Masters Degree in Procurement and Contract Management
A master's degree in procurement and contract management is an advanced degree ideally suited for experienced individuals seeking to hone their expertise in the field. Students are generally trained and developed for upper-level positions as administrative service managers.
Master's programs in contract management and procurement are designed for working professionals already in the contract administration field. Programs provide a foundation for understanding the strategies and operations of federal procurement practices; students gain a complete understanding of the contract life cycle and its stages. Coursework covers commercial, international, and government contracts, preparing students for advanced positions in contract administration. Topics of study may also include business ethics, corporate finance, contract negotiating, and supply chain management.
- Program Levels: Master's
- Prerequisites: Bachelor's degree in business-related area; prior coursework in statistics and finance (varies based on experience/education)
- Program Length: 2 years
Master's Degree in Procurement and Contract Management
Master's students in this program increase their knowledge of legal and ethical issues, financial analysis, contract negotiation, and risk management through curricula that focuses on real world problem solving and decision making through team exercises, hands-on applications, and lectures. Courses cover the areas of contract management, including federal procurement, legal issues, and the new areas of international contracting and outsourcing. Students gain mastery of the procurement process and regulatory requirements through courses such as:
- Government contracting
- Organizational theory
- Financial decision-making
- Economic analysis
- Contract law
- Purchasing and logistics
Employment Outlook and Salary Info
Career opportunities for all kinds of administrative services managers, including contract administrators, are expected to grow by about 8% between 2014 and 2024, according to the U.S. Bureau of Labor Statistics (BLS). In May 2015, the median annual salary among administrative services managers, such as contract administrators, was $86,110.
Continuing Education Information
Certification can be earned through such organizations as the National Contract Management Association. Individuals with an undergraduate degree and a certain amount of continuing professional education hours qualify for three types of certification, including federal, commercial, and professional contracts. Once students meet the requirements, they're eligible to take the applicable exams.