Buyer, Technical Products Salary
Technical Products Buyers in the United States pull down an average of $60K per year. Location and tenure each impact pay for this group, with the former having the largest influence. For the most part, Technical Products Buyers enjoy their work and report high levels of job satisfaction. Almost all enjoy medical and dental coverage in this occupation, and a fair number get vision benefits. Male Technical Products Buyers who responded to the survey are more common than women; more than half (60 percent) are men. This overview is based on answers to PayScale's salary questionnaire.
Job Description for Buyer, Technical Products
Buyers of technical products oversee the purchase of raw materials and technical equipment necessary for effective manufacturing. After project managers outline the manufacturing processes, the buyer for the technical products must help determine the raw materials needed and begin the purchasing process. They need to understand the specifications of these materials (for instance what kind of metal used for an airframe or for I-beams in the construction process). Buyers of technical products also have to follow the production schedule so that the necessary materials are on hand when they are needed, not stored on site for months beforehand or arriving days late holding up other workers. Developing productive relationships with vendors and suppliers is important in this position; buyers must also be able to hold vendors accountable to their side of the agreements. These professionals' skills at product research and vendor relationships help contribute to reducing overall costs of manufacturing and production as well. Buyers of technical products also verify shipments and work with accounting professionals to make sure invoices are paid according to contract.Read More...
Relevant education - such as a bachelor's degree in a relevant field - is usually required for this position. Previous related experience is typically required as well. Communication skills are necessary, as clarity is essential in discussions related to needed materials and purchase orders. Skills related to setting up requests for proposals and interpreting bids are required throughout the purchasing and delivery cycle.
Buyer, Technical Products Tasks
- Identify suppliers, select merchandise and negotiate bills of sale for a business.
- Inspect deliveries for shipping errors, improper handling, or quality issues.
- Ensure that orders are delivered on time and at cost.
- Resolve billing and shipping problems and provide information to suppliers.
Common Career Paths for Buyer, Technical Products
It's not very common for Technical Products Buyers to move on to become Commodity Managers. Average pay for a Commodity Manager is $83K annually. A Senior Buyer role is the most common promotion for Technical Products Buyers moving up the ladder, and pay for the position tends to be around the $66K mark. Another typical, albeit less common, transition for Technical Products Buyers is a Purchasing Agent position, where earnings are usually $43K.
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Popular Skills for Buyer, Technical Products
Technical Products Buyers generally report applying a varied skill set to their work. Most notably, skills in SAP Materials Management, Contract Negotiation, Negotiation, and Supply Chain are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Inventory Control and Microsoft Excel. Skill sets containing Negotiation also tend to include Procurement and Materials Requirement Planning (MRP). Those proficient in Microsoft Excel are, more often than not, also skilled in Contract Negotiation and Materials Requirement Planning (MRP).
Pay by Experience Level for Buyer, Technical Products
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Workers in their first five years can expect to earn $54K, but people who have been around for five to 10 years earn a noticeably bigger sum of $64K. Technical Products Buyers bring in $65K after working for 10 to 20 years. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $60K.