Contract Management Career Path Levels
Last Updated January 5, 2021
Contract management (CM) professionals are specialists in the field of external business dealings. When an organization enters into an agreement with someone outside of the organization, whether this person acts as a lone individual or represents a much larger company, the deal is finalized in a contract. Given how often businesses tend to do this today, specialists in the various stages of contract formation and implementation can become valued members of a management team. Through working to improve contract terms and ensure adequate deliveries, CM professionals often serve as representatives of sorts for any organization that seeks to do external negotiations.
The Contract Management career path functions at three distinct levels: entry-level, mid-level and senior level. Here, we introduce these three levels in order to provide a glimpse into what a typical CM career entails for interested students.
Entry-Level CM
At the entry-level, CM professionals are generally tasked with handling lower risk contracts for their organization. Contracts tend to be standardized to allow newer professionals a sense of what CM involves without them having to worry about significant errors. Specific duties at this level typically focus on ensuring contracts meet all necessary regulations, and that teams are fully aware of the steps necessary to meet their end of the deal. Drafted contracts tend to be simple with minimal variation.
Entry-level positions in CM are generally designed for those with two-to-five years of business experience and at least a bachelor’s degree in a related field.
Mid-Level CM
Both the mid-level and senior-level CM stages may have a varied focus depending on whether professionals are asked to supervise others or to deal more with the technical details of contracts. Working in one does not necessarily preclude working in the other, but some organizations nevertheless tend to specialize.
At the mid-level, CM professionals deal with riskier contracts that may be varied in their approaches. As such, mid-level professionals need to be quite a bit more flexible than those at earlier stages in their careers. Many mid-level professionals are expected to be more independent in their dealings and analysis, with specific duties that include supervising negotiation teams, planning strategies for contract implementation, analyzing new laws or regulations and serving as a focal point for contract-related correspondence.
In addition to more than seven years of related business experience, mid-level positions require at least a bachelor’s degree. However, at this level, an advanced degree is often strongly recommended.
Senior-Level CM
At the senior-level, CM professionals tend to see the riskiest contracts with the greatest degree of strategic planning and analysis. Senior-level professionals oversee all other members of the CM team, as well as oversee development and implementation of each of an organization’s various contracts. As the managing leaders of CM and organizational outreach, senior-level professionals are often seen as company representatives in the formation of new business alliances. As such, many senior-level professionals receive some executive responsibility and are well-positioned to advance to upper management roles.
Senior-level positions generally require both an advanced degree and more than 10 years of business experience in the field.
Additional Information
Contract Management is a growing field with significant demand in both private and public-sector organizations. For more information and for options in continuing education and certification exam preparation, Villanova University offers a 100% online Certificate in Contract Management for professionals interested in exploring career advancement opportunities. Interested professionals are encouraged to contact a representative for more information.
