Posted April 18, 2023

The Results Are In: 2023 Logistics Salary Survey

The Results Are In: 2023 Logistics Salary Survey
By Gigi Tino

The logistics and supply chain industry continues to present a unique challenge to companies seeking talent. Demand for skilled logistics talent has been on the rise pre-pandemic, but the spike in demand during the pandemic has not slowed down. While companies still face challenges in recruiting new talent, the industry is still promising for job seekers with a wide array of opportunities available. Logistics Management and Peer Research Group’s 2023 Salary Survey, conducted in February, demonstrated another positive salary increase for logistics employees even amidst a turbulent economic environment. The results are in, and they are promising for the future of logistics professionals.

The 2023 survey found that logistics professionals are earning on average $121,150 annually, which is a slight decrease from the $126,215 average reported in 2022. However, despite the slight decrease in average reported salary, 67% of respondents say their salaries increased from 2022 averages. Additionally, 29% say their salaries remained the same and only 4% report that they are earning less than they did in 2022. The average salary increase was by 9%, and though the average decrease was by 11%, it is lower than the average decrease of 19% reported in 2022. Overall, logistics salaries are keeping to the trend of the last 3 years as the averages increase alongside the high demand for talent.

This year’s survey respondents are made up of 82% males and 18% females; the average salary reported by the former group being $121,310 and the latter reporting an average of $88,275. A diverse group of logistics professionals responded to this year’s survey, with many being in a managerial position. 16% of respondents are logistics managers and directors, 10% are operations managers or directors, and nine percent are warehouse managers or supervisors. Engineers and engineering managers, transportation managers, and purchasing managers each make up about seven percent of respondents as well. VP’s and general managers, who make up four percent of respondents, reported the highest average salary of about $209,750.

The report demonstrated a strong connection between both age and experience and salary level. Respondents that were 65 or older reported a salary average of $115,550. Those aged between 55 and 64 had the highest average of $119,470, followed by ages 45 to 54 at $107,100, ages 35 to 44 at $85,000, and an average of $61,950 for respondents under 35. Experience in their position itself also correlated to a higher salary. 26% of survey respondents report holding their positions for over 10 years; another 26% have held their positions for between three to five years; 21% have held their positions for one to two years; and 18% have held their positions for six to 10 years. Only nine percent of respondents reported being in their position for less than a year. Responding professionals that have been in their positions for over 10 years also have the highest average salary at $117,880, followed by professionals in six to 10 years at $110,450. The average salary continues to decrease respectively to each group of lower experience, with the exception of professionals in their current positions for only one to two years earning $103,375 compared to those in their position for three to five years earning $95,580. The correlation between both age as well as experience in current position proves that it can truly pay to stay!

Another key trend observable in the report is the connection between job satisfaction and higher salaries. 46% of logistics professionals report they are “always open” to new opportunities, followed by 31% stating they are happy where they are, and 20% only passively looking; only three percent of respondents are actively searching for new job opportunities. However, those that do say they are happy with their current positions also report higher salaries, a $126,395 average, compared to those actively looking for a new position at $110,100. While it is clear a higher salary is a factor in job satisfaction, there is still more to the puzzle for logistics companies when it comes to finding and retaining top talent. Logistics professionals can expect salary increases in coming years in addition to even better benefit packages and work-life balance, and more training and education opportunities.

Whether you plan to stay in your current position, or search for a new opportunity, logistics salaries are still on the rise. The numbers are strong and encouraging for industry job seekers. It is still a good time to find your next logistics position; logistics talent demand has not slowed down, and salaries remain high, even with the current economic challenges.