$59,885
Avg. Salary
$21.38
Avg. Hourly Rate

Average additional compensation:

$1,971

Bonus

$1,895

Profit Sharing

$6,700

Commission

What am I worth?
How should I pay?

The average pay for a Contract Specialist is $21.38 per hour.

The average pay for a Contract Specialist is $59,885 per year.

10%
$14.85
10%
$21.38
50%
$35.05
90%
90%
MEDIAN $21.38
10%
$41k
10%
$60k
50%
$91k
90%
90%
MEDIAN $59,885
$40,748 - $90,999
$41K
$60K
$91K
MEDIAN: $59,885
10%
50%
90%

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$14.85 - $35.05
$15
$21
$35
MEDIAN: $21.38
10%
50%
90%

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$0$90K
Salary $40,748 - $90,999
Bonus $0.00 - $7,900
Profit Sharing $0.00 - $6,851
Commission $0.00 - $30,791
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).
)
$38,055 - $89,437
  • Country: United States
  • Currency: USD
  • Updated: 16 Apr 2019
  • Individuals Reporting: 2,676
Hourly Data $0$49
Hourly Rate $14.85 - $35.05
Hourly Tips $0.40
Overtime $21.59 - $49.66
Annual Data $0$89K
Bonus $0.00 - $7,900
Commission $0.00 - $30,791
Profit Sharing $0.00 - $6,851
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).
)
$38,055 - $89,437
  • Country: United States
  • Currency: USD
  • Updated: 16 Apr 2019
  • Individuals Reporting: 794

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.

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.

Contract Specialist Pay By Employer

$0$114K

$59,809

$67,757

$65,123

U.S. Army
15 profiles
$83,684

U.S. Navy
10 profiles
$67,563

Raytheon Co.
9 profiles
$59,344

$25,393

$62,770

$45,028

$76,987

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 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: $57,179

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).

Related Job Salaries

Key Stats for Contract Specialist

Gender

Female
66 %
Male
34 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 617 votes.
Less than 1 year
4%
1-4 years
42%
5-9 years
25%
10-19 years
20%
20 years or more
8%

Experience Affects Contract Specialist Salaries

▲30%

▲18%

▲11%

National Average
$57,000

▼12%

Skills That Affect Contract Specialist Salaries

▲10%


▲7%

Business Analysis
▲5%




Legal Research
▲1%


National Average
$57,000






Data Analysis
▼23%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 617 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
4%
1-4 years
42%
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: 12%