ISM salary survey comes to similar conclusions
in the NewsBehind KION Group’s acquisition of Dematic UniCarriers Americas executives partner with Roosevelt University Brexit impact yet to be measured by U.S. logistics managers Rail carload and intermodal volumes fall for the week ending June 18, reports AAR BTS reports U.S.-NAFTA trade falls 3.2 percent in April More News
The Institute for Supply Management (ISM) released its 2014 Salary Survey that revealed a decrease in salary for the average professional, and the fact that compensation was the most important factor for job candidates evaluating job opportunities in the supply chain industry.
ISM’s Ninth Annual Salary Survey finds that the average base compensation for all participating supply management professionals was $101,608 in U.S. dollars, a decrease of 2 percent compared to the average for 2012 ($103,793).
Some to the findings mirror those gathered by The Peerless Research Group which said median earnings remain in line with those posted last year, indicating that veteran logistics managers should not expect the same pay incentives.
A majority of respondents (62 percent) still received a bonus in 2013 (down from 68 percent in 2012). The median bonus was $8,300, up 4 percent from 2012. The study showed that total compensation package that includes bonuses and stock options significantly increases pay.
Meanwhile “Amount of Pay” emerged as the most important feature of a new position for supply chain related job candidates, followed by “Likely Job Satisfaction,” then “Prospect of Improved Work/Life Balance” and “Benefits Package Offered.”
“Overall it was a year where employers appeared to be careful in managing their expenses and many organizations may have cut back on salaries and bonuses,” said ISM Director of Research Paul Lee. “However we do not feel this will have an adverse effect on salaries moving forward as there are signs that supply management remains an industry where competition for the top talent remains fierce.”
Other findings included:
▪ Respondents who held ISM’s CPSM certification earned $103,415 on average in 2013, compared to $96,655 for those who lacked any designation.
▪ Forty-five percent of respondents indicated that they moved into supply chain from another field. Most left their former profession after eight or fewer years in that other field.
ISM research said that supply management professionals working in the field for 15 or more years can expect to earn 56 percent more than those with four or fewer years of experience.
About the AuthorPatrick Burnson Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
WMS Update: What do we need to run a WMS? Supply Chain Software Convergence: Synchronization Realized View More From this Issue