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Purchasing & Acquisitions Management Major

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Purchasing & Acquisitions Management

575 Bachelor's Degrees Annually
376 Master's Degrees Annually
#50 in Popularity
$103,330 Median Salary

Types of Degrees Purchasing & Acquisitions Management Majors Are Getting

The following table lists how many purchasing, procurement/acquisitions and contracts management graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Bachelor’s Degree 575
Master’s Degree 376
Graduate Certificate 203
Basic Certificate 59
Associate’s Degree 45
Undergraduate Certificate 31
Doctor’s Degree 5

What Purchasing & Acquisitions Management Majors Need to Know

People with careers related to purchasing, procurement/acquisitions and contracts management were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Purchasing, Procurement/Acquisitions and Contracts Management Majors

Purchasing, Procurement/Acquisitions and Contracts Management majors often go into careers in which the following knowledge areas are important:

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  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Skills for Purchasing, Procurement/Acquisitions and Contracts Management Majors

A major in purchasing, procurement/acquisitions and contracts management prepares you for careers in which the following skill-sets are crucial:

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  • Speaking - Talking to others to convey information effectively.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Purchasing, Procurement/Acquisitions and Contracts Management Majors

Some of the most crucial abilities to master while a purchasing, procurement/acquisitions and contracts management student include the following:

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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Speech Clarity - The ability to speak clearly so others can understand you.

What Can You Do With a Purchasing & Acquisitions Management Major?

Below is a list of occupations associated with purchasing, procurement/acquisitions and contracts management:

Job Title Job Growth Rate Median Salary
Administrative Services Managers 10.1% $96,180
Agents and Business Managers of Artists, Performers, and Athletes 4.7% $66,040
Purchasing Managers 5.4% $118,940

Who Is Getting a Bachelor’s Degree in Purchasing & Acquisitions Management?

575 Bachelor's Degrees Annually
40% Percent Women
34% Percent Racial-Ethnic Minorities*
This major tends to be male dominated. About 60% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of purchasing, procurement/acquisitions and contracts management majors is as follows:

Racial-Ethnic Diversity of Purchasing, Procurement/Acquisitions and Contracts Management Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 63
Black or African American 22
Hispanic or Latino 89
White 234
International Students 139
Other Races/Ethnicities 28

Geographic Diversity

Students from other countries are interested in Purchasing, Procurement/Acquisitions and Contracts Management, too. About 24.2% of those with this major are international students.

How Much Do Purchasing & Acquisitions Management Majors Make?

Salaries According to BLS

Purchasing, Procurement/Acquisitions and Contracts Management majors often go into careers where salaries can range from $90,930 to $106,050 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Purchasing & Acquisitions Management Major  ( 90930 to 106050 )
0K
250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
0K
250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
0K
250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
0K
250K

Some careers associated with purchasing, procurement/acquisitions and contracts management require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for purchasing, procurement/acquisitions and contracts management careers below.

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Education Level Percentage of Workers
Less than a High School Diploma 0.1%
High School Diploma - or the equivalent (for example, GED) 14.2%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 4.4%
Some College Courses 10.6%
Associate’s Degree (or other 2-year degree) 6.1%
Bachelor’s Degree 33.3%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. 1.6%
Master’s Degree 9.7%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 0.1%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 0.8%
Doctoral Degree 19.5%

Online Purchasing & Acquisitions Management Programs

In the 2018-2019 academic year, 57 schools offered some type of purchasing, procurement/acquisitions and contracts management program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 9 2
Certificate (1-2 years) 22 20
Certificate (2-4 Years) 0 0
Associate’s Degree 24 20
Bachelor’s Degree 12 7
Post-Baccalaureate 9 2
Master’s Degree 7 5
Post-Master’s 1 0
Doctor’s Degree (Research) 1 1
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Purchasing & Acquisitions Management Worth It?

The median salary for a purchasing, procurement/acquisitions and contracts management grad is $103,330 per year. This is based on the weighted average of the most common careers associated with the major.

This is 159% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,268,600 after 20 years!

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You may also be interested in one of the following majors related to purchasing, procurement/acquisitions and contracts management.

Major Number of Grads
General Business Administration and Management 350,924
Interior Design Management 16,189
Organizational Leadership 12,591
Supply Chain Management 9,732
Operations Management 5,802
Office Administration 5,025
Project Management 3,344
Non-Profit/Public/Organizational Management 3,071
Retail Management 833
Transportation/Mobility Management 731
E-Commerce 233
Research and Development Management 194
Customer Service Management 184

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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