Supply chain salaries up by eight percent

by Inside Logistics Online Staff

Average supply chain salaries increased by eight percent this year.

The Association for Supply Chain Management (ASCM) has released the findings of its 2024 Supply Chain Salary and Career Report. The annual report found that supply chain professionals continue to benefit from a solid job market, reflected in another year of significant salary increases.

“It’s encouraging to see salaries in the supply chain sector continue their upward trend,” said ASCM CEO Abe Eshkenazi.

“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 US$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 percent higher than their non-credentialed colleagues.

Supply chain professionals across the globe once again report high levels of job satisfaction. Sixty percent of respondents rated their careers an eight or higher on a 10-point scale, proving happiness with their current employers. This enthusiasm is further underscored by the fact that 81 percent plan to remain in the supply chain field for at least the next five years.

These figures point to a strong sense of fulfillment and commitment among supply chain professionals worldwide. Additionally, a strong sense of professional worth was observed, with 85 percent of supply chain professionals taking pride in their work.

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 are the 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 percent salary boost compared to those without the certification
  • The job search remains efficient, with 29 percent finding their new role within the first month
  • The global workweek for supply chain professionals leans towards balance, with roughly 72 percent averaging 35-45 hours
  • Salary gaps are re-emerging, particularly among professionals with less than four years of experience.

This is the seventh annual Salary and Career Report for ASCM. Over 5,000 respondents participated in the survey from North America and Europe.