How much do procurement professionals earn?

With procurement teams increasingly playing a pivotal role in business strategy, how much are their average salaries increasing?

The CIPS Procurement Salary Guide 2023 is reporting increases in salaries in procurement across all continents.

Growth in procurement salaries 

  • North America - Up 5%
  • UK - Up 7.3%
  • Aus and NZ - Up 7.2%
  • South Africa - Up 6.6%
  • MENA - Up 14%
  • Sub-Saharan Africa - Up 10.1%
  • Europe -  Up 10.1%

What is the CIPS Procurement Salary Guide?

The CIPS Salary Guide is now in it's 9th year and sponsored by Hays. It is the result of an independent global survey of over 5000 professionals and is a well established tool for procurement professionals and employers.

It helps to benchmark salaries, identify career aspirations and plan future talent strategies. 

“Year after year the reputation of our profession is rising within organisations and across business. Our skills are valued and our sense of the contribution we make to our organisations and economies is increasing,” said CEO of CIPS Nick Welby.  

“Salaries and bonuses awarded at all levels of the profession continue to rise and are again outstripping those across the wider economy. The most highly qualified in our profession – individuals who have achieved MCIPS – are commanding significantly higher salaries than their non-MCIPS colleagues and are increasingly sought after across all sectors.”

Key takeaways North America 

  • 47% Say market volatility is the main challenge for organisations over the coming year
  • 70% Believe the perception of procurement has improved in the past 12 months
  • 64% Have received a pay rise in the last 12 months
  • 84% Of respondents are eligible for a bonus
  • 76% Of employers have struggled to find the right talent

Average Salaries North America 

  • Advanced Professional - $125,504
  • Professional - $113,304
  • Managerial - $99,998
  • Operational - $67,764
  • Tactical - $59,934

“Right now, businesses are offering higher than-average compensation for some roles to secure new employees, but remember that salary isn’t everything. It’s about the big picture, which includes having a clear understanding of why potential new hires want to work with you, and what will make them stay,” said Scott Dance, UK&I Procurement Engagement Director, Hays.

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For more insights into Procurement & Supply Chain - check out the latest edition of Procurement Magazine and be sure to follow us on LinkedIn & Twitter

Other magazines that may be of interest - Supply Chain Magazine | Sustainability Magazine

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