Purchase analyst vs contract analyst

The differences between purchase analysts and contract analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a purchase analyst and a contract analyst. Additionally, a purchase analyst has an average salary of $64,581, which is higher than the $54,544 average annual salary of a contract analyst.

The top three skills for a purchase analyst include purchase orders, supplier performance and continuous improvement. The most important skills for a contract analyst are customer service, contract management, and contract terms.

Purchase analyst vs contract analyst overview

	Purchase Analyst	Contract Analyst
Yearly salary	$64,581	$54,544
Hourly rate	$31.05	$26.22
Growth rate	11%	9%
Number of jobs	88,542	58,593
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 67%
Average age	44	40
Years of experience	4	4

What does a purchase analyst do?

A purchase analyst is responsible for looking at the market outlook and determining what and when to buy when ordering supplies. They are responsible for making an investment in a product or technology, and contracting with vendors. You have varied duties and responsibilities that include researching product prices and comparisons, determining price history and cost-effectiveness, and providing leadership for logistics, resource management decisions, and sourcing. You will also be responsible for purchasing equipment from suppliers and working closely with leadership to develop sourcing strategies.

What does a contract analyst do?

A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.

Purchase analyst vs contract analyst salary

Purchase analysts and contract analysts have different pay scales, as shown below.

	Purchase Analyst	Contract Analyst
Average salary	$64,581	$54,544
Salary range	Between $42,000 And $98,000	Between $39,000 And $74,000
Highest paying City	Milford, MA	Jersey City, NJ
Highest paying state	New Jersey	New Jersey
Best paying company	MPS Horticulture	AstraZeneca
Best paying industry	Retail	Pharmaceutical

Differences between purchase analyst and contract analyst education

There are a few differences between a purchase analyst and a contract analyst in terms of educational background:

	Purchase Analyst	Contract Analyst
Most common degree	Bachelor's Degree, 70%	Bachelor's Degree, 67%
Most common major	Business	Business
Most common college	Northwestern University	University of Pennsylvania

Purchase analyst vs contract analyst demographics

Here are the differences between purchase analysts' and contract analysts' demographics:

	Purchase Analyst	Contract Analyst
Average age	44	40
Gender ratio	Male, 45.8% Female, 54.2%	Male, 41.2% Female, 58.8%
Race ratio	Black or African American, 8.4% Unknown, 4.5% Hispanic or Latino, 9.1% Asian, 10.6% White, 67.2% American Indian and Alaska Native, 0.2%	Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1%
LGBT Percentage	12%	7%

Differences between purchase analyst and contract analyst duties and responsibilities

Purchase analyst example responsibilities.

Transport purchases and contract and manage carriers (freight forwarders in order to arrange and manage the transportation of purchases.
Write RFI and RFP documents and manage the process for each.
Compile and manage the RFP excel database containing incumbent supplier pricing and alternative supplier pricing.
Manage purchasing data within proprietary applications and ERP systems with accuracy.
Manage and determine obsolete and/or slow moving inventory for all above mention commodities.
Manage factory activities for key commodities encompassing resource management in materials and production.

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Contract analyst example responsibilities.

Manage RFQ generation, proposal analysis, documentation, PO generation, and subcontractor and supplier follow-up.
Lead and educate internal stakeholders in the proper use of document review and approval processes using SharePoint document management tools.
Conduct internal audits of the company and audits of subcontractor performance and adherence to Medicare and Medicaid regulations.
Coordinate and monitor ethics training with NFA and vendor.
Identify issues and conduct investigations of ethics and compliance relate matters.
Develop and issue structured requests for information (RFI, RFQ, and RFP).

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Purchase analyst vs contract analyst skills

Common purchase analyst skills

Purchase Orders, 13%
Supplier Performance, 11%
Continuous Improvement, 5%
ERP, 5%
Cost Analysis, 5%
Logistics, 4%

Common contract analyst skills

Customer Service, 10%
Contract Management, 8%
Contract Terms, 5%
SQL, 5%
HR, 4%
Data Entry, 4%

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Updated January 8, 2025

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