What does contract management training? Related areas of study include logistics management, procurement management, and supply chain management. Most businesses need people that have contract management training. Someone has to be in charge of purchasing, and that covers things like raw materials, goods, services, and labor. It also covers very important legal transactions like purchase agreements and mergers. You will have a key position with a great deal of responsibility. You will also need specialized knowledge and education. Here are some things to know about this profession. Your job may require contract management training. If so, you may handle purchases, acquisitions and many legal matters for your company. You will need education in economics, business law, accounting, and other subjects. When you graduate, you will understand purchasing agreements and negotiation techniques.
Contract Management Education and Training
Many of these positions may require a Master’s degree in business. However, there are some that may only require a Bachelor of Business Administration degree. If so, you should concentrate your education on things like acquisitions and sales for business. Also, you will need a great deal of knowledge on the legal aspects of business. Expect to take courses like these for your degree.
- Cost analysis
- Marketing Principles
- Business Law
- Cost Analysis
Master’s Degree in Contract Management
For a master’s degree in contract management, you may require more specialization. You may not need a specific degree for your Bachelor’s, but requirements may vary. If you plan to work in government, public, or private industry, that is where most of your studies should be. Here are some contract management training courses that you may wish to consider.
- Project Management
- Financial Analysis
- Business Ethics and Law
- Payment Planning and Processing
- Advanced Accounting
- Quality Control and Management
Contract Management Careers
There are many important positions for those with contract management training, in business today. There may be contract management jobs in government, banking, construction, as well as corporate positions. When you graduate, you will have an understanding of purchasing agreements as well as business law. You will be qualified to make many important business decisions as an administrative manager, also.
Jobs in administrative services are found in a wide variety of industries. However, some sectors have more than others and may present better opportunities in the future. Education contains the most positions, with fifteen percent of the jobs.
Health care and local governments are next with 12% percent. The insurance and finance industries are at 9% percent. The future is about average for employment, and the many jobs are available in education, health care, and local government. However, there will still be a fair number of jobs needed in finance and insurance.
Estimated Income and Projected Career Outlook
The United States Bureau of Labor predicts and average growth of about 12% in the coming years. There will be a great deal of competition for the higher paying jobs, and not as much for the lower paying ones. These figures may vary according to areas.
Purchasing managers may make $40,000 to $80,000 per year. However, administrative managers have more duties, but they may also have higher pay and more benefits. Some of these jobs may earn $100,000 or more per year, depending on the situation. This is according to the U. S. Bureau of Labor.
The median annual wage of purchasing managers, buyers, and purchasing agents was $58,360 in 2010, according to the Bureau of Labor Statistics (BLS). The lowest 10% earned less than $34,110, and the top 10% earned more than $105,610. The employment of these professions is expected to increase 7% from 2010 to 2020.
The median annual wage of logisticians was $70,800 during the same period. The lowest 10% earned less than $43,530, and the top 10% earned more than $108,080. The employment of logisticians is expected to grow 26% from 2010 to 2020.
You may hold a job as purchasing agent, administrative manager, or other position. Income can vary, between $40,000 and $100,000. Contract management training is therefore important in advancing in this career path.
Contract Management Programs
- Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
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- Bachelor of Science in Professional Studies - Business
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- Bachelor's (BBA) - Management
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- Ranked among the Best Online MBA Programs and Graduate Business Programs for 2017 by U.S. News and World Report
- Coursework covers topics like project management, management fundamentals, and business strategies
- Business students complete a capstone class that demonstrates their knowledge of business concepts
- Master of Business Administration
- Bachelor of Science in Business Administration - General
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At Kaplan University, we offer over 180 degree and certificate programs. With three different ways to learn, you can choose the format that works best for you:
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