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Average salaries have increased 6.8 percent since last year, with a new average of US$98,117
The current economic news is not all bad — supply management salaries continue to climb!
The results of ISM's fourth annual salary survey show that the average supply management professional earned 6.8 percent more in 2008 than in 2007, earning an average salary of US$98,117. The overall average salary has increased each year that ISM has performed this survey.
This positive trend is a good sign of progress for the profession, especially in today's tough economic climate. Time will tell if this trend is able to continue through the remainder of 2009.
The percentage of respondents who reported earning a salary in excess of $100,000 has increased to 35 percent, compared to 31 percent last year. The high salary is reported as $850,000, and the low salary is reported as $30,332. The median salary is $84,000. The salary numbers reported are for the calendar year of 2008 and include wages and any bonuses received.
Respondents self-reported an average salary increase of 4.9 percent from the salaries they received in 2007. Of all respondents, 86 percent reported that their salaries increased, 4 percent indicated that their salaries decreased and 10 percent reported that their salaries did not change in 2008.
While total salary is a vital aspect of the overall employment picture, respondents rated it as the third most important item as it relates to the choice of job and employer. Job satisfaction received the highest overall rating, while the overall benefits package was rated as the second most important factor.
Other factors that were rated highly included organizational culture/work environment, work location and advancement opportunities.
To discuss the implications of this good news and it's effect on the UK/European economy, please call us on 0870 240 1667
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