Purchasing & Acquisitions Management
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|
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:
- 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:
- 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:
- 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|
Who Is Getting a Bachelor’s Degree in Purchasing & Acquisitions Management?
At the countrywide level, the racial-ethnic distribution of purchasing, procurement/acquisitions and contracts management majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||22|
|Hispanic or Latino||89|
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.
Amount of Education Required for Careers Related to Purchasing & Acquisitions Management
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.
|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%|
|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%|
|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%|
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|
|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!
Explore Major by State
District of Columbia
Majors Related to Purchasing & Acquisitions Management
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|
|Supply Chain Management||9,732|
|Research and Development Management||194|
|Customer Service Management||184|
*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.
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
More about our data sources and methodologies.
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