Sr. Strategic Sourcing Manager Salary
Senior Strategic Sourcing Managers enjoy a hefty income, with average pay passing six figures ($109K) annually in the United States. Cash earnings for Senior Strategic Sourcing Managers — which occasionally include more than $26K from bonuses and more than $10K from profit sharing — stretch from around $80K to approximately $158K. Geography and experience level each impact pay for this group, with the former having the largest influence. The majority of Senior Strategic Sourcing Managers (66 percent) who took the survey are men. For the most part, Senior Strategic Sourcing Managers enjoy their work and report high levels of job satisfaction. Almost all get medical and dental insurance, and a large number get vision plans, too. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
|Salary||$77,019 - $143,766|
|Bonus||$3,091 - $25,784|
|Profit Sharing||$0.00 - $10,161|
|Total Pay (||$79,866 - $157,924|
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).
Sr. Strategic Sourcing Manager Job Listings
Popular Skills for Sr. Strategic Sourcing Manager
Senior Strategic Sourcing Managers generally report applying a varied skill set to their work. Most notably, skills in Sourcing, Negotiation, Contract Negotiation, and Supplier Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Procurement. It is often found that people who know Contract Negotiation are also skilled in Project Management.
Pay by Experience Level for Sr. Strategic Sourcing Manager
Pay by Experience for a Sr. Strategic Sourcing Manager has a positive trend. An entry-level Sr. Strategic Sourcing Manager with less than 5 years of experience can expect to earn an average total compensation of $95,000 based on 25 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Sr. Strategic Sourcing Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $112,000 based on 75 salaries. An experienced Sr. Strategic Sourcing Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $126,000 based on 162 salaries. A Sr. Strategic Sourcing Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $125,000 based on 47 salaries.
Pay Difference by Location
Surpassing the national average by 40 percent, Senior Strategic Sourcing Managers in San Francisco receive some of the highest pay in the country. Senior Strategic Sourcing Managers will also find cushy salaries in San Jose (+32 percent), Dallas (+28 percent), Seattle (+16 percent), and Charlotte (+15 percent). One of the biggest compensable factors for Senior Strategic Sourcing Managers is geography, with workers in Columbus earning a whopping 25 percent below the national average. Below-median salaries also turn up in Pittsburgh and St. Louis (24 percent lower and 11 percent lower, respectively).
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Key Stats for Sr. Strategic Sourcing Manager
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