Sr. Strategic Sourcing Manager Salary
Salaries for Senior Strategic Sourcing Managers in the United States are generous, with average pay above six figures ($110K) per year. In the world of Senior Strategic Sourcing Managers, total cash compensation can vary between $81K and $159K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $27K and $10K, respectively. Geography is the biggest factor affecting pay for this group, followed by years of experience. In this profession, nearly all enjoy medical and dental coverage, and most have vision insurance, as well. Men make up the majority of Senior Strategic Sourcing Managers (66 percent) survey respondents. Job satisfaction is reported as high by the vast majority of workers. The data for this synopsis comes from respondents who took the PayScale salary survey.
|Salary||$79,231 - $145,975|
|Bonus||$2,936 - $26,916|
|Profit Sharing||$0.00 - $10,155|
|Total Pay (||$81,278 - $158,899|
Job Description for Sr. Strategic Sourcing Manager
Senior strategic sourcing managers create effective strategies for identifying and driving sourcing initiatives for their company. They are in charge of analyzing current and new products or services to identify new sourcing opportunities. In addition, they communicate with external partners and cross-functional teams, as well as identify possible problems and resolve them in a timely manner. One of their main tools include a personal computer to communicate with colleagues and create sourcing reports.Read More...
Senior strategic sourcing managers are responsible for conducting audits and leading cross-functional team during site audits. Their main responsibilities also include managing upgrades and improvements to the sourcing supply base, managing a group of professionals to reach all company sourcing objectives, and developing and improving sourcing strategies. In addition, they ensure high-quality solutions are achieved through competitive bidding and effective negotiations.
A bachelor's degree in business administration or a related field is required for this job. Previous experience is also generally needed, and industry and leadership certifications may be beneficial. Senior strategic sourcing managers must perform effectively by themselves, as well as in a group setting. They must have strong analytical and communication skills, as well as be proficient with basic computer programs such as the Microsoft Office suite.
Sr. Strategic Sourcing Manager Tasks
- Develop and lead implementation of sourcing strategies, procurement, and process flow throughout the organization.
- Ensure compliance to existing contracts and service levels.
- Analyze data to identify opportunities to reduce costs, negotiate and manage existing providers.
- Lead bidding process and ensure quality and cost goals are met.
- Report on actual costs, negotiation opportunities and overall strategic plan for sourcing, logistics, and return on investment (ROI).
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Popular Skills for Sr. Strategic Sourcing Manager
Senior Strategic Sourcing Managers seem to require a number of specific skills. Most notably, skills in Negotiation, Supplier Management, Contract Negotiation, and Project Management are correlated to pay that is above average. At the other end of the pay range are skills like Procurement and Sourcing. Those educated in Contract Negotiation tend to be well versed in Project Management.
Pay by Experience Level for Sr. Strategic Sourcing Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $97K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $111K. Senior Strategic Sourcing Managers who work for 10 to 20 years in their occupation tend to earn about $126K. Senior Strategic Sourcing Managers who claim more than two decades of experience actually make somewhat smaller average paychecks of $124K.
Pay Difference by Location
Surpassing the national average by 30 percent, Senior Strategic Sourcing Managers in San Jose receive some of the highest pay in the country. Senior Strategic Sourcing Managers can also look forward to large paychecks in cities like San Francisco (+25 percent), Dallas (+24 percent), Seattle (+14 percent), and Charlotte (+14 percent). One of the biggest compensable factors for Senior Strategic Sourcing Managers is geography, with workers in Columbus earning a whopping 26 percent below the national average. Employers in Pittsburgh and St. Louis also lean toward paying below-median salaries (25 percent lower and 12 percent lower, respectively).
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