Contract Administration Career Path
Many contract administration jobs begin with an administrative employee being transferred or promoted into a position that involves management of contract resources, or contract-driven projects or processes. In these cases, the individuals are often trained on the job or provided with formal training by the business, in order to augment their skill set to meet their new responsibilities. Other individuals moving into contract administration jobs pursue courses with certificate programs or educational institutions, in order to increase their effectiveness and improve their prospects for career advancement. Still other contract administrators graduate from colleges with degrees in law or business, and seek jobs in contract administration where they can augment their academic preparation with experience in the workplace.
Once an individual is employed in a contract administration job, advancement is generally determined by experience and seniority. The variety of types of contracts, and the legal and industrial contexts in which they occur, means that the details of a job of contract administration can be very different from one working environment to the next. Entry-level employees often start out as assistant contract administrators, managing limited aspects of existing contracts in order to help contract administration managers and learn the details of contract processes for the business.
As the employee gains experience and familiarity with the relevant guidelines, laws, and priorities, the responsibilities of the position may increase to include contract negotiation, purchasing, supervision of employees, compiling reports, and other contract-related duties. People who have five or more years of experience in contract administration jobs may become contract administration managers, directing teams of contract administrators and other professionals in order to coordinate and optimize contract-related aspects of the business.
Contract Administration Earnings
According to Salary.com, the salaries for contract administration jobs are based on the job holder’s level of education and number of years of experience in contract administration or related fields. An entry-level contract administrator with a bachelor’s degree, working in a large city in the U.S., can expect to make between $40,000 and $50,000. After two years of experience, the salary range for contract administration jobs increases to $50,000 to $63,000. After four years of experience, a contract administrator can expect to be making between $60,000 and $80,000 per year. If a contract administrator is promoted to contract administration manager or an equivalent position, the salary received will tend to range between $80,000 and $130,000 per year, with regular increases as the individual gains experience and seniority.