11 April 2002 | David Arminas
Pay for purchasing directors has increased dramatically in the past 10 years, rising by 123 per cent, according to a ground-breaking survey from CIPS and analysts The Reward Group.
Only engineering has seen an equivalent rise, according to the survey, the first to track purchasing salaries over a decade.
A purchasing director makes £63,827, on average. Only an IT director is likely to earn more, at £77,000.
A senior purchasing manager gets £47,000, slightly less than the £50,000 for their finance equivalent, but more than IT, HR, sales and marketing.
Mike Campbell, director of business development at CIPS, believes salaries now reflect the real worth of purchasing to a company's bottom line.
"The head of purchasing now is more likely to be a director and better understand what it does for a company," he said.
Purchasing's impact on the company's bottom line was also more quantified now, he said.
Pay rises in 2001 were on average 4 per cent for all categories, slightly above the average for all management functions. But a quarter of purchasers had a rise of more than 5 per cent.
The survey, which includes information from almost 3,000 individuals in 1,200 organisations, also highlighted aspects of purchasing's work culture.
Women are paid an average of 4 per cent less than men for the same job, no worse than for other professions. The gap is not an issue any more, said Heather Wood, chief executive of managed services provider Optimoss.
"Women basically get paid the same as men," she told SM, "but if a man or woman takes time off for any reason, they generally get paid less than those who didn't interrupt their careers."
The average private-sector director works up to 60 hours a week, and senior managers put in between 46 and 50 hours.
Public-sector directors are less likely to work the long hours.
Good or excellent job satisfaction was reported by 60 per cent of respondents but almost a third had no promotion prospects in their current organisation.
The pay-rise forecast for 2002 is around 3.5 per cent overall, but senior and junior staff can expect as much as 4.5 per cent.