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The differences between global procurement managers 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 global procurement manager and a contracts manager. Additionally, a global procurement manager has an average salary of $103,155, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a global procurement manager include global procurement, strategic sourcing and project management. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Global Procurement Manager | Contracts Manager | |
| Yearly salary | $103,155 | $72,691 |
| Hourly rate | $49.59 | $34.95 |
| Growth rate | -6% | -6% |
| Number of jobs | 33,299 | 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 global procurement manager is in charge of developing diverse procurement strategies to deliver optimal services to clients. Among their responsibilities include understanding and identifying project needs, performing extensive research and analysis, gathering and analyzing data from various departments, performing risk assessments, and negotiating with potential vendors and suppliers, building positive relationships along the way. Moreover, as a global procurement manager, they must lead and encourage the workforce to reach goals, all while implementing the company's policies and regulations.
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.
Global procurement managers and contracts managers have different pay scales, as shown below.
| Global Procurement Manager | Contracts Manager | |
| Average salary | $103,155 | $72,691 |
| Salary range | Between $73,000 And $145,000 | Between $45,000 And $116,000 |
| Highest paying City | Oakland, 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 global procurement manager and a contracts manager in terms of educational background:
| Global Procurement Manager | 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 global procurement managers' and contracts managers' demographics:
| Global Procurement Manager | Contracts Manager | |
| Average age | 47 | 47 |
| Gender ratio | Male, 68.3% Female, 31.7% | 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, 67.5% 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% |