Contract Specialists in the United States can expect wages of $59K annually on average. Cash earnings for Contract Specialists — which occasionally include more than $8K from bonuses and more than $9K from profit sharing — stretch from around $38K to approximately $89K. The particular firm is the main element affecting pay for this group — experience level and location are driving factors as well. Contract Specialists survey participants are largely women, dominating at 65 percent. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. Most Contract Specialists report high levels of job satisfaction. This snapshot results from replies to PayScale's salary survey.
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$40,250 - $89,409
(Median)
$40K
$59K
$89K
MEDIAN: $59,136
10%
50%
90%

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$14.26 - $38.79
(Median)
$14
$21
$39
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
$40,250 - $89,409  
   
Bonus
$0.00 - $7,747  
Profit Sharing
$0.00 - $9,004  
Commission
$3,000  
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).
)
$37,882 - $88,625  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 1,414
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$17$34$51
Hourly Rate
$14.26 - $38.79  
   
Overtime
$19.43 - $49.35  
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$50K$100K$150K
Bonus
$0.00 - $7,747  
   
Commission
$3,000  
Profit Sharing
$0.00 - $9,004  
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).
)
$37,882 - $88,625  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 375
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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 who transition into a Senior Contracts Manager role may receive large pay increases as the latter position pays an average $107K per year. As Contract Specialists progress in their field, many go on to become Contracts Managers. In fact, this transition is more common than anything else, and pay for the position is usually $78K per year. Another common career choice for Contract Specialists is to move into a Contract Administrator role. Typically, Contract Administrators get paid $51K.

Contract Specialist Job Listings

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Popular Employer Salaries for Contract Specialist


U.S. Air Force (USAF), U.S. Department of Defense, Department of Veteran's Affairs, Raytheon Co., and U.S. Navy are some prominent firms with considerable interest in employing a large team of Contract Specialists. Those at U.S. General Services Administration can expect to make the most, with the company offering a median salary of $74K. U.S. Navy, U.S. Army, and Department of Veteran's Affairs also offer top salaries for Contract Specialists. Workers at these firms can expect to earn about $68K, $67K, and $63K, respectively.

Workers also receive paychecks lighter than average at Molina Healthcare, Inc. ($53K), Raytheon Co. ($55K), and U.S. Department of Defense ($58K).

Popular Skills for Contract Specialist


Contract Specialists seem to wield many skills on the job. Most notably, skills in Negotiation, Contract Negotiation, Procurement, and Business Analysis are correlated to pay that is above average, with boosts in pay of 10 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Legal Research and Microsoft Excel also typically command lower compensation. Those proficient in Contract Management are, more often than not, 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 $50K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $64K. Contract Specialists claiming one to two decades of experience make an estimated median of $67K. Veterans who have acquired more than 20 years report a median income of $75K, which is generally higher than the pay reported by other tenure groups.

Pay Difference by Location

23%

13%

12%

9%

-3%

-7%

-9%

-11%

National Average: $56,849

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

For Contract Specialists, Washington provides a pay rate that is 30 percent greater than the national average. Contract Specialists can also look forward to large paychecks in cities like Arlington (+29 percent), Houston (+23 percent), Seattle (+13 percent), and New York (+12 percent). With compensation 11 percent below the national average, Chicago is not known for hefty paychecks and actually represents the lowest-paying market. Employers pay around 9 percent less in Austin and 7 percent less in Dallas, below-median salaries for those in this field.

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Experience Affects Contract Specialist Salaries




National Average
$57,000


Skills That Affect Contract Specialist Salaries




Business Analysis
up arrow 6%



Financial Analysis
up arrow 3%

National Average
$57,000

Proposal Writing
up arrow 1%

Legal Document Review
up arrow 1%

Customer Relationship Management (CRM)
up arrow 2%

Microsoft Office
up arrow 4%



Legal Research
up arrow 12%

Data Analysis
up arrow 23%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 243 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
5%
1-4 years
42%
5-9 years
26%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 77%
medical benefits
Vision: 67%
dental benefits
None: 13%
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