OCTOBER marks the start of the ‘golden quarter’ where the majority of sales are made across the UK.

It doesn’t matter what industry you’re in, the run-up to Christmas sees both overall sales – and commission levels – leap.

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Discover thousands of UK job vacancies now on The Sun Job Board

Have you ever wondered just how much you could make in a sales job? Click the links to find out your potential pay packet.

Sold on a sales job? Here’s your five-minute ‘need to know’ from Sun Jobs to break into the industry.

What is a sales job? 

All jobs in sales involve selling a company’s products or services to customers.

Salespeople play a key role in almost every industry as they are responsible for identifying potential customers, building trust and convincing them to make a purchase. 

There are lots of different responsibilities, including selling face-to-face, over the phone, generating leads, negotiating sales contracts and demonstrating products.

You may also be called on to provide after-sales service in some sectors.

Savvy sales people also keep an eye on the market, tracking trends and what competitor companies are doing.

How much do salespeople earn? 

Most sales jobs offer a small basic salary with the chance to earn much more in commission.

This means the salary you earn will vary according to how successful you are.

Estimates for sales salaries range from £16,000 for a first job up to £125,000 for a top salesperson in an industry such as estate agency or high-value iT systems.

On average, expect to pocket between £40,000 to £50,000.

What qualifications do you need to get a job in sales? 

Sales isn’t about qualifications, it’s about people. The saying ‘people buy from people not companies’ explains why personality is so essential to be a good salesperson.

You need to be tenacious, have the ability to form connections and trust, and be highly organised to keep track of your sales inventory.

That said, most jobs will expect you to have GCSE passes in Maths and English as a minimum and certain professional sectors such as pharmaceutical sales will seek candidates with related degrees.

You can find out more at professionalsalesassociation.co.uk and the-isp.org.

What career progress is there for salespeople? 

Plenty. Being a successful salesperson proves you have commercial acumen which can take you into the boardroom or even to become MD or CEO.

Once you have experience and a solid track record in sales, pathways include moving up to be an area or regional manager, where you support an entire sales team.

You could also choose to work in marketing, product or account management.

Discover thousands of open vacancies for jobs all across the UK now on The Sun Job Board

Money Marketing’s Weekly Must-Reads: Top 10 Stories

Key highlights include the Chancellor ‘likely to target’ £48bn pension tax relief in the Budget and the PFS-CII relationship being ‘blown wide open’ after the latest developments. Read more below:



Chancellor ‘likely to set sight on’ £48bn pension tax relief in Budget

PFS and CII relationship ‘blown wide open’ after latest saga

Tensions between the Personal Finance Society (PFS) and its parent body, the Chartered Insurance Institute (CII), have reignited after the CII appointed four of its executives, including CEO Matthew Hill, to the PFS board on 1 October.

This follows the controversial “Christmas coup” in December 2022, when the CII imposed directors on the PFS board due to governance issues. The move has drawn criticism from the campaign group OurPFS, which fears this could define the future of the PFS.

True Potential CEO Daniel Harrison steps down after seven years

True Potential CEO Daniel Harrison is stepping down after seven years in the role, following a planned transition since the firm’s partnership with private equity firm Cinven in 2021.

Harrison announced his departure to staff at the firm’s annual conference on 3 October. Co-founding True Potential 17 years ago, Harrison played a pivotal role in the firm’s growth to over 500,000 clients and £31.4bn in assets.

He expressed confidence in the executive team to lead the business forward post-departure.

FCA fines Starling Bank £29m for financial crime failings

The FCA has fined Starling Bank £29m for serious failings in its financial sanctions screening and anti-money laundering framework.

Despite agreeing to restrict opening new high-risk accounts in 2021, the bank opened over 54,000 such accounts between September 2021 and November 2023. An internal review revealed Starling’s automated screening system only checked a fraction of those on the sanctions list.

