The Supply Chain Matters blog provides highlights of the ASCM 2023 Salary and Career Report released this week which depicts responses depicting high job satisfaction and compensation levels. In the area of increasing Diversity, Equity and Inclusion, the responses indicate some narrowing of gaps but added efforts needed.
Supply Chain Matters readers may be familiar with the widely followed Annual Salary and Career Survey conducted by the Association for Supply Chain Management (ASCM). The summarized data generated by this survey can be very helpful in career planning and assessing the value of roles and careers in supply chain management roles across various industry settings.
This week, ASCM released the results of the 2023 annual survey which was conducted from January through February of this year. The stated takeaway summary of the most recent survey is that career satisfaction remains high in our profession, with indications that upwards of 96 respondents indicate a desire to stay in the supply chain management area.
Some specific key findings from the 2023 survey included:
- The median income of supply chain management professionals within the United States is $98,570 (base and additional compensation), an increase od 3 percent from that stated in the 2022 survey. Reportedly, salary levels range between $62,962 to $192,000. The median cash bonus was indicated as $8,000.
- Supply chain professionals within Europe were noted to have a median salary of €62,686 and a median cash bonus of €5,640. Total compensation was reported to be a range from €38,308 to €148,285.
- A reported 82 percent of supply chain professionals take pride in the work they perform.
- In the area of Diversity, Equity and Inclusion, the pay gap between people of color and white workers was noted as narrowing to 4 percent, from 14 percent. The median salary for Hispanic workers was noted as statistically the same as that of white workers.
- Regarding the battle for supply chain talent, a reported 27 percent of respondents reported securing new employment with supply chain professionals in the 30-39 age group accounting for 42 percent of job switchers. U.S. respondents job search duration was less than one month for 39 percent, and between one to three months for 37 percent pf job respondents.
- Upwards of 82 percent of supply chain professionals reportedly take pride in their work.
The report itself provides nuggets of added information and can be downloaded at this ASCM web link with either ASCM membership or form registration.
All in all, this survey provides a rather promising indication of supply chain management career satisfaction in the midst of very challenging needs and business demands for the past three plus years.
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