Contract Specialist Salary

Contract Specialists in the United States can expect wages of $59K per year on average. In the world of Contract Specialists, total cash compensation can vary between $38K and $88K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $7K and $5K, respectively. Compensation for this group is mainly affected by the particular firm, but the particular city and years of experience are influential factors as well. Most workers in this position report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Contract Specialists survey participants are largely women, dominating at 62 percent. This report is based on responses to the PayScale salary survey.
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$39,785 - $87,841
(Median)
$40K
$59K
$88K
MEDIAN: $58,635
10%
50%
90%

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$14.24 - $35.54
(Median)
$14
$21
$36
MEDIAN: $20
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30K$60K$90K
Salary
$39,785 - $87,841  
   
Bonus
$0.00 - $7,250  
Profit Sharing
$4.30 - $5,092  
Commission
$0.00 - $8,139  
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).
)
$37,919 - $88,082  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,681
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$16$32$48
Hourly Rate
$14.24 - $35.54  
   
Overtime
$19.02 - $46.27  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$32K$64K$96K
Bonus
$0.00 - $7,250  
   
Commission
$0.00 - $8,139  
Profit Sharing
$4.30 - $5,092  
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).
)
$37,919 - $88,082  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 341

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Job Description for Contract Specialist

  • Negotiate contract terms with clientele.
  • Edit or amend contracts and handles terms of contract breach.
  • Prepare, review and evaluate contracts for compliance of legality and for profitability if applicable.

Common Career Paths for Contract Specialist


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Contract Specialists sometimes assume positions such as Senior Contracts Managers. That role pays $107K per year on average. The most common promotion for Contract Specialists is Contracts Manager, a position that typically pays $78K annually. Another standard transition for Contract Specialists seeking advancement is to assume a Contract Administrator role, where pay is often $51K.

Contract Specialist Job Listings

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Popular Employer Salaries for Contract Specialist


Dominating the field, U.S. Army, U.S. Air Force (USAF), U.S. Department of Defense, Department of Veteran's Affairs, and U.S. Navy are top firms with a reputation for hiring a great number of Contract Specialists. U.S. General Services Administration offers the highest compensation with a median salary of $76K.

U.S. Department of Defense is infamous for dishing out the smallest paychecks in the area (the median in that office is $49K), but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $32K while workers on the upper end may rake in $99K.

Popular Skills for Contract Specialist


Contract Specialists report using a deep pool of skills on the job. Most notably, skills in Negotiation, Procurement, Contract Negotiation, and Legal Compliance are correlated to pay that is above average, with boosts between 12 percent and 17 percent. Skills that seem to negatively impact pay include Microsoft Excel and Customer Service. It is often found that people who know Contract Management are also skilled in Customer Relationship Management (CRM).

Pay by Experience Level for Contract Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Contract Specialists, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. The average worker who claims fewer than five years of experience earns around $53K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $63K. Contract Specialists with one to two decades of relevant experience report an average salary of approximately $64K. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $77K.

Pay Difference by Location


For Contract Specialists, New York provides a pay rate that is 33 percent greater than the national average. Contract Specialists will also find cushy salaries in Washington (+28 percent), Houston (+17 percent), Arlington (+16 percent), and San Diego (+16 percent). The lowest-paying market is San Antonio, which sits 14 percent below the national average. Employers also pay below the national average in Raleigh (12 percent lower) and Chicago (6 percent lower).

Related Job Salaries

United States (change)

Experience Affects Contract Specialist Salaries




National Average
$57,000


Skills That Affect Contract Specialist Salaries


Procurement
up arrow 17%


Legal Compliance
up arrow 7%



Project Management
up arrow 5%

Customer Relationship Management (CRM)
up arrow 2%

Proposal Writing
up arrow 2%

National Average
$57,000

Customer Service
up arrow 4%

Microsoft Excel
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 457 votes.

Gender

Female
62 %
Male
38 %

Years of Experience

Less than 1 year
4%
1-4 years
45%
5-9 years
29%
10-19 years
15%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 77%
vision benefits Vision: 66% employee benefits None: 11%