Purchasing Managers,Buyers,and Purchasing Agents Held About 520,000 Jobs
Employment
Purchasing Managers,Buyers,and Purchasing Agents held about 529,000 jobs in 2006. Forty-three percent worked in the wholesale trade and manufacturing industries, and another twelve percent worked in retail trade. The remainder worked mostly in service establishments,such as hospitals,or different levels of government. A small number were self-employed.
The following tabulation shows the distribution of employment by occupational specialty:
Purchasing agents,except wholesale,retail,and farm products---273,000
Wholesale and retail buyers,except farm products---157,000
Purchasing Managers ----70,000
Purchasing agents and buyers,farm products ---16,000
Job Outlook
Overall employment of purchasing managers,Buyers,and Purchasing Agents is expected to grow slower than the average for all occupations through the year 2014. The use of the Internet to conduct electronic commerce has made information easier to obtain,thus increasing the productivity of Purchasing Managers. The Internet also allows both large and small companies to bid on contracts. Exclusive supply contracts and long-term contracting have allowed companies to negotiate with fewer suppliers less frequently.
Employment of wholesale and retail buyers,except farm products,also projected to grow more slowly than average. In the retail industry, mergers and acquisitions have caused buying departments to consolidate. In addition,large retail stores are eliminating local buying departments and centralizing them at their headquarters.
Employment of purchasing agents,except wholesale,retail,and farm products,is expected to increase more slowly than average,limited by the increased globalization of the U.S.economy. As more materials and supplies come from abroad, firms have begun to outsource more of their purchasing duties to foreign purchasing agents who are located closer to the foreign suppliers of goods and materials they will need. This trend is expected to continue, but it will likely be limited to routine transactions with complex and critical purchase still being handled in-house.
Finally, employment of purchasing agents and buyers,farm products, also is projected to increase more slowly than average, as overall growth in agricultural industries decreases and retailers in the grocery-related industries consolidate.
Persons who have a bachelor's degree in business should have the best chance of obtaining a buyer position in wholesale or retail trade or within government. A bachelor's degree, combined with industry experience and knowledge of a technical field,will be an advantage for those interested in working for a manufacturing or industrial company. Government agencies and larger companies usually require a master's degree in business or public administration for top-level purchasing positions.
Earnings
Median annual of Purchasing Managers were $81,570 in May 2006. The middle 50% earned between $60,890 and $105,780 a year. The lowest 10% earned less than $46,540, and the highest 10% earned more than $132,040 a year.
Median annual earnings for purchasing agents and buyers,farm products were $46,770 in May 2006. The middle 50% earned between $34,770 and $64,100 a year. The lowest 10% earned less than $26,520, and the highest 10% earned more than $88,650 a year.
Median annual earnings for wholesale and retail buyers,except farm products,were $44,640 in May 2004. The middle 50% earned between $33,640 and $60,590 a year. The lowest 10% earned less than $26,270, and the highest 10% earned more than $80,380 a year.
Source Information: Bureau of Labor Statistics at www.bls.org
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