New knowledge exhibits that salaries within the hashish business have risen throughout the board

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“The cannabis industry demonstrated its strength and resilience in 2020 and is emerging as the fastest growing industry in the US in 2021.”

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Sam Riches The 2021 Salary Guide focuses on the US sector in 36 states. The 2021 Salary Guide focuses on the US sector in 36 states. Photo by Aleksandr_Kravtsov / Getty Images

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California-based CannabizTeam has released its 2021 Salary Guide. The data shows that salaries for more than 60 popular positions in the industry have seen wage increases over the past year.

The guide focuses on US industry in 36 states and estimates the sector could support 500,000 full-time positions and annual sales of over $ 35 billion over the next three years.

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“The cannabis industry demonstrated its strength and resilience in 2020 and is emerging as the fastest growing industry in the US in 2021,” said Liesl Bernard, CEO of CannabizTeam. The guide draws on proprietary salary data from the Cannabiz team, as well as surveys and independent research.

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The positions are divided into 10 categories including cultivation, extraction, testing, retailing, manufacturing, distribution, distribution and marketing.

Executives and managers saw the largest increases in the salary range, with many positions seeing double-digit increases.

In 2020, the median salary for cannabis CEOs was $ 315,450 ($ 383,185). In 2021, that value rose 11 percent to $ 350,300 ($ 425,518).

The next highest paying position is in chief financial officers, who grew 10 percent year over year and increased the median salary from $ 318,000 ($ 386,000) to $ 348,500 ($ 423,331).

Of the positions listed, the smallest increase went to Event Managers, whose average salary increased 3 percent from $ 68,000 ($ 82,600) to $ 70,000 ($ 85,030).

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California, Colorado and Florida were named as the largest employers in the industry. They created nearly 125,000 full-time jobs and had total sales of more than $ 7 billion ($ 8.5 billion).

“Salaries continue to rise above the cost of living index due to competition and the lack of staff with specialized cannabis experience or specific transferable skills,” the report said, adding that operators in multiple states are increasingly recruiting from other industries such as pharmaceuticals and technology .

A report released earlier this year called The Golden Cushion, which focuses on Canada’s highest-paid CEOs, listed four cannabis executives. According to this report, the top 100 CEOs earned, on average, 202 times the average Canadian worker.

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The report named Irwin D. Simon of Aphria as the highest-earning Canadian cannabis CEO and the country’s seventh highest-earning CEO. Simon received total compensation of more than $ 18 million. He was followed by Michael Gorenstein, CEO of Cronos Group Inc., who earned over $ 15 million in total compensation.

The field was rounded off by Bruce Linton, who received total compensation of USD 9.3 million at Canopy Growth Corp. in 2019. and Sebastien St-Louis, CEO of Hexo Corp., whose total compensation was $ 8.5 million.

In a 2020 report by the Toronto-based Bedford Consulting Group, former Prime Minister Brian Mulroney, who joined Acreage Holdings in 2018, was named as one of the highest paid directors in the cannabis sector.

His total compensation, including base salary, annual bonus, equity (share-based awards and option-based awards), and pension, was reported at $ 13,913,873.

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