Are you looking for a highly lucrative and challenging field? Or maybe you’re already a procurement professional and are changing companies. Perhaps you’re in the midst of salary negotiations with your current firm. Whatever your career situation right now, you can give yourself the upper hand by knowing the average salary of procurement professionals nationwide.
Spoiler alert: The numbers will show you’ve chosen an in-demand profession with a salary you can live comfortably on, if you live in an area with a reasonable cost-of-living.
The Average Salary of Procurement Professionals
We’ll cut to the chase: As of April 2019, the average salary of procurement professionals, nationwide, was $86,398 annually, according to ZipRecruiter. The site notes that procurement jobs listed on their site have ranged from $152,000 to $20,000.
That’s a broad span, but the majority of jobs fall into the category of $52,500 to $115,500. The highest salaries for procurement professionals can be found in New York, according to ZipRecruiter. For instance, procurement experts in West Babylon, Long Island, a suburb of New York City, make an average of $90,730 per year, 5% more than the national average.
For procurement professionals who are paid hourly, wages break down to a high of $73.08/hour and a low of $9.62/hour, with the average at $30/hour.
Indeed.com paints a similar picture, posting a national average salary of $87,390, and a range of $27,000 to $180,00. Indeed.com lists procurement professionals in New York City making an average of $100,959 per year, or 19% higher than the national average.
It’s important to keep in mind, however, that the cost of living in NYC is almost 70% higher than the national average. So if you’re looking for procurement jobs in New York, you’ll want to seek a position on the higher end of the possible salary range to keep pace with your expenses.
Elsewhere, however, it is very possible to live very comfortably on a procurement professional salary. The U.S. Department of Labor Bureau of Statistics shows that the average salary for procurement managers in 2018, $67,600, was 43% higher than the national average for all occupations.
Different Salaries for Various Jobs in Procurement
As with any career, different positions command different salaries. As you move up the rung of procurement, you’ll earn more pay.
Let’s take a look at some of the different fields in procurement and the average salaries you can expect.
Purchasing Manager – $118,940 (U.S. Dept. of Labor BLS)
Median Annual Salaries for Procurement Professionals in Various Industries*
|Management of companies and enterprises||$78,830|
*(based on Dept. of Labor BLS statistics)
Prospects for Procurement Professionals
The Department of Labor predicts that opportunities in procurement careers will experience a slight drop over the next decade. In part, this is due to new technology, including artificial intelligence, that can take over some of the less complex areas of procurement. However, because these jobs are also so plentiful, there will still be opportunities in these fields – especially for tech-savvy professionals who can work hand-in-hand with next generation software.
There will also still be great demand for those in high-touch areas of procurement, such as procurement managers and buyers.
Negotiating Your Best Salary as a Procurement Professional
Being armed with knowledge about salaries for procurement professionals in your field can help you negotiate a salary at the top of the possible range.
Since procurement experts negotiate for the best prices, service, and value-added components every day you may even have an advantage over others in your company when it comes to asking for what you’re worth. Strategically sharing data about procurement professional salaries – in your area and nationwide – can support your argument, possibly resulting in a larger paycheck.