To take Waterstone’s salary survey and help the cannabis industry have more compensation data, click here.
The legal cannabis market is booming; that much is obvious. Along with this boom is a growing job market in the industry. According to Leafly, by the start of 2019 the legal cannabis industry had created 211,000 full-time jobs.
Additionally, a report from New Frontier Data projected that, by 2020, the legal cannabis market will create more than 250,000 jobs, more than the expected jobs from manufacturing, utilities, or government jobs, according to the Bureau of Labor Statistics.
However, it’s unclear if cannabis businesses are truly ready to fill these available positions. One key issue? Data. “When we get asked by clients for guidance, we do not have enough data to inform decisions on compensation ranges for roles,” explained Amy Dordek, managing director of Waterstone LLC. As a leading talent acquisition firm, Waterstone understands the importance of having this data.
It’s for the same reason that websites like Glassdoor have become so popular. It’s important that companies understand how much they should pay for a position – and for employees to understand how much they should be paid. While compensation largely varies based on location of company, position, and employee experience, it’s important to understand compensation ranges so companies and employees know how much their time is worth.
“We have extensive experience in HR best practices and have purchased salary surveys in our past, but we could not find good salary data in the cannabis space except for anecdotal information,” Dordek continued. For this reason, Waterstone set out to collect their own salary data.
By partnering with Cannabis & Tech Today, Waterstone created this survey for industry professionals so they could make informed decisions when determining salary ranges for key hires within the cannabis space. The results will later be reported by Cannabis & Tech Today, so make sure to stay tuned to our website and upcoming summer issue.
If you wish to participate in this survey, please click here.