The average salary for a Contract Specialist is $61,313.
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What Do Contract Specialists Do?
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 contr…Read more
Contract Specialist Tasks
- Prepare, review and evaluate contracts for compliance of legality and for profitability if applicable.
- Edit or amend contracts and handles terms of contract breach.
- Negotiate contract terms with clientele.
Job Satisfaction for Contract Specialist
Popular Employer Salaries for Contract Specialist
The top respondents for the job title Contract Specialist are from the companies U.S. Air Force (USAF), U.S. Army and U.S. Department of Defense. Reported salaries are highest at U.S. Department of Energy where the average pay is $91,079. Other companies that offer high salaries for this role include U.S. Department of Defense and Department of Navy, earning around $82,000 and $82,000, respectively. U.S. Air Force (USAF) pays the lowest at around $60,273. Defense Logistics Agency and U.S. Army also pay on the lower end of the scale, paying $62,821 and $70,084, respectively.
Contract Specialist Job Listings
What Are Popular Skills for Contract Specialists?
Skills in Contract Management, Contract Negotiation and Legal Document Review are correlated to pay that is above average. Skills that pay less than market rate include Customer Service and Microsoft Excel.
What is the Pay by Experience Level for Contract Specialists?
An entry-level Contract Specialist with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $48,746 based on 135 salaries. An early career Contract Specialist with 1-4 years of experience earns an average total compensation of $57,029 based on 1,337 salaries. A mid-career Contract Specialist with 5-9 years of experience earns an average total compensation of $66,563 based on 782 salaries. An experienced Contract Specialist with 10-19 years of experience earns an average total compensation of $69,358 based on 651 salaries. In their late career (20 years and higher), employees earn an average total compensation of $73,969.
Pay Difference by Location
Employees with Contract Specialist in their job title in Washington, District of Columbia earn an average of 28.8% more than the national average. These job titles also find higher than average salaries in Seattle, Washington (21.4% more) and Chicago, Illinois (8.0% more). The lowest salaries can be found in Austin, Texas (15.7% less), Atlanta, Georgia (5.8% less) and Houston, Texas (0.6% less).
Years of Experience
This data is based on 3,151 survey responses.