Bid Manager Salary
Bid Managers in the United States take home an average $70K annually. Experience level is the biggest factor affecting pay for this group, followed by geography. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. Most Bid Managers report high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
Job Description for Bid Manager
A bid manager oversees the process of bidding on contracts, from initial development and structuring to placing the bid to follow-up. They typically oversee a team that gathers the necessary information, performs cost analysis, and completes other tasks that are necessary to create an accurate and successful bid. Additionally, the bid manager is responsible for reporting the status of bids to executive management. An average day for a bid manager involves assessing the status of bids in progress, checking in with colleagues and department team members, reporting to direct supervisors, performing research, and refining bid data to present a polished bid. The job takes place primarily indoors, though in some cases travel and on-site inspection may be necessary for the manager to gather additional information for project completion.Read More...
Requirements for the position of bid manager vary by company, as well as the specific product or service for bid. In general, candidates are expected to hold a bachelor's degree in business administration or a related field. They should also have experience in the organization's field. Individuals who work as bid managers have usually worked as junior bid associates and accumulated significant experience prior to taking on a more senior role. Individuals who work as bid managers must have excellent interpersonal skills, as well as time management and multitasking skills.
Bid Manager Tasks
- Ensure review of the bid process and contract.
- Monitor progress and resolve issues that arise.
- Manage the bid budget.
- Manage large bids.
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Pay by Experience Level for Bid Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $53K; however, individuals with five to 10 years of experience bring in $73K on average — a distinctly larger sum. For Bid Managers, 10 to 20 years of experience on the job amounts to an average salary of $92K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $89K.
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