The demands of the purchasing profession continue to grow, but compensation levels remain stable as electronic components buyers anticipate a modest 2% pay raise this year. Staying up-to-date on the latest government regulations, sourcing a wider variety of products to meet Internet of Things demands, and keeping up with outsourcing trends in an increasingly global economy are some of the issues keeping buyers on their toes.
“The purchase of electronic parts is an ever-changing world,” added another respondent. “And we are all asked to do more with the existing resources we have in-house today.”
Despite such challenges, electronic components buyers remain largely satisfied with their average annual salary of $83,000, which is higher than the average of $79,000 reported in last year’s survey. Many also report receiving higher bonus pay these days—an average $4,500 yearly bonus compared to the $4,000 bonus reported in last year’s survey.