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.
Senior Sourcing Analyst Overview
Working as a Senior Sourcing Analyst
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!
What Does a Senior Sourcing Analyst Do
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.
How To Become a Senior Sourcing Analyst
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.
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Senior Sourcing Analyst Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of purchasing manager you might progress to a role such as director of purchasing eventually. Later on in your career, you could end up with the title director of purchasing.
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Average Salary for a Senior Sourcing Analyst
Best Paying Cities
Recently Added Salaries
Job TitleCompany  | Company | Start Date | Salary |
|---|---|---|---|
Ohio State University Wexner Medical Center Senior Sourcing Analyst Senior Sourcing Analyst | Ohio State University Wexner Medical Center Ohio State University Wexner Medical Center | 10/26/2020 10/26/2020 | $68,00010/26/2020 $68,000 |
Federal Reserve Bank Senior Sourcing Analyst Senior Sourcing Analyst | Federal Reserve Bank Federal Reserve Bank | 11/17/2019 11/17/2019 | $82,00011/17/2019 $82,000 |
Cummins Inc. Sourcing Analyst-Senior Sourcing Analyst-Senior | Cummins Inc. Cummins Inc. | 09/06/2019 09/06/2019 | $72,40009/06/2019 $72,400 |
Federal Reserve Bank Senior Sourcing Analyst Senior Sourcing Analyst | Federal Reserve Bank Federal Reserve Bank | 08/13/2019 08/13/2019 | $82,00008/13/2019 $82,000 |
Cummins Inc. Sourcing Analyst-Senior Sourcing Analyst-Senior | Cummins Inc. Cummins Inc. | 08/02/2019 08/02/2019 | $72,40008/02/2019 $72,400 |
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Top Colleges for Senior Sourcing Analysts
1. University of Pennsylvania
Philadelphia, PA • Private
2. Bentley University
Waltham, MA • Private
3. SUNY Farmingdale
Farmingdale, NY • Public
4. New York University
New York, NY • Private
5. University of Minnesota - Twin Cities
Minneapolis, MN • Public
6. SUNY College at Plattsburgh
Plattsburgh, NY • Public
7. Stanford University
Stanford, CA • Private
8. Baylor University
Waco, TX • Private
9. SUNY College of Technology at Alfred
Alfred, NY • Public
10. Syracuse University
Syracuse, NY • Private
Top Skills For a Senior Sourcing 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, 10.8% of senior sourcing analysts listed intelligence analysis on their resume, but soft skills such as empathy and good judgment are important as well.
- Intelligence Analysis, 10.8%
- Strategic Sourcing, 7.0%
- DOD, 6.6%
- CI, 6.6%
- Cost Reduction, 4.4%
- Other Skills, 64.6% See All Senior Sourcing Analyst Skills
Best States For a Senior Sourcing Analyst
Some places are better than others when it comes to starting a career as a senior sourcing analyst. The best states for people in this position are California, Hawaii, Washington, and Pennsylvania. Senior sourcing analysts make the most in California with an average salary of $89,709. Whereas in Hawaii and Washington, they would average $85,362 and $85,096, respectively. While senior sourcing analysts would only make an average of $83,873 in Pennsylvania, 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. California
$89,710
Avg. Salary
2. Virginia
$81,393
Avg. Salary
3. Pennsylvania
$83,873
Avg. Salary
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