Senior Contract Administrator Salary
Senior Contract Administrators in the United States tend to be well-versed in their field, and slightly more than half have more than 10 years of experience. Average salary is expected to be around $75K annually, but may range from $55K to $105K per year. Location is the biggest factor affecting pay for this group, followed by experience level. Job satisfaction is high and work is enjoyable for most Senior Contract Administrators. Medical and dental coverage is claimed by nearly all, and most earn vision coverage. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Senior Contract Administrator
A senior contract administrator is responsible for ensuring that all contracts produced for clients - as well as agreements and negotiating summary plans - meet federal, state and company standards. These administrators are also in charge of identifying needed changes in these documents and ensuring they are included. Senior contract administrators often oversee a team of other contract administrators, reviewing their work, providing guidance, and providing disciplinary action as needed. Additionally, these senior personnel must keep up with all state and federal regulations related to the type of contracts that the company handles.Read More...
Senior contract administrators typically work full time in an office setting, with some travel potentially required depending on the needs of the business. Typical employers for senior contract administrators include any companies that regularly handle contracts.
Companies typically require a minimum of a high school diploma or equivalent for senior contract administrators, but a bachelor's degree in a related field is often highly preferred. Employers also require experience with contracts and knowledge of relevant laws and regulations. Proficiency with basic computer programs, effective communication skills, and excellent time-management skills are also required for this position.
Senior Contract Administrator Tasks
- Draft, edit and verify contracts and their amendments, updating associated schedules.
- Research and document relevant laws, technical needs and other factors.
- Negotiate and update contracts, their rates and their terms with vendors.
- Interpret and explain contracts, their terms and their implications.
- Document terms, data and status of projects in associated systems.
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Pay by Experience Level for Senior Contract Administrator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Senior Contract Administrators, experience does not seem to be a major factor in determining pay. Workers in their first five years can expect to earn $64K, but people who have been around for five to 10 years earn a noticeably bigger sum of $72K. After working for 10 to 20 years, Senior Contract Administrators make a median salary of $76K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $85K.