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Contracts specialist vs acquisition specialist

The differences between contracts specialists and acquisition specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an acquisition specialist has an average salary of $65,906, which is higher than the $63,727 average annual salary of a contracts specialist.

The top three skills for a contracts specialist include veterans, DOD and contract administration. The most important skills for an acquisition specialist are program management, market research, and DOD.

Contracts specialist vs acquisition specialist overview

Contracts SpecialistAcquisition Specialist
Yearly salary$63,727$65,906
Hourly rate$30.64$31.69
Growth rate-6%9%
Number of jobs27,24417,543
Job satisfaction--
Most common degreeBachelor's Degree, 62%Bachelor's Degree, 63%
Average age4448
Years of experience-6

What does a contracts specialist do?

A contract specialist is responsible for evaluating contract agreements between the business and its clients. Contract specialists write beneficial deals that would develop good, professional working partnerships. They negotiate terms with clients, analyzing bid offers, review legislation processes and regulations, provide immediate resolution for breach of contracts, manage procurement proposals, and communicate with potential and existing clients for any amendments and clarifications. A contract specialist must have excellent communication and negotiation skills and broad knowledge of legal terminologies and contract styles.

What does an acquisition specialist do?

An acquisition specialist is in charge of developing strategies to acquire goods and services on behalf of a company. Their responsibilities include coordinating with different departments to gather data, conducting extensive research and analysis to find cost-efficient materials and resources, liaising with external parties such as vendors and suppliers, negotiating contracts, and arranging payment plans. Furthermore, an acquisition specialist may also participate in a company's employment procedures and recruit potential employees in adherence to the company's vision and mission.

Contracts specialist vs acquisition specialist salary

Contracts specialists and acquisition specialists have different pay scales, as shown below.

Contracts SpecialistAcquisition Specialist
Average salary$63,727$65,906
Salary rangeBetween $40,000 And $99,000Between $43,000 And $99,000
Highest paying CityWashington, DCWashington, DC
Highest paying stateDelawareNew Jersey
Best paying companyGoogleAmazon
Best paying industryGovernmentFinance

Differences between contracts specialist and acquisition specialist education

There are a few differences between a contracts specialist and an acquisition specialist in terms of educational background:

Contracts SpecialistAcquisition Specialist
Most common degreeBachelor's Degree, 62%Bachelor's Degree, 63%
Most common majorBusinessBusiness
Most common collegeWestern Carolina UniversityUniversity of Pennsylvania

Contracts specialist vs acquisition specialist demographics

Here are the differences between contracts specialists' and acquisition specialists' demographics:

Contracts SpecialistAcquisition Specialist
Average age4448
Gender ratioMale, 40.2% Female, 59.8%Male, 51.9% Female, 48.1%
Race ratioBlack or African American, 6.4% Unknown, 4.6% Hispanic or Latino, 9.4% Asian, 8.8% White, 70.4% American Indian and Alaska Native, 0.4%Black or African American, 9.3% Unknown, 4.4% Hispanic or Latino, 12.6% Asian, 7.6% White, 65.3% American Indian and Alaska Native, 0.8%
LGBT Percentage11%7%

Differences between contracts specialist and acquisition specialist duties and responsibilities

Contracts specialist example responsibilities.

  • Manage multiple task orders in an IDIQ environment.
  • Provide clarity on medical and drug cover benefits for a Medicare advantage insurance plan.
  • Manage inventory and distribution activities of the third-party logistics provider.
  • Develop marketing strategies to expand Medicaid manage care provider network and enrollment.
  • Manage the influenza vaccine annual contracting and RFP process for a national specialty pharmaceutical distributor.
  • Process purchase orders and subcontracts, including managing insurance requirement compliance and certify payroll documentation.
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Acquisition specialist example responsibilities.

  • Manage SharePoint for deliverables and maintain the CDRL lists and IMS for management.
  • Review and update all packaging BOMs at all mills to achieve accurate perpetual inventories.
  • Program manager responsible for managing the successful launch of new vehicle products at OEM customer sites.
  • Manage multiple customer relationships and sales-cycle using CRM Salesforce.com.
  • Support: NAVSEA - PEO EXW PMS3771 for the LCAC program.
  • Order and submit NEPA and SHPO reports.
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Contracts specialist vs acquisition specialist skills

Common contracts specialist skills
  • Veterans, 7%
  • DOD, 7%
  • Contract Administration, 6%
  • Contract Terms, 5%
  • Contract Management, 5%
  • Market Research, 5%
Common acquisition specialist skills
  • Program Management, 8%
  • Market Research, 7%
  • DOD, 7%
  • Logistics, 5%
  • PowerPoint, 5%
  • Acquisition Strategy, 4%

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