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Purchasing and Inventory Average Salaries in Chicago 2020

How much money does a person working in Purchasing and Inventory make in Chicago?


Average Yearly Salary
109,000 USD
( 9,070 USD monthly)

LOW
39,100
USD
AVERAGE
109,000
USD
HIGH
204,000
USD

A person working in Purchasing and Inventory in Chicago typically earns around 109,000 USD per year. Salaries range from 39,100 USD (lowest average) to 204,000 USD (highest average, actual maximum salary is higher).

This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different Purchasing and Inventory careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Asset Management Associate103,000 USD
Asset Protection Associate95,500 USD
Asset Protection Specialist102,000 USD
Assistant Buyer93,300 USD
Buyer148,000 USD
Capacity Planner108,000 USD
Category Manager119,000 USD
Channel Services Representative108,000 USD
Contracts Manager126,000 USD
Contracts Specialist101,000 USD
Demand Planner108,000 USD
Demand Planning Manager133,000 USD
Distribution Assistant86,500 USD
Distribution Manager195,000 USD
Inventory Control Clerk54,100 USD
Inventory Control Manager139,000 USD
Inventory Management Associate103,000 USD
Inventory Specialist102,000 USD
Logistics Engineer93,900 USD
Master Planner93,400 USD
Material Handler61,200 USD
Material Planning Specialist87,200 USD
Merchandise Manager120,000 USD
Procurement Administrator117,000 USD
Procurement Agent79,700 USD
Procurement Analyst125,000 USD
Procurement Clerk47,000 USD
Procurement Engineer103,000 USD
Production Planner107,000 USD
Project Buyer129,000 USD
Purchaser150,000 USD
Purchasing Assistant56,500 USD
Purchasing Manager210,000 USD
Purchasing Supervisor135,000 USD
Shipping and Receiving Clerk50,800 USD
Shipping Coordinator99,200 USD
Stock Clerk51,400 USD
Stock Regulator57,100 USD
Storage Manager129,000 USD
Store Keeper48,900 USD
Stores and Logistics Coordinator107,000 USD
Supply Chain Analyst146,000 USD
Supply Chain Coordinator104,000 USD
Supply Chain Development Manager185,000 USD
Supply Chain Manager198,000 USD
Supply Planner95,100 USD
Warehouse Assistant39,600 USD
Warehouse Clerk40,800 USD
Warehouse Executive167,000 USD
Warehouse Lead112,000 USD
Warehouse Manager182,000 USD
Warehouse Supervisor126,000 USD
Wholesale Buyer158,000 USD

Purchasing and Inventory Jobs Salary Distribution in Chicago

Median and salary distribution yearly Chicago Purchasing and Inventory
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The median, the maximum, the minimum, and the range

  • Salary Range

    Purchasing and Inventory salaries in Chicago range from 39,100 USD per year (minimum average salary) to 204,000 USD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 118,000 USD per year, which means that half (50%) of people working in Purchasing and Inventory are earning less than 118,000 USD while the other half are earning more than 118,000 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Purchasing and Inventory are earning less than 70,500 USD while 75% of them are earning more than 70,500 USD. Also from the diagram, 75% of people working in Purchasing and Inventory are earning less than 174,000 USD while 25% are earning more than 174,000 USD.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in United States costs anywhere from 39,500 US Dollar(s) to 118,000 US Dollar(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Purchasing and Inventory Salary Comparison By Gender

Salary comparison by gender yearly United States Purchasing and Inventory
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in United States who work in Purchasing and Inventory earn 8% more than their female counterparts on average.

Female
90,600 USD
Male+8%
97,500 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in United States for all Careers

Salary comparison by gender yearly United States
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Purchasing and Inventory Average Annual Salary Increment Percentage in United States

How much are annual salary increments in United States for Purchasing and Inventory professionals? How often do employees get salary raises?

Purchasing and Inventory

Purchasing and Inventory professionals in United States are likely to observe a salary increase of approximately 8% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate United States Purchasing and Inventory
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

United States / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in United States is 6%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in United States for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Purchasing and Inventory Bonus and Incentive Rates in United States

How much and how often are bonuses being awarded?Annual Salary Bonus Rate United States Purchasing and Inventory
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Purchasing and Inventory is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

42% of surveyed staff in Purchasing and Inventory reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.

Received Bonus
58%
No Bonus
42%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries yearly United States
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Where can you get paid more, working for a private company or for the government? Public sector employees in United States earn 5% more than their private sector counterparts on average across all sectors.

Private Sector
92,500 USD
Public Sector+5%
97,200 USD
Percentage increase and decrease are relative to the previous value

Purchasing and Inventory Hourly Average Wage in Chicago


52 USD per hour

The average hourly wage (pay per hour) in Chicago is 52 USD. This means that the average person in Chicago earns approximately 52 USD for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Purchasing and Inventory VS Other Jobs

Salary Comparison Between Purchasing and Inventory and Purchasing and Inventory yearly Chicago
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The average salary for Purchasing and Inventory is 1% less than that of All Jobs.

Chicago VS United States

Salary Comparison Between Chicago and United States yearly Purchasing and Inventory
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We compared Purchasing and Inventory salaries in Chicago, Illinois, and United States and we found that Chicago salaries are 1% less than those of Illinois. We also found out that Illinois salaries are 17% more than those of United States.

Salary Comparison By City

CityAverage Salary
Chicago109,000 USD
57625 - 4

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