- Salaries are rising in the cannabis industry.
- There are 24 nonexecutive roles in cannabis that offer six-figure salaries, according to a recent report by CannabizTeam.
- They include cultivation manager, director of compliance, and director of IT.
- All the roles on this list have seen salary increases since 2019.
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Cannabis salaries are increasing as companies poach executives and senior management from other sector like retail, consumer packaged goods, pharmaceuticals, and biotech.
That’s especially true for top-level positions. The average salary for executive positions rose 16% in the first half of 2020, compared with 2019, according to a report from the cannabis staffing agency CannabizTeam.
“Over the past six months we have seen an increasing flow of senior management moving to cannabis from the consumer packaged goods, biotech, food and beverage, retail, financial services and pharmaceutical industries,” Liesl Bernard, the CEO of CannabizTeam, wrote in the report.
Pay in other highly compensated roles increased as well. Average salaries for directors of compliance grew 16% in the same time period. They earn median salaries of $128,500. Directors of IT, the top-paid nonexecutive position on the list, rake in a median salary of $217,000, up 10% from 2019.
This trend holds true in newer cannabis markets like Arizona, Florida, Illinois, Massachusetts, Michigan, and Pennsylvania where new companies are looking to hire those experienced in the industry. High-level marketing positions are also gaining traction as companies gear up to build up national brands by securing shelf space in dispensaries and expanding e-commerce strategies.
The cannabis industry is estimated to be worth $31 billion by 2025, according to Cowen analyst Vivien Azer. If Arizona and New Jersey legalize adult-use cannabis in November, and Mississippi and South Dakota allow medical marijuana, that figure could rise to $34 billion.
Here are all the jobs in cannabis that can earn you six figures at the median pay level, according to CannabizTeam’s report.