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The differences between procurement consultants 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 procurement consultant and a contracts manager. Additionally, a procurement consultant has an average salary of $81,254, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a procurement consultant include strategic sourcing, procure-to-pay and HR. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Procurement Consultant | Contracts Manager | |
| Yearly salary | $81,254 | $72,691 |
| Hourly rate | $39.06 | $34.95 |
| Growth rate | -6% | -6% |
| Number of jobs | 38,005 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 63% |
| Average age | 47 | 47 |
| Years of experience | 6 | 6 |
A procurement consultant is an individual who is an expert in purchasing or procurement. Your duties will include researching and analyzing the supply marketplace, developing business requirements, and managing supplier relationships in collaboration with internal stakeholders, and managing and negotiating supply agreements across all commodities and complexity. Additionally, you are expected to participate in market intelligence analysis and assess productivity, costs, and demand patterns by collecting and interpreting data. As a procurement consultant, you are also responsible for managing and negotiating supply agreements.
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.
Procurement consultants and contracts managers have different pay scales, as shown below.
| Procurement Consultant | Contracts Manager | |
| Average salary | $81,254 | $72,691 |
| Salary range | Between $64,000 And $101,000 | Between $45,000 And $116,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | McKinsey & Company Inc | McKinsey & Company Inc |
| Best paying industry | Technology | Technology |
There are a few differences between a procurement consultant and a contracts manager in terms of educational background:
| Procurement Consultant | Contracts Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between procurement consultants' and contracts managers' demographics:
| Procurement Consultant | Contracts Manager | |
| Average age | 47 | 47 |
| Gender ratio | Male, 66.3% Female, 33.7% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 9.2% Unknown, 3.8% Hispanic or Latino, 12.4% Asian, 7.5% White, 66.8% 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% |