The Association for Supply Chain Management (ASCM) released the findings of its 2022 Supply Chain Salary and Career Report. The annual survey found supply chains were minimally impacted by the Great Resignation. According to the report, 14% of respondents found a new job, up only 2% from last year. The data also revealed career satisfaction remained exceedingly high despite the continuous strain of supply chain disruptions.
“This past year brought continued uncertainty across all industries and supply chain professionals were once again under tremendous pressure to keep pace with a never-ending stream of disruptions,” said ASCM CEO Abe Eshkenazi, CSCP, CPA, CAE. “Amid all these global challenges, it’s reassuring to see supply chain professionals remaining resilient and committed to their vital work and this dynamic industry.”
Flexibility and strong salaries
As many industries struggle with balancing return to work policies, supply chain professionals are thriving in the hybrid world created by the pandemic. According to this year’s report, two-thirds of supply chain professionals work in a hybrid or permanent work-from-home setting, demonstrating the flexibility that many in today’s workforce seek when evaluating career options.
Salaries and compensation continue to rise with survey respondents reporting an average of a 9% pay increase. Overall, total compensation has increased by an average of 12%, with the median package being just under $100,000. From a benefits standpoint, the report showed that paid time off is generous within the industry with nearly half (48%) of supply chain professionals reporting receiving four weeks or more of paid vacation.
Pay gap continues to narrow
For the second year in a row, the report showed that women under 40 earned more than their male counterparts in supply chain roles. Additionally, the overall gender pay gap among supply chain professionals continues to narrow with the upward growth of women in the industry.
This year’s report found women aged 40 to 49 narrowed the pay gap down from 15% in last year’s report to 8% this year. While this shows growth for women within the industry, the report found an overall gap for women and people of color at privately held companies. At publicly traded companies, salaries are more equitable for both women and people of color.
“This year’s data is encouraging as we work to attract, develop and retain more diverse supply chain talent but these numbers also demonstrate there is more work to be done. I hope all organizations can redouble efforts to eliminate pay gaps based on gender and race,” added Eshkenazi.
Additional key findings from ASCM’s survey include:
Professional development pays off: Those with at least 1 APICS certification earn 25% more salary than those with no certification at all.
Strong salaries: Respondents reported a median salary of $96,000 (base salary and additional compensation).
Quick job placements: Eighty-one percent of new graduates found their job in the supply chain industry in three months or less. For professionals already in the industry, 67% found a new job within three months of beginning their search.
The original article can be found at: Supply Chain Management Review