Purchasing Manager Career Information and Job Description.Parts 4

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Purchasing Manager Job and Employment Opportunities

Through the year 2012, overall employment of purchasing managers, buyers, and purchasing agents is predicted to grow slower than the average. Increases in the services sector should offset some of the waning need for purchasing workers in the manufacturing sector. Purchases in the services sector have traditionally been made on an ad hoc basis, but firms are starting to realize the improved efficiency of centralized purchasing offices. As software continues to improve, demand for purchasing workers will continue to be limited. Such software has significantly reduced the paperwork needed to order and procure supplies; increased credit card transactions, thereby letting employees purchase supplies without using the services of the procurement or purchasing office; and allowed a growing number of purchases to be made electronically. Even with slower-than-average growth, some job openings will come from the need to fill positions left by workers who change occupations, retire, or leave the labor force for some other reason.

Expected changes in employment vary considerably by specialty. Through 2012, employment of purchasing managers is forecasted to grow more slowly than the average. Electronic commerce via the Internet has made information easier to get hold of and thereby increased purchasing managers’ productivity. The Internet has leveled the playing field in some ways, permitting both large and small firms to bid for contracts. Because of changes in the nature of contracts (specifically, exclusive supply contracts and long-term contracting), companies interact with fewer suppliers less often.

Employment of wholesale and retail buyers, except farm products, is also forecasted to grow at slower-than-average rates. Mergers and acquisitions in the retail industry have brought about the consolidation of most buying departments. Furthermore, larger retail stores are eliminating regional buying departments and relocating them at their headquarters.

Conversely, employment of purchasing agents through 2012 (except wholesale, retail, and farm products), is projected to grow about as fast as the average for all occupations. Purchases of complex equipment, which are difficult both to automate and to transact electronically, should not be significantly affected by the increasing use of electronic transactions. Employment of purchasing agents and buyers for farm products also is forecasted to grow about as fast as the average for all occupations because the ease of making purchases electronically is restricted by the need to evaluate the quality and freshness of farm products.

The best prospects for being hired as a buyer in wholesale or retail trade or within government should be enjoyed by candidates with a bachelor’s degree in business. Those interested in working for a manufacturing or industrial company will benefit from having a bachelor’s degree and industry experience and knowledge of a technical field. A master’s degree in business or public administration is usually required for top-level purchasing positions in larger companies or in government agencies.

Historical Earnings Information

In 2002, purchasing managers reported median annual earnings of $59,890. The range of annual earnings for the middle 50 percent was from $43,670 to $81,950. The earnings of the lowest 10 percent were under $32,330, while the earnings of the highest 10 percent exceeded $108,140 a year.

In 2002, purchasing agents and buyers, except in farm products, reported median annual earnings of $40,900. The range of annual earnings for the middle 50 percent was from $31,390 to $55,440. The earnings of the lowest 10 percent were under $23,850, while the earnings of the highest 10 percent exceeded $76,740 a year.

In 2002, wholesale and retail buyers, except in farm products, reported median annual earnings of $40,780. The range of annual earnings for the middle 50 percent was from $30,040 to $55,670. The earnings of the lowest 10 percent were under $23,270, while the earnings of the highest 10 percent exceeded $76,070 a year.

Successful purchasing managers, agents and buyers may make substantially more than the figures presented above.

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