Supply chain salaries top $100K for first time

Supply chain salaries continue to increase in the United States, rising 4% year-over-year according to new research released this morning by the Association for Supply Chain Management (ASCM).

Salaries in 2023 increased 4% to reach an average of $103,000 annually in total compensation, including a base salary of $95,000, besting last year’s $98,570 in total compensation. It is the first time the average supply chain salary has surpassed the $100,000 mark. Top performers—those in the 90th percentile—are pulling down $161,000 in base compensation and $201,000 in total compensation.

Additional compensation includes cash bonus (64%), profit sharing (13%), incentive pay (8%), overtime pay (8%), and other cash compensation (7%).

 

Click here to download ASCM's annual salary report

ASCM found that salaries across the board increased, regardless of experience levels. Those with 20 years or more saw their compensation increase from $120,000 a year ago to $126,000 in the latest report. Those with more than 10 years of experience also saw a jump, from $100,200 to $105,000.

Education matters

For professionals with a degree, the report, “The Supply Chain Profession in 2024: Salaries and Careers Across the Globe,” found they earned an average of $25,000 more than the national average, regardless of the specific degree type.

ASCM said those with one of its certifications saw additional compensation, enjoying a median salary of 10% higher than a non-credentialed colleague, and 17% more for those with two or more certifications.

Certifications pushed the median salary to $94,100 versus $85,000 without. Those in the 75th percentile saw that number grow to $120,000 compared to $110,000 for those without certification.

The survey was fielded from Jan. 23, 2024, through Feb. 19, 2024. Respondents were asked to report their answers based on their position and salary for the period between Oct. 15, 2022 and Oct. 15, 2023. There were 5,435 usable global responses. Margin for error is +/- 1.6% ASCM said.

Global highlights

The full report breaks down responses across the globe. It can be downloaded by clicking here.

In Canada, the median supply chain salary sits at $87,075, with top earners in the 90th percentile taking home $163,958. Twenty-nine percent saw their compensation increase by 10% or more, while 43% saw an increase of between 3% and 5.9%.

The story was similar in Europe, with median salaries sitting at €66,240 and top earnings at €148,500. Pay increases were similar to that of Canada, with 26% reporting an increase of 15% or more, and 23% reporting an increase between 9% and 14.9%. In all, 81% saw raises of 5% or more.

Other highlights

Of note from the survey was that 70% of respondents globally indicated their salary increases haven’t kept pace with inflation. That number was 77% in Canada, 66% in Europe and 70% in the U.S.

With that said, though, 49% of respondents had a positive or very positive outlook on the job market and another 42% help a neutral sentiment.

In terms of technologies being utilized, 52% said machine learning topped the list, followed by cloud computing services (50%), robotics (47%), additive manufacturing (32%) and AI chatbots (22%).

ASCM also found that 85% take pride in their work and 58% said they felt appreciated by their organizations.

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