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Contract Specialist Salary

Median pay for Contract Specialists in the United States lies in the neighborhood of $59K per year. In the world of Contract Specialists, overall income ranges from $38K near the bottom to $88K at the top; this can include more than $7K from bonuses and more than $5K from profit sharing in exceptional cases. This group's pay is mainly influenced by the particular firm, followed by career duration and geography. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Job satisfaction is high and work is enjoyable for most Contract Specialists. There are more female Contract Specialists who answered the questionnaire than male, making up 62 percent. This report is based on answers to PayScale's salary questionnaire.
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$39,886 - $87,892
(Median)
$40K
$59K
$88K
MEDIAN: $58,644
10%
50%
90%

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$14.20 - $35.78
(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
$39,886 - $87,892  
   
Bonus
$0.00 - $7,211  
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).
)
$38,045 - $88,172  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 1,708
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
$14.20 - $35.78  
   
Overtime
$19.05 - $46.32  
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 - $7,211  
   
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).
)
$38,045 - $88,172  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 337

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United States (change)


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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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Though it's uncommon, some Contract Specialists move into roles as Senior Contracts Managers, where pay is an average $107K per year. 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


U.S. Army, U.S. Air Force (USAF), Department of Veteran's Affairs, U.S. Department of Defense, and U.S. Navy are all popular places to work. Those at U.S. General Services Administration can expect to make the most, with the company offering a median salary of $76K.

Employees of U.S. Department of Defense can expect to make the least, with the company offering a median salary of $50K; however, pay is widely dispersed from top to bottom, ranging from $36K to $99K.

Popular Skills for Contract Specialist


Survey results imply that Contract Specialists deploy a deep pool of skills on the job. Most notably, skills in Procurement, Negotiation, Contract Negotiation, and Legal Compliance are correlated to pay that is above average, with boosts between 12 percent and 17 percent. Skills that are correlated to lower pay, on the other hand, include Microsoft Excel and Customer Service. For most people, competency in Contract Management indicates knowledge of Customer Relationship Management (CRM).

Pay by Experience Level for Contract Specialist

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


Contract Specialists do not generally earn higher incomes from more experience in the field. Workers in their first five years can expect to earn $53K, but people who have been around for five to 10 years earn a noticeably bigger sum of $63K. Contract Specialists with one to two decades of relevant experience report an average salary of approximately $64K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $77K.

Pay Difference by Location


For Contract Specialists, working in the bustling city of Washington has its advantages, including an above-average pay rate. Contract Specialists will also find cushy salaries in New York (+19 percent), San Diego (+16 percent), Los Angeles (+15 percent), and Atlanta (+15 percent). With compensation 14 percent below the national average, San Antonio is not known for hefty paychecks and actually represents the lowest-paying market. A couple other locations with smaller-than-average paychecks include Raleigh (14 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%

Legal Document Review
up arrow 5%

Customer Relationship Management (CRM)
up arrow 1%

Proposal Writing
up arrow 1%

National Average
$57,000

Customer Service
up arrow 4%

Microsoft Excel
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 440 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
16%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 77%
vision benefits Vision: 65% employee benefits None: 11%
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