Purchasing Managers: Salary, Job Description, How To Become One, and Quiz

Stan T.Career, OverviewLeave a Comment

Job description

Purchasing Managers plan, direct, or coordinate the activities of buyers, purchasing officers, and related workers involved in purchasing materials, products, and services. Includes wholesale or retail trade merchandising managers and procurement managers.

  • Represent companies in negotiating contracts and formulating policies with suppliers.
  • Develop cost reduction strategies and savings plans.
  • Develop and implement purchasing and contract management instructions, policies, and procedures.
  • Prepare bid awards requiring board approval.
Read more about what does a Purchasing Manager really do at work and what is it like being and working as one.



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Salary

Average salary
$125630 per year

Average hourly wage
$60 per hour


Purchasing Managers with little to no experience tend to make between $69860 and $90460 while the more experienced ones can earn over $149960 per year.

Top 5 paying statesHourlyAnnual
NJ$79$164,910
NY$71$147,470
CO$69$144,090
CA$68$141,400
DC$68$141,150

One of the easiest ways to increase your salary as a Purchasing Manager is to move to a higher paying state like NJ. Right now, the highest paying states for Purchasing Managers are NJ, NY, CO, CA and DC.

However, a higher pay at NJ doesn’t guarantee that you will make more because the living expenses at NJ might be twice as high than where you are currently at now.

Three other factors that can increase your salary as a Purchasing Manager is the degree you hold, the industry you work in, and lastly the company you work for.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other Purchasing Managers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by an Associate’s Degree.

Other than that, we also asked them what did they major in and here are the most popular majors that came up.

Purchasing, Procurement/Acquisitions and Contracts Management
Read more about how to become a Purchasing Manager and the degree, training and education you need.

Pros and Cons

Here are some of the pros and cons of being a Purchasing Manager.

PROS
Suitable for people who likes to start and carry out projects
Suitable for people who wants job security and a good working condition
This career is perfect for people who love to work indoors.
One of the highest paid careers in the world
CONS
Not suitable for people who likes to work with designs
It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
Demand for this career is growing very slowly
Long working hours (More than 40 hours per week)

What is the job like

Job satisfaction
73%

Is this job meaningful
49%


73% of Purchasing Managers said they were satisfied with their job and 49% said they feel like their job is making other people’s lives better.


Is this right for me

Best personality for this career
The Entrepreneurs and The Organizers

You can read more about these career personality types here.

People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..

They also like following set procedures and routines. They like working with data and details more than with ideas.




Learn more about Purchasing Managers

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Related career information

Purchasing Managers job description, Purchasing Managers salary, Purchasing Managers information, what is the job of a Purchasing Manager like, pros and cons about Purchasing Managers, colleges and universities for Purchasing Managers, is Purchasing Managers the right career for me, careers in Management

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