The survey is based on feedback from CIPS members and has proved that procurement and supply professionals’ salaries in purchasing continue to move ahead of equivalent posts in other sectors and also the national average.
Purchasing salaries broken down
- Buyers, senior purchasing managers and heads of purchasing who are CIPS members can earn up to £5000 more than non-members in similar roles.
- Senior and middle ranking purchasing managers are generally on higher wages than equivalents in HR, Marketing, Finance, IT and Sales and the national average.
- The pay gap between men and women has almost disappeared.
CIPS membership also adds value to purchasing salaries, as professionals with an MCIPS qualification can earn up to £5,000 more than their non-members. That’s up from £1,500 last year.
Purchasing salaries accrue at least 1% more than the national average at all levels, with senior managers earning £51,134 and directors £96,000, a year-on-year increase of 3.2% and 6.7% respectively.
Purchasing salaries in London continue to be the highest in the UK, the average being £45,000 which is 29% above the national average. However, the lowest purchasing salaries were in the West Midlands which were 13.8% below the national average.
The gender divide is closing with purchasing salaries female professionals on a par with male colleagues, up to director level.
Along with higher overall salaries, purchasing professionals are also likely to have higher bonuses, with 35% of workers received a bonus averaging £2,500, up £400.
David Noble, CEO of CIPS sums up the state of purchasing salaries:
“Once again the survey has proved the worth of CIPS membership and the financial rewards the profession brings. Good procurement teams are worth their weight in gold and salaries are rightly beginning to reflect this.
“The fact that there has been a considerable jump in salaries, especially those with MCIPS over the last year is evidence that business and other organisations are beginning to wake up and understand that when times are hard, procurement comes to the fore.
“Now that we are moving out of recession, procurement continues to add value in a variety of ways, not least to the bottom line.”
The survey was conducted between October and December 2010, and the summary is available free to members on the CIPS website or on request from the Press Office to journalists. The full report is available for £180 to anyone who participated in the study, and for £360 to CIPS members, £440 to non-members. Call 01785 813 566 to order.