Buyer

FACTS:

• A JC Penney's buyer developed pantyhose.
• The median annual earnings for wholesale and retail buyers was $31,560 in 1998.
• LL Bean is America's top retail apparel company with $1.1 billion in revenue, according to the list of top private companies.

THE JOB:

Buyers purchase finished goods, such as clothes or furniture, for their companies that then resell them to consumers. Buyers often decide which products their companies will sell. This requires an ability to accurately predict what goods will appeal to consumers. Applicants should expect to begin as a trainee, purchasing clerk, junior buyer or assistant buyer.

SKILLS:

Employers look for applicants who know their company and its products as well as wholesaling and retailing practices. Buyers must be computer literate and able to analyze technical and financial data. They must be able to make decisions quickly and take risks. To do so, they should possess good communication and negotiating skills.

EDUCATION:

Educational requirements vary with the employer's size. For instance, large employers prefer applicants who have completed their bachelor’s degrees with a business emphasis. Certification is optional and is rarely required for employment or advancement. However, it is a sign of experience and good skills. Several types of certificates are available; all require passing exams and meeting specific experience requirements.

OUTLOOK:

Technological advances, employer consolidation and centralization of tasks have reduced the demand for buyers. Most job openings will occur when people transfer to other occupations or leave the field. Applicants who have a bachelor’s degree, combined with industry experience and knowledge of a technical field, will be at an advantage.

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