Contract Negotiation Manager Salary
Contract Negotiation Managers in the United States tend to be well-versed in their field, and more than half have more than 10 years of experience. Average salary is expected to be around $92K annually, but may range from $61K to $132K per year. Location is the biggest factor affecting pay for this group, followed by years of experience. Contract Negotiation Managers survey participants are largely women, dominating at 67 percent. Job satisfaction is reported as high by the vast majority of workers. Medical benefits are awarded to most, and a large number earn dental coverage. This snapshot results from replies to PayScale's salary survey.
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|Salary||$59,461 - $127,551|
|Bonus||$3,354 - $15,205|
|Total Pay (||$61,219 - $131,754|
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.).
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.
Popular Skills for Contract Negotiation Manager
Contract Negotiation Managers who responded to the survey indicated only a few skills that they use on the job. Those who have experience with Contract Negotiation, Contract Management, and Negotiation can expect to be compensated well for these skills. At the other end of the pay range are skills like Negotiation, Contract Management, and Contract Negotiation. It is often found that people who know Contract Management are also skilled in Negotiation.
Pay by Experience Level for Contract Negotiation Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Contract Negotiation Managers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Salaries of relatively inexperienced workers fall in the neighborhood of $71K, but folks who have racked up five to 10 years see a notably higher median of $98K. Six-figure salaries surface after one to two decades on the job — experienced professionals in this group reap a six-figure median of $104K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $113K.
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Key Stats for Contract Negotiation Manager
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