How to Become a Contracts Administrator
Step 1: Understand the job description and responsibilities of a Contracts Administrator
What does a Contracts Administrator do?
A Contracts Administrator develops, prepares, and administers contracts, bids, and proposals that meet specifications and comply with all policies and regulations. Supports or participates in contract negotiations with suppliers, partners, or customers. Being a Contracts Administrator reviews contract terms to identify any potential risk or compliance issues. Examines supporting materials and agreement documents related to bids or contracts and provides guidance. Additionally, Contracts Administrator acts as liaison between the organization and subcontractors to implement the contracts. Maintains contract records used to ensure compliance with reporting and regulatory requirements. Typically requires a bachelor's degree or equivalent. Typically reports to a manager or head of a unit/department. The Contracts Administrator work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be a Contracts Administrator typically requires 4-7 years of related experience.
A contract administrator makes sure the parties employ due diligence to comply with the terms, conditions, rights and obligations of the contract.
Contract compliance is a large part of the administrator's job.
As part of the monitoring process, the contract administrator inspects goods when delivered to make sure the delivery is per the agreement.
Payment usually is not made for goods or services until the administrator has determined that the terms of the agreement have been met.
The contract administrator is a key participant in this process.
Step 2: Learn best tips to become a Contracts Administrator
Best tips for those who want to become a Contracts Administrator
Here are some tips to become a Contracts Administrator.
We all get paid more or less what our true value is, if we want more we have to offer more value.
Work on your self as hard as you work on your job.
Ensure contract/subcontract requirements are met including; monitoring cost status, assisting in cost management; and coordinating issue resolution with customers.
Coordinate, develop and produce a wide range of complex procurement documentation.
Provide internal financial control services including, monitoring contract funding, and analyzing internal accounting reports for technical managers.
Step 3: View best colleges and universities for Contracts Administrator
Best colleges and universities for Contracts Administrator
- Butler University
- Carroll College
- Providence College
- Rollins College
- Taylor University
- Amherst College
Step 4: Think about whether is it worth to be a Contracts Administrator
Is being a Contracts Administrator Worth it?
Fantastic opportunity for a Contract Administrator to play a key role in our Pre-Award team.
Contracts administration may not sound like the most exciting job if you compare it to high-profile jobs like marketing or public relations, but it can offer a good income to those who'd rather not be in the limelight and enjoy detailed work.
Some companies hire contracts administrators who only have a high school diploma, but have one to five years of experience in the position.
But for the majority of jobs in contracts administration, a bachelor's degree with an emphasis in business, business law, economics or health administration is required along with the experience.
Some organizations and companies require contracts administrator certification as part of the qualification to apply for the job.
Step 5: Prepare relevant skills for being a Contracts Administrator
What skills do you need to be a Contracts Administrator?
There are skills required to succeed in every role, and this one is no different. Strategic knowledge of the follow skills will be required: Contract Compliance, Contract Lifecycle Management, Contract Negotiation, Contracts Management & Administration, Contract Review. For success, a grasp of the following is key: Contract Management Software. Your ability to stand out from the competition depends on these skills, as well as your resume, interview, and other factors.
The contract administrator should possess the skill to effectively work in coordination with managers within all organizational hierarchy to analyze sourcing and contracts strategies.
The contracts administrator should be able to eye new trends and make the recommendations for beneficial sourcing and procedure.
Working as a contract administrator requires a degree of customer support skill , ensuring internal and external client relations are running smoothly when it comes to contract drafts and negotiation.
Good decision making skills are critical in resolving conflict or infringements that arise from existing contracts in the business unit.
Savvy negotation skills can put you in demand as a contracts administrator.
Step 6: View average salary for Contracts Administrator
How much does a Contracts Administrator make?
The average salary range for a Contracts Administrator is from $80,746 to $102,160. The salary will change depending on your location, job level, experience, education, and skills.
- View average salary for the United States
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Average salary for Contracts Administrator jobs
- Contracts Administrator I
- Contracts Administrator II
- Contracts Administrator III
- Contracts Administrator IV
- Contracts Administrator V
- Entry Contracts Administrator
- Junior Contracts Administrator
- Provider Contracts Administrator
- Senior Contracts Administrator