An inventory manager is a professional responsible for overseeing and managing the inventory of a company. This includes supervising inventory specialists, creating inventory control systems, and ensuring that products are available to customers in a timely manner. The salary for an inventory manager can vary depending on factors such as location, experience, and the size of the company.
Inventory Manager Average Salary
According to data from the Bureau of Labor Statistics (BLS), the median annual salary for inventory managers in the United States is $63,780. However, the range can vary widely, with some managers earning as much as $100,000 or more per year.
Factors that Affect Salary
There are a number of factors that can affect the salary of an inventory manager. Some of the most important include:
- Location: Inventory managers in major urban areas tend to earn higher salaries than those working in smaller towns or rural areas.
- Experience: Inventory managers with more experience tend to earn higher salaries than those just starting out in the field.
- Industry: Inventory managers working in industries such as manufacturing or retail tend to earn higher salaries than those in other industries.
- Company size: Inventory managers working for large companies tend to earn higher salaries than those working for small businesses.
Education and Training
In order to become an inventory manager, it is typically necessary to have at least a bachelor’s degree in business, logistics or a related field. Additionally, many companies provide on-the-job training for new inventory managers. Some employers also prefer candidates with experience in inventory management, logistics or supply chain management.
The BLS projects that employment of inventory managers will grow by 3 percent from 2020 to 2030, which is slower than the average for all occupations. However, with the increase in e-commerce and the use of technology in inventory management, the demand of Inventory managers may increase.
Overall, an inventory manager can expect a salary that falls within a wide range, depending on a variety of factors. With experience, education, and training, it is possible to earn a higher salary in this field. Additionally, inventory managers can also advance in their career by moving into higher level management positions, such as supply chain management.