The Supply Chain Matters blog provides highlights of the ASCM Supply Chain Professional 2024 Salaries and Careers Global Report released this week.

Reinforcing last year’s survey trending, the 2024 data indicates that supply chain professionals continue to benefit from strong demand coupled with what are depicted as significant salary increases and increased job satisfaction levels.

Background

Supply Chain Matters readers are likely aware of the widely followed salary and career survey that has been conducted annually by the Association for Supply Chain Management Professionals (ASCM). The 2024 report represents the 7th consecutive year.

Reportedly over 5,000 respondents from North America and Europe participated in this year’s survey which was conducted during February.

The summarized data generated by this survey is often helpful for global-wide supply chain management professionals in assessing their skills needs and career development within the various areas that now umbrella our profession.

During this same time period last year and a number of prior years, we have provided summary highlights and our view of the key findings from this survey. Readers can access our summary and highlights from the 2023 report, along with prior years of ASCM and other noted talent surveys by clicking on the search term: Supply Chain Talent Management in our Categories Menu appearing on the right-hand panel.

 

Survey Highlights and Key Findings

The latest ASCM 2024 Supply Chain Salary and Career Report found that supply chain professionals continue to benefit from a solid job market, which was reflected in another year of significant salary increases. Building on the momentum from the 2023 report, respondents reportedly indicated that their salaries increased an average of 8 percent.

Some specific key findings of this year’s report included:

Compensation Levels

The median total compensation for U.S. based supply chain professionals reportedly has reached a major milestone, hitting a record-breaking $103,000, which reflects the 50th percentile. That number includes an average base of $95,000, with an average additional compensation of $8,000. The 2024 total compensation median compares to $98,570 reported in the 2023 survey.

By range, the lowest 10th percentile was noted as $61,000, and the highest 90th percentile reflected an average of $201,000 in total compensation.

Regarding additional compensation, 64 percent reportedly came from cash bonuses and 13 percent was categorized as profit sharing. Additionally noted was that U.S. professionals holding some form of supply chain certification status reportedly earned a median salary 18 percent higher than non-certified colleagues.

Supply chain professionals holding formal academic degrees reported a salary premium of $25,000.

Supply chain professionals in Europe reportedly also benefited from higher compensation, with the median base salary noted as €60,720 when combined with a median cash bonus of € 5,520. In the 2023 survey, median salary was noted as €62,686 and median cash bonus of €5,640. We suspect that this difference may likely relate to the rather difficult and challenging economic environment for European based manufacturers and service providers in 2023 and the first half of this year.

The detailed report provides salary ranges by specific job title. Further included are salaries by gender and years of experience, with a narrative that diversity, equity and inclusion (DEI) compensation equity in the supply chain area has reflected a discouraging trend of late. Reportedly, salary gaps among professionals with less than four years of experience have expanded. Black professionals reportedly reported slight decreases in average salary in the 2024 survey data.

Reported Job Satisfaction

According to the latest ASCM survey data, supply chain professionals once again indicated high levels of job satisfaction. Reportedly upwards of 60 percent of respondents rated job satisfaction as 8 or higher, on a 10-point scale.

Further reported was that 85 percent of respondents indicated taking pride in their work, and 81 percent indicated they plan to remain in the supply chain field for at least the next five years.

Job market optimism was reflected by 49 percent of respondents indicating either a very positive or positive outlook in supply chain job market demand. That compares to a reported 51 percent indicating either a neutral, negative or very negative outlook. We believe that there is something more to this data and trust that ASCM researchers may be able to dive a bit deeper regarding this sentiment. We suspect this may have something to do with generative AI and artificial intelligence impacts on jobs, but that needs to be probed.

Supply Chain Matters found as added interest the data related to work-life balance which was an indicator that the global work week for supply chain professionals “leans toward balance with roughly 72% averaging 35-45 hours. Regional variations emerge, with 30% of Americans reporting 45-plus hours compared to 14% of Canadians and 17% of Europeans.

It seems that Canadians and Europeans take work-life balance seriously.

Key Required Skills for Supply Chain Professionals

We also wanted to draw Supply Chain Matters reader attention to page 42 of this year’s report which is titled Key Skills for Supply Chain Management Professionals. Outlined are indications of the top technologies being utilized along with the top emotional skills.

That latter category pointed to critical thinking, collaboration, problem-solving, judgement and relationship building  skills as top of mind for supply chain job performance.

 

Added Perspectives

This latest ASCM compensation and job satisfaction survey data is obviously positive for supply chain management and associated business leaders.

The data reinforces that supply chain capabilities and skills are indeed more positively perceived by businesses and that various roles and career paths in supply chain management are now being perceived as rewarding, despite the continued level of daily and weekly challenges.

For individual readers, and for those not directly involved in supply chain management related jobs and careers, take the time to review all of the provided data. The complete 2024 report can be accessed from this ASCM website link.

We believe it will provide helpful guidance on individual skill preparation and career planning for the many roles involved in supply chain management.

 

Bob Ferrari

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