Supply chain professionals continue to benefit from a solid job market, reflected in another year of significant salary increases, according to a survey, 2024 Supply Chain Salary and Career Report, from The Association for Supply Chain Management (ASCM).
Building on the momentum from 2023, respondents saw their average salaries increase by 8% this year.
“It’s encouraging to see salaries in the supply chain sector continue their upward trend,”said ASCM CEO Abe Eshkenazi, in a statement. “Supply chains are the backbone of communities everywhere, and professionals must be rewarded for their hard work in keeping operations running smoothly and commitment to building a better world. The role of talent in fostering a resilient and efficient supply chain cannot be overstated.”
The report found that the median compensation for supply chain professionals reached a major milestone, hitting a record-breaking $103,000.
Additionally, supply chain professionals with degrees reported a significant salary premium of $25,000 above the national average, and individuals with at least one supply chain credential earned a median salary 10% higher than their non-credentialed colleagues.
Career Satisfaction and a Sense of Pride
Supply chain professionals across the globe once again report high levels of job satisfaction, as 60% of respondents rated their careers an 8 or higher on a 10-point scale, proving happiness with their current employers.
This enthusiasm is further underscored by the fact that 81% plan to remain in the supply chain field for at least the next five years.
Additionally, a strong sense of professional worth was observed, with 85% of supply chain professionals taking pride in their work.
Hard and Soft Skills Are Key
This past year, AI and other emerging technologies and tools permeated the workplace and advanced at an unprecedented rate. Results from the research showed that to navigate the ever-evolving supply chain field, a blend of technical and emotional intelligence skills is crucial.
Cloud computing remains the most commonly used technology, followed by AI chatbots, machine learning and robotics.
On the soft skills side, critical thinking, collaboration and problem-solving reign supreme as key emotional intelligence strengths for success in today's supply chain landscape.
Additional findings from the 2024 Supply Chain Salary and Career Report include:
• ASCM's APICS certifications translated to an 18% salary boost compared to those without the certification
• The job search remains efficient, with 29% finding their new role within the first month
• The global workweek for supply chain professionals leans towards balance, with roughly 72% averaging 35-45 hours
• Salary gaps are re-emerging, particularly among professionals with less than four years of experience.
