The Foundation for Advancing Security Talent (FAST), in partnership with the Security Industry Association (SIA), Electronic Security Association (ESA), and PSA Security Network, has released the results of its inaugural Security Industry Compensation Study, offering direct insights into compensation trends within the security industry from both integrators and manufacturers. The comprehensive study provides an in-depth look at compensation practices, including salaries, bonuses, benefits, and emerging trends, encompassing data from integration and manufacturing companies across the security industry.
"We have harnessed the collective data from these organizations’ memberships to create the security industry’s most comprehensive study on salary and compensation to date. This initiative stands as a testament to FAST’s commitment to providing vital, industry-wide workforce research and insights," the organization said in a statement.
Tailored for HR professionals, executives, and operational leaders, the report is a crucial tool for informed decision-making regarding salaries and benefits. It also serves as a benchmarking resource, helping businesses attract top talent and stay competitive. The report features detailed compensation, benefits, and other data on key roles in the industry. Here's a sample:
For systems installer/integration companies, the top five paid salary positions based on the average annual base salary are:
1. Sales Director
2. Operations Director
3. Systems Solutions Architect
4. Implementation Engineer, Senior Level
5. Operations Manager
Average annual bonus amounts for systems installer/integration companies display a different mix in the top five, which is dominated by sales staff positions. They include: Sales Director, Operations Director, Sales Manager, Senior Level Outside Account Manager, and Inside Sales Manager. Forty-eight percent of respondents indicated that monetary rewards were offered to techs, project managers, and other related field staff who earned additional licenses or certifications.
"In addition to salary and bonus, dynamic benefits are a critical component to a competitive compensation package. Organizations that can offer superior benefits are better positioned to keep their employee satisfaction levels high and their turnover rates low. Employee satisfaction is particularly important given the current economic pressures of inflation and labor shortages," the report says.
Sales staff tend to have a different set of expectations and goals and because of this are generally compensated differently from other integrator employee categories. Commissions are one of the most common forms of incentive compensation provided to sales staff, with 77% reporting the pay sales positions with some form of commission - whether base salary plus commission, base salary plus commissions plus bonus on top of commissions, or commission only.
Recurring Monthly Revenue (RMR) is another topic companies consider when compensating sales and rewarding business development; in fact, 76% indicated that they had some kind of RMR commission in place. Additionally, of those companies that do provide some kind of RMR commission, 33% indicated that they employ a sliding commission structure based on the revenue generated by RMR projects. 37% said they provide a single, one-time commission for RMR projects; 16% said they utilize a combination of one-time commission and residuals for compensation, and 16% said they offer residuals based on RMR sales using a pay-when-paid model.
Check out the full report for detailed salary and bonus numbers and averages for a wide variety of security integrator and manufacturer positions. Access is free for SIA, ESA, and PSA members, and it is also available for purchase for non-members. Visit https://advancingsecurity.org/discover-the-security-industry/fast-security-industry-compensation-study to learn more.
