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The differences between contract administrator/contract specialists and acquisition specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a contract administrator/contract specialist and an acquisition specialist. Additionally, an acquisition specialist has an average salary of $65,906, which is higher than the $53,425 average annual salary of a contract administrator/contract specialist.
The top three skills for a contract administrator/contract specialist include contract management, purchase orders and contract terms. The most important skills for an acquisition specialist are program management, market research, and DOD.
| Contract Administrator/Contract Specialist | Acquisition Specialist | |
| Yearly salary | $53,425 | $65,906 |
| Hourly rate | $25.69 | $31.69 |
| Growth rate | 9% | 9% |
| Number of jobs | 61,764 | 17,543 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 63% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
A Contract Administrator and Contract Specialist reviews all contracts of the company. They are responsible for reviewing every contract if it is for the company's benefit and if there are hidden risks. This person also helps draft future contracts and inspects new contracts during deals and negotiations. Contract Specialists update existing contracts, propose amendments if necessary, and advise the company on contracts that have risks that may affect the activities of the company.
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 administrator/contract specialists and acquisition specialists have different pay scales, as shown below.
| Contract Administrator/Contract Specialist | Acquisition Specialist | |
| Average salary | $53,425 | $65,906 |
| Salary range | Between $35,000 And $79,000 | Between $43,000 And $99,000 |
| Highest paying City | Annapolis, MD | Washington, DC |
| Highest paying state | Maryland | New Jersey |
| Best paying company | Jacobs Engineering Group | Amazon |
| Best paying industry | Technology | Finance |
There are a few differences between a contract administrator/contract specialist and an acquisition specialist in terms of educational background:
| Contract Administrator/Contract Specialist | Acquisition Specialist | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract administrator/contract specialists' and acquisition specialists' demographics:
| Contract Administrator/Contract Specialist | Acquisition Specialist | |
| Average age | 48 | 48 |
| Gender ratio | Male, 30.0% Female, 70.0% | Male, 51.9% Female, 48.1% |
| Race ratio | Black or African American, 8.8% Unknown, 4.4% Hispanic or Latino, 12.2% Asian, 7.6% White, 66.3% American Indian and Alaska Native, 0.8% | 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% |
| LGBT Percentage | 7% | 7% |