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The differences between contract administrator/contract specialists and contracts managers 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 a contracts manager. Additionally, a contracts manager has an average salary of $72,691, 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 a contracts manager are contract management, contract administration, and contract terms.
| Contract Administrator/Contract Specialist | Contracts Manager | |
| Yearly salary | $53,425 | $72,691 |
| Hourly rate | $25.69 | $34.95 |
| Growth rate | 9% | -6% |
| Number of jobs | 61,764 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 63% |
| Average age | 48 | 47 |
| 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.
A contract manager is responsible for finalizing contract agreements between the company and its clients, revising documents, creating procurement proposals, and managing breach of contracts immediately. Contract managers respond to clients' inquiries and concerns about the contract's terms, conditions, and adjustment requests. They should be highly knowledgeable with legal terms and legislation regulations, ensuring that documents align with their objectives. The contract manager should also stay updated with the latest trends to meet contract demands, identify more business opportunities to boost revenues, and achieve profitability goals.
Contract administrator/contract specialists and contracts managers have different pay scales, as shown below.
| Contract Administrator/Contract Specialist | Contracts Manager | |
| Average salary | $53,425 | $72,691 |
| Salary range | Between $35,000 And $79,000 | Between $45,000 And $116,000 |
| Highest paying City | Annapolis, MD | San Francisco, CA |
| Highest paying state | Maryland | California |
| Best paying company | Jacobs Engineering Group | McKinsey & Company Inc |
| Best paying industry | Technology | Technology |
There are a few differences between a contract administrator/contract specialist and a contracts manager in terms of educational background:
| Contract Administrator/Contract Specialist | Contracts Manager | |
| Most common degree | Bachelor's Degree, 60% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between contract administrator/contract specialists' and contracts managers' demographics:
| Contract Administrator/Contract Specialist | Contracts Manager | |
| Average age | 48 | 47 |
| Gender ratio | Male, 30.0% Female, 70.0% | Male, 54.0% Female, 46.0% |
| 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, 9.0% Unknown, 3.8% Hispanic or Latino, 12.2% Asian, 7.4% White, 67.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 11% |