Master's degree programs in contract management and procurement are designed for working professionals in the contract administration field who want to pursue advanced positions. Programs provide a foundation for understanding the strategies and operations of federal procurement practices. Students gain a comprehensive understanding of each stage of the contract life cycle. Coursework covers commercial, international, and government contracts. Other topics of study include business ethics, corporate finance, contract negotiation, and supply chain management. In order to apply to this two-year program, students must hold a bachelor's degree in a business-related field, preferably with prior coursework in statistics and finance.
Master's Degree in Procurement and Contract Management
In master's degree programs in contract management, students gain real world problem-solving and decision-making skills through team exercises, hands-on applications, and lectures. Common courses include:
- 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
Graduates can earn certification through such organizations as the National Contract Management Association. Individuals with an undergraduate degree and a certain amount of continuing professional education hours qualify to take the exams for three types of certification, which involve procuring federal, commercial, and professional contracts.
Overall, a master's degree in procurement and contract management can provide students with the theoretical and practical training they need for success in advanced positions in the field.