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Procurement Salary Statistics – 50 Key Figures You Must Know
- Procurement and supply chain professionals get more recognition for their work this 2023.
- Procurement experts with higher educational attainments receive higher salary.
- Procurement and supply chain professionals are underpaid, given that their line of work ensures smooth production of goods and services.
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 50 procurement salary statistics globally and specified figures of different countries around the world you should be aware of in 2023. 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.
Procurement Salary Statistics – 50 Key Figures
1. Procurement Salaries in North America Grew by 5% in 2023
As of today, all North American procurement and supply chain professionals and experts receive an average salary of $105, 418. Procurement Directors and other procurement advanced professionals receive about $126, 000, Procurement Managers receive around $113, 000, and Procurement Specialists receive about $68, 000 annually.
Thus, according to Chartered Institute of Procurement and Supply or CIPS’s 2023 Procurement Salary Guide, the growth in procurement salaries all over North America reached up to 5% this year.
2. Average Overall Procurement Jobs Salary in the Philippines is at $2, 000 as of 2023
The estimated overall salary for a procurement job position is only at $440 or 25, 000 PHP per month which equates to only about $2, 000 or 125, 000 PHP for all procurement job positions per month.
According to Glassdoor, a procurement agent or the lowest position in the procurement industry would only receive at least $400 per month, and the most senior procurement position would only receive at least $1, 000 per month in the Philippines. The numbers have a very huge difference compared to the US’s procurement salary that reaches up to $10, 800 a month or 612, 000 PHP.
3. Average Annual Salary for Procurement Managers in Dublin, Ireland Reach Up to $110, 160
According to Morgan McKinley, the estimated annual salary for procurement managers in Dublin, Ireland ranges from $91, 800 to $110, 160. In addition, the average salary for procurement managers in Galway, Ireland ranges from $79, 560 to $110, 160. The average salary for those in Limerick ranges from $73, 440 to $140, 759. Moreover, the average salary in Ireland is expected to reach up to $160, 000 annually.
4. Procurement Salaries in the UK Reveals a 7.3% This 2023
Procurement professions in the UK increases in demand and CIPS reported a 7.3% increase in procurement salaries in 2023 from last year.
The average salary for all procurement and supply chain professionals in the UK reached up to $65, 311. To specify this figure, the pay for a procurement manager reached up to $60, 220, the pay for a procurement specialist reached up to $50, 918, and the pay for a procurement director reached up to $138, 311.
5. Average Salary for Procurement Professionals in Singapore is at $8, 550 Per Month
According to Glassdoor, the average salary for procurement professionals in Singapore reached up to $8, 550 this 2023, and the average cash bonus reaches up to $5, 000. In addition, it reveals that a procurement agent can receive up to $17, 535 every month, including all cash bonuses, compensations, and incentives.
6. Procurement Officers in the US Earns Up to $64, 300 Annually
World Salaries revealed that a procurement professional in the US can typically earn around $41, 400 to $64, 300 per year. The lowest salary one can receive will be a minimum of $1, 983 and the highest can receive will be a maximum of $5, 358. However, the salaries differ on different states of the country. North America records the highest procurement salaries of more than a hundred thousand per year.
7. Procurement Officers in China Receives Up to $32, 509
In China, the average Chinese procurement professional earns up to $21, 501 per year, with the lowest salary to be received is at $11, 188 and the highest can reach up to $32. 509 annually. If talking about how much a procurement officer earns per month, the lowest is at $932 and the highest is at $2, 709. However, World Salaries also shared that the higher number of years in procurement work experience, the higher salary procurement officers can get.
8. 72% of Procurement Professionals in Australia Received a Salary Increase in 2023
Part of CIPS’ 2023 Procurement Salary Guide reveals that there is a 7% increase in the procurement professional salaries in Australia, with 72% of them receiving it. Australian procurement professionals with higher positions receive an average of $208, 000 while regular procurement professionals receive an average of $155, 000.
Additionally, in New Zealand, the average salary for advanced procurement professionals is at $182, 000 and regular procurement professionals receive around $130, 000 with about 8.4% bonuses.
