CHICAGO , June 22, 2021 /PRNewswire/ -- The Association for Supply Chain Management (ASCM), the global leader in supply chain education, transformation, innovation and leadership, today released the findings of its 2021 Supply Chain Salary and Career Report . While the past two years of this annual survey conducted by ASCM showed the pay gap between men and women under 40 narrowing, it finally closed this year. Women under the age of 40 report a median salary of $81,000 annually. Men in the same age group report a median salary of $79,000 annually.
The data for women over 40, however, is not equitable. The difference between men and women's salaries in that age group ranges from $12,000 to $23,000 , with men earning more. According to the report, it is difficult to say why pay disparities still remain for those over 40 — whether these women began their careers at lower salaries or stepped out of the workforce to care for families. Either way, ASCM strongly encourages companies to incorporate policies that ensure women are supported and primed for continuing professional growth.
Questions pertaining to ethnicity and race were added to the survey this year. White respondents report a median salary that is 12% higher than Black respondents and 14% higher than Latino respondents. The disparity was less for Asian respondents.
"It's not enough to just report these disparities; supply chain organizations must lead the way by creating environment where diverse talent is valued, included and developed," said ASCM CEO Abe Eshkenazi , CSCP, CPA, CAE. "The need for supply chain professionals has never been greater, so now is the time to expand the aperture to include diversity of thought, influence and input — particularly for women and people of color."
Supply Chain Professionals Less Impacted by the Covid-19 Pandemic
The report illustrates that supply chain careers proved to be one of the most resilient throughout the pandemic in terms of salaries, job stability and new opportunities. Nearly all respondents (95%) remained in their jobs, and more than half (59%) felt no economic impact.
Salaries continued to rise, as did workloads and the need for upskilling in digital supply chain, leadership and supply chain risk management. As expected, more supply chain professionals worked remotely than ever before. What has remained constant, however, is that professionals are very satisfied with their supply chain careers and would highly recommend the field as a rewarding path for others. Despite challenging times, nearly 90% of respondents have a positive outlook of their career.
"The multitude of disruptions over the past year placed a spotlight on the critical role supply chain professionals play in building resilience and keeping our society running under the most difficult circumstances," added Eshkenazi. "This report confirms what we already knew: Supply chain careers are not only invaluable, but also offer the opportunity to build a stable career that has a meaningful impact on people's lives."
Additional key findings from the ASCM 2021 Salary and Career Report include the following:
- Solid salaries: The median salary for a supply chain professional is $86,000 — 38% above the national median salary. The typical starting salary for individuals entering the supply chain industry is $60,000 .
- Good benefits: 81% of respondents are satisfied with their benefits, and almost 70% have paid maternity, paternity and medical leave.
- APICS certifications matter: Those who hold at least one APICS certification report a median salary of $90,000 , which is 27% higher than those without a certification. Additionally, 21% of those with an APICS certification and undergraduate supply chain degree received a promotion within the last year.
- Fast job placement: Whether just graduating college or already working in the field, about one-third of respondents say they found a job in less than a month. More than half secured employment within three months of starting their search.
To help meet the growing need for supply chain professionals, ASCM is actively developing multiple private and public partnerships to help people who are unemployed or underemployed prepare for a new supply chain career. ASCM educational programs focus on several key supply chain competencies including inventory management, logistics and consumer distribution principles, and basic management skills.
For more information on supply chain careers and education, please visit ascm.org/supply-chain-careers .
About ASCM
The Association for Supply Chain Management (ASCM) is the global leader in supply chain organizational transformation, innovation and leadership. As the largest nonprofit association for supply chain, ASCM is an unbiased partner, connecting companies around the world to the newest thought leadership on all aspects of supply chain. ASCM is built on a foundation of APICS certification and training spanning 60 years. Now, ASCM is driving innovation in the industry with new products, services and partnerships that enable companies to further optimize their supply chains, secure their competitive advantage and positively influence their bottom lines. For more information, visit ascm.org .
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SOURCE Association for Supply Chain Management (ASCM)