Contract Negotiation Manager Salary
An average Contract Negotiation Manager in the United States can expect to take home roughly $91K annually. Job satisfaction is reported as high by the vast majority of workers. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to the larger part. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
|Salary||$59,724 - $124,477|
|Bonus||$3,472 - $12,451|
|Total Pay (||$60,964 - $127,177|
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.
- Guide proposals through process.
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Popular Skills for Contract Negotiation Manager
Contract Negotiation Managers usually report a few specific skills. Those who have experience with Contract Negotiation, Negotiation, and Contract Management can expect to be compensated well for these skills. At the other end of the pay range are skills like Contract Management and Negotiation. The majority of those who know Contract Management also know 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. Survey participants with less than five years' experience pocket $72K on average, but those with five to 10 years of experience enjoy a much bigger median of $97K. Between one and two decades on the job, average salaries pass the six-figure mark at around $103K. Survey participants who have worked for more than two decades report bringing in $111K on average.
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Key Stats for Contract Negotiation Manager
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