Education

How Much Do Supply Chain Major Make

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 3 minute read

With the right combination of abilities and personality attributes for project management, a supply chain management degree might be the beginning of your career in the corporate world.

Supply chain management degrees may lead to a variety of careers in which you are responsible for ensuring that firms have the goods they need to operate efficiently. Many of these jobs pay much above the national average, with some paying six figures or more.

Positions for Supply Chain Managers

With a bachelor’s degree in supply chain management, you’re likely to land a high-paying job in the field. There are a variety of job titles for supply chain managers, including Supply Chain Vice President, Consumer Sector Vice President, and Supply Chain Director.

The word “global” may be added to the job title of the most senior supply chain managers in companies with a worldwide presence. Material Requirements Planning Manager or Solution Design and Analysis Manager are examples of more specialized job titles that supply chain managers may hold, although they are not the norm.

The median yearly compensation for supply chain managers is $105,610 as a group. Supply chain managers make up the majority, with 2/3 having earned a bachelor’s degree, 19% having earned a master’s, and 10% having pursued some sort of post-baccalaureate credential like the Graduate Certificate in Optimization and Supply Chain Management. 

There are an estimated 992,000 supply chain managers in the United States, according to data from the Bureau of Labor Statistics. The federal government is the largest employer of supply chain managers, with 12% of those employed in this field working for the government.

Supply chain management degrees can also lead to positions of leadership such as operations manager, which can earn you a six-figure income in some sectors.

Logistics Jobs

A degree in logistics complements a degree in supply chain management. After all, you are learning to manage the logistics of the supply chain system, not necessarily people or projects, in this college educational program.

Logisticians are business specialists that assess their organization’s whole supply chain throughout the product’s life cycle. According to the US Bureau of Labor Statistics, the total median compensation for logisticians is $74,590. (BLS).

The federal government is the highest-paid industry for logisticians, employing 20% of the workforce and paying a median compensation of $84,200.

Working your way up from a logistics position might lead to a position as a logistics manager in a general retail shop, the chemical manufacturing business, or the professional, scientific, and technical services industry. Logistics managers and storage and distribution managers both make $92,460 on average.

Although the occupation is only increasing at the average rate for other occupations, the BLS predicts that 10,300 new logistician positions will be created over the next decade.

Purchaser Positions

Where does a business receive the raw materials it needs in the first place? Manufacturers or distributors must supply them. Buying supplies is a full-time job for companies that need a lot of materials, such as manufacturing, wholesale commerce, and retail trade (or multiple full-time jobs).

Buyers or purchasing agents are the business experts in charge of procuring business goods. Meeting with suppliers and negotiating contracts is an essential part of their duties, since they must ensure that their company receives the greatest price on the products it requires.

According to the Bureau of Labor Statistics (BLS), buyers and purchasing agents make an average of $62,120 a year. To become a buying manager, you’ll likely need at least five years of experience in procurement, either as a buyer or a purchasing agent. The average salary for purchasing managers is $115,760.

Although only 73,900 of the 503,200 jobs in this industry are held by purchasing managers, the BLS classifies these positions as a single profession because of the similarities in their responsibilities.

The federal government, which employs just 8% of buying agents, buyers, and purchasing managers, pays the highest median compensation of $88,600. The management of firms and enterprises industry, which employs one out of every ten buyers and buying managers and earns a median income of $77,740, comes in second.

23% of buying agents and managers who work in manufacturing earn an average salary of $67,000. 15 percent of workers in the wholesale trade and retail trade industries are paid a median compensation of $59,540, while just nine percent of buying agents in same businesses get a median wage of $50,800 each year.

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