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The differences between contracts managers and managing administrators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a contracts manager, becoming a managing administrator takes usually requires 1-2 years. Additionally, a managing administrator has an average salary of $75,025, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a contracts manager include contract management, contract administration and contract terms. The most important skills for a managing administrator are oversight, administrative functions, and payroll.
| Contracts Manager | Managing Administrator | |
| Yearly salary | $72,691 | $75,025 |
| Hourly rate | $34.95 | $36.07 |
| Growth rate | -6% | 5% |
| Number of jobs | 13,218 | 64,677 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 58% |
| Average age | 47 | 43 |
| Years of experience | 6 | 2 |
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.
A managing administrator is responsible for monitoring business operations by ensuring the efficiency of administrative functions, delegating tasks to administrative staff, and tracking project deliverables. Managing administrators respond to the clients' inquiries and complaints, directing them to appropriate personnel to address their concerns. They also handle the budget for the administrative department, allocating adequate resources, and maintaining the office inventory. A managing administrator must have excellent communication and leadership skills, especially on training new staff and teaching best practices for maximum productivity.
Contracts managers and managing administrators have different pay scales, as shown below.
| Contracts Manager | Managing Administrator | |
| Average salary | $72,691 | $75,025 |
| Salary range | Between $45,000 And $116,000 | Between $47,000 And $119,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | McKinsey & Company Inc | Cornerstone Research |
| Best paying industry | Technology | Finance |
There are a few differences between a contracts manager and a managing administrator in terms of educational background:
| Contracts Manager | Managing Administrator | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between contracts managers' and managing administrators' demographics:
| Contracts Manager | Managing Administrator | |
| Average age | 47 | 43 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 37.6% Female, 62.4% |
| Race ratio | 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% | Black or African American, 8.8% Unknown, 5.1% Hispanic or Latino, 12.5% Asian, 8.8% White, 64.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 9% |