Senior Buyer, Retail Salary
With a little under three-quarters of Senior Retail Buyers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Senior Retail Buyers is $83K annually and can range from $48K on the lower end to $117K per year near the higher end. Career length is the biggest factor affecting pay for this group, followed by geography. More than half of Senior Retail Buyers (67 percent) survey participants are women. A strong majority enjoy medical while slightly more than half get dental coverage. Vision coverage is also available to a majority. Most Senior Retail Buyers like their work and job satisfaction is high. This report is based on answers to PayScale's salary questionnaire.
|Salary||$57,193 - $111,977|
|Bonus||$-0.50 - $29,799|
|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).)
|$48,448 - $116,573|
Job Description for Senior Buyer, Retail
Retail stores have a limited space for storage and displays related to the items they carry. This may be especially relevant for department stores and clothing retailers, where there are regular seasonal and style changes that need to be made. The senior retail buyer makes decisions about what items the retail store will buy to sell in its own floor space.The buyer must be aware not only of market trends throughout the industry, but his or her store's brand as well. The buyer typically consults market research data, and they may work with branding managers to ensure that all new merchandise fits with the store and its customers.Read More...
Retail buyers may also be used to assess brand strategy. They must be aware of which items are selling better than others and tailor purchasing strategy based on this data. Additionally, the senior buyer must maintain relations with vendors and wholesalers, as well as make sure the store gets prompt service to replenish stock in a timely manner.
To work as a senior retail buyer, a person typically must have some schooling after high school, such as a bachelor's degree in business or fashion design. Additionally, practical experience as an assistant or associate buyer in retail is often required, as the senior-level position is at a managerial level. Senior retail buyers typically split time working in an office, in a retail space, and in frequent job-related travel. (Copyright 2017 PayScale.com)
Senior Buyer, Retail Tasks
- Evaluate existing products and customers and seek new merchandise, and negotiate for the best price and quality.
- Request and evaluate bids, contextualizing products in line with overall brand.
- Assess and evaluate industry trends and sales, and provide analytics and forecasts to support decisions.
- Define requirements and timing for new merchandise purchasing and distribution.
Senior Buyer, Retail Job Listings
Pay by Experience Level for Senior Buyer, Retail
Pay by Experience for a Senior Buyer, Retail has a positive trend. An entry-level Senior Buyer, Retail with less than 5 years of experience can expect to earn an average total compensation of $54,000 based on 48 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Buyer, Retail with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 16 salaries. An experienced Senior Buyer, Retail which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $79,000 based on 22 salaries. A Senior Buyer, Retail with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $82,000 based on 14 salaries.
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Key Stats for Senior Buyer, Retail
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