Cannabis Industry Salary Guide Now Available
Vangst, a professional network for the legal cannabis industry, has released its latest Cannabis Industry Salary Guide. As several states prepare to come online for adult-use cannabis, the report is a valuable resource for job seekers to compare their compensation packages with others in their field and region, as well as employers looking to offer competitive compensation packages that align with industry standards.
Despite the pandemic, the industry experienced growth and hiring remained active, albeit different in nature than in previous years. Data shows that although there were workforce reductions and furloughs when stay in place orders were first announced in March and April, the industry quickly rebounded as demand for cannabis remained high among consumers. Vangst projects that 26,241 new jobs will be added in the states that legalized cannabis for medical or recreational use in the November 2020 election.
Year-over-year, Vangst saw a sizable increase in the number of job postings for cultivation technicians and directors, trimmers and packagers, budtenders, delivery drivers and logistics coordinators. The report also found a significant uptick in salaried positions compared to hourly work as employers aim to reduce turnover rates and integrate hires into their company cultures.
“We were extremely pleased with the results of our survey and study for this year’s salary guide. Despite the hardships during 2020, the industry flexed its resolve, proved its essential designation while facing the pandemic,” said Karson Humiston, founder & CEO of Vangst. “As we enter 2021, the Vangst Cannabis Industry Salary Guide will provide cannabis companies and prospective employees with the salary and benefits information they need to build a professional, diverse, and engaged workplace.”
The guide outlines the average salary along with high and low salary benchmarks for jobs across six areas including retail, cultivation, lab and extraction, manufacturing, sales and delivery jobs. In addition, employers were surveyed about their benefit offerings to employees. Currently, about 83% of workers receive paid time off, while 73% receive medical benefits.The report also found that creative perks are on the rise as companies look to attract top talent from both within and outside of the industry.
Having surveyed more than 1,000 people working in the industry today, Vangst offers a snapshot of a cannabis professional, among the findings:
- Top industries for job seekers crossing over into cannabis include: food service, retail, agriculture, healthcare, and marketing/public relations.
- More than two-thirds of respondents have experience working in unlicensed (i.e. illicit, grey market) businesses, with 21.1% having worked in such environments for 10 years or more.
- More than half (56.9%) of respondents have a bachelor’s or advanced college degree.
To find out more about average salaries and compensation in cannabis, request your free copy of Vangst’s Cannabis Industry Salary Guide at https://vangst.com/reports/salary-guide.