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The differences between buying analysts and procurement analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a buying analyst, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a buying analyst has an average salary of $77,425, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a buying analyst include purchase orders, delivery schedules and MRP. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Buying Analyst | Procurement Analyst | |
| Yearly salary | $77,425 | $64,448 |
| Hourly rate | $37.22 | $30.98 |
| Growth rate | 11% | 11% |
| Number of jobs | 22,966 | 75,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 69% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
A buying analyst specializes in conducting extensive market research and analysis to develop conclusions and recommendations that will help companies in making purchase decisions. They focus on studying the suppliers and competing companies, gathering and analyzing consumer feedback, performing audits and risk assessments, and making forecast models. They may also assess and evaluate external parties, such as vendors and distributors. Through the findings of their research, a buying analyst may also help in establishing guidelines, protocols, and methods to optimize business operations and develop solutions against problem areas.
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.
Buying analysts and procurement analysts have different pay scales, as shown below.
| Buying Analyst | Procurement Analyst | |
| Average salary | $77,425 | $64,448 |
| Salary range | Between $52,000 And $113,000 | Between $45,000 And $91,000 |
| Highest paying City | Palo Alto, CA | Washington, DC |
| Highest paying state | Washington | Maryland |
| Best paying company | YellowHammer | PayPal |
| Best paying industry | Finance | Retail |
There are a few differences between a buying analyst and a procurement analyst in terms of educational background:
| Buying Analyst | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between buying analysts' and procurement analysts' demographics:
| Buying Analyst | Procurement Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 52.2% Female, 47.8% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.4% Asian, 7.4% White, 65.9% 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 | 7% | 12% |