Sr. Merchandise Planner Salary
|Salary||$53,107 - $109,579|
|Bonus||$0.00 - $15,456|
|Total Pay (||$52,799 - $121,737|
Job Description for Sr. Merchandise Planner
Senior merchandise planner positions are commonly available at retail stores, especially larger stores with large product volume. Many open positions do not require a specific educational background, although some do require or prefer a bachelor’s degree; at least three to five years of experience as an associate buyer, merchandise planner, or in some form of inventory control is needed as well. In addition, many companies require proficiency with basic computer programs, strong analytical and organizational skills, and excellent communication skills.Read More...
The position is based around monitoring product levels and identifying problems and opportunities related to the products being carried at the store. This involves creating regular reports on performance measures, as well as developing tools such as action plans to ensure continuous growth. Senior merchandise planners work with external product vendors and internal management to ensure that all demands are met and all plans are feasible. They work with various other departments as well, such as with advertising teams to ensure that advertised products are in stock at each location. This work also requires communication with ground-level employees who are responsible for physically maintaining the grounds.
The physical requirements for this job are limited, with only sedentary tasks such as extended periods of computer usage required. The work is generally indoors in a store or office environment. Hours may vary widely from company to company, but it is not uncommon to work during regular business hours.
Sr. Merchandise Planner Tasks
- Analyze sales, returns, and inventory to identify financial strategies and provide reports and metrics.
- Plan merchandise display and promotions from pre-season through every season, including pricing decisions.
- Create and implement financial plans for sales, inventory, profit margin, and returns.
- Develop markdown and sales strategies based on analytics.
Pay by Experience Level for Sr. Merchandise Planner
Pay by Experience for a Sr. Merchandise Planner has a positive trend. An entry-level Sr. Merchandise Planner with less than 5 years of experience can expect to earn an average total compensation of $78,000 based on 21 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Sr. Merchandise Planner with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $89,000 based on 29 salaries. An experienced Sr. Merchandise Planner which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $89,000 based on 20 salaries. A Sr. Merchandise Planner with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $85,000 based on 11 salaries.
Related Job Salaries
Key Stats for Sr. Merchandise Planner
Rated 4 out of 5
based on 8 votes.