9. 65% of Hiring Managers say that Increased Salaries are Due to Inflation and Talent Shortages
According to Capterra, 65% of hiring managers reported starting salaries and wages at their organizations are higher than usual due to inflation and talent shortages, and the hiring managers say the pay for new hires is on average 9% higher. Thus, it is imperative that companies adopt and adapt to changes in the economy, especially with the unstable inflation rates coming up and down.
10. US Employers Plan a 3.5% Merit Increase in 2024
According to the August 2023 Mercer QuickPulse US Compensation Planning Survey conducted by Mercer, employers in the US plan to raise their compensation budgets by 3.5% for merit increases and 3.9% for total salary increase in 2024. However, this is a slight decline from last year’s 3.8% merit increase and 4.1% total salary increase budgets.
Furthermore, the Senior Principal of Careers at Mercer, Lauren Mason, cleared that the predicted figures reflect how the labor market performs and the low level of unemployment, and moreso adapts to how well or unwell the US economy performs.
11. Average Lowest Wage for Men is at $91, 048 and for Women is at $66, 068
CNBC revealed that according to the latest New York Federal Reserve employment survey, the average salary people would accept is at $78, 645. Additionally, when broken by gender, the average lowest wage men are willing to accept reaches up to $91, 048, while, on the other hand, the average lowest wage women are willing to accept is at $66, 068.
Moreover, the numbers reflect how strikingly different the figures are (with men having about $25, 000 more than women) and shows that the gender pay gap is not yet ultimately mitigated in the US. So, it is imperative this concern should be addressed and make solutions in order to close the said gap.
12. Number of Employed Procurement Buyers in The US Reached Up to 210, 646 in 2023
Zippia recently released their Procurement Buyer Demographics Research Summary wherein they estimated the procurement buyer demographics and statistics in the US by using a database of 30 million profiles. The career-expert brand revealed that there are around 210, 646 procurement buyers that are currently employed in the US, where 54.4% are men and 45.6% are women. In addition, the average procurement buyer is around the age of 47 and the most common ethnicity of them are Caucasian with 65.8%, followed by Hispanic and/or Latino with 12.3%, followed by African-American with 9%, and followed closely by Asian with 7.8%.
13. 2023 Zippia Demographics Show That 68% of the Global Procurement Managers are Men and 32% are Women
In a recent Zippia procurement demographics report, it is found that 68% of global procurement managers are males and 32% are females. Additionally, the most dominant race in the industry are White and/or Caucasian with 67.5%, followed by Hispanic with 12.1%. Furthermore, the average salary for a procurement manager globally is at $103, 155–with males having an average of $104, 396 and females having an average salary of $96, 872.
14. Procurement Managers with Higher Educational Attainments Receive Higher Salaries
In the same report made by Zippia, it is found that out of all the surveyed procurement managers globally, 72% have a Bachelor’s Degree, 17% have a Master’s Degree, 5% are Associates, and 3% are completed their Doctorate Degree. Moreover, those who have a Doctorate Degree receive an average of $123, 650, those who have a Master’s Degree receive an average of $126, 650, those who have a Bachelor’s Degree receive an average of $111, 335, those who have an Associate Degree receive an average of $92, 564, and those who only have a high school diploma or less receive an average of $90, 855.
15. 67% of Logistics and Supply Chain Professionals are Earning More This 2023 Than They Did in 2022
Logistics professionals have been in demand this 2023 as companies continue to focus more on improving their supply chains and all networks related to them after the global pandemic effects of supply chain shortages and constraints.
Moreover, according to the 2023 Salary Survey conducted by the Peerless Research Group, 67% of logistics professionals surveyed had their salary levels increased compared to what they were earning in 2022. Additionally, due to this 32% of them have been more engaged and productive in their work.
16. Global Supply Chain Professionals 2023 Salary Increase Up by 3%
In the US, supply chain professionals make an average of $30, 000 more per year. The Association for Supply Chain Management recently released a report, The Supply Chain Profession in 2023: Salaries and Careers Across the Globe, and found that the average salary received by supply chain professionals globally reach up to $98, 570 in 2023 which is 3% more than what they have been receiving on average last year.
