Post job

Contracts specialist vs contract analyst

The differences between contracts specialists and contract analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a contracts specialist has an average salary of $63,727, which is higher than the $54,544 average annual salary of a contract analyst.

The top three skills for a contracts specialist include veterans, DOD and contract administration. The most important skills for a contract analyst are customer service, contract management, and contract terms.

Contracts specialist vs contract analyst overview

Contracts SpecialistContract Analyst
Yearly salary$63,727$54,544
Hourly rate$30.64$26.22
Growth rate-6%9%
Number of jobs27,24458,593
Job satisfaction--
Most common degreeBachelor's Degree, 62%Bachelor's Degree, 67%
Average age4440
Years of experience-4

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 a contract analyst do?

A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.

Contracts specialist vs contract analyst salary

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

Contracts SpecialistContract Analyst
Average salary$63,727$54,544
Salary rangeBetween $40,000 And $99,000Between $39,000 And $74,000
Highest paying CityWashington, DCJersey City, NJ
Highest paying stateDelawareNew Jersey
Best paying companyGoogleAstraZeneca
Best paying industryGovernmentPharmaceutical

Differences between contracts specialist and contract analyst education

There are a few differences between a contracts specialist and a contract analyst in terms of educational background:

Contracts SpecialistContract Analyst
Most common degreeBachelor's Degree, 62%Bachelor's Degree, 67%
Most common majorBusinessBusiness
Most common collegeWestern Carolina UniversityUniversity of Pennsylvania

Contracts specialist vs contract analyst demographics

Here are the differences between contracts specialists' and contract analysts' demographics:

Contracts SpecialistContract Analyst
Average age4440
Gender ratioMale, 40.2% Female, 59.8%Male, 41.2% Female, 58.8%
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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1%
LGBT Percentage11%7%

Differences between contracts specialist and contract analyst 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.
  • Show more

Contract analyst example responsibilities.

  • Manage RFQ generation, proposal analysis, documentation, PO generation, and subcontractor and supplier follow-up.
  • Lead and educate internal stakeholders in the proper use of document review and approval processes using SharePoint document management tools.
  • Conduct internal audits of the company and audits of subcontractor performance and adherence to Medicare and Medicaid regulations.
  • Coordinate and monitor ethics training with NFA and vendor.
  • Identify issues and conduct investigations of ethics and compliance relate matters.
  • Develop and issue structured requests for information (RFI, RFQ, and RFP).
  • Show more

Contracts specialist vs contract analyst skills

Common contracts specialist skills
  • Veterans, 7%
  • DOD, 7%
  • Contract Administration, 6%
  • Contract Terms, 5%
  • Contract Management, 5%
  • Market Research, 5%
Common contract analyst skills
  • Customer Service, 10%
  • Contract Management, 8%
  • Contract Terms, 5%
  • SQL, 5%
  • HR, 4%
  • Data Entry, 4%

Browse business and financial jobs