Question 1

Do you need a JD to be a contracts manager?

Accepted Answer

No, you do not need a Juris Doctor (JD) to be a contracts manager. When companies have high volumes of clients and agreements, a contract manager is used to make sure that schedules are being met, contracts are being signed, honored, completed, and properly issued and stored.

Question 2

How do I become a successful contract manager?

Accepted Answer

To become a successful contract manager, there are some different path options you should follow. Success comes from having a vision of which industry you want to work in, then researching what your ideal company is looking for in a candidate.

Question 3

How much do contract managers make?

Accepted Answer

Contract managers make $85,000 annually, or $44 an hour, on average. The range may vary based on education, certifications, work experience, and location. Industry and company scale also makes a large difference. As an example, contract managers may work in construction, healthcare, finance.

Question 4

How much does a senior contracts managers earn?

Accepted Answer

Senior Contract Managers earn between 107,600 to 143,370 annually. Contract managers prepare, negotiate and administer commercial and government contracts in accordance with the law.

This position may supervise a team of Contract Managers, resolve complex problems, compliance issues, and delays. To reach a senior contract manager position would take at least five years of work experience. This work brings in another layer of working with people, more than contracts alone.

Question 5

Is contracts manager a good job?

Accepted Answer

Yes, a contract manager is a good job that provides tangible value. This job gives you opportunities to develop skills in project management, budgeting, risk management, accounting, and business law. The professional and technical skills from this work result in skills that are always in demand.

Question 6

What is a contract manager's job description?

Accepted Answer

A contract manager's job description is being responsible for managing and administering contracts and the process by which they are created and agreed upon. A contract manager works to ensure that legal documents move smoothly and quickly from creation, through collaboration and negotiation, to signature.

Question 7

What makes a good contract manager?

Accepted Answer

What makes a good contract manager is their understanding of contract terms and financial risk management and their negotiation and persuasion tactics.

To be effective as a contract manager, you need a wide range of interpersonal and technical skills, a broad base of relevant subject matter knowledge, and certain innate personal characteristics.

Frequently asked questions about contracts managers

Questions about becoming a contracts manager