ASCM’s 2024 Salary and Career Report Finds Salary Increases Amid Strong Labor Market
May 14 2024 - 10:25AM
Business Wire
Global Supply Chain Study Reveals High Levels
of Job Satisfaction and Underscores Importance of AI and Technical
Skills
The Association for Supply Chain Management (ASCM), the global
pacesetter of organizational transformation, talent development and
supply chain innovation, today 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.
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, CSCP,
CPA, CAE. “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. A resounding 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. 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% 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.
This is the 7th annual Salary and Career Report for ASCM. Over
5,000 respondents participated in the survey from North America and
Europe. You can access the full report here.
More information on supply chain careers and education can be
found here.
About ASCM
The Association for Supply Chain Management (ASCM) is the global
pacesetter of organizational transformation, talent development and
supply chain innovation. As the largest association for supply
chain, ASCM members and worldwide alliances fuel innovation and
inspire accountability for resilient, dynamic and sustainable
operations. ASCM is built on a foundation of world-class APICS
education, certification and career resources, which encompass
award-winning workforce development, relevant content,
groundbreaking industry standards and a diverse community of
professionals who are driven to create a better world through
supply chain. To learn more, visit ascm.org.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240514602994/en/
Michael Nothnagel ASCM@teamlewis.com