A fashion merchandiser coordinates all the activities involved in the marketing, selling, and buying of garments in the fashion industry. The first aspect that many people look at when applying for a job as a fashion merchandiser is the fashion merchandising salary. Knowing the salary of the job that one is applying for does not only apply to this position. We all want to know how much we will be paid before taking any position in a company. Fashion merchandising salary is paid according to the title an employee holds in a fashion merchandising company. There are those who get more salary than others depending on the duties and responsibilities assigned for each position. There are many job titles that fall under fashion merchandising and each title has a specific fashion merchandising salary range. Some common job titles under fashion merchandising include visual merchandiser, fashion store manager, merchandise planner, fashion market analyst, etc.
Factors to Consider When Determining Fashion Merchandising Salary
When it comes to deciding on the best salary for fashion merchandisers, a company has to keep a few things in mind. Here are some of the factors the management should consider when determining the perfect fashion merchandising salary.
Duties and responsibilities: There is no way a fashion market analyst will get the same compensation with a visual merchandiser. These positions are very different and the duties allocated for each are different too. Additionally, the experience needed to perform each of the duties is different for each position. It is therefore important for individuals to look at various responsibilities stated for each position under fashion merchandising in order to understand the amount of fashion merchandising salary they are going to receive.
Position value: The overall value the position is going to bring to the company is also something the management should consider when determining fashion merchandising salary. Job titles with a great impact to the company will tend to have more compensation than those with indirect contribution. For instance, a position in fashion marketing will have a higher salary than one in fashion production department.
Company budget: A fashion company needs to evaluate its budget before deciding on the appropriate fashion merchandising salary for its employees. Pay your employees only what the company can afford. You really do not want your company to go bankrupt by directing all the profits to employees’ salaries. That is why it is important to know how much the company is worth before creating your fashion merchandising salary structure.
The Cost of Not Paying a Competitive Fashion Merchandising Salary
Many fashion companies think that they are saving more money by offering their employees low fashion merchandising salary. They forget that low salaries sometimes kill employee motivation and may affect the overall productivity of a company. Instead of keeping employees’ compensation low, the companies should look at other areas where they have been spending more than they should. A good employer should try to reduce unnecessary company costs in order to keep the employee salary on a higher edge. A fashion company that does not offer competitive fashion merchandising salary risks losing great potential employees and kills the morale of current staff.
Avoid Guesswork When Determining Fashion Merchandising Salary
Unless you are very good at guessing, then you should avoid determining fashion merchandising salary from your head. You should conduct an extensive market research to know how much salary other fashion merchandisers in the industry are getting. Only then you should design a salary structure for your fashion company. It is also important to look at the location of your company. If your fashion company is located at a place that has a constant flow of customers, then your employees should be compensated more. It is obvious that they will be working more than they should and so it’s only fair to recognize their effort by making the fashion merchandising salary a bit competitive.