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Contract Management Degrees

A Business degree in Contract Management or Acquisition and Contract Management is helpful in preparing a student for a future in handling mergers, complex business deals, or even buy outs. The salary level for a career in this field can depend on title, experience, and location but are higher than salaries requiring just a general business degree.

You will graduate with a great understanding of legal and financial regulations, how to compose acquisition strategies, accounting, finance, how to negotiate a contract, how to manage the acquisition and procurement of a property or business, and general business statistics, laws and practices. Your degree will allow you to work in the private or public sector. Many large companies and government agencies seek out professionals to negotiate contracts, handle mergers, complete the purchase of new companies, and assist in creating employment contracts.

Entry level contract managers earn around $40,000 annually while managers and executives earn upwards of $140,000. The need for contract and acquisition professionals will continue as business grow and expand over the next several years to come.

With the help of Careerschooladvisor, you can find a contract management college that is right for you.

Acquisitions and contract managers generally shop for a living. If you love shopping, you may even find this job somewhat entertaining. These specialists–also known as purchasing agents or buyers–their tasks is to buy things that companies need and goods for consumers to keep companies running. These buyers shop for things such as goods destined for resale, products as diverse as makeup, electronics, even office supplies. These professionals also buy things they need for their own company.

Purchasing professionals need to focus on getting the best deal for their company; in other words, buying the best products for the least amount of money. They consider sales records and inventory levels and keep track of the trend of products increasing and decreasing. Contract managers must have knowledge of economics and be familiar with their specific products they are buying. The U.S. Bureau of Labor Statistics states that job opportunities will be best for college graduates. Coursework in an online degree program for this career might include legal and financial courses, business law, and acquisitions and contract management methods.

The Bureau of Labor Statistics (BLS) states that the job opportunities for these professionals won’t change much, with slight expected declines in certain sectors. Getting your degree will give you an advantage in contract management positions. Some skills required include:

  • Knowledge of computer software and word processing
  • Communication skills
  • Decisiveness
  • Experience with supply-chain management

The great training you receive in a contract management degree program can make your resume stand out to many different employers. Many graduates can combine their acquisitions training with general college degrees in finance, accounting, or business to have a more well rounded education. Those seeking higher rankings may wish to pursue a master’s degree after they have experience and worked in this field for some time.

Contract Management Careers & Salaries

Half of all purchasing managers and buyers work in wholesale trade and manufacturing, putting most of their efforts on increasing the revenue of their companies. The federal government is also a large employer, as it contracts out over thousands of public services in America. Purchasing managers employed with these tasks may be required to buy various things such as machinery to airline tickets, and may also specialize in working with supply contracts. The nice part is that most of these workers have their own offices. Their hours may vary during sales or conferences, or as deadlines approach. If you love traveling, you will get the chance to travel some days per month, and those employed by international companies can travel overseas. There were about 529,000 professionals in this field in 2006, with a median salary of $80,000.

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