17. American Logisticians Receive an Average Annual Salary of $77, 030
According to the US Bureau of Labor Statistics, the average annual salary of logisticians residing in the US reach up to $77, 030. The lowest they can receive is less than $45, 160, while, on the other hand, the highest they can receive is more than $122, 390 in total.
However, they earn lesser than supply chain managers whose responsibilities include strategizing and leading teams in more departments like inventory management, transportation, IT software, and a whole lot more.
18. Supply Chain Managers Having Higher Education Attainments Earn More
It is a no-brainer that attaining higher education means having higher pay, thus, to earn more as a supply chain manager, having at least a Bachelor’s Degree guarantees a better pay.
In a report made by Zippia, 70% of surveyed supply chain managers have a Bachelor’s Degree, 17% have a Master’s Degree, 9% have an Associate Degree, and only 2% have lower. Moreover, those with a Doctor’s Degree can receive up to $124, 654, those with a Master’s Degree can receive up to $118, 982, with a Bachelor’s Degree up to $108, 240, and an Associate Degree up to $92, 543.
19. Average Annual Pay for Procurement Analysts Globally Reaches Up to $63, 282
Based on 7 salary profiles, this 2023, PayScale presents that the average pay for global procurement analysts can reach up to $63, 282 per year with 25% of them only receive around $65, 000 and 75% of them receives around $67, 000. Annual bonuses are also recorded a little more than a thousand dollars which equates the total pay up to around $69, 000 the highest.
20. 66% of Surveyed Procurement and Supply Chain Professionals Received an Average of 6% Pay Increase this 2023
Based on the Salary Survey results for Procurement and Supply Chain Professionals in the Housebuilding Sector, 66% of the surveyed procurement and supply chain professionals received an increased salary of an average of 6% this 2023 within their company. On the other hand, 16% of them received a higher salary by switching companies.
21. Hourly Pay for A Procurement Position in The US is Averagely at $38.26
As of October 2, 2023, the average pay for a procurement position in the US is at $38.26 per hour. Additionally, the lowest one can earn is at $15.87 and the highest is at $62.02 an hour.
Thus, the numbers only suggest that there is a lot of room for an increased hourly pay in the future, especially for those with higher skill levels, higher educational attainments, higher number of years of experience, and based on which countries they are located.
22. Salary Increase in the US is Projected to Increase by 4.6% in 2023
The United States is projecting an average salary increase of 4.6% in 2023, which is above the 2022 average actual increase of 4.2%, and higher than 3.1% in 2021 and 3% in 2020.
Moreover, Willis Towers Watson or WTW revealed that tight labor markets, inflationary pressures and employee retention concerns fueled the salary increases to rates not seen in nearly two decades.
What is the Average Salary for All Procurement and the Supply Chain Professionals?
Below is the average salary of procurement and supply chain professionals in 2023.
What is the Average Salary of Procurement and The Supply Chain Professionals On An Operational Level?
The following data shows the average salary for the procurement and the supply chain for management on an operational level in 2023.
What is the Average Salary of Procurement and The Supply Chain Professionals for Management on a Professional Level?
The table below shows the average salary for the procurement and the supply chain for management on a professional level in 2023.
What is the Average Salary of Procurement and the Supply Chain Professionals for Management on an Advanced Professional Level?
The table below shows the average salary for the procurement and the supply chain for management on an advanced professional level in 2023.
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.
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:
What are procurement salary statistics?
Procurement salary statistics let you show the average annual salary of procurement and supply chain professionals.
Are salaries the same in every country?
No, salaries vary in each country. The salary of a procurement professional is affected by the experience, education, industry, and location.
Where can I benchmark salaries?
You can benchmark salaries from different websites such as Indeed, Glassdoor, CIPS, and Payscale.
About the author
My name is Marijn Overvest, I’m the founder of Procurement Tactics. I have a deep passion for procurement, and I’ve upskilled over 200 procurement teams from all over the world. When I’m not working, I love running and cycling.
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