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The differences between senior sourcing specialists and contracts administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a senior sourcing specialist and a contracts administrator. Additionally, a senior sourcing specialist has an average salary of $79,213, which is higher than the $52,876 average annual salary of a contracts administrator.
The top three skills for a senior sourcing specialist include linkedin, HR and applicant tracking systems. The most important skills for a contracts administrator are contract administration, customer service, and contract management.
| Senior Sourcing Specialist | Contracts Administrator | |
| Yearly salary | $79,213 | $52,876 |
| Hourly rate | $38.08 | $25.42 |
| Growth rate | -6% | -6% |
| Number of jobs | 7,764 | 58,038 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Average age | 48 | 48 |
| Years of experience | 6 | 6 |
The job of a senior sourcing specialist is to help companies implement more effective processes and systems to reduce costs and increase profitability. You will be responsible for negotiating with suppliers to procure materials, products, and services at the best possible price using your in-depth knowledge of their industry and strategic sourcing strategies. As a senior source specialist, you are expected to develop and implement inventory optimization strategies across the company. You will also need to find or develop solutions to improve company outsourcing and spending.
Contract administrators create and manage legal contracts from which the company participates. They ensure that all entities to the contract will accomplish their obligations, as indicated in the contract. They usually work for larger organizations that might be involved with different or highly complex contracts. These organizations spread across a range of industries, including government, construction, and healthcare. Their responsibilities include addressing any conflicts of questions regarding the contract, analyzing the possible risks posed by contracts, and working alongside the legal and procurement teams.
Senior sourcing specialists and contracts administrators have different pay scales, as shown below.
| Senior Sourcing Specialist | Contracts Administrator | |
| Average salary | $79,213 | $52,876 |
| Salary range | Between $60,000 And $103,000 | Between $35,000 And $78,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | Maryland |
| Best paying company | PayPal | Ngam Advisors, L.P. |
| Best paying industry | Health Care | Finance |
There are a few differences between a senior sourcing specialist and a contracts administrator in terms of educational background:
| Senior Sourcing Specialist | Contracts Administrator | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior sourcing specialists' and contracts administrators' demographics:
| Senior Sourcing Specialist | Contracts Administrator | |
| Average age | 48 | 48 |
| Gender ratio | Male, 51.8% Female, 48.2% | Male, 32.2% Female, 67.8% |
| Race ratio | Black or African American, 9.1% Unknown, 4.4% Hispanic or Latino, 12.5% Asian, 7.9% White, 65.4% American Indian and Alaska Native, 0.8% | Black or African American, 9.2% Unknown, 4.4% Hispanic or Latino, 12.6% Asian, 7.7% White, 65.3% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 7% | 7% |