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The differences between senior sourcing specialists and purchasing 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 purchasing buyer. Additionally, a senior sourcing specialist has an average salary of $79,213, which is higher than the $47,471 average annual salary of a purchasing buyer.
The top three skills for a senior sourcing specialist include linkedin, HR and applicant tracking systems. The most important skills for a purchasing buyer are purchase orders, logistics, and cost savings.
| Senior Sourcing Specialist | Purchasing Buyer | |
| Yearly salary | $79,213 | $47,471 |
| Hourly rate | $38.08 | $22.82 |
| Growth rate | -6% | - |
| Number of jobs | 7,764 | 21,158 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 55% |
| 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.
In a retail setting, a purchasing buyer is primarily responsible for devising strategies for procuring supplies, ensuring that it aligns with the company's needs and standards. They are also responsible for conducting thorough marketing research and analysis, coordinating with different departments to gather and process documentation, liaising and negotiating with vendors and suppliers, and keeping track of all purchasing orders to ensure accuracy and timeliness. Furthermore, as a purchasing buyer, it is essential to maintain records of all transactions and submit regular reports to supervisors.
Senior sourcing specialists and purchasing buyers have different pay scales, as shown below.
| Senior Sourcing Specialist | Purchasing Buyer | |
| Average salary | $79,213 | $47,471 |
| Salary range | Between $60,000 And $103,000 | Between $35,000 And $62,000 |
| Highest paying City | San Francisco, CA | Goleta, CA |
| Highest paying state | California | California |
| Best paying company | PayPal | Aramco Services Company |
| Best paying industry | Health Care | Automotive |
There are a few differences between a senior sourcing specialist and a purchasing buyer in terms of educational background:
| Senior Sourcing Specialist | Purchasing Buyer | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 55% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior sourcing specialists' and purchasing buyers' demographics:
| Senior Sourcing Specialist | Purchasing Buyer | |
| Average age | 48 | 48 |
| Gender ratio | Male, 51.8% Female, 48.2% | Male, 41.9% Female, 58.1% |
| 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, 9.0% Unknown, 4.4% Hispanic or Latino, 12.4% Asian, 7.8% White, 65.7% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |