Contract Specialist Salary

Contract Specialists in the United States take home approximately $59K per year on average. In the world of Contract Specialists, total cash compensation can vary between $38K and $89K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $8K and $7K, respectively. The most influential factor affecting pay for this group is the particular firm, though the particular city and years of experience have a (lesser) impact as well. Most Contract Specialists report high levels of job satisfaction. There are more female Contract Specialists who answered the questionnaire than male, making up 64 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.
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$40,683 - $90,797
$41K
$59K
$91K
MEDIAN: $59,125
10%
50%
90%

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$14.68 - $36.50
$15
$21
$37
MEDIAN: $20.95
10%
50%
90%

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$0$90K
Salary $40,683 - $90,797
Bonus $0.00 - $7,977
Profit Sharing $0.00 - $5,166
Commission $10,000
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).
)
$38,070 - $89,554
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2017
  • Individuals Reporting: 1,550
Hourly Data $0$47
Hourly Rate $14.68 - $36.50
Overtime $21.13 - $47.18
Annual Data $0$89K
Bonus $0.00 - $7,977
Commission $10,000
Profit Sharing $0.00 - $5,166
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).
)
$38,070 - $89,554
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2017
  • Individuals Reporting: 472

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

  • 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.

Common Career Paths for Contract Specialist


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As Contract Specialists transition into upper-level roles such as Senior Contracts Manager, they may see a strong upturn in salary. Senior Contracts Managers earn $107K on average per year. Going from Contract Specialist to Contracts Manager is the transition that occurs most often in this field, where the paychecks are $78K. Many others choose to work as Contract Administrators, where pay is typically $51K.

Contract Specialist Job Listings

Popular Employer Salaries for Contract Specialist


Contract Specialists fill the offices of leading firms U.S. Department of Defense, U.S. Air Force (USAF), Department of Veteran's Affairs, Raytheon Co., and U.S. Navy. Contract Specialists seeking a sizable paycheck can earn the most at Cigna Corporation, where the average salary comes to $74K. U.S. General Services Administration, U.S. Department of Defense, and U.S. Army are a few other companies that offer generous salaries, with Contract Specialists earning around $74K, $69K, or $69K at each firm, respectively.

A few other companies with smaller-than-average paychecks include Molina Healthcare, Inc. ($53K), Raytheon Co. ($55K), and U.S. Air Force (USAF) ($60K).

Popular Skills for Contract Specialist


Survey takers working as Contract Specialists report using a large range of professional skills. Most notably, skills in Negotiation, Contract Negotiation, Procurement, and Business Analysis are correlated to pay that is above average, with boosts between 9 percent and 12 percent. Those listing Data Analysis as a skill should be prepared for drastically lower pay. Microsoft Excel and Microsoft Office also typically command lower compensation. Most people familiar with Contract Management also know Customer Relationship Management (CRM).

Pay by Experience Level for Contract Specialist

Pay by Experience for a Contract Specialist has a positive trend. An entry-level Contract Specialist with less than 5 years of experience can expect to earn an average total compensation of $51,000 based on 1,030 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Contract Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $63,000 based on 578 salaries. An experienced Contract Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $67,000 based on 403 salaries. A Contract Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $74,000 based on 143 salaries.

Pay Difference by Location

National Average: $56,278

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

Washington offers some of the highest pay in the country for Contract Specialists, 35 percent above the national average. Contract Specialists will also find cushy salaries in Houston (+24 percent), New York (+15 percent), Los Angeles (+13 percent), and Seattle (+11 percent). The lowest-paying market is Austin, which sits 9 percent below the national average. Workers in Dallas and Chicago earn salaries that trail the national average for those in this profession (7 percent less and 6 percent less, respectively).

Contract Specialist Reviews

Q: What is it like working as a Contract Specialist?

Contract Specialist in Washington:
"A Little of Everything."
Pros: I like that I am a subject matter expert.
Cons: I don't like that I work for everyone.

Contract Specialist in Kailua-Kona:
"Policy adherence, inconsistent weekly hours."
Pros: Relationship with my manager.
Cons: Longer hours due to time I t takes for Sales agent to close a deal. The culture is not consistent with corporate policy and n procedures. Start up site with goals expectations not being met. Stressful.

Contract Specialist in Atlanta:
Pros: Flexible work arrangements (only when the work gets done).
Cons: There have been ten City Managers within the five years that I have been employed. The City Council seems to decrease the morale - at times. At other times, the politics of Council keep the employees and the City, safe and vibrant.

Related Job Salaries

Key Stats for Contract Specialist

Gender

Female
64 %
Male
36 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 349 votes.
Less than 1 year
4%
1-4 years
43%
5-9 years
25%
10-19 years
20%
20 years or more
8%

Experience Affects Contract Specialist Salaries

▲32%

▲20%

▲12%

National Average
$56,000

▼10%

Skills That Affect Contract Specialist Salaries

▲12%


▲9%

Business Analysis
▲7%




Legal Research
▲3%


National Average
$56,000






Data Analysis
▼22%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 349 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
4%
1-4 years
43%
5-9 years
25%
10-19 years
20%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 78%
vision benefits
Vision: 69%
no benefits
None: 13%