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The differences between procurement services 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 procurement services manager and a contracts manager. Additionally, a procurement services manager has an average salary of $101,878, which is higher than the $72,691 average annual salary of a contracts manager.
The top three skills for a procurement services manager include strategic sourcing, supplier performance and RFP. The most important skills for a contracts manager are contract management, contract administration, and contract terms.
| Procurement Services Manager | Contracts Manager | |
| Yearly salary | $101,878 | $72,691 |
| Hourly rate | $48.98 | $34.95 |
| Growth rate | -6% | -6% |
| Number of jobs | 88,689 | 13,218 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 63% |
| Average age | 47 | 47 |
| Years of experience | 6 | 6 |
Procurement services managers require strong interpersonal and communication skills, good finance abilities, and the ability to manage budgets as costs. This position calls upon the direction and coordination of personnel activities including buying, selling, and distributing materials, equipment, machinery, and supplies, as well as staff hiring and training oversight. They will also prepare and process supply and equipment requisitions and purchase orders.
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 services managers and contracts managers have different pay scales, as shown below.
| Procurement Services Manager | Contracts Manager | |
| Average salary | $101,878 | $72,691 |
| Salary range | Between $70,000 And $147,000 | Between $45,000 And $116,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | California |
| Best paying company | - | McKinsey & Company Inc |
| Best paying industry | - | Technology |
There are a few differences between a procurement services manager and a contracts manager in terms of educational background:
| Procurement Services Manager | Contracts Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | Stanford University | Stanford University |
Here are the differences between procurement services managers' and contracts managers' demographics:
| Procurement Services Manager | Contracts Manager | |
| Average age | 47 | 47 |
| Gender ratio | Male, 62.2% Female, 37.8% | Male, 54.0% Female, 46.0% |
| Race ratio | Black or African American, 9.1% Unknown, 3.8% Hispanic or Latino, 12.3% Asian, 7.4% White, 67.0% 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% |