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The differences between directors of strategic 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 strategic sourcing and a contracts manager. Additionally, a director of strategic sourcing has an average salary of $109,521, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a director of strategic sourcing include strategic sourcing, supply chain and supplier performance. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Director Of Strategic Sourcing | Contracts Manager | |
| Yearly salary | $109,521 | $72,691 |
| Hourly rate | $52.65 | $34.95 |
| Growth rate | -6% | -6% |
| Number of jobs | 21,887 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 63% |
| Average age | 47 | 47 |
| Years of experience | 6 | 6 |
A director of strategic sourcing is responsible for evaluating the production and manufacturing processes and developing initiatives to improve business operations and purchasing techniques. Directors of strategic sourcing negotiate contracts with trusted suppliers and vendors for high-quality resources and cost-efficient materials. They also conduct data and statistical analysis with the current market trends to identify supply opportunities and sourcing costs. A director of strategic sourcing handles the budget allocation for vendor assessments, requiring them to be highly-organizational and ensure the timely distribution of materials.
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 strategic sourcing and contracts managers have different pay scales, as shown below.
| Director Of Strategic Sourcing | Contracts Manager | |
| Average salary | $109,521 | $72,691 |
| Salary range | Between $68,000 And $174,000 | Between $45,000 And $116,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Apple | McKinsey & Company Inc |
| Best paying industry | Health Care | Technology |
There are a few differences between a director of strategic sourcing and a contracts manager in terms of educational background:
| Director Of Strategic Sourcing | Contracts Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between directors of strategic sourcing' and contracts managers' demographics:
| Director Of Strategic Sourcing | Contracts Manager | |
| Average age | 47 | 47 |
| Gender ratio | Male, 79.1% Female, 20.9% | Male, 54.0% Female, 46.0% |
| 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, 9.0% 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% |