Contracts Director Salary
Generous salaries abound for Contracts Directors in the United States, with average pay above six figures ($120K) per year. Cash earnings for Contracts Directors — which occasionally include more than $25K from bonuses and more than $31K from profit sharing — stretch from around $74K to approximately $165K. Residence is the biggest factor affecting pay for this group, followed by tenure. Women Contracts Directors who took the survey just slightly outnumber men. Most Contracts Directors like their work and job satisfaction is high. Most receive medical and dental insurance and a strong majority get vision insurance. The information for this snapshot was generated by responses to the PayScale salary survey.
|Salary||$73,301 - $154,458|
|Bonus||$998 - $25,296|
|Profit Sharing||$0.00 - $35,235|
|Total Pay (||$74,591 - $169,082|
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. (Copyright 2017 PayScale.com)
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 seem to require a number of specific skills. 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. It is often found that people who know Contract Management are also skilled in 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
Surpassing the national average by 60 percent, Contracts Directors in McLean receive some of the highest pay in the country. Contracts Directors can also look forward to large paychecks in cities like Chantilly (+23 percent), Reston (+20 percent), Houston (+14 percent), and Washington (+13 percent). Contracts Directors in New York earn salaries far below the national average by 57 percent, proving that geography overwhelmingly affects the pay scale for those in this field. A couple other locations with smaller-than-average paychecks include Orlando (40 percent lower) and New Orleans (34 percent lower).
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Key Stats for Contracts Director
Rated 5 out of 5
based on 52 votes.