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Inventory Manager Salary

The average Inventory Manager in the United States earns approximately $51K per year. In the world of Inventory Managers, overall income ranges from $27K near the bottom to $80K at the top; this can include more than $10K from bonuses and more than $7K from profit sharing in exceptional cases. Geographic location and tenure each impact pay for this group, with the former having the largest influence. Inventory Managers who participated in the survey are largely men, dominating at 63 percent. Job satisfaction is high and work is enjoyable for most Inventory Managers. Unfortunately, some people in this line of work are without benefits — close to a fifth lack coverage. On the flip side, a fair number have medical insurance and more than half receive dental plans. The numbers in this rundown were provided by PayScale's salary survey participants.
$31,725 - $79,799
(Median)
32K
38K
51K
65K
80K
MEDIAN: $50,703
10%
25%
50%
75%
90%

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$10.08 - $20.44
(Median)
10
12
14
17
20
MEDIAN: $14.00
10%
25%
50%
75%
90%

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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$27K$54K$81K
Salary
$31,725 - $79,799  
   
Bonus
$0.00 - $9,756  
Profit Sharing
$201.34 - $7,047  
Commission
$500 - $19,000  
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).
)
$26,594 - $79,748  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 883
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$10.08 - $20.44  
   
Overtime
$14.58 - $31.40  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $9,756  
   
Commission
$500 - $19,000  
Profit Sharing
$201.34 - $7,047  
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).
)
$26,594 - $79,748  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 354
United States (change)

Job Description for Inventory Manager

An inventory manager controls the inventory of materials or goods for a company. This includes keeping accurate account of all inventory on hand, as well as ordering additional inventory to meet the needs of the business. The inventory manager decides whether a product needs to have additional stock in the warehouse or if it can be ordered on an as-needed basis. The inventory manager is also responsible for hiring and managing inventory clerks to assist them.

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Inventory Manager Tasks

  • Maintain accurate inventory counts throughout.
  • Act as a liaison between departments and buyers and determine obsolete stock while optimizing inventory turnover.
  • Implement and execute an inventory replenishment system ensuring proper levels of stock.

Common Career Paths for Inventory Manager


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Inventory Managers who transition into an upper level Business Manager of Logistics role may receive a large increase in pay as the position pays an average $61K per year. It is not uncommon for an Inventory Manager to continue on to become an Inventory Control Manager or an Purchasing Manager.

Inventory Control Manager Job Listings

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Popular Skills for Inventory Manager


Inventory Managers generally report applying a varied skill set to their work. Most notably, skills in Materials Requirement Planning, Operations Management, Microsoft Excel, and Inventory Management are correlated to pay that is above average. At the other end of the pay range are skills like Order Inventory and Inventory Control. Those familiar with Inventory Control also tend to know Microsoft Excel.

Pay by Experience Level for Inventory Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Inventory Managers generally obtain higher compensation for more plentiful past experience. Workers in their first five years can expect to earn $38K, but people who have been around for five to 10 years earn a noticeably bigger sum of $49K. Inventory Managers see a median salary of $55K after reaching one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $61K.

Pay Difference by Location


For those looking to make money, Inventory Managers in Columbus enjoy an exceptional pay rate, 38 percent above the national average. Inventory Managers will also find cushy salaries in Chicago (+36 percent), Dallas (+36 percent), Houston (+34 percent), and Cleveland (+32 percent). Location is a huge contributor to overall pay, with Inventory Managers in San Antonio earning a whopping 28 percent below the national average. Below-median salaries also turn up in Seattle and Portland (13 percent lower and 11 percent lower, respectively).

Inventory Manager Reviews

What is it like working as an Inventory Manager?

Inventory Manager in Denver:
"Inventory Manager."
Pros: Learning new things.
Cons: No set system. Disorganized.

Related Job Salaries

Experience Affects Inventory Manager Salaries




National Average
$44,000


Skills That Affect Inventory Manager Salaries


Operations Management
up arrow 3%

Microsoft Excel
up arrow 2%

National Average
$44,000

Inventory Management
up arrow 2%

Purchasing
up arrow 3%



Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 285 votes.

Gender

Female
37 %
Male
63 %

Years of Experience

Less than 1 year
3%
1-4 years
37%
5-9 years
29%
10-19 years
21%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 77% dental benefits Dental: 64%
vision benefits Vision: 48% employee benefits None: 20%