The FCA criticised the bank’s lax controls, but Starling has since implemented measures to improve its financial crime controls.

Abrdn Adviser hires chief technology and product officer

Abrdn Adviser has appointed Derek Smith as its new chief technology and product officer, starting in November.

Smith, previously CTO at Morningstar Wealth, will lead the integration of technology and product teams, driving innovation and scalability at Abrdn Adviser. CEO Noel Butwell highlighted Smith’s experience in delivering market-leading solutions during a time of digital transformation.

Smith joins amid a leadership expansion, following the recent hires of Verona Kenny as chief distribution officer and Louise Williams as CFO, as Abrdn Adviser focuses on growth and platform upgrades.

FCA secures first conviction for crypto ATM operation

The FCA has secured its first conviction for illegal crypto ATM operation in the UK. Olumide Osunkoya, 45, pleaded guilty to operating unauthorised crypto ATMs, using false documents and possession of criminal property.

Between December 2021 and September 2023, Osunkoya’s network of at least 11 crypto ATMs processed over £2.6m in transactions without conducting due diligence or source of funds checks. His machines, located in convenience stores, were used by those likely involved in money laundering or tax evasion.

Sentencing will take place at Southwark Crown Court.

Royal London chair Parry resigns

Kevin Carr: It’s almost as if we want to put people off…

Standard Life launches free pension-finding tool

Standard Life has launched a free pension-finding tool in partnership with Raindrop to help UK residents locate their missing pensions.

Research revealed that 19% of individuals with multiple pensions have lost track of at least one. Despite the advantages of consolidating pensions, 73% of people with multiple workplace pensions have not done so, often due to uncertainty or difficulty in the process.

Users can trace lost pensions by providing their former employer’s name and employment period, streamlining the search and aiding retirement planning.

Hang Seng ‘performed better’ during 2024 than S&P 500

NATIONWIDE is cutting interest rates on a host of its savings accounts for the first time in four years.

The building society is slashing rates across the board following the Bank of England‘s (BoE) decision to drop base rate from 5.25% to 5%.

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Base rate is the rate charged to high street banks which is then reflected in mortgage and savings rates.

Nationwide, which serves around 17million customers, says it will lower rates by between 0.10 to 0.20 percentage points from November 1.

It is the first time the building society has cut rates on its savings accounts since 2020, when the BoE last dropped interest rates.

Rates will fall on regular savings accounts, children’s accounts, limited access and easy access savings accounts.

Five of Nationwide’s 24 savings accounts won’t see any change in interest.

Its Continue to Save regular savings account will fall from 2.50% to 2.30% at the start of next month.

Meanwhile, its 1-year Triple Access Online Saver 15 will fall from 4.25% to 4.10%.

Its Instant Access Saver 10 account will be cut from 2.40% to 2.20% – a 0.20 percentage points drop.

Tom Riley, Nationwide’s director of retail products, said: “We have worked hard to limit the impact of the recent rate cut on our savers and have taken the decision to not reduce rates on those accounts encouraging a regular savings habit.

“Following these changes, our savings range will remain competitive, and we’ll continue to give savers every reason to put their money with Nationwide.”

The full list of Nationwide’s savings accounts and whether their rates are being cut is in our table below.

The announcement from Nationwide comes as a number of other banks cut rates on savings accounts.

Santander recently slashed the rate on its easy-access savings account from 5.2% to 4%.

Chase, CHIP and The Co-operative Bank have also cut rates since the BoE’s decision to lower base rate to 5% in August.

Sarah Coles, personal finance expert from Hargreaves Lansdown, said: “It’s not a big surprise to see Nationwide cut rates, because we’ve seen them fall across the savings market as a whole.

“It remains relatively competitive for a high street bank, which is vital for those people who absolutely need to bank in a branch.

“Having said that, it leaves plenty of accounts looking distinctly lacklustre.”

Should you switch?

If you’re a Nationwide customer with one of the affected savings accounts, you might be considering switching to another bank.

