Procurement Salary Statistics — 18 Key Figures You Must Know
The procurement salary statistics let you see your dream job’s earnings for the whole year. However, there are many factors that affect salary.
For this article, we will discuss the procurement salary statistics of different countries around the world. We will also check the 18 key figures that you should know for the next 12 months.
After this article, you will have an in-depth knowledge of procurement salary statistics that will help you in your procurement journey.
What are Procurement Salary Statistics?
Many professionals, especially fresh graduates, compare the salary of each industry they will apply to. Negotiating salary is hard because businesses are currently taking back all the losses they incur from the disruption of COVID-19.
A procurement salary statistics is used to determine the average compensation paid to employees in their respective professions. With this being said, these statistics focus more on one or more professions, regions, employer size, and industries.
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What are the Usual Procurement Jobs?
Before we go to salary statistics, you must identify first the job roles to which you are qualified to apply. For this, we created a table that will make you understand each role easily.
What is the Average for all Procurement and the Supply Chain Professionals?
Below is the average salary of procurement and supply chain professionals in 2021.
What is the Average Salary of Procurement and the Supply Chain Operational Level?
The following data shows the average salary of an operational level in 2021.
What is the Average Salary of Procurement and the Supply Chain Professional Level?
The table below shows the average salary at the professional level in 2021.
What is the Average Salary of Procurement and the Supply Chain for Management on an Advanced Professional Level?
The table below shows the average salary for the advanced professional level in 2021.
Where can Procurement Professionals Benchmark Salary?
Before we check the websites we can use to benchmark, it is important to know why we do this in the first place. Salary Benchmarking is the method of comparing job descriptions with similar responsibilities to know their local market rate.
In simple terms, salary benchmarking is a method to see how much a specific profession earns annually, monthly, or even daily.
Salary benchmarking is often conducted through salary surveys. The factors for these surveys are the education level, work location, industry, and company size.
The typical entry-level education for procurement jobs is to have a bachelor’s degree in procurement or even a related course.
Now that we know why salary benchmarking is conducted, we must know where we can find the figures for these surveys. Below is the list where you can benchmark your salary:
The 18 Key Procurement Salary Statistics for 2022
1. According to CIP/hays, there is a 4.6% growth in procurement salaries and a 12.9% average bonus to North American procurement salaries.
2. 83% of procurement professionals agree that a diversified workforce ensures a more open and trusting workplace. It also helps staff to improve retention
3. According to a report made by Interos, 77% of organizations plan to implement technology to be visible within the next 12 months.
4. According to a survey conducted by Peerless Research Group, 56% of respondents point out that their effective career-advancement effort is through personal or social networking. 28% respond that industry certification is their way to advance their career while 27% say that having a membership in a certain industry helps them with their career.
5. A report from ASCM.org shows that 95% of supply chain professionals have managed to keep their job during the pandemic.
6. From the same report, 87% of supply chain professionals received additional cash compensation.
7. 59% of professionals in the supply chain have received a salary increase.
8. It is reported that the typical estimated salary for a supply chain professional is $60,000.
9. 48% of supply chain professionals have been forced to work from home because of the pandemic. While 34% of the respondents are working in their respective offices with safety precautions.
10. According to a report made by ASCM.org, the gender gap is narrowing. It has been reported that men have a median salary of $82,000 while women have a median salary of $80,000. Furthermore, women under the age of 40 have a higher median salary compared to men in the same age group.
11. While there has been a positive trend regarding the gender gap, white respondents reported that their median salary is 12% higher than black respondents and 14% for Latinos.
12. 84% of supply chain professionals possess a bachelor’s degree or higher. It is reported that supply chain professionals with a bachelor’s degree have a median salary of $77,000 which is higher than the national median.
13. Supply chain professionals ranging from 20 to 29 years old have an undergraduate degree in the supply chain.
14. From the same report published by ASCM.org, 81% of supply chain professionals are satisfied with the quality of the benefits they received.
15. Despite the disruption of the supply chain due to the pandemic, on a scale from 1 to 10, 88% are satisfied with their career in the field of the supply chain.
16. The pandemic increased the demand for skilled supply chain professionals. 60% of professionals found a job in less than three months. The typical entry-level education for procurement jobs is to have a bachelor’s degree in procurement or even a related course..
17. The gender that dominates the supply chain is men. 62% of the respondents are male, 35% are female, and 3% refused to identify themselves between the two genders.
18. Supply chain professionals who hold a certificate are reported to have a median salary 16% higher than those who are not certified.
Frequently Asked Questions
1. What are procurement salary statistics?
Procurement salary statistics let you show the average annual salary of procurement and supply chain professionals.
2. Are salaries the same in each country?
No. salaries vary in each country. The salary of a procurement professional is affected by experiences, education, industry, and location.
3. Where can I benchmark salaries?
You can benchmark salaries from different websites such as Indeed, Glassdoor, CIPS, and Payscale.
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