what is a contract administrator?
As a contract administrator, you oversee the creation and negotiation of contracts. You also assist with ensuring that third parties uphold the contracts. Your expertise in legal agreements is helpful for organisations that deal with several third parties. Aside from creating new contracts, you track and update business agreements to prevent conflicts. You ensure third parties fulfil their obligations.
Contract administrators need financial and business acumen to get the best deal for their company. Your expertise ensures that the responsibilities of stakeholders and payment terms are clearly outlined. Since you work as a liaison between the company and its stakeholders, you provide the compliance and efficiency of contracts. In case of a dispute, you defend the company's interest and avoid wasting time and resources when resolving the issue. As a contractor, your work is the backbone of a productive and seamless partnership with suppliers and clients.
where do contract administrators work?
As a contract administrator, you work with companies that deal with multiple suppliers, vendors and contractors. Most contract administrators are employed in the construction industry. You can also work in mining and manufacturing companies to assist with preparing legal agreements for contractors and suppliers.contract administrator jobs
average contract administrator salary
The average salary of a contract administrator is $75,000 per year. Qualifications and work experience usually determine the remuneration package. That's why entry-level contract administrators earn a salary of $60,000 annually while experienced professionals take home over $90,000 per year.
what factors influence the salary of a contract administrator?
A contract administrator's salary depends on individual experience and qualifications. The industry sector and complexity of the role may also influence remuneration. Most employers look for contract administrators with diploma qualifications, so having additional qualifications like a bachelor's degree improves your remuneration package. Combining your qualifications with work experience is also a great way to increase your earnings. Contract administrators with over five years of work experience can negotiate higher pay due to the skills they bring to the role.
The sector you work in also impacts your earnings. Most contract administrators work in the construction industry, earning more than those in manufacturing. Depending on your position, working for the government may also pay less or more than the private sector.
Want to know what you will earn as a contract administrator? Check out what you are worth with our salary checker.
types of contract administrators
The types of contract administrators depend on your industry sector. Some include:
- construction contract administrators: you act as the intermediary between the construction company and its stakeholders. You double-check the terms and efficiency of the contracts to ensure the company gets favourable terms. Your job improves the performance of suppliers and vendors and promotes good relationships with clients. You also ensure the parties fulfil their obligations and adhere to the state laws.
- procurement contract administrators: you oversee legal agreements with suppliers and ensure they deliver goods on time and in the quantities stipulated in the terms. You will likely work for a manufacturing company that deals with multiple vendors and suppliers.
working as a contract administrator
You would make a great contract administrator if you can execute and negotiate contracts and have exceptional skills with written documentation. Read on for details on the roles and responsibilities.
education and skills
Your path to becoming a contract administrator depends on the business sector in which you want to work. For instance, a contract administrator in construction requires formal engineering, building and construction qualifications, at the same time other sectors only need business and legal training. Some of the qualifications include:
- certificate: to become a contract administrator, pursue a certification in building project support (contract administration). It equips you with the skills to work in medium-sized companies. Large construction companies require a bachelor's degree in construction management or engineering. Pursuing a bachelor of law also prepares you for the role.
contract administrator skills and competencies
Some of the qualities of a contract administrator include:
- communication skills: verbal and written communication skills are vital. You communicate the company's interests and demands. You also draft and develop legal agreements. Communication skills help you maintain clarity throughout negotiations and pass information effectively.
- negotiation skills: as a contract administrator, you require advanced negotiation skills to secure the most favourable terms for your company. Negotiation skills improve your confidence and make you assertive, ensuring better outcomes.
- analytical skills: as a contract administrator, you create contracts and record their terms. Being analytical helps you minimise errors and risks by identifying contentious clauses and loopholes when reviewing contracts from other parties.
FAQs about working as a contract administrator
Here are the most asked questions about working as a contract administrator: