Sr. Strategic Sourcing Manager Salary
Senior Strategic Sourcing Managers in the United States take home an average $108K annually. Total incomes of Senior Strategic Sourcing Managers incorporate potential for, in a few cases, more than $26K from bonuses and close to $10K from profit sharing; these performance components cause packages to range between $80K and $157K. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Senior Strategic Sourcing Managers who participated in the survey are largely men, dominating at 67 percent. Most Senior Strategic Sourcing Managers like their work and job satisfaction is high. Nearly all claim medical and dental insurance and most get vision coverage. The numbers in this rundown were provided by PayScale's salary survey participants.
|Salary||$76,042 - $139,409|
|Bonus||$2,643 - $25,803|
|Profit Sharing||$0.00 - $10,271|
|Total Pay (||$78,751 - $156,056|
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. (Copyright 2017 PayScale.com)
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 report using a diverse set of skills on the job. Most notably, skills in Sourcing, Negotiation, Contract Negotiation, and Supplier Management are correlated to pay that is above average. At the other end of the pay range are skills like Procurement. Those educated in Contract Negotiation tend to be well versed 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
Home to some of the best pay for Senior Strategic Sourcing Managers, San Francisco offers exceptional salaries, 40 percent above the national average. Senior Strategic Sourcing Managers can also look forward to large paychecks in cities like San Jose (+33 percent), Dallas (+29 percent), Seattle (+16 percent), and Charlotte (+16 percent). Senior Strategic Sourcing Managers in Columbus earn salaries far below the national average by 25 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Employers pay around 23 percent less in Pittsburgh and 10 percent less in St. Louis, below-median salaries for those in this field.
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Key Stats for Sr. Strategic Sourcing Manager
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