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The differences between contracts managers and paralegals 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 paralegal takes usually requires 6-12 months. Additionally, a contracts manager has an average salary of $72,691, which is higher than the $49,943 average annual salary of a paralegal.
The top three skills for a contracts manager include contract management, contract administration and contract terms. The most important skills for a paralegal are litigation, legal research, and law firm.
| Contracts Manager | Paralegal | |
| Yearly salary | $72,691 | $49,943 |
| Hourly rate | $34.95 | $24.01 |
| Growth rate | -6% | 14% |
| Number of jobs | 13,218 | 5,177 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 51% |
| Average age | 47 | 46 |
| Years of experience | 6 | 12 |
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.
Paralegals are law firm or legal department employees who work on cases with lawyers. They handle different activities, usually administrative or clerical, such as organizing and maintaining files, updating records, and managing correspondences, among others. Paralegals also handle different activities directly related to active cases being worked on by lawyers in the firm or department. They assist lawyers on cases by preparing materials needed for trials, conducting legal research, verifying trial facts, helping during interviews, getting statements from those involved in the case, and creating presentation materials. Paralegals should have knowledge of laws and should be familiar with landmark cases.
Contracts managers and paralegals have different pay scales, as shown below.
| Contracts Manager | Paralegal | |
| Average salary | $72,691 | $49,943 |
| Salary range | Between $45,000 And $116,000 | Between $35,000 And $70,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | McKinsey & Company Inc | Arnall Golden Gregory |
| Best paying industry | Technology | Professional |
There are a few differences between a contracts manager and a paralegal in terms of educational background:
| Contracts Manager | Paralegal | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 51% |
| Most common major | Business | Legal Support Services |
| Most common college | Stanford University | Harvard University |
Here are the differences between contracts managers' and paralegals' demographics:
| Contracts Manager | Paralegal | |
| Average age | 47 | 46 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 22.4% Female, 77.6% |
| 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, 9.2% Unknown, 4.8% Hispanic or Latino, 20.2% Asian, 5.7% White, 59.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 11% | 9% |