Contract Specialist Salary

For Contract Specialists, yearly average wages total $59K annually. In the world of Contract Specialists, overall cash allowance can occasionally include more than $7K from bonuses and, in some exceptional cases, $5K from profit sharing, causing incomes to vary widely between $38K and $89K. Earnings for this group are mostly affected by location, followed by career length and the specific company. The majority of Contract Specialists claim high levels of job satisfaction. Female Contract Specialists are more common than men among those who completed the survey; more than half (61 percent) are women. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. Respondents to the PayScale salary survey provided the data for this report.
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$40,246 - $88,854
(Median)
$40K
$59K
$89K
MEDIAN: $59,394
10%
50%
90%

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$14.19 - $36.82
(Median)
$14
$21
$37
MEDIAN: $20
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
$40,246 - $88,854  
   
Bonus
$0.00 - $6,917  
Profit Sharing
$0.00 - $5,081  
Commission
$2,000  
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).
)
$38,333 - $88,775  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,904
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
$14.19 - $36.82  
   
Overtime
$18.56 - $46.40  
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 - $6,917  
   
Commission
$2,000  
Profit Sharing
$0.00 - $5,081  
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).
)
$38,333 - $88,775  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 422
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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

  • 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 $106K per year on average. Going from Contract Specialist to Contract Administrator is the transition that occurs most often in this field, and the average paycheck for Contract Administrators is $51K. Many others choose to work as Contracts Managers, where pay is typically $78K.

Contract Specialist Job Listings

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Popular Employer Salaries for Contract Specialist


U.S. Army, U.S. Air Force (USAF), U.S. Department of Defense, Department of Veteran's Affairs, 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 $74K. Those in search of high salaries should also consider U.S. Navy, U.S. Army, and Department of Veteran's Affairs, top-paying firms where Contract Specialists rake in a $70K, $69K, or $60K, respectively.

Others at the bottom of the scale for this job include U.S. Department of Defense at $55K, and U.S. Air Force (USAF) where $58K is the norm, but it is worth noting that some Contract Specialists there earn up to $78K.

Popular Skills for Contract Specialist


Contract Specialists seem to exploit a large range of skills on the job. Most notably, facility with Business Analysis, Project Management, and Negotiation are correlated to pay that is significantly above average, leading to increases of 26 percent, 17 percent, and 13 percent, respectively. Skills that pay less than market rate include Microsoft Excel and Customer Service. Those familiar with Contract Management also tend to know 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 many Contract Specialists, extensive experience does not lead to significantly more money. The average worker who claims fewer than five years of experience earns around $52K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $64K. Contract Specialists bring in $66K after working for 10 to 20 years. Contract Specialists who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $78K.

Pay Difference by Location

National Average: $58,003

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

For Contract Specialists, busy Washington offers a higher-than-average pay rate, 32 percent above the national average. Contract Specialists can also look forward to large paychecks in cities like Huntsville (+21 percent), San Diego (+19 percent), Houston (+14 percent), and Los Angeles (+13 percent). Trailing the national average by 13 percent, San Antonio is the market with the smallest paychecks. Employers in Raleigh and Austin also lean toward paying below-median salaries (13 percent lower and 11 percent lower, respectively).

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Experience Affects Contract Specialist Salaries




National Average
$58,000


Skills That Affect Contract Specialist Salaries

Business Analysis
up arrow 26%

Project Management
up arrow 17%


Microsoft Office
up arrow 13%




Contract Management
up arrow 4%

Legal Compliance
up arrow 4%

Legal Document Review
up arrow 2%

Legal Research
up arrow 2%

Proposal Writing
0%

National Average
$58,000

Customer Relationship Management (CRM)
up arrow 1%

Customer Service
up arrow 4%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 387 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
4%
1-4 years
43%
5-9 years
29%
10-19 years
16%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 78%
medical benefits
Vision: 66%
dental benefits
None: 11%
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