The average salary for a Strategic Sourcing Manager with Sourcing skills in Chicago, Illinois is $91,365.
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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 l…Read more
Strategic Sourcing Manager Tasks
- Manage procurement and sourcing policies and activities, including overseeing specific contracts.
- Conduct market research, create estimates and forecasts, and identify cost reduction strategies.
- Hire, train, and manage sourcing team.
- Negotiate with suppliers and vendors for contracts for timely supplies at fair prices and in compliance with regulations.
Strategic Sourcing Manager Job Listings
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Popular Skills for Strategic Sourcing Manager
Skills in Procurement, Supplier Management and Negotiation are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis and Contract Negotiation.
Pay by Experience Level for Strategic Sourcing Manager
An early career Strategic Sourcing Manager with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $87,490 based on 6 salaries. A mid-career Strategic Sourcing Manager with 5-9 years of experience earns an average total compensation of $99,194 based on 9 salaries. An experienced Strategic Sourcing Manager with 10-19 years of experience earns an average total compensation of $101,024 based on 5 salaries.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Strategic Sourcing Manager in their job title in San Francisco, California earn an average of 31.8% more than the national average. These job titles also find higher than average salaries in Denver, Colorado (10.2% more) and Dallas, Texas (9.4% more). The lowest salaries can be found in Minneapolis, Minnesota (7.3% less) and New York, New York (1.1% less).
Years of Experience
This data is based on 20 survey responses.
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