Compensation data we’re confident the cannabis industry can trust, rely on

Retail salaries increased

Denver recruiting firm Vangst said retail salaries went up 3% from 2019 to 2020. (Photo by Sean Capshaw)

As the cannabis industry continues to expand across the United States, so does the need for compensation data that follows federal regulations and guides sound business practices.

While numerous salary guides are produced each year, the U.S. Department of Justice has rules regarding the collection and dissemination of compensation data.

These laws, which are part of antitrust and anti-collusion regulations, are meant to protect the anonymity of organizations and employees while ensuring unbiased results when producing compensation surveys.

Our understanding of these regulations include:

  • The survey must be managed by an independent third party such as a compensation consultant, government agency or trade association.
  • The information provided by survey participants is based on data more than three months old.
  • There are at least five companies reporting data for each job or position.
  • Data is not displayed if a disproportionate percentage of the underlying incumbent data comes from
    one facility.
  • Information is sufficiently aggregated, so the public won’t be able to identify compensation paid by any particular participant or company.

Utilizing third-party surveys that adhere to these regulations might provide an extra layer of compliance and protection—not to mention following best practices that support organizational growth
and success.

BlueFire Cannabis by FutureSense, Marijuana Business Magazine, the National Cannabis Industry Association and Greenleaf Business Solutions have worked together to produce a compensation survey that adheres to these regulations and is actionable for cannabis companies and ancillary businesses nationwide.

Salary ranges in Cannabis

To access compensation data for more than 100 cannabis industry jobs, visit content.futuresense.com/2021cannabiscompensationreport

NEXT: Where Do MSOs Cast Their Nets?

Leave a Reply

Your email address will not be published. Required fields are marked *