Good news: In these days of financial austerity and vanishing jobs, Purchasing pros are more valuable to their companies than ever. Many employers are recognizing this where it counts most — in your paycheck.

The annual salary survey from the highly-respected Purchasing.com people shows that total compensation packages (salary plus bonus) for purchasing professionals increased a healthy 4% in 2008.

More good news: The prospects remain good for 2009.

What’s driving this train?

Purchasing has moved up the food chain, in terms of its visibility and the resources it garners.

• One reason: Companies are taking a hard look at low-cost sourcing strategies.
• Another reason: Purchasing pros are expected to bring tougher negotiation skills to the table, when dealing with suppliers.
• Finally, management recognizes Purchasing staffers with bonuses for hitting cost-savings goals (below target, on target, above target)

While salaries remain important, bonuses are the bread and butter.

Nearly two-thirds of Purchasing pros received fatter checks due to bonus payments — that averaged 14% of their annual salaries.

Further breakdowns:

• Overall average salary, $88,206
• Average salary for men, $95,427; for women, $71,951
• C.P.M. certified staffers, $99,539; C.P.I.M. staffers, $96,361
• Average salary by company size: under $125M was $68,422; $126M – $500M was $89,528; over $500M was $106,660.

Tags: cost-savings goals, low cost, purchasing, sourcing, suppliers