Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between commodity 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 commodity analyst, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a commodity analyst has an average salary of $87,261, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a commodity analyst include risk management, commodities and macro. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Commodity Analyst | Procurement Analyst | |
| Yearly salary | $87,261 | $64,448 |
| Hourly rate | $41.95 | $30.98 |
| Growth rate | 11% | 11% |
| Number of jobs | 11,130 | 75,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 69% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
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.
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.
Commodity analysts and procurement analysts have different pay scales, as shown below.
| Commodity Analyst | Procurement Analyst | |
| Average salary | $87,261 | $64,448 |
| Salary range | Between $63,000 And $119,000 | Between $45,000 And $91,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Massachusetts | Maryland |
| Best paying company | Apple | PayPal |
| Best paying industry | Finance | Retail |
There are a few differences between a commodity analyst and a procurement analyst in terms of educational background:
| Commodity Analyst | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 79% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between commodity analysts' and procurement analysts' demographics:
| Commodity Analyst | Procurement Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 63.6% Female, 36.4% | Male, 47.7% Female, 52.3% |
| 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, 8.2% 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% |