In the face of the challenges posed by the COVID-19 pandemic, supply chain professionals are working harder than ever – but their compensation is significantly increasing accordingly.
As a recruitment consultancy dedicated entirely to supply chain management, at Argentus we write about a wide range of topics at the intersection of talent and the supply chain – from career advice to hiring advice to supply chain industry news.
But perhaps no topic sparks more interest from Argentus readers than salary information, which makes sense: people in the industry want to see how their current situation is shaping up. Especially in a hot job market like this.
How much do people earn? How much extra pay or vacation do they get? How high is your job satisfaction?
This information is also useful for hiring managers and executives. In a candidate market where companies compete for talent in the supply chain, like we do now, you want to assess your risk of losing candidates. (For example, if you are a Canadian supply chain company that only offers 2 weeks leave to candidates with 5 years leave, we have bad news for you.)
Salary surveys are always popular. And in the midst of the COVID-19 era, they’re even more relevant than ever. How are the supply chain professionals faring given the tremendous difficulties of the past 18 months? How many lost their jobs? Have salaries gone up or down? After a year and a half of increased stress and challenges, how many would recommend the field?
These questions are relevant to Everyone in the industry. And a new poll is out aimed at answering them – The Canada Supply Chain Salary Report 2021. The survey was developed by the international non-profit Association for Supply Chain Management (ASCM) in partnership with Supply Chain Canada. It’s the biggest salary survey of the year and it has some interesting and encouraging data on where the field is in 2021.
Here are some of the best top-line results from the survey featuring our takeaways:
Overall salary is strong.
- Salaries for supply chain professionals in Canada have increased 13%possibly due to increased demand for supply chain skills during the COVID-19 pandemic. 45% salaries have increased over the past year. The median total salary was $83,000and the median total cash compensation was $89,850.
- Compensation for new graduates remains competitive. The average starting salary for supply chain professionals this year was $55,000.
Most employees have kept their jobs during the pandemic, and most are happy with their careers. But the workload is heavier than ever.
- 93% of professionals kept their jobs during the COVID-19 pandemic and 74% no economic impact reported as a result of the pandemic. Only 3% reported layoffs, and only 10% reported a pay cut.
- Not surprisingly, the workload for supply chain professionals has increased. COVID-19 continues to change the game for what we ask of our supply chain professionals. At the start of the pandemic, Supply Chain Canada reported that 72% of supply chains were disrupted in some way as a result of the pandemic. Since then, the magnitude of the disruption has only increased with the continued shortage of shipping containers. As a result, a significant number (48%) of the supply chain experts reported an increased workload compared to the previous year. Only 6% saw her workload decrease, and 26% reported no change in their workload.
- Despite the challenges, job satisfaction remains high. 69% of supply chain professionals rated their career as an 8 or higher on a scale of 1 to 10. In total, 88% of respondents have a positive impression of their career. 91% of respondents agreed they were more likely to recommend Supply Chain to others 70% said they were very likely to recommend the profession.
Work-life balance is robust and the gender pay gap is closing.
- Despite the increased workload, candidates report better work-life balance and show that companies recognize the sacrifices their employees make and adapt accordingly. 78% of respondents received 3 or more weeks of paid vacation and 36% of respondents received 4 or more weeks. This is closely related to our recent post on paid leave for supply chain professionals.
- The gender pay gap – which we highlighted last year – is still a factor, but it continues to narrow. By gender, men (representative 51% of respondents) earn an average salary of $86,250while women (representative 44% of respondents) earn $82,000. As the survey finds, the gender pay gap in the supply chain is much narrower than in the broader workforce (where women typically earn only average wages 69% the salaries of their male colleagues). We believe gender parity is a key factor behind the increasing importance of the supply chain in the workforce and in companies. It is therefore encouraging to see that the gender pay gap is a thing of the past.
The last year and a half has been tough for many – and supply chain professionals are no exception, and supply chain is thriving. Businesses are demanding more than ever from their supply chains in the face of tremendous disruption. Many face mental and physical health problems. Given the prospect of a “great resignation” on the horizon, the picture is not entirely rosy. But it’s nice to see the field moving forward in terms of salary, gender parity and work-life balance.