WeedWeek recently reviewed our 2020 Cannabis Industry Salary Guide, Q3 update and came to the following conclusion: employment in the cannabis industry is booming. Willis Jacobson, a reporter with WeedWeek, provided an update on the cannabis industry job market so far this year in an article that published on September 22.
“Despite the COVID-19 pandemic having ravaged much of the broader U.S. job market, the cannabis jobs market is booming,” begins Jacobson. “This year it has seen rises in both total positions and salaries, according to a new report.”
Jacobsen continues to provide an overview of the CannabizTeam Salary Guide, highlighting the following key trends:
- The report shows across-the-board growth in the cannabis industry, a trend attributed to increasing competitive demand and a rise in multi-state operators seeking top talent.
- Retail workers have seen a boost in their pay, with the average salary for Dispensary Managers seeing a 12% increase from 2019. Budtenders, customer service positions, delivery drivers, supply chain management, janitorial and security are cannabis industry jobs in high demand.
- The only position that did not show positive salary growth was Event Manager, which saw just a 1% drop from 2019. This change can likely be accredited to the decrease in in-person events due to the pandemic, though other positions – such as E-commerce Manager – have seen an increase in average salary that could potentially be due to the health crisis.
- Demand for new talent has pushed average executive compensation up nearly 16%, with top-level CEOs and CFOs earning more than $400,000 in base salary.
- Marketing executives appear to be benefiting from the industry’s growth as more brands compete for shelf space, prepare for federal legalization, expand e-commerce and into international markets.
Jacobsen also consulted with Greg Cowan of Greenleaf HR and McKenzie Swisshelm of 420 Kingdom for their takes on the current state of the industry. Both agreed that there is an apparent increased demand for qualified employees, and don’t expect industry growth to slow down anytime soon.
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Download CannabizTeam’s 2020 Salary Guide for free today, and don’t hesitate to reach out if you’d like to discuss cannabis staffing solutions for your company.