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The differences between directors of global sourcing and contracts managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a director of global sourcing and a contracts manager. Additionally, a director of global sourcing has an average salary of $142,539, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a director of global sourcing include supply chain, strategic sourcing and global sourcing. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Director Of Global Sourcing | Contracts Manager | |
| Yearly salary | $142,539 | $72,691 |
| Hourly rate | $68.53 | $34.95 |
| Growth rate | -6% | -6% |
| Number of jobs | 24,222 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 63% |
| Average age | 47 | 47 |
| Years of experience | 6 | 6 |
A director of global sourcing spearheads and oversees an organization's supply chain operations at a worldwide scale. Although their duties may vary upon their industry of employment, it usually includes conducting foreign market research and analyses to find business and client opportunities, setting goals and sales objectives, establishing project roadmaps and guidelines, and negotiating with potential business partners, building positive relationships in the process. Moreover, as a director of global sourcing, it is essential to manage and empower teams to reach goals while implementing the company's standards and policies.
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.
Directors of global sourcing and contracts managers have different pay scales, as shown below.
| Director Of Global Sourcing | Contracts Manager | |
| Average salary | $142,539 | $72,691 |
| Salary range | Between $102,000 And $198,000 | Between $45,000 And $116,000 |
| Highest paying City | Oakland, CA | San Francisco, CA |
| Highest paying state | Washington | California |
| Best paying company | Nike | McKinsey & Company Inc |
| Best paying industry | Finance | Technology |
There are a few differences between a director of global sourcing and a contracts manager in terms of educational background:
| Director Of Global Sourcing | Contracts Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between directors of global sourcing' and contracts managers' demographics:
| Director Of Global Sourcing | Contracts Manager | |
| Average age | 47 | 47 |
| Gender ratio | Male, 80.0% Female, 20.0% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 9.0% Unknown, 3.8% Hispanic or Latino, 12.1% Asian, 7.4% White, 67.4% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 11% | 11% |