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The differences between senior sourcing specialists and planner/buyers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a senior sourcing specialist and a planner/buyer. Additionally, a senior sourcing specialist has an average salary of $79,213, which is higher than the $54,261 average annual salary of a planner/buyer.
The top three skills for a senior sourcing specialist include linkedin, HR and applicant tracking systems. The most important skills for a planner/buyer are supply chain, purchase orders, and customer service.
| Senior Sourcing Specialist | Planner/Buyer | |
| Yearly salary | $79,213 | $54,261 |
| Hourly rate | $38.08 | $26.09 |
| Growth rate | -6% | -3% |
| Number of jobs | 7,764 | 33,452 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 65% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
The job of a senior sourcing specialist is to help companies implement more effective processes and systems to reduce costs and increase profitability. You will be responsible for negotiating with suppliers to procure materials, products, and services at the best possible price using your in-depth knowledge of their industry and strategic sourcing strategies. As a senior source specialist, you are expected to develop and implement inventory optimization strategies across the company. You will also need to find or develop solutions to improve company outsourcing and spending.
The role of buyers/planners is to ensure that office materials and equipment are well-supplied within their organization. They decide and purchase the materials needed for use or resale by their organization. They are responsible for evaluating prospective suppliers based on their cost, product quality, and delivery times. They are also the ones who negotiate contracts specifying the payment terms, price, and delivery schedules. Most employers prefer their buyer to have earned a bachelor's degree with a major in operations management or business management.
Senior sourcing specialists and planner/buyers have different pay scales, as shown below.
| Senior Sourcing Specialist | Planner/Buyer | |
| Average salary | $79,213 | $54,261 |
| Salary range | Between $60,000 And $103,000 | Between $37,000 And $77,000 |
| Highest paying City | San Francisco, CA | Billerica, MA |
| Highest paying state | California | Massachusetts |
| Best paying company | PayPal | Edwards Lifesciences |
| Best paying industry | Health Care | Technology |
There are a few differences between a senior sourcing specialist and a planner/buyer in terms of educational background:
| Senior Sourcing Specialist | Planner/Buyer | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior sourcing specialists' and planner/buyers' demographics:
| Senior Sourcing Specialist | Planner/Buyer | |
| Average age | 48 | 48 |
| Gender ratio | Male, 51.8% Female, 48.2% | Male, 47.9% Female, 52.1% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.5% Asian, 7.9% White, 65.4% American Indian and Alaska Native, 0.8% | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.5% Asian, 7.9% White, 65.4% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |