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Procurement Manager Salary by Location: A Global Breakdown
Eliza Taylor 21 September 2024Explore this blog on Procurement Manager Salary to understand how location and industry impact earnings in this essential role. In the UK, the estimated total salary for a Procurement Manager is around £72,000 per year. Discover how these figures differ globally and what factors influence these earnings. Your journey begins here!
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Table of Contents
Related Courses
- Procurement Training & Certification Course
- CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Course
- CIPS Level 4 Diploma in Procurement and Supply Training
- CIPS Level 5 Advanced Diploma in Procurement and Supply Course
- CIPS Level 6 Professional Diploma in Procurement and Supply Course
Have you ever paused to consider why a Procurement Manager Salary in London might differ from that of a Procurement Manager in New York or Mumbai? The world of procurement is not just about numbers; it’s a complex landscape influenced by local economies, industry demands, and the cost of living.
To fully understand how the Procurement Manager Salary varies, it’s essential to consider the factors that influence these differences. With this in mind, are you ready to uncover the lucrative world of Procurement Manager salaries in the United Kingdom (UK), United States of America (USA), and India? Let’s dive in!
Table of Contents
1) Procurement Manager Salary Based on Location
a) Procurement Manager Salary in the UK
b) Procurement Manager Salary in the USA
c) Procurement Manager Salary in India
2) Top Companies Hiring Procurement Manager
3) Conclusion
Procurement Manager Salary Based on Location
The pay for a Procurement Manager may differ greatly depending on the location. Let's explore how various regions impact the potential income in this specific industry.
Procurement Manager Salary in the UK
The salary of a Procurement Manager in the United Kingdom varies based on several factors. This includes experience, location, and the particular responsibilities of the role. Here’s a breakdown of the typical annual salaries:
Source: Glassdoor
1) Highest Salary
a) The maximum annual salary for a Procurement Manager in the UK is £72,000.
b)This figure represents the top end of the salary range. It is typically achieved by professionals with extensive experience and advanced skills.
c) These high salaries are often found in high-demand industries or large corporations.
2) Average Salary
a) The average annual gross salary for a Procurement Manager is £57,000.
b) This amount is calculated by averaging salaries across various levels of experience and industries.
c) It provides a general idea of what a typical Procurement Manager might earn.
3) Lowest Salary
a) The minimum annual salary for a Procurement Manager is £45,000.
b) This figure represents entry-level positions or roles in smaller companies.
c) It is typical of less demanding industries and indicates the starting point for those new to the field.
Procurement Manager Salary in the USA
The salary of a Procurement Manager in the United States of America varies based on experience, location, and the particular responsibilities of the role. Here’s a breakdown of the typical annual salaries:
Source: Glassdoor
1) Highest Salary
a) Represents the maximum annual salary for Procurement Managers, which is $190,000.
b) Typically achieved by professionals with extensive experience and advanced skills.
2) Average Salary
a) The mean annual salary for Procurement Managers is calculated by averaging salaries across various experience levels and industries.
b) The average salary for Procurement Manager is $146,000.
3) Lowest Salary
a) Indicates the minimum annual salary for Procurement Managers, which is $113,000.
b) Usually associated with entry-level positions or roles in smaller companies or less demanding industries.
Procurement Manager Salary in India
The salary of a Procurement Manager in India varies based on experience, location, and the particular responsibilities of the role. Here’s a breakdown of the typical annual salaries:
Source: Glassdoor
1) Highest Salary
a) The maximum annual salary is ₹2,000,000.
b) Typically earned by professionals with extensive experience and advanced skills.
2) Average Salary
a) The average annual salary is ₹1,000,000.
b) Calculated by averaging salaries across various experience levels and industries.
3) Lowest Salary
a) The minimum annual salary is ₹875,000.
b) Usually associated with entry-level positions or roles in smaller companies or less demanding industries.
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Top Companies Hiring Procurement Manager
Here are some top companies currently hiring Procurement Managers in the UK:
1) Hargreaves Lansdown:
Hargreaves Lansdown provides investment services, including ISAs, SIPPs, and fund and share accounts. They offer tools and information to help clients manage their savings, investments, and pensions.
2) AWE (Atomic Weapons Establishment):
AWE provides and maintains the warheads for the UK’s nuclear deterrent. They offer scientific support, certification, and modelling of warheads without testing, among other services.
3) CB Heating Ltd:
Specialises in plumbing, heating, and air-conditioning installations. They provide heating solutions, including heat pumps.
4) MSA Safety:
Develops, manufactures, and supplies safety products, including self-contained breathing apparatus, gas detection systems, and industrial head protection products.
5) Orchard Community Trust:
Provides educational services, focusing on elementary and secondary schools.
6) R W Armstrong:
Provides Construction Management, design, development, planning, supervision, and Project Management services.
7) AIS Utilities Ltd:
Provides utility connection solutions, including power, gas, and water connections. They offer a full turnkey solution for utility needs.
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Conclusion
Mastering the Procurement Manager Salary landscape is your key to unlocking greater earnings and career growth. By exploring new locations, aiming for top companies, and adopting smart strategies, you can reach elite income levels and excel in Procurement Management. Start taking steps towards financial success today!
Join our CIPS Courses to master procurement skills and transform your career in supply chain management!
Frequently Asked Questions
How Can I Grow My Career in Procurement?
To grow your career in procurement, focus on continuous learning, network with industry professionals, seek certifications, gain experience in diverse roles, and stay updated on market trends and best practices.
What are the Seven Stages of Procurement?
The seven stages of procurement are:
a) Identifying needs
b) Supplier research
c) Request For Proposals (RFP)
d) Evaluation and selection
e) Contract negotiation
f) Purchase order issuance
g) Performance review and feedback
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The Knowledge Academy offers various CIPS Courses, including CIPS Level 2 Certificate In Procurement and Supply Operations Course, CIPS Level 3 Advanced Certificate In Procurement and Supply Operations Course and CIPS Level 4 Diploma In Procurement and Supply Training. These courses cater to different skill levels, providing comprehensive insights into Cash Flow Forecast.
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