What is a Buying Analyst

Buying analysts are essentials members of a supply chain management team. They mediate between organizations and suppliers, find sources to procure supplies, analyze costs and set quality standards to ensure top-notch products keep competitors at bay.

As a buying analyst, you might be employed in a wide variety of industries. As long as they sell products, they are going to need you. Your job will be to support buyers by analyzing procurement and sales metrics. You will prepare orders, solicit proposals and review bids from vendors. It will be your responsibility to review contracts, keep track of contract details and documents, invoices, reports, and the like.

You will run regular price audits and monitor the company's obligations towards suppliers. You will also be expected to present the financial status of your department to the executive directors regularly.

There is more than meets the eye when it comes to being a Buying Analyst. For example, did you know that they make an average of $24.65 an hour? That's $51,266 a year!

Between 2018 and 2028, the career is expected to grow 14% and produce 118,300 job opportunities across the U.S.

What Does a Buying Analyst Do

There are certain skills that many Buying 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 Interpersonal skills.

Learn more about what a Buying Analyst does

How To Become a Buying Analyst

If you're interested in becoming a Buying Analyst, one of the first things to consider is how much education you need. We've determined that 71.6% of Buying Analysts have a bachelor's degree. In terms of higher education levels, we found that 10.0% of Buying Analysts have master's degrees. Even though most Buying 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 a Buying Analyst. When we researched the most common majors for a Buying Analyst, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Buying Analyst resumes include Master's Degree degrees or High School Diploma degrees.

You may find that experience in other jobs will help you become a Buying Analyst. In fact, many Buying Analyst jobs require experience in a role such as Buyer. Meanwhile, many Buying Analysts also have previous career experience in roles such as Purchasing Agent or Purchasing Manager.

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Average Salary
$51,266
Average Salary
Job Growth Rate
14%
Job Growth Rate
Job Openings
15,751
Job Openings
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Buying Analyst Career Paths

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Average Salary for a Buying Analyst

Buying Analysts in America make an average salary of $51,266 per year or $25 per hour. The top 10 percent makes over $67,000 per year, while the bottom 10 percent under $38,000 per year.
Average Salary
$51,266
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Buying Analyst Demographics

Buying Analyst Gender Statistics

male

51.0 %

female

44.6 %

unknown

4.3 %

Buying Analyst Ethnicity Statistics

White

70.8 %

Hispanic or Latino

11.3 %

Black or African American

8.6 %

Buying Analyst Foreign Languages Spoken Statistics

Spanish

55.0 %

Chinese

5.0 %

Albanian

5.0 %
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Buying Analyst Education

Buying Analyst Majors

43.7 %
6.2 %

Buying Analyst Degrees

Bachelors

71.6 %

Associate

11.9 %

Masters

10.0 %

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None
High School / GED
Associate
Bachelor's
Master's
Doctorate

Top Colleges for Buying Analysts

1. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

3. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

4. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

5. George Washington University, The

Washington, DC • Private

In-State Tuition
$55,230
Enrollment
12,161

6. Pennsylvania State University

University Park, PA • Private

In-State Tuition
$18,454
Enrollment
40,108

7. Lehigh University

Bethlehem, PA • Private

In-State Tuition
$52,930
Enrollment
5,030

8. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

9. University of Georgia

Athens, GA • Private

In-State Tuition
$11,830
Enrollment
29,474

10. Ball State University

Muncie, IN • Private

In-State Tuition
$9,896
Enrollment
15,529
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Online Courses For Buying Analyst That You May Like

Fundamentals of Logistics, Supply Chain & Customer Service
udemy
4.5
(1,048)

Learn Logistics, Supply Chain and Customer Service. 3 Courses in 1...

Procurement and Logistics Management
edX (Global)

This course is part of the edX Professional Certificate program Certified Supply Chain Analyst (CSCA), offered by ISCEA. This course prepares you for the ISCEA Certified Supply Chain Analyst (CSCA) Exam on edX and is a requirement for becoming ISCEA certified. To become an ISCEA Certified Supply Chain Analyst (CSCA), you must complete all three preparatory courses and successfully pass the CSCA Exam. The Procurement and Logistics Management course is designed to provide the foundational skills...

Distribution: product delivery
edX (Global)

No matter the volume of production of a micro or small company, delivery to clients will always be indispensable. Designing the best way to transport goods may mean performing the process by the company’s own means or through outsourcing (an important part of an organization’s logistic process) In this course on logistics you will get to know the processer related to transportation and how they go from selecting routes, choosing vehicles, shipment frequency, to ensuring the reception of changes...

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Top Skills For a Buying 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, 15.3% of Buying Analysts listed Purchase Orders on their resume, but soft skills such as Analytical skills and Communication skills are important as well.

  • Purchase Orders, 15.3%
  • Supplier Performance, 13.6%
  • Inventory Levels, 6.7%
  • Cost Reduction, 6.7%
  • Vendor Invoices, 6.1%
  • Other Skills, 51.6%
  • See All Buying Analyst Skills

12 Buying Analyst RESUME EXAMPLES

Best States For a Buying Analyst

Some places are better than others when it comes to starting a career as a Buying Analyst. The best states for people in this position are Pennsylvania, New Jersey, West Virginia, and Virginia. Buying Analysts make the most in Pennsylvania with an average salary of $66,251. Whereas in New Jersey and West Virginia, they would average $62,910 and $61,634, respectively. While Buying Analysts would only make an average of $61,482 in Virginia, 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. Virginia

Total Buying Analyst Jobs:
480
Highest 10% Earn:
$97,000
Location Quotient:
1.88
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Pennsylvania

Total Buying Analyst Jobs:
298
Highest 10% Earn:
$107,000
Location Quotient:
0.95
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Alaska

Total Buying Analyst Jobs:
37
Highest 10% Earn:
$88,000
Location Quotient:
1.64
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Buying Analysts

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