Contract Negotiation Manager Salary
The average Contract Negotiation Manager in the United States can expect to rake in roughly $90K annually. Job satisfaction is high and work is enjoyable for most Contract Negotiation Managers. Medical benefits are awarded to most, and a strong majority earn dental coverage. Contract Negotiation Managers survey participants are largely women, dominating at 64 percent. This snapshot results from replies to PayScale's salary survey.
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.
Contract Negotiation Manager Job Listings
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Popular Skills for Contract Negotiation Manager
Contract Negotiation Managers typically list a handful of skills they use on the job. 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. Those familiar with Contract Management also tend to know Negotiation.
Pay by Experience Level for Contract Negotiation Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience seems to be a major factor in determining the incomes of Contract Negotiation Managers. The average worker who claims fewer than five years of experience earns around $70K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $91K. Those with 10 to 20 years of experience under their belts can expect their paychecks to flourish around the six-figure median of $102K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $113K.