Average Procurement Process Analyst Salary in Monaco for 2024

In this article, we will look at the average Procurement Process Analyst salary for 2024 in Monaco and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does a Procurement Process Analyst Make in Monaco?

A Procurement Process Analyst working in Monaco will typically earn around 52,460 EUR per year, and this can range from the lowest average salary of about 26,780 EUR to the highest average salary of 76,280 EUR.

Average Annual Salary
52,460 EUR
Average Monthly Salary
4,371 EUR

Lowest Annual Salary
26,780 EUR
Lowest Monthly Salary
2,231 EUR

Highest Annual Salary
76,280 EUR
Highest Monthly Salary
6,356 EUR

These are average salaries for a Procurement Process Analyst in Monaco and include benefits such as housing and transport. It's also possible for a Procurement Process Analyst to earn more or less than the average salaries shown above.

Procurement Process Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Procurement Process Analyst Salaries in Monaco

So we've looked at the average salaries a Procurement Process Analyst will earn in Monaco. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Procurement Process Analyst can earn between 26,780 EUR and 76,280 EUR on average in Monaco. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Procurement Process Analyst in Monaco is 48,160 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 48,160 EUR, and 50% of the population earn more than 48,160 EUR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Procurement Process Analyst salary in Monaco, 25% of the population are earning less than 35,500 EUR while 75% of the population earn more than 35,500 EUR.

75% of the population earn less than 60,400 EUR, and 25% of the population earn more than 60,400 EUR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Procurement Process Analyst Salary by Experience Level in Monaco

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average procurement process analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Procurement Process Analyst in Monaco that has less than two years of experience can expect to earn somewhere in the region of 29,160 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Procurement Process Analyst salary would increase to 39,640 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Procurement Process Analyst, the average salary would be 54,180 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 61,580 EUR.
  • 15 - 20 Years Experience. A Procurement Process Analyst with 15 to 20 years of experience can earn an average of 67,320 EUR.
  • 20+ Years Experience. For a Procurement Process Analyst with more than 20 years, the expected average salary increases to 71,400 EUR.

Average Salary by Experience Chart

0-2 Years
29,160 EUR
2-5 Years +23%
39,640 EUR
5-10 Years +42%
54,180 EUR
10-15 Years +17%
61,580 EUR
15-20 Years +10%
67,320 EUR
20+ Years +6%
71,400 EUR

Procurement Process Analyst Salary by Education Level in Monaco

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Procurement Process Analyst in Monaco based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Procurement Process Analyst in Monaco with a high school education can earn an average salary of 37,740 EUR.

  • Certificate or Diploma. A Procurement Process Analyst in Monaco with a certificate or diploma education can earn an average salary of 44,180 EUR.

  • Bachelor's Degree. A Procurement Process Analyst in Monaco with a bachelor's degree education can earn an average salary of 57,360 EUR.

  • Master's Degree. A Procurement Process Analyst in Monaco with a master's degree education can earn an average salary of 71,400 EUR.

Average Salary by Education Chart

High School
37,740 EUR
Certificate or Diploma +13%
44,180 EUR
Bachelor's Degree +31%
57,360 EUR
Master's Degree +32%
71,400 EUR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Monaco is around 21,200 to 63,600 EUR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Procurement Process Analyst Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Monaco, a male procurement process analyst will earn an average of 51,900 EUR, while a female procurement process analyst will earn around 48,200 EUR.

This means that a male procurement process analyst earns approximately 8% more than a female procurement process analyst for performing the same job.

Average Salary by Gender Chart in Monaco

Male
51,900 EUR
Female -8%
48,200 EUR

Procurement Process Analyst Average Pay Raise in Monaco

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Procurement Process Analyst in Monaco is around 7% every 30 months.

The national average pay raise across all professions and industries in Monaco is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 7 ÷ 30 ) × 12  = 3%

What this means is that a Procurement Process Analyst in Monaco can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Monaco for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Monaco.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Procurement Process Analyst Bonus and Incentive Rates in Monaco

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Procurement Process Analyst is a low bonus based job, with 34% of employees reporting at least one bonus in the last 12 months.

66% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 5%.

Received Bonus
34%
No Bonus
66%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Monaco earn approximately 6% more than private sector employees in the same role.

Public Sector
52,880 EUR
Private Sector -6%
49,820 EUR

Salaries for Jobs Similar to a Procurement Process Analyst

In the table below, we have salary information for jobs that are similar to a Procurement Process Analyst in Monaco.

