how much does a supply chain manager make a year?
goodellauthorHow Much Does a Supply Chain Manager Make Per Year?
The supply chain manager plays a crucial role in the efficient operation of any organization. They are responsible for managing the entire supply chain, from procurement and inventory management to logistics and customer relationship management. As a result, supply chain managers are often well-compensated for their expertise and expertise. In this article, we will explore how much supply chain managers make per year and the factors that affect their salary.
Factors That Affect Supply Chain Manager Salary
1. Industry and Company Size: The industry and company size can have a significant impact on the salary of a supply chain manager. For example, in the healthcare industry, supply chain managers can earn an average of $110,000 per year, while in the technology sector, they can earn up to $150,000 per year. Additionally, larger companies may offer higher salaries due to their resources and ability to invest in talent.
2. Experience and Certification: Supply chain managers with more experience and certifications typically earn higher salaries. According to the Bureau of Labor Statistics, supply chain managers with 10 or more years of experience can earn an average of $135,000 per year. Furthermore, holding professional certifications such as the Certified Supply Chain Professional (CSCP) or the Certified in Logistics, Procurement (CPLP) can significantly increase salary potential.
3. Geographic Location: The location of an organization can also impact the salary of a supply chain manager. In urban areas with high costs of living, supply chain managers can command higher salaries. In other regions, they may have to settle for lower wages.
4. Company Size: Supply chain managers at large organizations may earn higher salaries than those at small or medium-sized companies. This is because large companies have the resources and budget to offer competitive salaries and benefits.
5. Industry Specific: Some industries, such as healthcare, technology, and oil and gas, typically offer higher salaries for supply chain managers due to the complexity and importance of their role.
Supply Chain Manager Salary by Location
According to the Bureau of Labor Statistics, the average salary for a supply chain manager in the United States is $107,990 per year, or $51.98 per hour. However, salaries can vary significantly depending on the location. For example, supply chain managers in the following locations can expect to earn higher salaries:
1. New York, New York: $135,000 per year
2. San Francisco, California: $130,000 per year
3. Washington, District of Columbia: $120,000 per year
4. Boston, Massachusetts: $120,000 per year
5. Chicago, Illinois: $115,000 per year
The salary of a supply chain manager can vary significantly based on various factors, such as industry, company size, experience, certification, and location. However, even in a competitive job market, a supply chain manager with the right mix of skills and experience can expect to earn a well-deserved salary that reflects their value to the organization. As the importance of supply chain management continues to grow, so too will the demand for skilled supply chain managers, providing a promising future for those in the field.