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The differences between commodity analysts and procurement agents can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a commodity analyst and a procurement agent. Additionally, a commodity analyst has an average salary of $87,261, which is higher than the $72,384 average annual salary of a procurement agent.
The top three skills for a commodity analyst include risk management, commodities and macro. The most important skills for a procurement agent are supply chain, strategic sourcing, and supplier performance.
| Commodity Analyst | Procurement Agent | |
| Yearly salary | $87,261 | $72,384 |
| Hourly rate | $41.95 | $34.80 |
| Growth rate | 11% | 11% |
| Number of jobs | 11,130 | 45,198 |
| Job satisfaction | - | 2 |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 69% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
A commodity analyst focuses on the raw material part of the stock market. This job can range from analyzing oil and electricity to soybeans and fruits. Typical tasks of a commodity analyst include monitoring the commodities and market industries, analyzing financial information, and drafting accurate reports for investors. This analyst requires at least a bachelor's degree in finance, economics, or a related field. Other qualifications include using computer software, a thorough knowledge of economics, and analytical skills.
A procurement agent develops profitable measures to save the client money and ensure the quality of goods supplied. Procurement agents obtain the purchased items through suppliers, monitor them, and expedite the orders. They oversee the activities and performance of the suppliers for compliance. Their duties include the verification of item receipts, resolving shipment-related problems, and authorizing purchase payments through documentation. The necessary skills for this job include being accomplished, decisive, and strong communication skills.
Commodity analysts and procurement agents have different pay scales, as shown below.
| Commodity Analyst | Procurement Agent | |
| Average salary | $87,261 | $72,384 |
| Salary range | Between $63,000 And $119,000 | Between $49,000 And $106,000 |
| Highest paying City | Boston, MA | Richmond, CA |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | Apple | McKinsey & Company Inc |
| Best paying industry | Finance | Technology |
There are a few differences between a commodity analyst and a procurement agent in terms of educational background:
| Commodity Analyst | Procurement Agent | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between commodity analysts' and procurement agents' demographics:
| Commodity Analyst | Procurement Agent | |
| Average age | 48 | 48 |
| Gender ratio | Male, 63.6% Female, 36.4% | Male, 51.4% Female, 48.6% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.4% Asian, 7.8% White, 65.5% American Indian and Alaska Native, 0.8% | Black or African American, 8.8% Unknown, 4.4% Hispanic or Latino, 12.2% Asian, 7.6% White, 66.2% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |