Contract Negotiation Manager Salary
Contract Negotiation Managers in the United States with more than 10 years of experience in their profession represent more than half of Contract Negotiation Managers. Salaries average out to around $94K annually and spread from $61K to $132K per year. Geography is the biggest factor affecting pay for this group, followed by years of experience. Job satisfaction for Contract Negotiation Managers is high. Medical benefits are awarded to most, and a large number earn dental coverage. Men are in the minority of survey respondents, with female Contract Negotiation Managers making up 74 percent. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
|Salary||$59,322 - $128,205|
|Bonus||$2,948 - $15,000|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$61,098 - $131,988|
Job Description for Contract Negotiation Manager
A contract is a legally binding agreement between at least two parties. In essence, it is a list of expectations and rules which, once signed, all parties are obliged to meet. Though there are laws which govern some of what is allowed to be enforced by contract, a signatory is expected to know what they are signing before they do so and bargain for the most agreeable set of terms. For this, contract negotiation managers are employed.Read More...
A contract negotiation manager is an individual whose primary task is to engage other parties - often other contract negotiators - in an effort to secure terms for a contract, which involves a lot of communication, bargaining, and concessions in the interest of parsing out a final contract containing terms by which all parties agree to abide. Most of the contract negotiation manager's work precedes this process, however, as they are tasked with researching bids and contract drafts and identifying areas of risk, as well as areas which can be used to maximize their client's advantage. They work directly with clients by discussing their analysis, offering consultation regarding the best strategies, and confirming contracts before closing takes place, and also review and revise existing contracts when necessary.
A bachelor's degree in business administration is highly beneficial for a career in contract negotiation management, though some employers may prefer candidates who have master's degrees with focuses in contract management or acquisition. Some levels of contract negotiation management require special certification, of which there are several depending on the nature of the contract work (professional, government, commercial, etc.). (Copyright 2017 PayScale.com)
Contract Negotiation Manager Tasks
- Act as primary contact for negotiations.
- Prepare detailed and complex drafting of contracts.
- Identify and mitigate risk issues.
- Draft, review and negotiate complex agreements.
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Popular Skills for Contract Negotiation Manager
Contract Negotiation Managers who responded to the survey report just a handful of professional skills. Those who have experience with Contract Negotiation, Contract Management, and Negotiation can expect to be compensated well for these skills. Skills that pay less than market rate include Negotiation, Contract Management, and Contract Negotiation. Those familiar with Contract Management also tend to know Negotiation.
Pay by Experience Level for Contract Negotiation Manager
Pay by Experience for a Contract Negotiation Manager has a positive trend. An entry-level Contract Negotiation Manager with less than 5 years of experience can expect to earn an average total compensation of $71,000 based on 23 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Contract Negotiation Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $98,000 based on 25 salaries. An experienced Contract Negotiation Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $104,000 based on 30 salaries. A Contract Negotiation Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $113,000 based on 19 salaries.
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