• Survey indicates clear growth in remuneration for procurement professionals above national average
• Demand for MCIPS professionals commanding salary premiums
• Disparity between MCIPS v non-MCIPS salaries greater between private and public sectors
• Demand for procurement and supply professional has never been higher
The Chartered Institute of Procurement & Supply (CIPS) has released its latest salary guide in partnership with recruiting experts Hays Procurement and reports that demand for MCIPS professions means higher salaries.
The CIPS/Hays Salary Guide and Procurement Insight Report 2015 benchmarks salaries and bonuses for different roles and profiles and offers insight into career paths within procurement.
The guide is divided into sections relating to salaries and bonuses, procurement as a career, and the perception of procurement’s role in organisations.
The findings revealed that in the last 12 months, the procurement profession enjoyed pay increases at 2.5% which were higher than the national average of 1.7% (Office of National Statistics, October 2014). MCIPS professionals, as members of CIPS can expect to earn up to 23% more at operational level and up to 25% at Advanced Professional level in the private sector. Average UK salary for procurement and supply professional is now £41,661 and there is a 23% (£5,000) average salary disparity for CIPS operational level members MCIPS v non-MCIPS.
Overall, 61% of procurement professionals received a pay increase in the past 12 months. Some roles have seen higher wage increases than average; at the most senior level Procurement Directors reported salary increases of 3.3%, while Assistant Buyers saw the greatest overall increase at 4.2%. Some industries saw higher salary growth, with professional and business services employees reporting 5.4% pay rises on average, compared to a private sector average of 3.4%.
David Noble, Group CEO, CIPS commented: “This report is now available to all and demonstrates that procurement and supply chain activity is responsible for around 70% of a business’s revenue. So, strong supply chain management is essential to the success of any enterprise. Attracting and retaining the right talent, rewarding and offering a range of inducements, both financial and other is a big part of that successful picture.
A copy of the report is available from www.cips.org/hays