Junior Buyer Salary
Job Description for Junior Buyer
Junior buyers are responsible for administrative and financial related tasks for their organization. They manage different aspects of supplier products, inspecting quality and arranging shipping costs. They also coordinate company purchases with other departments and authorize use of resources. Junior buyers must maintain accurate records of current and prospect suppliers and their performance, and so they need to possess strong data entry skills.Read More...
One of the junior buyer's main responsibilities is managing physical and digital purchasing records. Junior buyers work to obtain quotes and find specific requirements for their organization's needs. They negotiate pricing, as well as other conditions with vendors to ensure the best pricing and profit margin for their organization. Junior buyers work hard to remove costs and consolidate supplier requirements, and they must provide constant support to management executives. They also must follow current market trends related to materials and prices. They follow strict purchasing policies and procedures, as well as expedite orders and track deliveries to ensure company satisfaction. One of the junior buyer's main tools include a personal computer to create daily purchasing requisitions and reports, as well as send documents and orders for approval.
Junior buyers must be excellent team players and also work well independently. They must possess strong communication skills, as they report and deliver status reports to the supervisor or president in their department. These buyers must have strong analytical abilities and work well under pressure. A bachelor's degree in business, supply chain, commerce or related field is needed for this position. In addition, relevant business certifications are a plus.
Junior Buyer Tasks
- Assist buyers and managers with writing purchase orders, buying merchandise, and managing inventory.
- Research suppliers to determine which ones fit company pricing and quality objectives.
- Advise retail outlets how to price products based on purchase price and market trends.
Common Career Paths for Junior Buyer
Junior Buyers who transition into a Senior Buyer role may receive large pay increases as the latter position pays an average $66K per year. Junior Buyers most often move into positions as Buyers or Industrial Components Buyers; those groups report median salaries that are $6K higher and $6K higher, respectively.
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Popular Skills for Junior Buyer
Survey results imply that Junior Buyers put a diverse skill set to use. Most notably, skills in Purchasing, Data Analysis, Materials Requirement Planning, and Microsoft Excel are correlated to pay that is above average. Those listing Data Entry as a skill should be prepared for drastically lower pay. Order Inventory and Negotiation also typically command lower compensation. The majority of those who know Microsoft Excel also know Data Analysis.
Pay by Experience Level for Junior Buyer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Junior Buyers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Workers with less than five years' experience earn around $40K on average, and those who have five to 10 years under their belts see a higher median salary of $41K. Junior Buyers with one to two decades of relevant experience report an average salary of approximately $42K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Junior Buyer with more than 20 years of experience can earn $47K on average.
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Key Stats for Junior Buyer
Rated 4 out of 5
based on 19 votes.