Let me share with you my two main lessons that helped me to grow my Procurement Salary.
First years in Procurement
I started in Procurement in the year 2000, before that I had few other jobs until I found myself here in Procurement and Supply Chain management
And already in the year 2006 I was a sourcing responsible for the big chunk of the company business. The size of the business I was responsible for was 800 Mln Euro (more than a billion US dollars)! So in the age of 30 years old I was handling the business of 800 Mln business. And that was really cool feeling!
And my salary was growing proportionally to the size of the business i was responsible for!
What was the key for my rapid success in the organization and in the entire company?
The answer is simple – I found the right place for the Procurement in the company structure. And I talked to the right people about that. Also I could prove my ability to bring added value to the company. This was the deciding factor which works as a trigger for the management or any top executive. When you will really master this one thing and you would be able to demonstrate that clearly and consistently – your career will really boost and your pay out (your earnings) will grow much faster.
As you see in this graph – I found the key after 4 years of my work in my first company. And immediately my area of responsibility increased. As a result, my salary grew almost proportionally to that .
So I started to earn more than 5’000 Euro per month. In the age of 30 I was very proud of myself. And after that I took the next step – in 2009 I became the manager of Procurement department in the other company, in the UK.
Later I could scale up my area of responsibility. And I grew my earnings big times once again…
You can believe me that you can do the same growth of your career and the same growth of your Procurement salary too!
If I could do that big jump in the age before 30 years old – you can do it too! Because I did it without procurement education, not being the smartest guy in my Procurement department, without online courses, mentors, without any webinars or career bootcamps… So of course YOU CAN DO IT TOO!
So the things I will propose you to concentrate on are really tried by me. They really worked in my career, and I guarantee you – they still work today.
So this main success factor for my career growth (and salary increases) was UNDERSTANDING the role of Procurement in the entire company. And the impact which Procurement can make on the company
Lesson 1: Increase your business responsibility
Grow your business responsibility and you will have the right to ask for the salary increase. Because you will be more valuable for the company!
If you are saving 5% on 10’000$ contract – you are doing a good job! But if you would save 5% on 10’000’000$ – then your impact would be much higher! And you would contribute much more to the profit of the entire company!
This idea might seem to be too obvious – but it really works! So use this logic when you plan your career!
Lesson 2: Generate Profit for your company!
The second lesson from my career is not that obvious. But it is even more powerful!
Do you want to know HOW can you generate the extra profit for the company you are working for? Of course – decreasing COSTS.
So this is my main take away for you on HOW to grow Procurement salary and to boost your career:
Generate Profit for your company
increase your business responsibility
More details are in my Podcast episode:)
P.S. Want to know more about career in Procurement?
Or you struggle with Procurement questions/dilemmas but don’t know who can help you?
Ask me! Book the Coaching/Consultancy session with me for ANY PRICE! All the details are here
P.P.S. Share our Podcast with your colleagues and send us your questions
Listen to the other podcast episodes here https://futureprocurement.net/category/podcast/