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The differences between acquisition specialists and contracts administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an acquisition specialist and a contracts administrator. Additionally, an acquisition specialist has an average salary of $65,906, which is higher than the $52,876 average annual salary of a contracts administrator.
The top three skills for an acquisition specialist include program management, market research and DOD. The most important skills for a contracts administrator are contract administration, customer service, and contract management.
| Acquisition Specialist | Contracts Administrator | |
| Yearly salary | $65,906 | $52,876 |
| Hourly rate | $31.69 | $25.42 |
| Growth rate | 9% | -6% |
| Number of jobs | 17,543 | 58,038 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 61% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
An acquisition specialist is in charge of developing strategies to acquire goods and services on behalf of a company. Their responsibilities include coordinating with different departments to gather data, conducting extensive research and analysis to find cost-efficient materials and resources, liaising with external parties such as vendors and suppliers, negotiating contracts, and arranging payment plans. Furthermore, an acquisition specialist may also participate in a company's employment procedures and recruit potential employees in adherence to the company's vision and mission.
Contract administrators create and manage legal contracts from which the company participates. They ensure that all entities to the contract will accomplish their obligations, as indicated in the contract. They usually work for larger organizations that might be involved with different or highly complex contracts. These organizations spread across a range of industries, including government, construction, and healthcare. Their responsibilities include addressing any conflicts of questions regarding the contract, analyzing the possible risks posed by contracts, and working alongside the legal and procurement teams.
Acquisition specialists and contracts administrators have different pay scales, as shown below.
| Acquisition Specialist | Contracts Administrator | |
| Average salary | $65,906 | $52,876 |
| Salary range | Between $43,000 And $99,000 | Between $35,000 And $78,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | New Jersey | Maryland |
| Best paying company | Amazon | Ngam Advisors, L.P. |
| Best paying industry | Finance | Finance |
There are a few differences between an acquisition specialist and a contracts administrator in terms of educational background:
| Acquisition Specialist | Contracts Administrator | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between acquisition specialists' and contracts administrators' demographics:
| Acquisition Specialist | Contracts Administrator | |
| Average age | 48 | 48 |
| Gender ratio | Male, 51.9% Female, 48.1% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.3% Unknown, 4.4% Hispanic or Latino, 12.6% Asian, 7.6% White, 65.3% American Indian and Alaska Native, 0.8% | Black or African American, 9.2% Unknown, 4.4% Hispanic or Latino, 12.6% Asian, 7.7% White, 65.3% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |