Last year was a good year for supply chain professionals. They reported high job satisfaction, rising salaries, and benefits contributing to a healthy work and life balance, all of which contributed to strong job stability.
This is according to the 2019 Supply Chain Salary and Career Survey report, released on May 8 by the Association for Supply Chain Management, (ASCM) and APICS.
When asked to rate their overall satisfaction with working in the supply chain field on a 0-10 scale, 80% of respondents provided a rating of 8 and above. This is in comparison to a Gallup World poll, in which 85% of workers said they are displeased with their jobs.
Furthermore, an overwhelming majority (82%) said they are likely to stay working in the supply chain field for the next five years
Although there was still a gap between men’s and women’s salaries, it appears to be narrowing, especially for supply chain professionals under 40 where the difference between salaries is less than $1,000. These results challenge other industries where, according to the Bureau of Labor and Statistics, the average difference between men’s and women’s salaries was $10,000 in 2018.
“The supply chain industry offers people of all profiles and backgrounds a fast-track to career advancement, professional and personal satisfaction, and high levels of compensation,” said ASCM CEO Abe Eshkenazi. In conjunction with the report, ASCM created an interactive tool that allows members to see how changes in job title, tenure, education, certification and more can affect salary and compensation.
Additional report findings show:
- Climbing salaries: Surveyed supply chain professionals received an average base salary increase of 4.2% in 2018, up from the reported 3% pay raise in 2017. Nearly all of the respondents (91%) received an increase.
- Time off and flexibility: Nearly all respondents receive holiday pay, and 80% have three weeks or more of vacation. More than half are offered flexible schedules and can work from home if needed.
- Certifications correlate with higher income: Supply chain professionals who hold one certification reported a median salary that was 18% higher than those who are not certified. Furthermore, each additional certification earned correlates with an additional rise in salary. Supply chain professionals who hold an APICS Certified in Production and Inventory Management, Certified Supply Chain Professional or Certified in Logistics Transporation and Distribution designation reported a median salary that is 25% higher than those without a certification.
In conjunction with the report, ASCM created an interactive tool that allows members to see how changes in job title, tenure, education, certification and more can affect salary and compensation.