Anyone in B2B FX Sales?
Hi everyone, I rarely see discussions on this topic, and my searches haven’t turned up much information.
I’m considering an offer for an Account Executive role with a £50K base salary and an £80K OTE selling a fintech platform in the FX/payments sector. The role involves selling spot and forward FX trades, risk management/hedging solutions, and a platform for processing and holding currencies. Competitors include companies like Alpha Group and Revolut.
This opportunity would be a significant increase from my current base of £35K (OTE £45K) in wealth management (London-based). While the higher OTE is appealing, I’m concerned that the hours might be demanding based on Glassdoor reviews of similar companies. It seems like a high-pressure environment where you either thrive or struggle.
Does anyone here have insights or advice about this industry? I’m leaning towards turning it down, but I’m worried about missing out on potential earnings and opportunities. Additionally, I’m unsure about the exit opportunities from this role, which is a crucial factor for me. I’m willing to put in the effort but I also prioritize work-life balance, job stability, and the chance to acquire skills that will enable me to move beyond sales in the future. Any thoughts would be greatly appreciated!
One response
It sounds like you’re weighing a significant career decision, and you’re right to consider both the financial aspects and your work-life balance. The B2B FX sales space can be quite rewarding, especially with an OTE that increases significantly compared to your current role.
Here are a few points to consider that might help you decide:
Role and Responsibilities: Make sure you have a clear understanding of the expectations and daily responsibilities in the AE role. Sales can be demanding, and the “sink or swim” environment might not suit everyone. If you’re willing to put in the hard work but worry about burnout, look for signs of support (e.g., training, mentorship) offered by the company.
Industry Stability and Growth: Research the FX and fintech sectors. They’re often competitive and subject to regulatory changes, but they are also growing rapidly. Understanding the industry’s trajectory could give you more insight into job stability and potential growth opportunities.
Exit Opportunities: Selling a fintech platform, especially in FX, can open various doors in financial services, technology sales, and even roles in product management or operations. Networking with professionals in the space can provide clarity on career paths after sales.
Work-Life Balance: It’s essential to assess how the hours for this role align with your personal life. If the company culture is one that values hard work but also respects personal time, that could be a significant factor. Ask current employees about their experiences working there, both the positives and the challenges.
Comparative Compensation: While the £50K base with an £80K OTE is appealing, also consider the full compensation package: benefits, bonuses, commissions, and any other perks. Sometimes a slightly lower base can be more favorable if the overall package includes significant benefits.
Personal Goals: Reflect on your long-term career aspirations. If this role aligns with where you see yourself in the future, it might be worthwhile to make the leap. However, if your priority is to move away from sales, consider how this role will help you build skills for your next move.
Ultimately, it’s about finding a balance between financial reward and your personal and professional happiness. Take the time to reach out to connections in the industry for their insights and experiences; sometimes, first-hand accounts can shed more light than research alone. Good luck with your decision!