Inventory / Purchasing Manager Salary
Earnings for Purchasing Managers in the United States come in at around $52K annually on average. With some bonuses approaching $10K and certain profit sharing proceeds approaching $6K, overall incomes of Purchasing Managers spread between $31K and $75K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by years of experience. Health benefits are not enjoyed by everyone in this line of work, and just under a fourth lack any coverage at all. Medical benefits are reported by a strong majority and dental coverage is claimed by the larger part. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. Most Purchasing Managers like their work and job satisfaction is high. The data in this summary comes from the PayScale salary survey.
|Salary||$35,933 - $78,439|
|Bonus||$125.00 - $10,026|
|Profit Sharing||$0.00 - $5,872|
|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).)
|$31,513 - $74,239|
|Hourly Rate||$12.79 - $23.88|
|Overtime||$18.90 - $34.05|
|Bonus||$125.00 - $10,026|
|Profit Sharing||$0.00 - $5,872|
|Total Pay (||$31,513 - $74,239|
Job Description for Inventory / Purchasing Manager
An inventory or purchasing manager is a supervisor that is responsible for managing the inventory for their organization. They are responsible for buying supplies, materials, and parts for the job they are tasked to complete. The purchasing they oversee may be routine, it may change frequently, or it may involve a mix of both. Depending on the employer, the inventory or purchasing manager may work with a team (in which they ensure that the inventory and purchasing needs of the company are met) or they may perform this work independently.Read More...
An inventory manager also handles the management of supplies, products, goods, materials, and parts for their company. They may work on in-house inventory monitoring and management or on a good-sold or -rented basis. They may also do a combination of both. Frequently, an inventory manager has one or more inventory clerks working for them.
Typically an inventory manager or a purchasing manager has a bachelor's degree in a field such as business, mathematics, or inventory management. Prior working experience may be substituted depending on the employer, in conjunction with an associate's degree or high school diploma (or equivalent). A purchasing manager must build good relationships with the vendors with whom they work. Additionally, they often work with a variety of internal departments, such as accounting, shipping and receiving, and credit. The purchasing manager must also have good negotiating and communication skills; organizational skills are also fundamental for an inventory/purchasing manager. (Copyright 2017 PayScale.com)
Inventory / Purchasing Manager Tasks
- Manage and direct employees involved in the buying, selling or distributions aspects of a company.
- Analyze and implement purchasing processes and delivery systems.
- Negotiate purchasing contracts and policies with respective suppliers.
Common Career Paths for Inventory / Purchasing Manager
Though not the most common occurrence, Purchasing Managers sometimes become Directors of Supply Chain Management, where the average income is $122K per year. Becoming an Operations Manager is, more often than not, the most common role that Purchasing Managers move into when they're ready for the next step in their career. The average salary for the position is $59K. Another frequent advance is for Purchasing Managers to assume an Inventory Control Manager role; in this role, workers often earn $45K.
Inventory / Purchasing Manager Job Listings
Popular Skills for Inventory / Purchasing Manager
Survey participants wield an impressively varied skill set on the job. Most notably, facility with Procurement, Project Management, and Forecasting are correlated to pay that is significantly above average, leading to increases of 82 percent, 35 percent, and 24 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Purchasing, Order Inventory, and Inventory Control. It is often found that people who know Inventory Control are also skilled in Microsoft Excel and Materials Requirement Planning (MRP).
Pay by Experience Level for Inventory / Purchasing Manager
Pay by Experience for an Inventory / Purchasing Manager has a positive trend. An entry-level Inventory / Purchasing Manager with less than 5 years of experience can expect to earn an average total compensation of $41,000 based on 247 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Inventory / Purchasing Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $49,000 based on 195 salaries. An experienced Inventory / Purchasing Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $53,000 based on 193 salaries. An Inventory / Purchasing Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $54,000 based on 109 salaries.
Pay Difference by Location
Purchasing Managers will find that Atlanta offers an impressive pay rate, one which exceeds the national average by 62 percent. Purchasing Managers can also look forward to large paychecks in cities like San Francisco (+54 percent), Tampa (+31 percent), Denver (+18 percent), and New York (+18 percent). Location is a huge contributor to overall pay, with Purchasing Managers in San Diego earning a whopping 26 percent below the national average. Employers in Seattle and Pittsburgh also lean toward paying below-median salaries (10 percent lower and 9 percent lower, respectively).
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