Biomass
$0.75
-29%
Broad Spectrum Distillate
$3,700.00
+6%
CBD Isolate
$1,125.00
-2%
CBG Isolate
$7,500.00
-6%
Water Soluble CBD Isolate
$2,100.00
+35%
Water Soluble CBD Broad Spectrum
$2,700.00
+13%
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24. September 2020
Corporate News Market Data News Trends & Insight

Market Data Snapshot: U.S. Cannabinoid Industry Salaries

CannabizTeam, the world’s largest cannabinoid-focused executive search and staffing firm, recently published its 2020 US Cannabis Industry Salary Guide – Third Quarter Update., providing insight into the salary ranges for key roles at cannabis, CBD and hemp businesses.

U.S. Cannabinoid Industry Salaries

Source: PRNewsfoto/CannabizTeam

CannabizTeam has updated and expanded the information made available in its first 2020 US Salary Guide, published in January of this year.

A few highlights featured in the 2020 Q3 report include:

  • 16% average increase in executive compensation in 2020
  • 12% increase in Dispensary Managers’ salaries, to $85K
  • 16% increase in median salaries for Director of Cultivation positions, to as much as $250K so far in 2020
  • Salaries ranging from $225K-$400K for Chief Financial Officers

 

Liesl Bernard, CEO and founder of CannabizTeam, said, “Who could have imagined back in January how much the world would change over the next six months? With so much pain and devastation caused by the global pandemic, the resilience of the U.S. cannabis industry has been one of the few bright spots so far in 2020. Fuelled by the ‘essential business’ designation from state and local governments, cannabis businesses have filled tens of thousands of new permanent and temp positions so far this year in a labor market where more than 30 million U.S. workers have filed for unemployment benefits. We could not be more encouraged by the growth the industry is experiencing in these challenging times.”

With the cannabinoid industry slated to grow to $15.5 billion in sales by the end of the year, the updated guide provides valuable insights for cannabis leaders including salary ranges for jobs, as well as key roles in CBD and hemp businesses. All data in the salary guide is derived from CannabizTeam’s actual 2020 cannabis job placements as well as published salary data from private and government sectors.

To view the 2020 Cannabis Salary Guide in its entirety, visit cannabizteam.com/cannabis-salary-guide.