How Much Do Procurement Specialists Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary procurement specialists make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for procurement specialists and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of procurement specialists are offering as compensation.
Keep reading to learn more about how much procurement specialists can expect to make in the United States.
At a Glance: Salary & Jobs for Procurement Specialists
According to data from 2023, there were about 487,157 positions for procurement specialists in the United States. In terms of salary, the national median salary for procurement specialists was reported to be $71,947. Additionally, when examining job demand, employers across the country posted 178,195 job postings related to positions for procurement specialists.
How Much Money Do Procurement Specialists Make?
Median salary is just one data point. To build a better understanding of how much money procurement specialists and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for procurement specialists.
Annual Salary for Procurement Specialists
According to the BLS, the lowest earners for procurement specialists and related professions earned about $43,680 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $121,680 annually.
As mentioned previously, the median salary for procurement specialists in the United States in 2023 was $71,947.
Annual Salary Range For Procurement Specialists In 2023
Hourly Salary for Procurement Specialists
The BLS also breaks down compensation for procurement specialists by hourly salary, and the median average hourly pay for procurement specialists in 2023 was $35. Lowest hourly earners took home $21 while the highest reported hourly salaries for procurement specialists was $59.
Hourly Salary Range For Procurement Specialists In 2023
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Degree Options for Procurement Specialists
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Advertised Compensation for Procurement Specialists
Data from the BLS is one way to dig into compensation for procurement specialists, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for procurement specialists.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Procurement Specialists
Advertised Annual Salary
During a review of 175,858 job postings related to procurement specialists, advertised salary was included in 66,470 of them, which was 38%. Based on those postings, the median advertised salary for procurement specialists was $75,136 per year.
Hourly Salary from Job Postings for Procurement Specialists
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for procurement specialists. Based on 37% of postings with advertised compensation, the median hourly salary for open positions for procurement specialists in the United States is about $36.
Salary Trend for Procurement Specialists
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for procurement specialists. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for procurement specialists dating back to September 2020, advertised salaries for procurement specialists have increased 25%.
Advertised Wage Trend For Procurement Specialists
What's the Job Growth for Procurement Specialists?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for procurement specialists over the next 10 years.
According to the data obtained through Lightcast,™ there were 486,036 jobs for procurement specialists in the United States in 2023. By 2033, it is expected that about 5,972 jobs will be removed. That's a 1.2% decrease over the next 10-year period.
Employment Projections For Procurement Specialists
Additional Links
Ready to dig deeper into career information about procurement specialists? Visit our other pages focused on salary and education for procurement specialists.
What do procurement specialists do?
Procurement Specialists: How do you become one?
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