According to Moneyfacts, the best easy access account is currently with Ulster Bank which is offering a 5.20% interest rate, although you have to put in a minimum of £5,000.

Customers could try Cahoot’s 5% savings account which you can start adding to with just £1.

The best regular savings account is with Principality Building Society, which is offering 8% interest.

Meanwhile, the most competitive Children’s account is with Saffron Building Society which is 5.55%.

Sarah suggested for those looking to get a better limited access account Coventry BS’ Triple Access Saver is offering 4.83%

She suggested looking at challenger instead of major banks to get some of the best rates on other accounts too.

“You’ll get a far better rate by looking beyond the high street, and considering online bank accounts or online cash savings platforms.

“You can track down the best performers using a price comparison site.

“However, if you know this isn’t something you’ll have the energy for on a regular basis, you can use an online cash savings platform, like Raisin or Active Savings.

“These have competitive rates from a large number of banks, and let you switch between different accounts from different banks without having to complete fiddly paperwork, and with just a handful of clicks of the mouse.”

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

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In a landmark case which established the modern law of negligence and the principle of duty of care (Donoghue v Stevenson, 1932), Donoghue sued a ginger beer manufacturer after becoming seriously ill and finding a decomposed snail in her bottle.

The court ruled in her favour, concluding manufacturers owe a duty of care to consumers even in the absence of a contractual relationship.

The application of a common-sense approach to customers’ rights is the same judgement the Financial Conduct Authority intends for firms when applying Consumer Duty.

Proportionality is a watch word for skilled persons as well as regulators – and it should be for firms

Both the FCA and the new government have recently signaled a desire to encourage growth in UK financial services and to promote competition. In part, this can be achieved through more principles-based regulation such as Consumer Duty.

This summer, the FCA announced it would seek to “reduce burdens on firms and support growth” using the opportunity of the Duty and the move to an outcomes-based approach to streamline its rulebook.

A willingness to streamline detailed rules is likely to be welcomed by firms – but it is not without risks when it comes to interpretation and application.

The tension between securing consumer protection and promoting a healthy market is a balancing act which has always existed for the regulator.

The new focus on growth and principles-based regulation could lead to greater uncertainty around interpretation of the rules

On a micro level, we have seen it play out in the skilled person reviews. There’s always a consideration as to how far an intervention should go when balancing the risk of harm to consumers versus unnecessarily damaging a viable firm if the rules are interpreted too stringently.

Proportionality is a watch word for skilled persons as well as regulators – and it should be for firms.

Implications of new ‘growth’ agenda

The regulator has been fairly stringent in its demands over the last five years at firm supervision level around controls and the timeline for embedding these into practice.

Emphasising growth and competition, even as secondary objectives, may result in a reduction in the time required by the regulators for newly enhanced controls to be embedded – for example, three to six months, rather than six to 12 months.

In addition, the principles-based approach of Consumer Duty might point the way in other areas traditionally heavy on prescriptive application, such as Client Assets (CASS) Rules.

We’ve seen high staff turnover at firms and the FCA, which risks inexperience and inconsistency making these calls

In applying CASS, we have seen very specific rules – such as the need to delete square brackets that denote where text is to be added to a template document – resulting in the regulator instructing firms to reissue and re-execute the documents, at significant cost and effort.

So, the new focus on growth and principles-based regulation could lead to a reduction in cost for firms and, in extreme cases, avoid insolvencies. It will, however, also lead to greater uncertainty around interpretation of the rules.

Interpretation will require a higher level of skill and experience from both firms and the regulator to form judgement calls around principles-based regulation.

We’ve seen high staff turnover at both firms and the FCA over the past few years, which risks inexperience and inconsistency when it comes to making these calls. As the new direction becomes embedded, it will be important for the regulator and regulated firms to have experienced personnel in key roles.

What should firms do?

