According to the recent Croner Rewards and CIPS salary survey, CIPS members are still coming out on top, by proving that procurement and supply professionals’ salaries continue to move ahead of equivalent posts in other sectors and the also the national average.
Membership also adds value to salaries, as purchasing professionals with an MCIPS qualification can earn up to £5,000 more than their non-members. The gender divide is also closing with female earnings on a par with male colleagues, up to director level.
However, higher pay means longer hours, 43% of professionals in the public sector work 41 – 45 hours a week. Junior professionals have the longest hours with 53% working up to 50 hours.
Job satisfaction rates very highly among purchasing professionals, 51% reported a good or excellent level and 94% felt secure in their jobs and that they had good promotion prospects.
David Noble, CEO of CIPS said, “Once again the survey has proved the worth of CIPS membership and the financial rewards the profession brings. 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.”