Job Title Category Salary
Asset Management Associate Purchasing and Inventory 43,760 EUR
Asset Protection Associate Purchasing and Inventory 41,820 EUR
Asset Protection Specialist Purchasing and Inventory 45,720 EUR
Assistant Buyer Purchasing and Inventory 41,820 EUR
Buyer Purchasing and Inventory 66,260 EUR
Capacity Planner Purchasing and Inventory 52,180 EUR
Category Leader Purchasing and Inventory 48,560 EUR
Category Management Specialist Purchasing and Inventory 45,600 EUR
Category Manager Purchasing and Inventory 53,120 EUR
Channel Services Representative Purchasing and Inventory 50,240 EUR
Contracts Manager Purchasing and Inventory 52,820 EUR
Contracts Specialist Purchasing and Inventory 46,720 EUR
Demand Planner Purchasing and Inventory 48,760 EUR
Demand Planning Manager Purchasing and Inventory 58,520 EUR
Distribution Assistant Purchasing and Inventory 42,400 EUR
Distribution Associate Purchasing and Inventory 38,700 EUR
Distribution Manager Purchasing and Inventory 85,760 EUR
Inventory Analyst Purchasing and Inventory 41,480 EUR
Inventory Control Clerk Purchasing and Inventory 25,680 EUR
Inventory Control Manager Purchasing and Inventory 58,800 EUR
Inventory Management Associate Purchasing and Inventory 45,260 EUR
Inventory Specialist Purchasing and Inventory 44,720 EUR
Logistics Engineer Purchasing and Inventory 41,480 EUR
Master Planner Purchasing and Inventory 45,060 EUR
Material Handler Purchasing and Inventory 28,860 EUR
Material Planning Specialist Purchasing and Inventory 38,060 EUR
Merchandise Manager Purchasing and Inventory 52,460 EUR
Procurement Administrator Purchasing and Inventory 54,280 EUR
Procurement Agent Purchasing and Inventory 36,020 EUR
Procurement Analyst Purchasing and Inventory 57,320 EUR
Procurement Assistant Purchasing and Inventory 36,160 EUR
Procurement Associate Purchasing and Inventory 45,580 EUR
Procurement Clerk Purchasing and Inventory 24,280 EUR
Procurement Engineer Purchasing and Inventory 45,000 EUR
Procurement Manager Purchasing and Inventory 86,520 EUR
Procurement Officer Purchasing and Inventory 25,220 EUR
Procurement Specialist Purchasing and Inventory 43,340 EUR
Production Planner Purchasing and Inventory 48,940 EUR
Project Buyer Purchasing and Inventory 59,480 EUR
Purchaser Purchasing and Inventory 67,120 EUR
Purchasing Agent Purchasing and Inventory 41,900 EUR
Purchasing Assistant Purchasing and Inventory 27,040 EUR
Purchasing Manager Purchasing and Inventory 91,960 EUR
Purchasing Officer Purchasing and Inventory 44,140 EUR
Purchasing Supervisor Purchasing and Inventory 60,840 EUR
Shipping and Receiving Clerk Purchasing and Inventory 23,260 EUR
Shipping Coordinator Purchasing and Inventory 46,400 EUR
Stock Clerk Purchasing and Inventory 26,080 EUR
Stock Regulator Purchasing and Inventory 30,800 EUR
Storage Manager Purchasing and Inventory 54,700 EUR
Store Keeper Purchasing and Inventory 23,140 EUR
Stores and Logistics Coordinator Purchasing and Inventory 47,760 EUR
Supply Chain Analyst Purchasing and Inventory 64,560 EUR
Supply Chain Coordinator Purchasing and Inventory 49,560 EUR
Supply Chain Development Manager Purchasing and Inventory 83,140 EUR
Supply Chain Director Purchasing and Inventory 87,040 EUR
Supply Chain Manager Purchasing and Inventory 90,980 EUR
Supply Planner Purchasing and Inventory 44,780 EUR
Warehouse Assistant Purchasing and Inventory 19,160 EUR
Warehouse Clerk Purchasing and Inventory 19,060 EUR
Warehouse Executive Purchasing and Inventory 73,820 EUR
Warehouse Lead Purchasing and Inventory 54,140 EUR
Warehouse Manager Purchasing and Inventory 74,940 EUR
Warehouse Supervisor Purchasing and Inventory 57,080 EUR
Wholesale Buyer Purchasing and Inventory 67,320 EUR

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