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Supply Chain Industry Updates

Contributing to ‘Something Bigger’ — and Getting Rewarded for It

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This year brought a new public awareness of the importance of supply chains. Indeed, a recent survey of more than 2,400 U.S. supply chain professionals claims they find their chosen field to be “rewarding, with high salaries and job satisfaction.”

According to the Association for Supply Chain Management (ASCM), 88 percent of respondents had a positive outlook on their careers, and 85 percent would recommend their profession to people in other industries.

“The role of the supply chain professional has evolved into a strategic imperative essential for every aspect of a company’s operations to provide the goods and services needed for the economy to thrive,” said ASCM CEO Abe Eshkenazi, CSCP, CPA, CAE. “While supply chain professionals have always known their work was contributing to something bigger than themselves, consumers are now more keenly aware of the direct impact supply chain has on their daily lives.”

Among the ASCM’s findings:

  • Supply chain professionals with a bachelor’s degree reported a median salary of $78,750, which was 24 percent higher than the national median salary. Yearly pay raises averaged 4.7 percent, which is higher than the national average pay raise of 3.5 percent.
  • The gender pay gap is narrowing, particularly for young professionals. The study found that for the second year in a row, respondents below the age of 30 reported the same median salary regardless of gender.

ASCM found that leadership skills such as critical thinking and the ability to communicate/collaborate with others are as important as technical skills. “These transferable skills span industries and, when combined with the right training and professional development, can enhance a supply chain career,” Eshkenazi said. More on this topic can be found here.

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