Contract Administration Manager Salary
Contract Administration Managers in the United States take home an average $71K per year. Total cash compensation for Contract Administration Managers runs from $45K to $111K depending on bonuses that can occasionally exceed $12K and profit sharing that can reach almost $6K. Career length and the particular city each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. Most Contract Administration Managers survey respondents are women (73 percent). This overview is based on answers to PayScale's salary questionnaire.
Job Description for Contract Administration Manager
A contract administration manager helps ensure contracts are furthering the interests of the business. They are in constant contact with colleagues in the operations and finance departments to determine supplies needed for regular operations and what finances can be allocated towards purchasing needed goods and services. The contract administration manager is also in contact with the sales department to help finalize deals between the company and its clients.Read More...
The contract administration manager works with legal personnel to negotiate the terms of contracts and ensures all formalities are handled. After the contracts are entered into, the contract administration manager helps ensure that all parties comply with the terms of the contract; within the company, this includes contacting operations, finance, and sales personnel to distribute information about the contract and how departments can comply. On occasion, the contract administration manager makes presentations to high level executives on contracts.
Contract administration mangers must be excellent communicators and pay strong attention to detail. Most contract administration managers have an advanced degree, usually a juris doctor (JD). Often, contract administration managers have five to 10 years of prior contract experience as well. Contract administration managers must be flexible, able to deal with changing situations while still demonstrating excellent leadership skills.
Contract Administration Manager Tasks
- Act as primary contact for negotiations.
- Oversee that activities are conducted according to the policies and procedures of the organization.
- Manages and coordinates activities within the contract administration department.
- Guide proposals through process.
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Popular Skills for Contract Administration Manager
Survey results suggest that Contract Administration Managers put a wide range of professional skills to use. Most notably, skills in People Management, Contract Negotiation, Microsoft Excel, and Contract Management are correlated to pay that is above average. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Regulatory Compliance and Contract Management also typically command lower compensation. For most people, competency in Contract Management indicates knowledge of Microsoft Excel.
Pay by Experience Level for Contract Administration Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Contract Administration Managers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Workers in their first five years can expect to earn $60K, but people who have been around for five to 10 years earn a noticeably bigger sum of $74K. Contract Administration Managers see a median salary of $86K after reaching one to two decades on the job. Contract Administration Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $93K on average.
Pay Difference by Location
Los Angeles offers some of the highest pay in the country for Contract Administration Managers, 28 percent above the national average. Contract Administration Managers will also find cushy salaries in Houston (+25 percent), Washington (+22 percent), Boston (+15 percent), and Atlanta (+7 percent). In Indianapolis, salaries are 11 percent below the national average and represent the lowest-paying market. A couple other locations with smaller-than-average paychecks include Denver (3 percent lower) and Chicago (2 percent lower).
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Key Stats for Contract Administration Manager
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