There’s never been a better time to work in the supply chain with wages and job satisfaction on the rise. This is according to a new report from the Association for Supply Chain Management (ASCM), which takes into account the views of over 1,7000 supply chain professionals from the United States.
The 2019 Supply Chain Salary and Career Survey Report found the median salary for supply chain pros currently stands at $80,000. This is up $78,000 from 2017. 91 percent of supply chain pros received a pay bump in 2018 and the average pay increase is up 4.2 percent.
Supply chain enablers, such as materials managers, reverse logistics managers, and supply chain managers, are taking home the largest salaries. As are those supply chain pros based in the metropolitan areas of San Francisco, New York, and Boston.
Unfortunately, there is a disparity between the number of men and women reaching senior positions. This is especially pronounced at the Manager and Director level. The wage gap between men and women is also high, especially for supply chain pros aged 40 and over. For example, the average wage for men aged 60 and over is $112,000, while women of the same age home $82,500. This is clearly an issue that the industry must deal with.
Away from pay, supply chain pros are also benefiting from numerous perks. For example, nearly all (96 percent) receive holiday pay, and 80% get over three weeks of vacation a year. Just under three-quarters (71 percent) also have paid family/medical leave.
Over half of supply chain pros (57 percent) have flexible working options. Although the vast majority (87 percent) continue to work in an office, the fact companies offer more flexible working options maybe is testament to the digitization of supply chain processes and the introduction of new technology that makes freedom and flexibility the norm for supply chain pros.
Because of all this, supply chain pros are happy. 82 percent say they’re extremely satisfied with their job and have no plans to leave the profession, which is fantastic news for the talent pool.
It'll only get better
Although things are good for supply chain pros, they can always get better. The ASCM survey doesn’t touch on the day-to-day aspects of your role and what you like and dislike. But if it did, we bet you’d complain about having to handle too much paper, being stuck performing manual processes, wrestling with outdated technology, and struggling with a lack of visibility into your supply chain. In fact, a study Ardent Partners conducted shows that these are issues for the majority of supply chain teams.
Now imagine what your career trajectory and job satisfaction could look like if you removed these issues. Imagine if you could spend less time on operational tasks and focused on more value-adding, strategic activities. How much would you love your job then?
The technology and tools that allow you to overcome these issues are out there. You just need to be brave, take that first step, and use digital transformation to put your career on a rocket ship.
Make sure you subscribe to our blog for more advice on how to digitally transform your supply chain and put your career on a rocket ship. Also, why not check out The Supply Change Podcast to find out how design thinking can benefit your supply chain.
About the AuthorFollow on Linkedin Visit Website More Content by James Hayward