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The differences between contracts managers and senior managers, procurement can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a contracts manager and a senior manager, procurement. Additionally, a senior manager, procurement has an average salary of $121,433, 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 senior manager, procurement are supply chain, strategic sourcing, and supplier performance.
| Contracts Manager | Senior Manager, Procurement | |
| Yearly salary | $72,691 | $121,433 |
| Hourly rate | $34.95 | $58.38 |
| Growth rate | -6% | -6% |
| Number of jobs | 13,218 | 36,873 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 70% |
| Average age | 47 | 47 |
| Years of experience | 6 | 6 |
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.
Senior Procurement Managers oversee the procurement department of the company. They manage the procurement needs of the organization and network with vendors to keep their database of suppliers updated. Senior Procurement Managers secure competitive prices from their suppliers so that they can save up on costs. As such, Senior Procurement Managers also have visibility on the spending of each department in the organization so that they will never go over budget.
Contracts managers and senior managers, procurement have different pay scales, as shown below.
| Contracts Manager | Senior Manager, Procurement | |
| Average salary | $72,691 | $121,433 |
| Salary range | Between $45,000 And $116,000 | Between $84,000 And $175,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | McKinsey & Company Inc | McKinsey & Company Inc |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a contracts manager and a senior manager, procurement in terms of educational background:
| Contracts Manager | Senior Manager, Procurement | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between contracts managers' and senior managers, procurement' demographics:
| Contracts Manager | Senior Manager, Procurement | |
| Average age | 47 | 47 |
| Gender ratio | Male, 54.0% Female, 46.0% | Male, 72.8% Female, 27.2% |
| 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, 3.8% Hispanic or Latino, 12.5% Asian, 7.5% White, 66.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |