05 July 2007 | Paul Snell
Senior buyers now earn more than their peers in other professions.
For the first time, those at the top of the procurement sector have a higher average salary than colleagues in IT, finance, HR, marketing and sales.
According to the CIPS/Croner Reward Purchasing and Supply R£wards 2007
survey, purchasing directors receive an average of £76,000 a year. Senior managers can also expect to receive an annual average salary of £60,000.
Directors earn nearly £10,000 more than in 2006 and senior managers earn almost £4,000 more. This indicates a rise of more than 14 per cent for directors. Pay for all levels of the profession has risen by more than 11 per cent compared with last year.
Middle management salaries also continued to outrank their peers', with an average pay of £43,500 per year. Salaries for buyers beginning their careers also increased, but while they remain higher than those in HR and marketing, their counterparts in sales and IT can expect to earn more. Average pay for junior managers was £28,000, around £800 more than the average wage across all functions.
The survey also found the pay gap between male and female buyers had halved in the past year. Salaries for female buyers are now from 2 to 7 per cent lower than males, compared with 14 per cent last year. There was hardly any difference in pay for men and women in lower management.
The gap between public and private sector pay was marked, with the service sector paying almost £8,000 more than the public sector for middle and senior management roles. CIPS members were also found to earn between £1,000 and £5,000 more than non-members in a similar role.
Michael Campbell, business development director at CIPS, said: "This is a continuing upward trend in procurement salaries reflecting both the increasing demand for purchasing talent and the growing recognition that the role of professional procurement is a major contributor to organisational success."
The number of hours buyers work, however, is also on the rise, with over half working more than 40 a week. Some 38 per cent say they are required to work outside normal working hours.
Vivienne Copeland, director at Croner Reward, told SM
: "Working longer hours may lead to better pay. Purchasing is now being recognised for the contribution it is making."
The CIPS/Croner Reward study surveyed 3,347 professionals across the functions, including 1,300 CIPS members.
For more information about the survey visit www.cips.org
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