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Strategic Sourcing Manager Salary

The average Strategic Sourcing Manager in the United States earns approximately $85K per year. In the world of Strategic Sourcing Managers, overall cash allowance can occasionally include more than $16K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $59K and $122K. Location and tenure each impact pay for this group, with the former having the largest influence. Men account for the majority of Strategic Sourcing Managers who responded to the questionnaire — 64 percent to be exact. Almost all report receiving medical and dental coverage from their employers and a fair number collect vision insurance. Most Strategic Sourcing Managers report high levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.
$57,915 - $112,301
(Median)
$58K
$85K
$110K
MEDIAN: $84,945
10%
50%
90%

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$12.67 - $44.38
(Median)
$13
$26
$44
MEDIAN: $26.00
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
$57,915 - $112,301  
   
Bonus
$992 - $16,148  
Profit Sharing
$306.39 - $10,161  
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).
)
$58,764 - $122,389  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 843
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 - $44.38  
   
Overtime
$15.75 - $48.50  
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
$992 - $16,148  
   
Profit Sharing
$306.39 - $10,161  
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).
)
$58,764 - $122,389  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 11
United States (change)

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.

Strategic Sourcing Manager Job Listings

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Popular Skills for Strategic Sourcing Manager


Survey results imply that Strategic Sourcing Managers deploy a substantial tool kit of skills at work. Most notably, skills in Sourcing, Supplier Management, Microsoft Office, and Purchasing are correlated to pay that is above average, with boosts between 7 percent and 10 percent. Vendor Management and Data Analysis as skills, however, tend to be associated with significantly smaller paychecks. The majority of those who know Procurement also know Negotiation. For most people, competency in Contract Negotiation indicates knowledge of Project Management, Supply Chain, and Negotiation.

Pay by Experience Level for Strategic Sourcing Manager

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


Strategic Sourcing Managers with a lot of experience do not necessarily enjoy more money. Although individuals who have less than five years' experience earn $77K on average, people with five to 10 years benefit from a notably larger average of $88K. Strategic Sourcing Managers who work for 10 to 20 years in their occupation tend to earn about $99K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $103K.

Pay Difference by Location


Boston is home to an above-average pay rate for Strategic Sourcing Managers, 15 percent higher than the national average. Strategic Sourcing Managers will also find cushy salaries in San Francisco (+14 percent), Seattle (+13 percent), Los Angeles (+12 percent), and New York (+8 percent). The lowest-paying market is Cincinnati, which sits 35 percent below the national average, proving that location is a significant contributor to overall pay. Employers also pay below the national average in Columbus (16 percent lower) and Dallas (12 percent lower).

Related Job Salaries

Experience Affects Strategic Sourcing Manager Salaries



National Average
$89,000



Skills That Affect Strategic Sourcing Manager Salaries

Sourcing
up arrow 10%




Procurement
up arrow 4%

Contract Negotiation
up arrow 3%

Negotiation
up arrow 1%

Project Management
up arrow 1%

Supply Chain
0%

National Average
$89,000

Data Analysis
up arrow 15%

Vendor Management
up arrow 30%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 190 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
1%
1-4 years
23%
5-9 years
30%
10-19 years
33%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 93% dental benefits Dental: 88%
vision benefits Vision: 75% employee benefits None: 6%