Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between senior sourcing 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 senior sourcing analyst, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a senior sourcing analyst has an average salary of $84,801, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a senior sourcing analyst include DOD, CI and intelligence analysis. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Senior Sourcing Analyst | Procurement Analyst | |
| Yearly salary | $84,801 | $64,448 |
| Hourly rate | $40.77 | $30.98 |
| Growth rate | 3% | 11% |
| Number of jobs | 12,504 | 75,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 69% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
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.
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.
Senior sourcing analysts and procurement analysts have different pay scales, as shown below.
| Senior Sourcing Analyst | Procurement Analyst | |
| Average salary | $84,801 | $64,448 |
| Salary range | Between $63,000 And $112,000 | Between $45,000 And $91,000 |
| Highest paying City | Foster City, CA | Washington, DC |
| Highest paying state | California | Maryland |
| Best paying company | PayPal | PayPal |
| Best paying industry | Manufacturing | Retail |
There are a few differences between a senior sourcing analyst and a procurement analyst in terms of educational background:
| Senior Sourcing Analyst | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between senior sourcing analysts' and procurement analysts' demographics:
| Senior Sourcing Analyst | Procurement Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 62.8% Female, 37.2% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.5% Asian, 7.8% White, 65.4% 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% |