Inventory / Purchasing Manager Salary
Purchasing Managers in the United States can expect wages of $52K annually on average. Overall cash earnings for Purchasing Managers stretch from $32K on the lower end to $79K near the top, and the heftiest packages can encompass around $10K from bonuses and $9K from profit sharing. Geography is the biggest factor affecting pay for this group, followed by experience level. Just over one in five of professionals in this line of work do not receive benefits; however, a strong majority report medical coverage and over one-half claim dental coverage as well. Women Purchasing Managers who took the survey just slightly outnumber men. Most Purchasing Managers like their work and job satisfaction is high. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Inventory / Purchasing Manager
An inventory or purchasing manager is a supervisor that is responsible for managing the inventory for their organization. They are responsible for buying supplies, materials, and parts for the job they are tasked to complete. The purchasing they oversee may be routine, it may change frequently, or it may involve a mix of both. Depending on the employer, the inventory or purchasing manager may work with a team (in which they ensure that the inventory and purchasing needs of the company are met) or they may perform this work independently.Read More...
An inventory manager also handles the management of supplies, products, goods, materials, and parts for their company. They may work on in-house inventory monitoring and management or on a good-sold or -rented basis. They may also do a combination of both. Frequently, an inventory manager has one or more inventory clerks working for them.
Typically an inventory manager or a purchasing manager has a bachelor's degree in a field such as business, mathematics, or inventory management. Prior working experience may be substituted depending on the employer, in conjunction with an associate's degree or high school diploma (or equivalent). A purchasing manager must build good relationships with the vendors with whom they work. Additionally, they often work with a variety of internal departments, such as accounting, shipping and receiving, and credit. The purchasing manager must also have good negotiating and communication skills; organizational skills are also fundamental for an inventory/purchasing manager.
Inventory / Purchasing Manager Tasks
- Manage and direct employees involved in the buying, selling or distributions aspects of a company.
- Analyze and implement purchasing processes and delivery systems.
- Negotiate purchasing contracts and policies with respective suppliers.
Common Career Paths for Inventory / Purchasing Manager
While Purchasing Managers do not often become Directors of Supply Chain Management, the job pays $122K per year on average. As Purchasing Managers progress in their field, many go on to become Operations Managers. In fact, this transition is more common than anything else, and pay for the position is usually $59K per year. Another common career choice for Purchasing Managers is to move into an Inventory Control Manager role. Typically, Inventory Control Managers get paid $45K.
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Popular Skills for Inventory / Purchasing Manager
Purchasing Managers report using a deep pool of skills on the job. Most notably, facility with Procurement, Project Management, and Forecasting are correlated to pay that is significantly above average, leading to increases of 83 percent, 37 percent, and 25 percent, respectively. Skills that seem to negatively impact pay include Purchasing, Order Inventory, and Inventory Control. For most people, competency in Inventory Control indicates knowledge of Microsoft Excel and Materials Requirement Planning (MRP).
Pay by Experience Level for Inventory / Purchasing Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Purchasing Managers — those with more experience do not necessarily bring in higher earnings. The average worker who claims fewer than five years of experience earns around $40K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $49K. For Purchasing Managers, 10 to 20 years of experience on the job amounts to an average salary of $54K. People who have worked for more than 20 years report a median income no higher than the median for folks with 10 to 20 years of experience.
Pay Difference by Location
For Purchasing Managers, busy Atlanta offers a higher-than-average pay rate, 65 percent above the national average. Purchasing Managers can also look forward to large paychecks in cities like San Francisco (+56 percent), Tampa (+27 percent), New York (+19 percent), and Denver (+17 percent). One of the biggest compensable factors for Purchasing Managers is geography, with workers in San Diego earning a whopping 25 percent below the national average. Employers also pay below the national average in St. Louis (16 percent lower) and Pittsburgh (8 percent lower).
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