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Contract Specialist Salary

Contract Specialists in the United States can expect wages of $59K annually on average. 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. Earnings for this group are mostly affected by the specific employer, followed by career duration and geographic location. Women account for the majority of Contract Specialists who responded to the questionnaire — 61 percent to be exact. Medical benefits are awarded to most, and a strong majority earn dental coverage. Work is enjoyable for Contract Specialists, who typically claim high levels of job satisfaction. This report is based on responses to the PayScale salary survey.
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$39,904 - $87,769
(Median)
$40K
$59K
$88K
MEDIAN: $58,600
10%
50%
90%

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$14.21 - $35.75
(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
$39,904 - $87,769  
   
Bonus
$0.00 - $7,243  
Profit Sharing
$175.00 - $5,087  
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).
)
$38,070 - $88,011  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,721
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
$14.21 - $35.75  
   
Overtime
$19.07 - $46.30  
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 - $7,243  
   
Commission
$0.00 - $8,139  
Profit Sharing
$175.00 - $5,087  
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).
)
$38,070 - $88,011  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 339

Find Out Exactly What You Should Be Paid

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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While not commonly seen, Contract Specialists who transition into a Senior Contracts Manager position may see a rise in pay. The median salary for Senior Contracts Managers is $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 top-notch employers for Contract Specialists in this area. U.S. General Services Administration leads the field in terms of pay, with a median salary of $76K.

Bringing up the rear, U.S. Department of Defense's median pay of $50K is the lowest in town; however, employee salaries widely range, with some making up to $99K.

Popular Skills for Contract Specialist


Survey participants wield an impressively varied skill set 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 11 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.


More years of relevant experience do not necessarily translate to higher paychecks. People who have worked for fewer than five years bring home $53K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $63K. On average, Contract Specialists make $64K following one to two decades on the job. In the end, more experience does seem to mean larger paychecks; seasoned Contract Specialists with more than 20 years of experience earn a predictably higher median salary 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 can also look forward to large paychecks in cities like New York (+18 percent), Atlanta (+15 percent), Houston (+14 percent), and Los Angeles (+14 percent). San Antonio is the lowest-paying area, 14 percent south of the national average. Below-median salaries also turn up in Raleigh and Chicago (12 percent lower and 5 percent lower, respectively).

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 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 438 votes.

Gender

Female
61 %
Male
39 %

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: 86% dental benefits Dental: 77%
vision benefits Vision: 66% employee benefits None: 11%
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