Annual Average Salary of a Retail Buyer

National Salary Scales

• The Bureau of Labor Statistics estimated that 116,900 people were employed as buyers in 2009, with an annual average salary of $55,480. At the lower end of the scale, 10 percent earned $28,870 or less, while 25 percent earned $36,800 or less. The median salary was $48,650 a year. On the higher end of the scale, 25 percent made $65,870 or more, while 10 percent made $88,830 or more.
  
  

Salaries by Industry

• The largest employer of buyers in 2009, according to the Bureau of Labor Statistics, was the company management sector. The average salary was $61,910. This was followed by the wholesale electronic markets sector, at $61,460, and grocery wholesalers, at $55,910 a year. Grocery stores come fourth, with salaries averaging $41,110 a year, followed by machinery and equipment wholesalers, at $51,720 a year.
  
  

Salaries by Location

• Buyers in New Jersey enjoyed the highest salaries, averaging $67,330 a year in 2009, according to the BLS. This was followed by New York, Minnesota and Pennsylvania. Illinois came fifth at $59,340 annually. In terms of city, buyers employed in the Lake County-Kenosha County area in Illinois and Wisconsin had the highest average income, at $80,540 a year. This was followed by the Reno-Sparks area in Nevada; the Austin-Round Rock area of Texas; and the New York-White Plains-Wayne area of New York and New Jersey, which had an average buyer's salary of $73,600 a year.
  
  

Qualifications and Outlook

• Although formal educational requirements vary by employer, a bachelor's degree in a business-related field is often required. A master's degree is often needed for advancement to higher-level positions. Buyers will also be trained within the company. The length and content of this training program will vary depending on the nature of the retail firm. The total amount of time spent training will vary from one to five years. New employees will begin with stock-taking and accountancy-related tasks, while those with more experience will advance to more negotiation-specific and decision-making activities.