Firms should train and upskill both staff and board members to be able to apply more principles-based regulation.

Staff should be made aware they are doing more than simply following a set of rules, but rather thinking through the intention behind the regulation.

The new direction from the regulator should create opportunity for financial services firms

There will also be a greater requirement from non-executive directors (NEDs) to raise challenging questions at board meetings around achieving regulatory purpose, rather than simply tracking key performance indications or key risk indicators.

The board should also be able to challenge management information they receive along these lines.

In addition, NEDs can bring invaluable experience of how other firms are interpreting principles. While a “me too” approach is not helpful, an understanding of the range of peer interpretations is valuable input.

We see a lot of small firms without independent NEDs (iNEDs) on the board. While costs can be an issue (sometimes more perception than market tested reality), an iNED can help avoid regulatory missteps.

Ultimately, the new direction from the regulator, enabled by the government’s pro-growth and competitiveness agenda, should create opportunity for financial services firms. But it will also require a more nuanced and enquiring mindset around the application and intention of regulatory requirements.

John Higgins is chief executive of Pathlight Associates

A STUNNING 3-bedroom coastal home in Devon worth over £2 million could be yours in the Omaze Million Pound House Draw.

One lucky winner will get the keys to this beautiful contemporary home – you can purchase entries from as little as £10.

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Devon Omaze Million Pound House Draw

This two-tiered West Country residence comes complete with countryside views, a guest annexe and a heated pool.

In addition to the property itself, the Omaze winner will receive £250,000 in cash to help them settle in.

Along with the prize comes huge financial flexibility: the winner has the option to move straight into this gorgeous Devon retreat, rent it out, or even put it back on to the market.

An estimated monthly rental income of £4,000 means that this home could also serve as a seriously lucrative investment.

One of the most attractive aspects of the Million Pound House Draw is that there are no hidden costs.

Not only will you not have to worry about paying stamp duty, but mortgage fees and conveyancing costs are also covered.

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The house also comes with all the furnishing included, so you’re completely free to move in without digging into that quarter-million cash prize.

This luxe three-bed and two-bath home is situated in the scenic town of Exmouth, which is 12 miles from Exeter, Devon’s second-largest town.

It strikes the perfect balance between coastal living and quick city access.

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Devon Omaze Million Pound House Draw

You’ll get amazing countryside views thanks to the floor-to-ceiling glass that’s in every room, which fills each space with natural light.

The property is also close to Orcombe Point, a UNESCO World Heritage site famous for its dramatic landscape.

Then there’s the annexe, which contains its own kitchen area and boasts stunning views: the perfect place for guests to stay.

Anyone who works from home will also be happy to find a dedicated study space, with Scandinavian-inspired decor and space-saving ladder shelving.

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Devon Omaze Million Pound House Draw

What’s more, by entering early, you’ll give yourself a chance to win not one but two luxury cars.

Alongside the dream Devon home and the £250,000 cash prize, early entrants are also in the running to win BOTH a Porsche Cayenne E-Hybrid and a Porsche Boxster S. 

The Cayenne is a perfect family four-by-four, while the Boxster is a sleek sports car. The total cost for both cars totals over £170,000.

The Omaze Draw isn’t just about changing one lucky winner’s life, however, it also makes a significant impact on society.

A minimum donation of £1m from the Devon House Draw will be given to Campaign Against Living Miserably (CALM). 

CALM’s mission is to help people struggling with life find hope and a reason to stay. 

This substantial contribution will help fund CALM’s suicide prevention helpline for six months, allowing the organisation’s staff to answer over 80,000 calls and provide crucial support to those in their time of need. 

Terms and conditions: Over 18s and UK residents only. No purchase is necessary. Visit omaze.co.uk for full terms and to enter. House closes 27/10/2024.

As the 30 October UK Budget approaches, speculation and uncertainty about potential reforms are rampant.

The Labour government, facing significant political and manifesto constraints, appears to be gearing up for major tax policy announcements, despite not running on a tax reform mandate.

