Post job

Procurement analyst vs contracts specialist

The differences between procurement analysts and contracts specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a procurement analyst has an average salary of $64,448, which is higher than the $63,727 average annual salary of a contracts specialist.

The top three skills for a procurement analyst include purchase orders, supplier performance and customer service. The most important skills for a contracts specialist are veterans, DOD, and contract administration.

Procurement analyst vs contracts specialist overview

Procurement AnalystContracts Specialist
Yearly salary$64,448$63,727
Hourly rate$30.98$30.64
Growth rate11%-6%
Number of jobs75,15427,244
Job satisfaction--
Most common degreeBachelor's Degree, 69%Bachelor's Degree, 62%
Average age4444
Years of experience4-

What does a procurement analyst do?

Procurement analysts procure favorable contracts by acting as liaisons between suppliers and their employers. They are hired by organizations that rely on supply chain management to analyze and evaluate potential suppliers, prepare reports about monthly supply costs, and negotiate contracts. With good critical thinking skills, these procurement analysts who are also known as purchasing analysts, evaluate vendors and suppliers based on the speed of delivery, quality, and price. They use quantitative methods to support fact-based decision-making to become competitive and to ensure cost-efficiency and high quality of the products and services.

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.

Procurement analyst vs contracts specialist salary

Procurement analysts and contracts specialists have different pay scales, as shown below.

Procurement AnalystContracts Specialist
Average salary$64,448$63,727
Salary rangeBetween $45,000 And $91,000Between $40,000 And $99,000
Highest paying CityWashington, DCWashington, DC
Highest paying stateMarylandDelaware
Best paying companyPayPalGoogle
Best paying industryRetailGovernment

Differences between procurement analyst and contracts specialist education

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

Procurement AnalystContracts Specialist
Most common degreeBachelor's Degree, 69%Bachelor's Degree, 62%
Most common majorBusinessBusiness
Most common collegeNorthwestern UniversityWestern Carolina University

Procurement analyst vs contracts specialist demographics

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

Procurement AnalystContracts Specialist
Average age4444
Gender ratioMale, 47.7% Female, 52.3%Male, 40.2% Female, 59.8%
Race ratioBlack or African American, 8.2% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.8% White, 66.4% American Indian and Alaska Native, 0.2%Black 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%
LGBT Percentage12%11%

Differences between procurement analyst and contracts specialist duties and responsibilities

Procurement analyst example responsibilities.

  • Manage SQL reporting database server that are used by procurement analyst and pull into SharePoint.
  • Lead a software implementation process and training program for company's ERP (Advantage/Sapphire) system.
  • Manage, negotiate and source MRO products and services, for building, machinery and grounds maintenance.
  • Perform reviews of select teams and programs to determine whether VBA and federal policies and guidelines are effectively implement and manage.
  • Prepare budget estimates base on the P6 schedule in accordance with NASA PPBE guidance.
  • Function with senior management on RFP and RFQ as well as periodically report detailed analysis of vendor responses.
  • Show more

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

Procurement analyst vs contracts specialist skills

Common procurement analyst skills
  • Purchase Orders, 9%
  • Supplier Performance, 7%
  • Customer Service, 6%
  • Logistics, 4%
  • Strategic Sourcing, 4%
  • Data Analysis, 4%
Common contracts specialist skills
  • Veterans, 7%
  • DOD, 7%
  • Contract Administration, 6%
  • Contract Terms, 5%
  • Contract Management, 5%
  • Market Research, 5%

Browse business and financial jobs