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More than 700 purchasing professionals took part in Global Purchasing’s 2015 Salary Survey results for purchasing professionals. Most buyers expecting a 2% pay increase in 2015, yielding an average annual compensation of about $80,000. The general professional outlook is good, as the majority of purchasing professionals say they are satisfied with their compensation level and that they would recommend purchasing as a career opportunity. The results are slightly lower than last year’s survey, when buyers reported an average annual compensation of $85,000 and an anticipated 2.4% raise, but still point to a largely satisfied lot of electronic component buyers.
“The purchasing profession has evolved into one of the more complex and potentially rewarding high-tech careers today,” said one respondent. “It can require a plethora of skills, including the ability to navigate potential pitfalls such as counterfeits, obsolescence, allocations, and excess. Ultimately, the successful purchasing professional will reap the rewards of their diligence and knowledge by steering their company and their own career toward a clear and promising direction.”
Purchasing professionals say the IoT is shaping their profession in two key ways: first, by demanding broader product knowledge as they are required to source an even wider variety of parts and solutions, and second, by the potential to streamline the profession with more efficient tools and processes.
“[The IoT] is expanding the number of applications that contain electronic components,” said one respondent, adding that it is also “increasing buyers’ knowledge as they continue to shop for the best deal.”
For others, the IoT is one more in a long line of technological changes that keeps purchasing professionals on their toes.
Global Purchasing’s 2015 Salary & Profile Survey polled more than 700 purchasing professionals over the summer, asking about compensation, workplace, and general economic trends. Download the full report , and visit our resources page for a look at the 2014 survey.