Contracts Director Salary
Contracts Directors in the United States can look forward to a sizeable six-figure salary — around $120K per year on average. Total incomes of Contracts Directors incorporate potential for, in a few cases, more than $25K from bonuses and close to $31K from profit sharing; these performance components cause packages to range between $74K and $165K. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Most Contracts Directors like their work and job satisfaction is high. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. Most get medical and dental insurance, and a strong majority get vision plans, too. The numbers in this rundown were provided by PayScale's salary survey participants.
|Salary||$73,081 - $154,352|
|Bonus||$991 - $25,273|
|Profit Sharing||$0.00 - $30,639|
|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).)
|$74,229 - $165,275|
Job Description for Contracts Director
Contract directors are in charge of negotiating, maintaining, and updating commercial contracts. They must establish contacts with outside businesses and develop contracts that meet the financial and professional goals of the business. They must develop and maintain multiple contracts at a time with local, national, and international businesses. Additionally, contract managers must develop internal policies and procedures for contract development and maintenance, and note areas for improvement. They must be knowledgeable regarding legal and ethical rules and regulations regarding contracts. Contract directors review contracts for completeness before final approval and signing, and they must adhere to all local, state, and federal regulations.Read More...
Contract directors must have excellent interpersonal, leadership, negotiation, and communication skills. Additionally, they must be able to analyze potential and actual problems and develop optimal solutions. Contract directors must be able to work well independently, as well as work effectively in a group setting. Excellent written and verbal communication skills are essential, as well as proficiency with basic computer programs.
Employers generally desire a minimum of a bachelor’s degree in a related field for an entry-level position as a contract director. A master’s degree is highly desired and may be required by some employers. Significant management experience may be required or preferred as well.
Contract directors typically work indoors in an office setting during regular business hours, although overtime may be required; they may be required to travel for a significant portion of the year.
Contracts Director Tasks
- Ensure that contracts are in compliance with laws and organizational policies.
- Oversee maintenance and compliance with existing contracts.
- Negotiate contracts and proposals with internal teams and customers.
- Resolve risks, problems, and non-compliance issues.
Contracts Director Job Listings
Popular Skills for Contracts Director
Contracts Directors report using a diverse set of skills on the job. Most notably, facility with Legal Research, Legal Compliance, and Contract Negotiation are correlated to pay that is significantly above average, leading to increases of 38 percent, 9 percent, and 7 percent, respectively. Those listing Legal Document Review as a skill should be prepared for drastically lower pay. Most people who know Contract Management also know Legal Compliance.
Pay by Experience Level for Contracts Director
Pay by Experience for a Contracts Director has a positive trend. An entry-level Contracts Director with less than 5 years of experience can expect to earn an average total compensation of $66,000 based on 23 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Contracts Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $117,000 based on 64 salaries. An experienced Contracts Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $129,000 based on 127 salaries. A Contracts Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $139,000 based on 94 salaries.
Pay Difference by Location
For those looking to make money, Contracts Directors in McLean enjoy an exceptional pay rate, 59 percent above the national average. Contracts Directors can also look forward to large paychecks in cities like Chantilly (+23 percent), Reston (+19 percent), Houston (+14 percent), and Washington (+13 percent). Location is a huge contributor to overall pay, with Contracts Directors in New York earning a whopping 57 percent below the national average. Employers also pay below the national average in Orlando (40 percent lower) and New Orleans (35 percent lower).
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Key Stats for Contracts Director
Rated 5 out of 5
based on 46 votes.