Certified purchasing and supply chain
management professionals earn almost $15,000 more per
year than non-certified purchasing and supply management
professionals, according to Purchasing Magazine's 2004 Salary Survey. The survey reveals that certified
purchasing and supply chain management professionals
earn an average of $80,800 per year. Professionals
without certification earn an average of $66,300 per
year.
Annual salaries from this year's
respondents range from $15,000 to $270,000. Median
salaries for professionals in supply management rose 5%,
to $63,000, an increase of $3,000 over last year's
numbers. Since 1981, professionals in supply management
have seen their salaries rise 114%, with 48% of this
increase occurring within the last ten years.
Additionally, more professionals are receiving bonuses
as part of their total compensation. More than half of
the survey respondents, (55%) indicate they received
bonuses in 2004. Bonuses for these professionals
averaged just over 10% of their annual base pay.
The survey also indicates that certified
professionals have an average of four more years
experience than do non-certified professionals. This
figure corresponds directly to compensation. The typical
age of survey participants was 45.6 years of age.
Salaries for this group (41 to 50 years) averaged
$72,300 per year.
Education continues to be one of the
most important factors related to upward mobility within
the supply management profession, according to the
survey. Almost three quarters of the participants (71%)
have a college degree or a certification. Better
educated professionals receive the highest ranking
professional positions, have the most responsibilities,
work for larger companies and have a higher earning
potential.
