What Can I Do with an MBA Degree in Contract Management?

The Master of Business Administration (MBA) is frequently your key credential for promotion to the upper levels of management. With an MBA degree in contract management, you could advance quickly to at least second-tier management as you negotiate contracts and oversee work progress and payments. You could even aspire to a corner office as vice-president of acquisitions, purchasing, supply management or international contracting. Schools offering Procurement degrees can also be found in these popular choices.

Duties of a Contract Manager

As a contract management executive with an MBA, you do many tasks. You design, examine and negotiate contracts before approving them. You create evaluation methods to assure that the contracted work is being performed and that payments arrive as promised. You negotiate changes as needed, and you handle disputes and delinquencies. You may create, manage and audit Federal Supply and Multiple Award Schedule contracts.

Important Facts About a Career in Contracts Management

SpecializationsManufacturing, wholesale goods, federal government, military, and professional, scientific, and technical services
Key SkillsAnalytical, decision-making, math, and negotiation
Job Outlook1% increase from 2014-2024 (purchasing managers)
Work EnvironmentContracts managers primarily work in an office setting

Source: U.S. Bureau of Labor Statistics

Contract Management Salary

A contract management degree can earn you a good income. PayScale.com in 2015 said the median salary for contract managers was $79,610. This data was compiled from the responses of 2,135 workers in this field.

Employment Possibilities with a Contract Management MBA

With an MBA degree in Contracts Management, there will be a host of opportunities in both the private and public sectors. The vast majority of global companies and organizations enter into contractual agreements, driving a constant demand for the skill set acquired while obtaining an MBA in Contracts Management. Specific positions that may be available to you include contracts officer, purchasing agent, contracts analyst, and project manager.

Doing More with Your MBA Degree in Contract Management

Many opportunities for contract management professionals require specific certifications. For example, many military or defense contractors require that their acquisitions and purchasing staff hold a Defense Acquisition Workforce Improvement Act certification at level I, II or III. Your MBA degree program provided the education you need and perhaps some or all of the necessary coursework in Shaping Smart Business Arrangements and Mission Focused Contracting. Contract management experience is the only other requirement.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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