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The differences between buyers and procurement analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a buyer, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a procurement analyst has an average salary of $64,448, which is higher than the $54,049 average annual salary of a buyer.
The top three skills for a buyer include purchase orders, customer service and logistics. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Buyer | Procurement Analyst | |
| Yearly salary | $54,049 | $64,448 |
| Hourly rate | $25.99 | $30.98 |
| Growth rate | - | 11% |
| Number of jobs | 23,589 | 75,154 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 69% |
| Average age | 47 | 44 |
| Years of experience | - | 4 |
A buyer's duties include product sourcing and comparing resources for the best product range that would suit the specific needs of the business. Buyers must have excellent communication and negotiation skills to evaluate items that most likely benefit the customer and improve the sales of daily operations with cost-efficient products. They also conduct extensive research for market and price trends while considering the highest quality standards. Buyers should also possess strong analytical skills to create purchase orders and statistical analysis.
Procurement analysts procure favorable contracts by acting as liaisons between suppliers and their employers. They are hired by organizations that rely on supply chain management to analyze and evaluate potential suppliers, prepare reports about monthly supply costs, and negotiate contracts. With good critical thinking skills, these procurement analysts who are also known as purchasing analysts, evaluate vendors and suppliers based on the speed of delivery, quality, and price. They use quantitative methods to support fact-based decision-making to become competitive and to ensure cost-efficiency and high quality of the products and services.
Buyers and procurement analysts have different pay scales, as shown below.
| Buyer | Procurement Analyst | |
| Average salary | $54,049 | $64,448 |
| Salary range | Between $37,000 And $76,000 | Between $45,000 And $91,000 |
| Highest paying City | Englewood, NJ | Washington, DC |
| Highest paying state | New Jersey | Maryland |
| Best paying company | NVIDIA | PayPal |
| Best paying industry | Automotive | Retail |
There are a few differences between a buyer and a procurement analyst in terms of educational background:
| Buyer | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | California State University - Bakersfield | Northwestern University |
Here are the differences between buyers' and procurement analysts' demographics:
| Buyer | Procurement Analyst | |
| Average age | 47 | 44 |
| Gender ratio | Male, 43.9% Female, 56.1% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 4.0% Unknown, 3.1% Hispanic or Latino, 10.0% Asian, 6.7% White, 75.4% American Indian and Alaska Native, 0.8% | Black or African American, 8.2% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.8% White, 66.4% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 15% | 12% |