Buyer, Technical Products Salary
The average Technical Products Buyer in the United States can expect to rake in roughly $62K annually. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Medical and dental benefits are awarded to nearly all, and a strong majority earn vision coverage. Men account for the majority of Technical Products Buyers who responded to the questionnaire — 62 percent to be exact. Most Technical Products Buyers report high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$45,546 - $86,414|
|Bonus||$956 - $5,493|
|Total Pay (||$41,143 - $86,012|
|Hourly Rate||$16.54 - $36.23|
|Bonus||$956 - $5,493|
|Total Pay (||$41,143 - $86,012|
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
Technical Products Buyers do not often transition into Commodity Manager roles. The role averages $83K per year. As Technical Products Buyers progress in their field, many go on to become Senior Buyers. In fact, this transition is more common than anything else, and pay for the position is usually $66K per year. Another common career choice for Technical Products Buyers is to move into a Purchasing Agent role. Typically, Purchasing Agents get paid $43K.
Popular Skills for Buyer, Technical Products
Technical Products Buyers report using a pretty varied skill set on the job. 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, Microsoft Excel, and Materials Requirement Planning. For most people, competency in Microsoft Excel indicates knowledge of Contract Negotiation and Materials Requirement Planning (MRP). Most people experienced in Negotiation also know Procurement and Materials Requirement Planning (MRP).
Pay by Experience Level for Buyer, Technical Products
Pay by Experience for a Buyer, Technical Products has a positive trend. An entry-level Buyer, Technical Products with less than 5 years of experience can expect to earn an average total compensation of $55,000 based on 45 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Buyer, Technical Products with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $65,000 based on 40 salaries. An experienced Buyer, Technical Products which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $62,000 based on 25 salaries. A Buyer, Technical Products with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $60,000 based on 11 salaries.
Pay Difference by Location
Though Technical Products Buyers can find somewhat larger paychecks in Detroit — just above the national average — location actually has a very small overall effect on compensation in this occupation. Compared to the national average, Houston Technical Products Buyers have considerably lower salaries, 20 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession.
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Key Stats for Buyer, Technical Products
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