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The differences between contract analysts and contracts managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a contract analyst, becoming a contracts manager takes usually requires 4-6 years. Additionally, a contracts manager has an average salary of $72,691, which is higher than the $54,544 average annual salary of a contract analyst.
The top three skills for a contract analyst include customer service, contract management and contract terms. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Contract Analyst | Contracts Manager | |
| Yearly salary | $54,544 | $72,691 |
| Hourly rate | $26.22 | $34.95 |
| Growth rate | 9% | -6% |
| Number of jobs | 58,593 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 63% |
| Average age | 40 | 47 |
| Years of experience | 4 | 6 |
A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.
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 analysts and contracts managers have different pay scales, as shown below.
| Contract Analyst | Contracts Manager | |
| Average salary | $54,544 | $72,691 |
| Salary range | Between $39,000 And $74,000 | Between $45,000 And $116,000 |
| Highest paying City | Jersey City, NJ | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | AstraZeneca | McKinsey & Company Inc |
| Best paying industry | Pharmaceutical | Technology |
There are a few differences between a contract analyst and a contracts manager in terms of educational background:
| Contract Analyst | Contracts Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between contract analysts' and contracts managers' demographics:
| Contract Analyst | Contracts Manager | |
| Average age | 40 | 47 |
| Gender ratio | Male, 41.2% Female, 58.8% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | 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% |