The Office for Budget Responsibility has warned UK debt is on an unsustainable path, and chancellor Rachel Reeves has pledged no return to austerity and no changes to major taxes like income tax, National Insurance (NI) and VAT.

This leaves her with little room for manoeuvre in addressing the daunting task of an apparent £22bn ‘fiscal black hole’.

By focusing on the fiscal black hole without a clear roadmap, the government fostered a backdrop of fear ahead of its first Budget

This approach has created a fertile ground for rumours and conjecture, unsettling clients.

By focusing on the fiscal black hole without a clear roadmap, the government inadvertently fostered a backdrop of fear three months ahead of its first Budget.

Stability and predictability are crucial for sound financial decisions, yet the current approach offers neither. The recent dip in UK consumer confidence, highlighted by the latest British Retail Consortium data, reflects this uncertainty, especially among older generations who fear the Budget’s impact.

Confidence among business leaders in September was also at its weakest since December 2022, according to the Institute of Directors’ Economic Confidence Index.

I have written to the chancellor expressing the immense pressure financial advisers are under

This vacuum has led to speculation about potential policy reforms, particularly regarding pensions. Over the past months, theories have ranged from plausible to alarming, affecting those planning for retirement.

I have written to the chancellor expressing the immense pressure financial advisers are under to second guess potential Budget outcomes due to the lack of government communication regarding pension plans, and to ask that any reforms to pension policy are introduced with a clear roadmap, ensuring the public is well-informed and well-prepared for changes.

Advisers tell me they have been inundated with calls from concerned clients, many of whom are at risk of making knee-jerk decisions that could derail their long-term plans.

Advisers have been inundated with calls from concerned clients, many of whom are at risk of making knee-jerk decisions

Who knows what actions might have been taken by those choosing not to take the counsel of an adviser. The current approach seems likely to result in foreseeable harm to retail customers.

So, where might the ‘tax axe’ fall?

Labour seems to have adopted the Tory strategy of freezing income tax thresholds for at least the next three years, which will continue to raise revenue as earnings increase.

Additionally, the government may reassess inheritance tax reliefs, potentially removing, capping or redefining benefits like agricultural property relief and business relief.

This is all very well but think tanks don’t have the experience of implementation

Alarmingly, given pensions have only recently seen major reforms to the lifetime allowance and tax-free cash entitlement, reports from think thanks and research houses are urging HM Treasury to consider restrictions on the 25% tax-free cash lump sum on pensions or changes to pensions tax relief.

This is all very well but think tanks don’t have the experience of implementation and, without consultation and clear communication, such plans could lead to unintended consequences and ill-considered withdrawals.

The government must provide more clarity on long-term pension policy to prevent speculation and poor decisions. Denying access to previously promised benefits would distress savers who have structured their retirement strategies around existing rules.

Advisers, who are on the frontline fielding calls from anxious and confused clients, need clear assurances about long-term policy

There is more recent speculation that the government may remove the NI exemption on employer pension contributions. While this may be more politically acceptable after the backlash over the winter fuel policy, as it does not directly impact consumers, it is not a pro-growth policy.

In time, the move would risk impacting working people due to employers potentially passing on the increased costs by reducing the level of contributions they make on behalf of employees.

Similarly, the benefit of salary sacrifice arrangements used by employees will yield a lower eventual pension contribution impacting what they put away.

The government must balance managing expectations with encouraging business investment, consumer spending and investor confidence

Financial planners, who are on the frontline fielding calls from anxious and confused clients daily, stopping them from making hasty decisions, such as prematurely withdrawing pension funds, need clear assurances about long-term policy direction ahead of fiscal events.

With the UK showing no growth in June or July and waning sentiment, the government must balance managing expectations ahead of 30 October with encouraging business investment, consumer spending and investor confidence.

Steven Levin is chief executive of Quilter