You may think you can offer a lower salary to a supply chain candidate who has been out of work for a while, or is new to the job market. After all, shouldn’t they be grateful for any salary they can get? Well, no. A savvy supply chain professional will know exactly what his or her value is on the market – and that value is growing higher by the year.
Why Good Supply Chain Candidates Are a Hot Commodity
Let’s face it, those who chose to go into supply chain made a smart career choice. Supply chain offers one of the best career paths these days, in terms of professional development and salary opportunities.
And research indicates that the demand for supply chain talent continues to outpace the available supply. A recent article in The Wall Street Journal pointed out that “with global operations becoming more complex, companies in manufacturing, retail and technology—and the consulting firms that service them—are scrambling to hire people with supply chain expertise. But these experts are hard to come by.
It’s also been said that a graduate degree in supply chain management is “the new MBA,” harking back to the hot business degree of the 1980s and 1990s.
Typical Supply Chain Starting Salaries
In recent years, universities with supply chain programs have reported outstanding starting salaries for their graduates. For example:
- Arizona State’s undergraduate supply chain majors from the class of 2012 earned average starting salaries of $56,410, compared with $50,098 for undergraduate business students overall.
- Arizona State’s MBA-level students who took operations or supply chain jobs reported starting salaries averaging around $97,481
- 97% of MIT’s master’s degree candidates in 2012 had one or more job offers by graduation
- 100% of the students were employed by 3 months after graduation
- The median salary for these MIT grads was $115,000 —without signing bonuses. Those bonuses have been around the $10,000 mark in recent years.
How You Can Compete
So, candidates know what they’re worth. How can you ensure you’re offering competitive compensation? And how can you afford it?
Collaborating with an experienced staffing partner that specializes in supply chain can solve both of those problems for you. For example, at ZDA Supply Chain Recruiting in Denver, we keep up with salary data across the country, and we know which companies are providing what benefits. We can help you put together attractive compensation packages—and because we’ll help you save money and time in identifying and hiring the right candidates and facilitate the negotiation process, you’ll be able to make competitive offers to the candidates you want.
Want to know more? Contact ZDA Supply Chain Recruiting today.