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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 | Contracts Specialist | |
| Yearly salary | $64,448 | $63,727 |
| Hourly rate | $30.98 | $30.64 |
| Growth rate | 11% | -6% |
| Number of jobs | 75,154 | 27,244 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 62% |
| Average age | 44 | 44 |
| Years of experience | 4 | - |
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.
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 analysts and contracts specialists have different pay scales, as shown below.
| Procurement Analyst | Contracts Specialist | |
| Average salary | $64,448 | $63,727 |
| Salary range | Between $45,000 And $91,000 | Between $40,000 And $99,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Maryland | Delaware |
| Best paying company | PayPal | |
| Best paying industry | Retail | Government |
There are a few differences between a procurement analyst and a contracts specialist in terms of educational background:
| Procurement Analyst | Contracts Specialist | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Western Carolina University |
Here are the differences between procurement analysts' and contracts specialists' demographics:
| Procurement Analyst | Contracts Specialist | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.7% Female, 52.3% | Male, 40.2% Female, 59.8% |
| Race ratio | Black 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 Percentage | 12% | 11% |