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The differences between senior sourcing specialists 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 specialist, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a senior sourcing specialist has an average salary of $79,213, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a senior sourcing specialist include linkedin, HR and applicant tracking systems. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Senior Sourcing Specialist | Procurement Analyst | |
| Yearly salary | $79,213 | $64,448 |
| Hourly rate | $38.08 | $30.98 |
| Growth rate | -6% | 11% |
| Number of jobs | 7,764 | 75,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 69% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
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.
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 specialists and procurement analysts have different pay scales, as shown below.
| Senior Sourcing Specialist | Procurement Analyst | |
| Average salary | $79,213 | $64,448 |
| Salary range | Between $60,000 And $103,000 | Between $45,000 And $91,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | Maryland |
| Best paying company | PayPal | PayPal |
| Best paying industry | Health Care | Retail |
There are a few differences between a senior sourcing specialist and a procurement analyst in terms of educational background:
| Senior Sourcing Specialist | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between senior sourcing specialists' and procurement analysts' demographics:
| Senior Sourcing Specialist | Procurement Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 51.8% Female, 48.2% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.5% Asian, 7.9% 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% |