Contract Specialists in the United States can expect wages of $58K annually on average. Cash earnings for Contract Specialists — which occasionally include more than $8K from bonuses and more than $7K from profit sharing — stretch from around $38K to approximately $88K. While geography and experience level impact pay for this group, the specific employer is the most influential factor. Contract Specialists survey participants are largely women, dominating at 65 percent. Job satisfaction is high and work is enjoyable for most Contract Specialists. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the greater part. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$40,197 - $88,667
$40K
$58K
$89K
MEDIAN: $58,487
10%
50%
90%

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$14.48 - $38.58
$14
$21
$39
MEDIAN: $20.64
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30K$60K$90K
Salary
$40,197 - $88,667  
   
Bonus
$0.00 - $7,903  
Profit Sharing
$0.00 - $7,047  
Commission
$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).
)
$37,876 - $87,749  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 1,460
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$16$32$48
Hourly Rate
$14.48 - $38.58  
   
Overtime
$19.77 - $47.70  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$32K$64K$96K
Bonus
$0.00 - $7,903  
   
Commission
$15,000  
Profit Sharing
$0.00 - $7,047  
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).
)
$37,876 - $87,749  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 390

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Contract Specialist

Contract specialists create, examine, and monitor contractual agreements between their organizations and suppliers of materials or labor. They are generally expected to serve as tough negotiators who work to reach the best potential deal for the company, and they also monitor and administer these contracts. Soliciting bids to acquire a variety of required goods and services is a major part of this job, and they may also oversee contractors' performances to ensure that the provisions of the contract are met. Another central component of the job involves building connections with reliable vendors and maintaining a comprehensive list of potential contractors needed for any given situation.

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Contract Specialist Tasks

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

Common Career Paths for Contract Specialist


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Contract Specialists who go on to become Senior Contracts Managers may see their salaries climb quite a bit. Median pay for Senior Contracts Managers is $107K annually. With an annual salary of $78K, Contracts Manager is the most common role for Contract Specialists to subsequently assume on their way up the ladder. Transitioning into a Contract Administrator role — which usually pays $51K — is also typical for Contract Specialists, though less common by comparison.

Contract Specialist Job Listings

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Popular Employer Salaries for Contract Specialist


Contract Specialists flock to U.S. Air Force (USAF), U.S. Department of Defense, Department of Veteran's Affairs, Raytheon Co., and U.S. Navy, highly regarded companies that employ a generous number of people in this profession. U.S. General Services Administration offers the largest salaries in town — $74K on average. U.S. Army, U.S. Navy, and Department of Veteran's Affairs are a few other companies that offer generous salaries, with Contract Specialists earning around $69K, $68K, or $63K at each firm, respectively.

Molina Healthcare, Inc., Raytheon Co., and U.S. Department of Defense also rank near the bottom for pay, handing out $53K, $55K, and $58K-paychecks on average.

Popular Skills for Contract Specialist


Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Negotiation, Contract Negotiation, Procurement, and Business Analysis are correlated to pay that is above average, with boosts in pay of 11 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Microsoft Excel and Microsoft Office also typically command lower compensation. Those educated in Contract Management tend to be well versed 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 beginner in this position makes around $51K, but folks who have been around for five to 10 years see a markedly higher median salary of $63K. Contract Specialists claiming one to two decades of experience make an estimated median of $66K. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $73K.

Pay Difference by Location

National Average: $56,180

Larger city markers indicate a job is popular in that location.

For those looking to make money, Contract Specialists in Washington enjoy an exceptional pay rate, 35 percent above the national average. Contract Specialists can also look forward to large paychecks in cities like Arlington (+30 percent), Houston (+23 percent), New York (+15 percent), and Seattle (+13 percent). Those in the field find the lowest salaries in Chicago, 10 percent below the national average. Not at the bottom but still paying below the median are employers in Austin and Dallas (8 percent lower and 6 percent lower, respectively).

Related Job Salaries

Key Stats for Contract Specialist

Gender

Female
65 %
Male
35 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 255 votes.
043
Less than 1 year
5%
1-4 years
43%
5-9 years
25%
10-19 years
19%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Contract Specialist Salaries




National Average
$56,000


Skills That Affect Contract Specialist Salaries

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 255 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
5%
1-4 years
43%
5-9 years
25%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 76%
vision benefits
Vision: 66%
dental benefits
None: 13%
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