14 May 2011 | Lindsay
Procurement and supply chain professionals’ salaries remain higher than
equivalent posts in other business functions.
Senior and middle-ranking purchasing managers are generally on higher
wages than equivalents in HR, marketing, finance, IT and sales - and above the
national average, according to the CIPS Salary Survey for 2011.
But overall pay was marginally lower compared with 2010, down by 0.5 per
cent at an average of £34,803.
Senior managers in procurement, who earn £51,134 on average, saw larger
than average falls - down 2.6 per cent
compared to 2010. But the rate is still better than IT, where senior
mangers earn £46,444 and finance, where the figure is £45,675.
But those at the top of the profession saw large rises, with salaries
for procurement directors increasing by 6.7 per cent to reach an average of £96,000.
Earnings in London continue to be the highest in the UK, 29 per cent above the
national average at £45,000. Professionally qualified buyers are paid £5,000
extra than those without recognition.
David Noble, CEO of CIPS said: “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.”
Also in the survey, 51 per cent of purchasing professionals reported
that they had good or excellent job satisfaction. But a third said they had no prospects
of promotion in their current organisation.
The research, conducted by CIPS and CronerReward was based on survey returns from around 1,200 CIPS