Procurement Manager Salary

Procurement Managers who are practiced in their profession and carry more than 10 years of experience make up slightly more than half of Procurement Managers. Pay fluctuates from $46K to $130K per year, but expected earnings average $78K annually. In the world of Procurement Managers, total cash compensation can vary between $46K and $130K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $20K and $16K, respectively. While tenure and geographic location impact pay for this group, the specific employer is the most influential factor. Most report receiving medical coverage from their employers and a large number collect dental insurance. The majority of Procurement Managers (62 percent) survey respondents are male. Most workers in this position report high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$47,901 - $120,658
(Median)
$48K
$78K
$120K
MEDIAN: $78,314
10%
50%
90%

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$15.09 - $47.17
(Median)
$15
$23
$47
MEDIAN: $22.00
10%
50%
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$50K$100K$150K
Salary
$47,901 - $120,658  
   
Bonus
$0.00 - $19,521  
Profit Sharing
$195.74 - $15,514  
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).
)
$45,913 - $129,539  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,523
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$25$50$75
Hourly Rate
$15.09 - $47.17  
   
Overtime
$21.24 - $57.94  
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$50K$100K$150K
Bonus
$0.00 - $19,521  
   
Profit Sharing
$195.74 - $15,514  
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).
)
$45,913 - $129,539  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 99
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Job Description for Procurement Manager

A procurement manager is the primary point of contact between a business and its suppliers. Using superb analytical skills, a procurement manager identifies potential suppliers, screens them, and negotiates favorable payment terms with selected suppliers. After formalizing the supply contract with the aid of legal professionals, the procurement manager then monitors supplier performance to ensure contractual obligations are met and to help make the supply procurement process as cost-effective and efficient as possible.

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Procurement Manager Tasks

  • Prepare and process purchase orders and purchase requisitions, and maintain documentation of the acquisition of goods.
  • Manage staff and vendors for timely arrival of products and goods.
  • Manage flow of goods and supplies for optimum production, analyzing and adapting internal policies.
  • Negotiate contracts, policies and deadlines with suppliers and vendors.
  • Monitor prices by product and vendor to predict and account for financial fluctuations.

Common Career Paths for Procurement Manager


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There are some Procurement Managers — though it's uncommon — that transition into Directors of Supply Chain Management, where earnings are an average $120K annually. It is quite typical for Procurement Managers to transition into roles as Procurement Directors or Senior Strategic Sourcing Managers, where reported median earnings are $31K and $23K higher per year.

Procurement Manager Job Listings

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Popular Employer Salaries for Procurement Manager


Although the highest salaries can be found at The Boeing Company where median pay is $115K, there is little variation in compensation; paychecks are spread only between $105K and $130K.

Popular Skills for Procurement Manager


Survey results imply that Procurement Managers put a diverse skill set to use. Most notably, skills in Contract Negotiation, Contract Management, Negotiation, and Supply Chain are correlated to pay that is above average, with boosts between 7 percent and 13 percent. Those listing Purchasing as a skill should be prepared for drastically lower pay. Data Analysis and Inventory Management also typically command lower compensation. Most people familiar with Procurement also know Negotiation and Contract Management. Those familiar with Contract Negotiation also tend to know Contract Management.

Pay by Experience Level for Procurement Manager

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


Experience seems to be a major factor in determining the incomes of Procurement Managers. The average beginner in this position makes around $62K, but folks who have been around for five to 10 years see a markedly higher median salary of $78K. Procurement Managers with one to two decades of relevant experience report an average salary of approximately $93K. Procurement Managers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $100K.

Pay Difference by Location


Procurement Managers will find that Houston offers an impressive pay rate, one which exceeds the national average by 30 percent. Procurement Managers can also look forward to large paychecks in cities like Los Angeles (+20 percent), Washington (+19 percent), Seattle (+18 percent), and Chicago (+14 percent). Trailing the national average by 14 percent, Philadelphia is the market with the smallest paychecks. Below-median salaries also turn up in Pittsburgh and Charlotte (11 percent lower and 8 percent lower, respectively).

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Experience Affects Procurement Manager Salaries



National Average
$80,000



Skills That Affect Procurement Manager Salaries






Procurement
up arrow 1%

National Average
$80,000


Data Analysis
up arrow 16%

Purchasing
up arrow 24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 284 votes.

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
1%
1-4 years
19%
5-9 years
27%
10-19 years
33%
20 years or more
20%

Common Health Benefits

medical benefits Medical: 90% dental benefits Dental: 81%
vision benefits Vision: 67% employee benefits None: 8%
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