Now for those of you not familiar with the term here is the explaination: Black Friday is the day after Thanksgiving that marks the traditional start of retail's holiday season, it earned its name as the date on which stores are viewed as moving into the black for the year. Retailers come up with lot of offers, Sales etc to attract buyers and people traditionally start Christmas shopping on this day. The term "Black Friday" originated in Philadelphia in reference to the heavy traffic on that day.
Well this article, though, is not about Black Friday but about the salaries of Purchasing Professionals. (Yes!! you guessed it right, you can do shopping for a living!!!:-)
Although its not exactly called shopping but Purchasing and the people working in this field are called Purchasing Professionals. A particular example is of a purchasing manager who manages all purchasing functions. Receives and grants approval for purchase of goods or services. Analyzes changes or new issues in materials and supply to reduce costs and improve quality. Typically requires a bachelor's degree with at least 5-8 years of experience. Also manages a staff and reports to top management. Negotiation skills, in general, are pretty important for any purchasing professional.
Now to the salaries: Companies are paying top dollar to purchasing professionals who can impact the business, even in a challenging economy. According to Purchasing's 28th annual salary survey (published in purchasing.com), compensation for purchasing professionals in 2008 rose on average 4%. That's a little more than the average for most other workers. Not only the salaries but even the bonuses that purchasing professionals receive have increased from 13% of their salary to 14% of salary for more than 60% of survey respondents. And although recruiters and other compensation experts who specialize in placing purchasing pros say companies plan to keep pay increases steady next year, the job outlook for purchasers is bright and there is plenty of opportunity for raises in 2009. In fact, Purchasing professionals earn more than their colleagues in related fields. For example, Average annual salary for design engineers is $86,194, according to results of a survey by Design News magazine, whereas Average annual compensation—salary plus bonus—for purchasing professionals in 2008 is $88,206. Among the highest earners this year are respondents with responsibility for managing categories of indirect spending, logistics and some commodities such as chemicals and metals.
Well this article, though, is not about Black Friday but about the salaries of Purchasing Professionals. (Yes!! you guessed it right, you can do shopping for a living!!!:-)
Although its not exactly called shopping but Purchasing and the people working in this field are called Purchasing Professionals. A particular example is of a purchasing manager who manages all purchasing functions. Receives and grants approval for purchase of goods or services. Analyzes changes or new issues in materials and supply to reduce costs and improve quality. Typically requires a bachelor's degree with at least 5-8 years of experience. Also manages a staff and reports to top management. Negotiation skills, in general, are pretty important for any purchasing professional.
Now to the salaries: Companies are paying top dollar to purchasing professionals who can impact the business, even in a challenging economy. According to Purchasing's 28th annual salary survey (published in purchasing.com), compensation for purchasing professionals in 2008 rose on average 4%. That's a little more than the average for most other workers. Not only the salaries but even the bonuses that purchasing professionals receive have increased from 13% of their salary to 14% of salary for more than 60% of survey respondents. And although recruiters and other compensation experts who specialize in placing purchasing pros say companies plan to keep pay increases steady next year, the job outlook for purchasers is bright and there is plenty of opportunity for raises in 2009. In fact, Purchasing professionals earn more than their colleagues in related fields. For example, Average annual salary for design engineers is $86,194, according to results of a survey by Design News magazine, whereas Average annual compensation—salary plus bonus—for purchasing professionals in 2008 is $88,206. Among the highest earners this year are respondents with responsibility for managing categories of indirect spending, logistics and some commodities such as chemicals and metals.
PIC: shopping bags. turn your good bargaining skills into a career!Purchasers responsible for indirect spending such as travel were reported to have the highest average salary of about US$101,962. Next comes purchasing professional responsible for buying chemicals, who had an average salary of US$96,713 and third were purchasers responsible for buying metals who took comparatively lower salary of about US$90,468. But the respondent who took the highest salary among all purchasing professionals was responsible for buying metal in his organization and has a whopping salary of US$800,000!!
Below are the salaries of these professionals according to cities in USAFirst, the cities which reported the highest average salaries were:
Milwaukee, WI: US$800,000
Pembroke, MA: US$500,000
St. Paul, MN: US$400,000
Garland, TX: US$350,000
Attleboro, MA: US$325,000
Warren, MI: US$300,000
Minneapolis, MN: US$300,000
Morristown, NJ: US$288,000
Spokane, WA: US$277,000
Irvine, CA: US$275,000
Next, the cities with lowest average salaries(Beware 0f these!!);-)
Russellville, AR: US$30,000
San Diego, CA: US$30,000
Melbourne, FL: US$29,500
Augusta, GA: US$29,304
Scottdale, PA: US$24,000The complete survey results can be found @www.purchasing.com. which also gives details about bonuses offered, salary according to one's education level and more. So in a nut shell, improve your negotiation skills, it might make you rich!:-)
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