The average pay rise for procurement professionals over the last year was higher than that for other UK professions, according to the 2018 CIPS/Hays Procurement Salary Guide and Insights report.
More than 4,000 procurement professionals from a range of sectors and job levels took part in the survey, which found the average procurement professional salary increase was 5.1%.
This is compared to a national salary increase across other professions of 2.2%.
The procurement figure compares to 5.3% in the 2017 report and 5% in the 2016 one.
The average salary for all procurement and supply professionals in 2018 is £46,422.
Speaking at the launch event for the report, hosted by PA Consulting, CIPS interim group CEO Gerry Walsh said the above average pay rise reflected procurement’s growing importance to the business.
“This shows the value with which procurement professionals are regarded and the increasing importance [of the function],” he said.
The Salary Guide found that regional salaries are catching up with London, due in part to some blue chip organisations moving functions out of the capital, and that there is a salary value attached to being CIPS qualified, with MCIPS professionals earning 12% more than their non-qualified peers.
It also revealed a “startling” gender pay gap, said Scott Dance, procurement engagement director at Hays.
According to the survey, male professionals earn significantly more than women, particularly at senior level. The gap at advanced professional level is 33% overall, rising to 43% in the private sector. This has increased from 2017, when it was 25% at advanced professional level.
“Companies really have to look at how they align their businesses and embrace diversity and inclusion,” said Dance.
He added that recently implemented gender pay gap regulations, which require employers with more than 250 members of staff to publish data on the difference between pay for men and women, should hopefully “level the playing field and bring more transparency”.
Walsh said there was no excuse for such a wide disparity. “Gender pay gap reporting will help but it’s not a silver bullet,” he said. “There is a lot more than needs to be done. It’s hard to see how that gap could be justified.”
Supply Management will be covering the full Salary Guide in depth in the May issue, out on 4 May. You can also request a copy of the full report from Hays.