Online Degrees in Contract Management

Listed below are colleges and universities that offer online degrees or certificates in Contract Management and a detailed list of the programs that are offered.

The Need for Contract Managers

Contract Managers are a vital part of most large businesses. Contract managers are generally involved with or part of the procurement or purchasing departments of an organization. As the name implies, the main responsibility of a contract manager is to ensure that the supplier, someone providing goods or services, to a company or organization respects their negotiated contract terms. The contract manager is also critical to the negotiating, accepting, and signing of contracts with suppliers of goods or services.

Job Outlook for Contract Management

The employment outlook for contract managers varies according to federal and state budgets and also the economy.  It is estimated that many areas in contract management will see about average job growth or better through 2018. The following table shows different positions in the contract management industry and the expected job growth for these careers through 2018, according to the United States Bureau for Labor Statistics:

As long as businesses continue purchasing and acquiring goods and services and our government continues to need goods and services provided by private companies, the contract management industry will be running and keep all those contracts organized and managed effectively.

Salary Forecast for Contract Managers

Great Career Choices with Great Salaries in Contract Management Contract management offers many great career opportunities with great paying salaries. Below is a list of some of the different careers in the field of contract management and the average salaries of these careers as of 2008, according to the United States Bureau of Labor Statistics and the website Payscale.com

Contract Management Salaries by Company and Industry Type

The average salary for government contract managers in the United States and according to the Simple Hired Website’s statistical data is $62,000 annually. Large employers in the United States, who hire and utilize many contract managers and their average salaries according to Payscale.com, are listed below:

Certain industries are more prone to hire contract managers then others. These industries are generally involved in government contracting, large supplier procurements, military contracting projects, technology, and construction. This information was gathered from the Payscale.com website.

Contract Management College Degree Requirements

Contract management is a job requiring excellent organizational and communication skills. Most contact managers need some form of post-secondary education or training before getting hired. Most large companies employing contract managers require them to have at least a bachelor’s degree or a master’s degree.

• Bachelor’s Degree (4 Year College Degree)
• Master’s Degree (2 Years beyond Bachelor’s Degree)

Master’s degrees available specifically in the field of contract management have many different names; however the names for these graduate degrees generally fall into some of the following general categories:

• Master’s of Contract Management
• Master’s of Science in Purchasing, Procurement, Acquisitions, and Contract Management
• Master’s of Business Administration in Acquisitions and Contract Management

Major Fields of Study for Contract Management

• Contract managers generally have bachelor’s degree in fields like:
• Business administration
• Contract management
• Government contracting
• Purchasing, procurement & acquisitions
• Economics
• Finance
• Accounting

Professional Certifications for Contract Managers

Contract managers can also obtain professional certifications to assist them in obtaining better jobs and moving up the corporate ladder.
Some of these certifications include:

• CFCM-Certified Federal Contracts Manager-Requirements include a bachelor’s degree from U.S. College, 1 year of government contracting management experience, 80 hours of continuing education experience, and passing of an examination.
• CCCM-Certified Commercial Contracts Manager- Requirements include a bachelor’s degree from U.S. College, 1 year of contracting management experience, 80 hours of continuing education experience, and passing of an examination.
• CPCM-Certified Professional Contracts Manager- Requirements include a bachelor’s degree from U.S. College, 5 years of contracting management experience, 120 hours of continuing education experience, and passing of an examination.