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Strategic Sourcing Manager Salary

Strategic Sourcing Managers in the United States can expect wages of $86K annually on average. With some bonuses approaching $17K and certain profit sharing proceeds approaching $10K, overall incomes of Strategic Sourcing Managers spread between $61K and $124K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by experience level. Nearly all claim medical and dental insurance and a strong majority get vision coverage. Most Strategic Sourcing Managers like their work and job satisfaction is high. Strategic Sourcing Managers who participated in the survey are largely men, dominating at 64 percent. This snapshot results from replies to PayScale's salary survey.

$59,789 - $114,674
(Median)
$60K
$86K
$110K
MEDIAN: $86,042
10%
50%
90%

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$12.67 - $54.25
(Median)
$13
$29
$54
MEDIAN: $29.00
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
$59,789 - $114,674  
   
Bonus
$1,006 - $16,926  
Profit Sharing
$-0.49 - $9,609  
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).
)
$61,035 - $124,123  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 902
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
$12.67 - $54.25  
   
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
$1,006 - $16,926  
   
Profit Sharing
$-0.49 - $9,609  
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).
)
$61,035 - $124,123  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 11
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Job Description for Strategic Sourcing Manager

Strategic sourcing managers are responsible for directing and analyzing how a business spends money. Their ultimate goal is to make sure the business is cost effective so it maintains higher profit margins and a competitive advantage. The research that strategic sourcing managers conduct drives the purchasing decisions for the business. They are expected to rigorously locate and analyze new opportunities and developments for the business. When plans are adopted, these managers also may have to lead conversion management within their organization.

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Strategic Sourcing Manager Tasks

  • Hire, train, and manage sourcing team.
  • Negotiate with suppliers and vendors for contracts for timely supplies at fair prices and in compliance with regulations.
  • Manage procurement and sourcing policies and activities, including overseeing specific contracts.
  • Conduct market research, create estimates and forecasts, and identify cost reduction strategies.

Common Career Paths for Strategic Sourcing Manager


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Though it's uncommon, some Strategic Sourcing Managers move into roles as Directors of Strategic Sourcing, where pay is an average $134K per year. It is quite typical for Strategic Sourcing Managers to transition into roles as Senior Strategic Sourcing Managers or Global Sourcing Managers, where reported median earnings are $12K and $13K higher per year.

Strategic Sourcing Manager Job Listings

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Popular Skills for Strategic Sourcing Manager


Survey results imply that Strategic Sourcing Managers deploy a deep pool of skills on the job. Most notably, skills in Purchasing, Sourcing, Supplier Management, and Microsoft Office are correlated to pay that is above average, with boosts between 5 percent and 7 percent. Those listing Vendor Management and Data Analysis as skills, on the other hand, should be prepared for drastically lower pay. Those proficient in Procurement are, more often than not, also skilled in Negotiation. For most people, competency in Contract Negotiation indicates knowledge of Project Management, Negotiation, and Supply Chain.

Pay by Experience Level for Strategic Sourcing Manager

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


Strategic Sourcing Managers do not generally earn higher incomes from more experience in the field. Workers in their first five years can expect to earn $80K, but people who have been around for five to 10 years earn a noticeably bigger sum of $89K. Strategic Sourcing Managers who work for 10 to 20 years in their occupation tend to earn about $99K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $105K on average.

Pay Difference by Location


New York offers some of the highest pay in the country for Strategic Sourcing Managers, 12 percent above the national average. Strategic Sourcing Managers can also look forward to large paychecks in cities like San Francisco (+12 percent), Minneapolis (+11 percent), Seattle (+10 percent), and Boston (+9 percent). With compensation 16 percent below the national average, Columbus is not known for hefty paychecks and actually represents the lowest-paying market. Employers in Cincinnati and Dallas also lean toward paying below-median salaries (12 percent less).

Related Job Salaries

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Experience Affects Strategic Sourcing Manager Salaries



National Average
$91,000



Skills That Affect Strategic Sourcing Manager Salaries


Sourcing
up arrow 7%


Microsoft Office
up arrow 4%

Contract Negotiation
up arrow 3%

Procurement
up arrow 3%

Project Management
up arrow 2%

Negotiation
0%

Supply Chain
0%

National Average
$91,000

Data Analysis
up arrow 18%

Vendor Management
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 173 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
1%
1-4 years
22%
5-9 years
33%
10-19 years
31%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 88%
vision benefits Vision: 77% employee benefits None: 5%
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