Vendor Relationship Manager Salary
|Salary||$45,164 - $108,297|
|Bonus||$1,982 - $19,986|
|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).)
|$41,968 - $113,667|
|Hourly Rate||$9.79 - $41.22|
|Bonus||$1,982 - $19,986|
|Total Pay (||$41,968 - $113,667|
Job Description for Vendor Relationship Manager
Vendor relationship manager positions are found in a wide variety of industries and businesses, ranging from financial institutions to manufacturers. Most companies maintain some form of vendor relationships that can be essential to their business, and they generally look to hire vendor relationship managers with substantial experience and knowledge of the field; in many cases, this requires experience or a background specific to the company's industry. Most positions also require that employees be able to travel, with the potential for both international and domestic trips.Read More...
Typical daily duties for vendor relationship managers include maintaining regular contact with vendors, developing and maintaining plans for all vendor activities, controlling supplier governance packages, managing cost and risk analysis, and measuring performance metrics for various vendors. Much of this work includes detailed report writing, presentations, and conferencing. Skills required for the job include negotiation skills, communication skills, strategic thinking, project management skills, and interpersonal skills. Many companies also require employees to be knowledgeable of various software suites that may be used and a background in licensing requirements.
Vendor relationship managers typically work in an indoor office environment, aside from when they travel. The job often requires substantial independent work, but contact with external vendors and internal management are regular. These professionals typically work during regular business hours, but overtime during important projects may be necessary.
Vendor Relationship Manager Tasks
- Manage the procurement of vendor services, selection of vendors, review, and contract approval.
- Manage vendor analysts and clerical staff.
- Find and negotiate pricing with external service providers.
Pay by Experience Level for Vendor Relationship Manager
Pay by Experience for a Vendor Relationship Manager has a positive trend. An entry-level Vendor Relationship Manager with less than 5 years of experience can expect to earn an average total compensation of $62,000 based on 111 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vendor Relationship Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $76,000 based on 90 salaries. An experienced Vendor Relationship Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $83,000 based on 53 salaries. A Vendor Relationship Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $79,000 based on 12 salaries.
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Key Stats for Vendor Relationship Manager
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