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The differences between strategic buyers 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 strategic buyer, becoming a procurement analyst takes usually requires 2-4 years. Additionally, a strategic buyer has an average salary of $74,725, which is higher than the $64,448 average annual salary of a procurement analyst.
The top three skills for a strategic buyer include supply chain, purchase orders and strategic sourcing. The most important skills for a procurement analyst are purchase orders, supplier performance, and customer service.
| Strategic Buyer | Procurement Analyst | |
| Yearly salary | $74,725 | $64,448 |
| Hourly rate | $35.93 | $30.98 |
| Growth rate | - | 11% |
| Number of jobs | 23,156 | 75,154 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| Average age | 48 | 44 |
| Years of experience | 6 | 4 |
A strategic buyer defines detailed plans and objectives for each project as per the organization and business unit purchasing strategies. Besides undertaking benchmarking and updating activity and project progress, strategic buyers also control the supply chain actions and supply chain risks to keep the supply chain secure. Also, these professionals negotiate favorable, effective, and precise terms and conditions as per the rules. Moreover, strategic buyers control the projects' risks and create an effective action plan to achieve all project objectives.
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.
Strategic buyers and procurement analysts have different pay scales, as shown below.
| Strategic Buyer | Procurement Analyst | |
| Average salary | $74,725 | $64,448 |
| Salary range | Between $51,000 And $109,000 | Between $45,000 And $91,000 |
| Highest paying City | Pleasanton, CA | Washington, DC |
| Highest paying state | California | Maryland |
| Best paying company | Entegris | PayPal |
| Best paying industry | Manufacturing | Retail |
There are a few differences between a strategic buyer and a procurement analyst in terms of educational background:
| Strategic Buyer | Procurement Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between strategic buyers' and procurement analysts' demographics:
| Strategic Buyer | Procurement Analyst | |
| Average age | 48 | 44 |
| Gender ratio | Male, 61.7% Female, 38.3% | Male, 47.7% Female, 52.3% |
| Race ratio | Black or African American, 8.9% Unknown, 4.4% Hispanic or Latino, 12.3% Asian, 7.7% White, 66.0% 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% |