The primary job of an allocation analyst is to provide analytical services to optimize the supply chain operations of a company. He/She allocates merchandise to stores at the appropriate levels within the right time frame. He/She manages product inventory levels by evaluating factors like store volume groups, regional differences, and product category differences. This is to set store inventory targets that achieve optimum store sales and gross margin. Also, he/she creates and executes an allocation strategy that supports the delivery of the team's financial goals.
To become an allocation analyst, you need either a bachelor's or an associate's degree in business, economics, or a related field. Candidates must have at least two years of experience in a similar role. The skillset includes analytical, organization, and communication skills. You must be proficient in Microsoft Office. Allocation analysts make an average salary of $82,067 annually or $39.46 per hour. This ranges from $59,000 to $113,000.
How to Become an Allocation Analyst
What is an Allocation Analyst
There is more than meets the eye when it comes to being an Allocation Analyst. For example, did you know that they make an average of $34.94 an hour? That's $72,683 a year!
Between 2018 and 2028, the career is expected to grow 20% and produce 139,200 job opportunities across the U.S.
What Does an Allocation Analyst Do
There are certain skills that many Allocation Analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Analytical skills, Communication skills and Detail oriented.
How To Become an Allocation Analyst
If you're interested in becoming an Allocation Analyst, one of the first things to consider is how much education you need. We've determined that 81.0% of Allocation Analysts have a bachelor's degree. In terms of higher education levels, we found that 4.8% of Allocation Analysts have master's degrees. Even though most Allocation Analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an Allocation Analyst. When we researched the most common majors for an Allocation Analyst, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Allocation Analyst resumes include Master's Degree degrees or High School Diploma degrees.
You may find that experience in other jobs will help you become an Allocation Analyst. In fact, many Allocation Analyst jobs require experience in a role such as Assistant Buyer. Meanwhile, many Allocation Analysts also have previous career experience in roles such as Store Manager or Sales Associate.
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Allocation Analyst Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of Assistant Buyer you might progress to a role such as Buyer eventually. Later on in your career, you could end up with the title Supply Chain Manager.
Allocation Analyst Jobs You Might Like
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Average Salary for an Allocation Analyst
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Allocation Analyst Jobs You Might Like
- High Paying Allocation Analyst Jobs - $99K and Up
- Entry Level Allocation Analyst Jobs
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- Actively Hiring
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Top Colleges for Allocation Analysts
1. University of Georgia
Athens, GA • Private
2. University of Pennsylvania
Philadelphia, PA • Private
3. University of Wisconsin - Madison
Madison, WI • Private
4. University of Maryland - College Park
College Park, MD • Private
5. Ball State University
Muncie, IN • Private
6. Northwestern University
Evanston, IL • Private
7. University of Minnesota - Twin Cities
Minneapolis, MN • Private
8. University of Nebraska - Lincoln
Lincoln, NE • Private
9. Stanford University
Stanford, CA • Private
10. Purdue University
West Lafayette, IN • Private
Find the best Allocation Analyst job for you
Allocation Analyst Jobs You Might Like
- High Paying Allocation Analyst Jobs - $99K and Up
- Entry Level Allocation Analyst Jobs
- Part Time Allocation Analyst Jobs
- Actively Hiring
- No Degree Allocation Analyst Jobs
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Top Skills For an Allocation Analyst
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 14.4% of Allocation Analysts listed Sales Goals on their resume, but soft skills such as Analytical skills and Communication skills are important as well.
Best States For an Allocation Analyst
Some places are better than others when it comes to starting a career as an Allocation Analyst. The best states for people in this position are Delaware, Washington, New York, and Connecticut. Allocation Analysts make the most in Delaware with an average salary of $107,861. Whereas in Washington and New York, they would average $100,879 and $99,369, respectively. While Allocation Analysts would only make an average of $90,675 in Connecticut, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. Delaware
$107,861
Avg. Salary
2. New York
$99,369
Avg. Salary
3. Rhode Island
$88,827
Avg. Salary