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ISM Survey: Average Salaries for Supply Chain Professionals
May 21, 2008
According to the Institute for Supply Management's third salary survey, average salaries for supply chain professionals were:
Chief Purchasing/Supply Management/Sourcing: $128,821 Vice President, Purchasing/Supply Management/Sourcing: $210,419 Director, Purchasing/Supply Management/Sourcing: $125,833 Manager, Purchasing/Supply Management/Sourcing: $90,088 Experienced staff member (3 or more years of experience): $68,537 Entry-level staff member (less than 3 years of experience): $49,682
Additional findings: Respondents who hold one or more certifications reported an average salary that was higher than those who do not. Overall, those who hold one or more certifications earned an average of $94,648, while those who do not hold a certification earned an average of $89,927. Specifically, respondents who hold the Certified Purchasing Manager (C.P.M.) designation reported earning an average salary that was 7.4 percent higher than those who do not.
Average annual compensation of supply management professionals (which includes wages, bonuses and other income received before taxes and deductions) of the supply management professional who responded to the survey was $92,165.
The average salary for women was $78,920 and the average salary for men was $100,313. This reflects a 27 percent gap, which is an improvement over the 2006 Salary Survey when the survey reflected that men made 38 percent more than their female counterparts.
Bonuses, included in the salary figures, were earned by 59.3 percent of all respondents. On average, bonuses received were $14,874, which was representative of 11.2 percent of total gross salary received. The highest bonus reported was $226,000.
Although salary is one vital aspect of a job, job satisfaction was ranked as the most important factor in overall satisfaction of a career. Benefits package placed second, and wages came in third.