The world continues to face extraordinary volatility and uncertainty as a result of both the COVID-19 pandemic and the fact that many countries have now officially entered recession. At this pivotal moment, the importance of supply chains and the people who drive them has never been so profound. Our profession continues to prove its value each and every day, and we at ASCM are so proud to represent you and support the work you are doing.
I am thrilled to learn that you, too, feel a sense of fulfillment and satisfaction in being a supply chain professional. In fact, ASCM’s 2020 Supply Chain Salary and Career Report has once again revealed that you truly love your jobs. Nearly all of our survey respondents (88%) said they feel positively about their careers, and the vast majority (85%) would recommend supply chain as a career path to others.
More than 2,400 U.S. supply chain professionals participated in this year’s survey, sharing key insights into compensation, satisfaction, essential technical and leadership skills, and much more. Some of the findings include the following:
- Supply chain professionals with a bachelor’s degree reported a median salary of $78,750, and those with an associate’s degree reported a median salary of $67,000 — both much higher than the national averages. Moreover, 91% of respondents received some form of additional cash compensation, such as bonuses or profit sharing.
- The average raise received by supply chain professionals in 2019 was 4.7% — 1.2% higher than the national average. Notably, 18% of survey respondents reported receiving a pay increase of 10% or more.
- These salary increases only improve with APICS Certified in Production and Inventory Management; Certified Supply Chain Professional; or Certified in Logistics, Transportation and Distribution designations. Those who hold at least one APICS certification enjoy a 21% higher median salary than those without any certification and 18% higher than those with non-APICS certifications.
- Women ages 30-39 earn 93% of the salaries of men in the same age group, which is significantly better than the national average. Unfortunately, the gap is larger in the 40-to-49 age range and greater still for those who are 50 and older. Industry leaders must be cognizant of these discrepancies during hiring and promotion processes. Being transparent and intentional about diversity and inclusion is essential to addressing this inequality.
- Leadership skills are key to success in a supply chain career, particularly communication, collaboration, critical thinking, future planning and problem-solving.
- Finally, 88% of industry professionals surveyed said their company provides paid holidays, 78% have at least three weeks of paid time off, and 64% have access to paid family or medical leave. This is significant, as people who are given paid time off for caregiving are more likely to return to their jobs and stay longer.
Invest in your people
We may not know exactly where the global economy is headed, but the enduring need for talented supply chain professionals is a certainty. Make the most of this unique moment in time by offering your employees on-demand courses and educational videos, as well as one-day seminars, to help them gain sought-after leadership and technical skills. Consider performance-driven group training to help them build high-performing teams. And give them access to best-in-class certifications, globally recognized as the standard in end-to-end supply chain education — and a proven way for your most valuable resources to improve their lives through heightened earning potential.