Buyer, Technical Products Salary
Median pay for Technical Products Buyers in the United States lies in the neighborhood of $61K annually. Location is the biggest factor affecting pay for this group, followed by years of experience. Most Technical Products Buyers report high levels of job satisfaction. Medical and dental coverage is claimed by nearly all, and a strong majority earn vision coverage. Most people who answered the questionnaire are men; 61 percent of Technical Products Buyers are male. The data for this synopsis comes from respondents who took the PayScale salary survey.
|Salary||$45,030 - $85,927|
|Bonus||$493.16 - $5,166|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$40,948 - $84,297|
|Hourly Rate||$16.54 - $36.24|
|Bonus||$493.16 - $5,166|
|Total Pay (||$40,948 - $84,297|
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
Though some Technical Products Buyers move into positions like Commodity Manager (where the average salary is $83K), this progression is not the norm. With an annual salary of $66K, Senior Buyer is the most common role for Technical Products Buyers to subsequently assume on their way up the ladder. Transitioning into a Purchasing Agent role — which usually pays $43K — is also typical for Technical Products Buyers, though less common by comparison.
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Popular Skills for Buyer, Technical Products
Technical Products Buyers seem to require a number of specific skills. Most notably, skills in SAP Materials Management, Contract Negotiation, Supply Chain, and Negotiation are correlated to pay that is above average. Skills that seem to negatively impact pay include Inventory Control, Microsoft Excel, and Procurement. Most people familiar with Negotiation also know Procurement and Materials Requirement Planning (MRP). Most people familiar with Microsoft Excel also know 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.
The average beginner in this position makes around $54K, but folks who have been around for five to 10 years see a markedly higher median salary of $65K. Technical Products Buyers who work for 10 to 20 years in their occupation tend to earn about $64K. For some reason, Technical Products Buyers with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $60K.
Pay Difference by Location
Location does not play a huge part in determining pay, but Technical Products Buyers in Detroit do earn slightly more than the national average. Houston ranks last in the field for pay, reporting salaries 20 percent below the national average.
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Key Stats for Buyer, Technical Products
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