Websites like Indeed and Glassdoor can be great resources for people looking to get information on supply chain salaries. However, these reports aren’t always accurate, and salaries can significantly vary thanks to a number of factors.
Consider the following nine factors that can significantly affect the salary of a supply chain position.
Salaries for just about any on-premise job will vary based on cost of living for the surrounding area. For example, a supply chain job located in New York City will likely pay more than the exact same job in rural Ohio.
While there is a supply chain industry, many supply chain jobs are located in other industries, mostly in different manufacturing industries. Compensation for the same supply chain job varies significantly based on the industry. For example, pay for a job in the food production industry will be very different from pay for a job in automotive manufacturing.
3) Size of the Company
The size and nature of a company also has a large impact on compensation. Large multinational corporations tend to have rigid pay structures, while small family-owned businesses are more likely to have a loose pay structure.
4) Nature of the Position
The nature of a job can also vary from one company to another, and the scope of the position typically has a major impact on compensation. For example, supply chain jobs that involve hazardous materials will likely pay more than jobs with lower risk.
Additionally, many manufacturing companies have a unionized workforce and this can be a factor for some positions.
Companies hire people based on their qualifications, and people with an impressive list of credentials are able to ask for a higher rate of pay. Those who have earned essential certifications or who have unique language skills, for example, are able to ask for a higher rate of pay than the average for their position.
Benefits can have a major influence on the salary for a position. While it doesn’t show up in salary figures, a generous health insurance plan can be a very attractive form of compensation, and many people may be willing to take a lower rate of pay for more comprehensive coverage.
7) Performance-Based Pay
Some supply chain jobs will also offer performance bonuses, and these won’t show up in basic salary reports.
8) Unique Value
Pay for a position can substantially increase based on the unique value someone brings to the table. For example, someone with ‘nice to have’ database skills could command a higher rate of pay than the average. Also, some people are able to earn a higher rate of pay based on skillful negotiation.
9) Quality of Resume
Your resume sells your ability to a potential employer, and if it isn’t well-written, you won’t earn a premium rate of pay. Therefore, it is critical to compose an attractive application when seeking supply chain jobs.
We Can Optimize Your Next Application
At ZDA, we’re dedicated to helping all supply chain professionals earn what they deserve. If you are currently seeking job search assistance, please contact us today.