A bachelor`s degree is likely the minimum training requirement for a contract coordinator specialist, although there are associate degrees in purchasing disciplines. Due to the specialized nature not only of the role, but also the role within different companies, significant specific industry experience may be required. A candidate with a bachelor`s degree in business administration, accounting, or a related field has the advantage of more general degrees, although a bachelor`s degree combined with business courses without a degree may improve eligibility. A degree combined with purchasing certificates and industry experience is the strongest qualification. A contract coordinator is responsible for negotiating, drafting and monitoring contracts between companies and their suppliers or suppliers. As a contract coordinator, you will work on the purchase of goods and services, review proposals and choose the best options. These specialists can find employment in companies, hospitals or government agencies and usually report to contract administrators. To pursue a career as a contract coordinator, you typically need a bachelor`s degree in economics, finance, or a related field, as well as relevant work experience with purchase contracts. Additional qualifications include attention to detail and strong analytical skills.
Master`s degrees enhance your basic qualification for a specialized contract coordinator position. The value of a master`s degree, especially in business administration, comes later in your career when you reach high-level positions. The BLS points out that job growth prospects for purchasing managers over the next decade are growing more slowly than the national average, so the increased prestige and flexibility offered by an MBA can be an advantage for vertical and lateral mobility after contract coordination. In addition, master`s degrees can place a candidate higher in the salary scale in many companies. The position directly above most contract coordinator jobs is contract administrator. Contract administrators oversee the work of contract coordinators and train them in contract policies and procedures. They assign tasks to the coordinators, but are responsible for keeping the relevant records of all contracts. Most contract managers have a bachelor`s degree in business administration and facilities management. The average salary of a contract manager in 2014 was $59,000 a year, according to Glassdoor. Most contract coordinators work in offices during normal business hours. The job can become stressful as it helps supervisors meet contract negotiation deadlines, whether they start, renew or replace suppliers. They may sometimes meet with new suppliers outside the office to better assess their shipping and fulfillment skills.
Many contract coordinators have certain skills to carry out their duties. By reviewing the resumes, we were able to refine the most common skills for someone in this position. We found that many resumes list analytical skills, math skills, and writing skills. Contract coordinators assist administrators in negotiating the terms, timelines and payments of contracts with service providers and suppliers. You create purchase order numbers for all suppliers and manage payments through your employers` accounts payable. Contract coordinators also maintain contract files and ensure that the right departments are overloaded, which helps accounting departments better allocate and manage the company`s budgets. Other important functions of this work are the evaluation of supplier performance and the separation of contracts from those that do not meet their standards. For example, a contract coordinator may stop buying from a food supplier if the company does not offer discounts offered by its competitors. A low-cost purchase can affect and break a company`s bottom line, so the contract coordinator specialist has the potential to have a huge impact on the company`s performance.
The purchasing coordinator`s area of responsibility places them in medium to upper management, so recruiters are looking for top-notch training in addition to company knowledge and industry experience. The “Skills” section of your resume can be almost as important as the experience section, so you want it to be an accurate representation of what you can do. Luckily, we`ve found all the skills you need, so even if you don`t have those skills yet, you know what you need to work on. Of all the resumes we reviewed, 10.9% of contract coordinators have procedures listed on their RESUME, but soft skills like analytical skills and math skills are also important. As with many job titles, the specific duties of a contract coordinator specialist can vary greatly from one company to another that uses the title. The Bureau of Labor Statistics examines the role of materiel procurement, categorized with purchasing managers. The focus on contract coordination indicates a focus on negotiations with suppliers, contractual terms, analysis of delivery costs, and supervisory or management responsibilities. The specialist can also be a link between suppliers and other departments. Contract coordinators create, negotiate prices and monitor the progress of contracts with suppliers and service providers. They work for companies, hospitals or government agencies, where they review supplier proposals and select those that best suit their needs and budgets. They also work with department heads to get contracts approved. Contract coordinators generally report to contract administrators or administrative service providers.
In 2014, they earned an average of $45,000 a year, according to employment and career reference site Glassdoor. As you progress in your career, you may begin to take on more responsibility or notice that you have taken on a leadership role. Using our career map, a contract coordinator can determine their career goals through their career progression. For example, they can start with a role as Contract Administrator, move to a title like Office Manager, and then end up with the Title Business Office Manager. The U.S. Bureau of Labor Statistics does not forecast the number of jobs for contract coordinators. It estimates a 12% increase in employment from 2012 to 2022 for secretaries and administrative assistants, who perform many functions similar to those of contract coordinators. This is roughly equivalent to the national rate for all occupations. Companies cannot replace the interpersonal skills of secretaries and administrative assistants with technological advances, which should lead to stable employment opportunities. The average salary for secretaries and administrative assistants was $34,000 per year in May 2013, according to BLS. In 2014, Glassdoor reported average salaries of $39,000 for administrative assistants. *Salary estimates (ZipEstimate) are not verified by employers; Actual compensation can vary widely.