrimack-group.com/home. 

Ted Konnerth founded Egret Consulting Group in 1999 and has over 35 years of lighting industry experience. Konnerth is currently a board member of Egret Consulting and will continue to recruit on select C-level retained searches.

READ OFFICIAL PRESS RELEASE

For M&A consulting information, contact Ted Konnerth at Ted.Konnerth@merrimack-group.com. 

Companies for Sale

Pemberton. Smart Cities IoT start-up technology company. New tech for smart cities; smarter, cheaper, more efficient and robust communications. International acceptance with a pending order for >$15M.

Atlantic. Commercial LED lighting fixture company. Unique products offer solutions for commercial and hospitality markets and >40 patents.  High recognition company, with a customer list that includes several large, global national accounts.

NOTE: Atlantic is a code name and is NOT in any way related to Atlantic Lighting. We apologize for the confusion.

Somerset. High efficiency optic fixture product line for high mounting applications; 40-100 ft mounting height applications. Entire product line is for sale; with a customer list that includes the world’s leading sports and live entertainment company.

Click to contact Ted Konnerth and learn more

professional recruiter electrical industry ted konnerth

Ted Konnerth, Egret Consulting Group’s founder and now Board Member recruits on select C-level searches. Ted is also the Managing Director for Merrimack Group, a merger and acquisitions firm. To learn how Ted can help your company view his biography, check him out on LinkedIn or email him at tk@egretconsulting.com.