New data from the US association of supply chain management, the American Production and Inventory Control Society (APICS), gives Britons working in procurement jobs an intriguing insight into what their counterparts procurement salaries are across the Atlantic.
APICS’ first yearly Supply Chain Compensation and Career Survey Report polled 2,600 supply chain professionals, around half of whom were in associate level roles in 2017. 42% were in managerial roles and 11% were at a VP, Director or C-Suite level. Over three quarters held at least an undergraduate degree and more than half had been in procurement jobs for at least ten years.
Most of the respondents recorded salaries between $50,000 – $130,000 (£36,788 – £95,649) in 2017, with an average salary of $82,210 (£60,487). The overwhelming majority (90%) said that they had received a salary increase. While the average increase was a 3%, a fortunate 8% reported a pay raise of 10% or higher. 10% of those taking the survey said that there had been no change in their income.
Predictably, the research showed that salaries tend to climb with the number of years a professional has worked in the supply chain industry. Professionals with two years’ experience or less commanded salaries of approximately $63,000 (£46,353). Those who had gained between five to nine years’ experience earned $76,327 (£56,160), which then climbed to $103,535 (£76,177) for those who had accumulated 20 years’ experience or more.
Interestingly, procurement staff with the words “supply chain” or “operations” in their job titles tended to earn more than colleagues with the words “planner” or “buyer” in their job titles.
In terms of benefits, 97% stated that they receive Paid Time Off (PTO) options and more than half reported having flexible schedule options. In companies with 50,000 or more employees, 82% of respondents said that they had paid family leave benefits, a proportion that tumbled to just 53% for those working for firms with less than 100 staff members.
On a scale of 0 to 10, where 0 meant “not at all” and 10 meant “very satisfied”, procurement staff appear to be predominately highly satisfied, with the average score being 8.4. With all this data in mind, those working in the UK procurement recruitment industry can gain a better sense of how their salary and work benefits fit into an international average.
To find your perfect Procurement Interim position search here.