24 April 2008
Senior procurement managers have seen their salaries balloon over the past 12 months.
Heads of function and senior buyers are now paid more than their peers in marketing, sales, HR, IT and finance.
The latest survey from CIPS and Croner Reward shows senior procurement managers' basic annual pay is now £48,000, an increase of 10.3 per cent on last year. This figure is above pay for peers in comparable professions, and around £7,000 a year higher than HR and marketing senior managers.
Heads of purchasing functions are on average earning a basic salary of £63,000, up 5 per cent over the past 12 months. Middle managers' average remuneration rose 2.9 per cent to £36,000.
Junior managers fared the worst with a rise of only 0.4 per cent, to £28,100, on last year.
More junior buyers saw greater increases, with senior clerical staff earning £19,000, up 6.2 per cent, and assistant managers earning £23,467 on average, a rise of 6.7 per cent. Buyers also said they were happy with their pay - 69 per cent felt it was the going rate for the job, 21 per cent thought it was above it, and only 7 per cent said it was below.
But the news from the survey was not all good with the pay gap between male and female buyers widening. For procurement directors the average female annual salary is £60,000, a whopping 25 per cent below the male figure of £80,000.
The private sector continues to offer more than the public sector across all levels apart from assistant manager. Within the private sector, service sector managers can expect to earn between 5 and 8 per cent more than manufacturing counterparts.
Private sector buyers also worked longer hours. While the length of the working week rose for all buyers, 59 per cent of those in the private sector now work over 41 hours a week compared with 35 per cent of the public sector.
CIPS members earn more than non-members. Depending on the level, the membership premium can earn buyers between £2,000 and £12,000 a year.
The research also showed large regional variations, with average pay for purchasing professionals in London at £43,800; 41 per cent higher than the national average. The north-east of England average is £27,000, 13 per cent below the national average.
See Croner Reward
for the full survey.