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Senior sourcing analyst hiring summary. Here are some key points about hiring senior sourcing analysts in the United States:
Here's a step-by-step senior sourcing analyst hiring guide:
A senior sourcing analyst is an individual who oversees the planning and purchasing process for specific commodities and who supports new product launches. He/She or she should be able to establish relationships with suppliers to help in the sourcing process and in the negotiation of deals and contracts to ensure compliance with budgetary requirements. The position requires core skills such as strong analytical, mathematical, and negotiating skills and deep knowledge of the industry the analyst is working in. The education requirements for the job include an associate or bachelor's degree in business, supply chain management, marketing, or a related field.
Before you start hiring a senior sourcing analyst, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.
A senior sourcing analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior sourcing analysts from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of senior sourcing analysts.
| Type of Senior Sourcing Analyst | Description | Hourly rate |
|---|---|---|
| Senior Sourcing Analyst | Buyers and purchasing agents buy products and services for organizations to use or resell. They evaluate suppliers, negotiate contracts, and review the quality of products. | $30-53 |
| Landman | Landmen are referred to as the public-facing side of a gas, mineral, and oil exploration and production team. They are professionals who interact and negotiate directly with landowners for the acquisition of gas and oil drilling leases... Show more | $25-61 |
| Contracts Administrator | Contract administrators create and manage legal contracts from which the company participates. They ensure that all entities to the contract will accomplish their obligations, as indicated in the contract... Show more | $16-37 |
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $113,619 | $55 |
| 2 | District of Columbia | $97,065 | $47 |
| 3 | New York | $96,223 | $46 |
| 4 | Washington | $93,201 | $45 |
| 5 | Massachusetts | $92,765 | $45 |
| 6 | Oregon | $88,281 | $42 |
| 7 | Alabama | $85,903 | $41 |
| 8 | Virginia | $85,663 | $41 |
| 9 | Colorado | $83,902 | $40 |
| 10 | Pennsylvania | $81,167 | $39 |
| 11 | Georgia | $79,604 | $38 |
| 12 | Minnesota | $77,586 | $37 |
| 13 | New Mexico | $77,287 | $37 |
| 14 | Florida | $76,680 | $37 |
| 15 | Illinois | $76,487 | $37 |
| 16 | Ohio | $76,370 | $37 |
| 17 | Indiana | $76,160 | $37 |
| 18 | Arizona | $74,195 | $36 |
| 19 | Kentucky | $71,857 | $35 |
| 20 | North Carolina | $71,112 | $34 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | PayPal | $133,067 | $63.97 | 4 |
| 2 | Levi Strauss & Co. | $129,936 | $62.47 | |
| 3 | Atlassian | $124,379 | $59.80 | |
| 4 | Nike | $118,841 | $57.14 | 6 |
| 5 | The TJX Companies | $111,498 | $53.60 | |
| 6 | Citi | $109,767 | $52.77 | 9 |
| 7 | Edwards Lifesciences | $105,361 | $50.65 | |
| 8 | Capital Group | $105,305 | $50.63 | |
| 9 | Amazon | $102,995 | $49.52 | 9 |
| 10 | The Clorox Company | $101,997 | $49.04 | 3 |
| 11 | Riot Games | $100,515 | $48.32 | |
| 12 | Albertsons | $99,816 | $47.99 | |
| 13 | Visa | $98,826 | $47.51 | 3 |
| 14 | A.T. Kearney | $98,485 | $47.35 | |
| 15 | Sysco | $97,810 | $47.02 | 1 |
| 16 | Floor & Decor | $97,381 | $46.82 | |
| 17 | M&T Bank | $97,172 | $46.72 | 2 |
| 18 | The Home Depot | $97,058 | $46.66 | 6 |
| 19 | Sony Pictures | $96,570 | $46.43 | 6 |
| 20 | Kroger | $96,219 | $46.26 | 3 |
A senior sourcing analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a senior sourcing analyst job description:
To find senior sourcing analysts for your business, try out a few different recruiting strategies:
Your first interview with senior sourcing analyst candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you have selected a candidate for the senior sourcing analyst position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
Once that's done, you can draft an onboarding schedule for the new senior sourcing analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
There are different types of costs for hiring senior sourcing analysts. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new senior sourcing analyst employee.
The median annual salary for senior sourcing analysts is $84,801 in the US. However, the cost of senior sourcing analyst hiring can vary a lot depending on location. Additionally, hiring a senior sourcing analyst for contract work or on a per-project basis typically costs between $30 and $53 an hour.