The Institute for Supply Management’s 15th annual Salary Survey revealed a positive outlook for supply management professionals. The survey was conducted between mid-January and mid-February 2020.
The findings revealed that the average annual salary of supply management practitioners increased by 3.3% to $123,226 in 2019. Eighty-seven percent of the respondents reported an increase in their base salary, with an average increase of 5.5%.
The average salary of those with a Certified Professional in Supply Management (CPSM) status rose by 5.4% to $125,996, while those with Certified Professional in Supplier Diversity (CPSD) increased by 3.9% to $130,441. When it comes to bonuses, 66% had a bonus increase, with an average bonus of $25,179 equivalent to 20.4% of average base salary.
In terms of industry, supply management practitioners in the mining sector had the highest average salaries at more than $177,000. This is followed by those in the art, entertainment and recreation at around $155,000 and those in the petroleum and coal products sectors with around $150,000. The survey also found a 22.6% gender pay gap.