Senior sourcing analysts are responsible for supervising sourcing analysts. These sourcing analysts are tasked with collecting and analyzing data that relates to the products and services that a company uses in operations. They actively evaluate multiple sourcing strategies in order to identify and recommend the best cost strategies and conduct analysis to assess how suppliers fit the business needs.
Senior sourcing analysts earn an average salary of $73,000 annually or $35 per hour. They revise and update the contract management database, permit accurate tracking, renewal, and termination of company agreements. They are responsible for the operational procurement activity across certain departments/products together with the duties associated with the procurement team analyst.
In terms of academic qualifications, senior sourcing analysts typically hold a bachelor's or master's degree in engineering, supply chain management, finance, or other related fields. They are expected to have proven work experience as a sourcing analyst. Some employers prefer candidates who are empathetic with sound leadership skills to boot.
There is more than meets the eye when it comes to being a senior sourcing analyst. For example, did you know that they make an average of $35.28 an hour? That's $73,391 a year!
There are certain skills that many senior sourcing 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 empathy, good judgment and leadership skills.
When it comes to the most important skills required to be a senior sourcing analyst, we found that a lot of resumes listed 10.8% of senior sourcing analysts included intelligence analysis, while 7.0% of resumes included strategic sourcing, and 6.6% of resumes included dod. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the senior sourcing analyst job title. But what industry to start with? Most senior sourcing analysts actually find jobs in the manufacturing and technology industries.
If you're interested in becoming a senior sourcing analyst, one of the first things to consider is how much education you need. We've determined that 51.3% of senior sourcing analysts have a bachelor's degree. In terms of higher education levels, we found that 34.2% of senior sourcing analysts have master's degrees. Even though most senior sourcing 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 senior sourcing analyst. When we researched the most common majors for a senior sourcing analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on senior sourcing analyst resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a senior sourcing analyst. In fact, many senior sourcing analyst jobs require experience in a role such as all-source analyst. Meanwhile, many senior sourcing analysts also have previous career experience in roles such as intelligence analyst or senior intelligence analyst.