A contract management degree is a bachelor program that teaches you the necessary skills to begin a career in contract management.
In this program, you can also hone your leadership skills and study its various applications across industries. Professionals who understand the ins and outs of contracts and legal documents are essential parts of any business organization. Because of this, your developed expertise is likely to be valued in the workforce.
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If you’re debating whether a contract management degree is right for you, read on to learn more about this program and its potential outcomes.
Online Contract Management Degrees
An online bachelors degree in acquisition and contract management teaches you the skills that are needed to enter a business institution as an essential member of the team.
Businesses conduct many transactions and acquisitions, so they are in need of professionals who can help protect them in the process. It’s strategic for contract managers to have a keen eye for detail and understand the nuances of a legally binding contract.
There are a variety of subjects you can expect to study in these programs. While these can vary depending on the program you choose, there are some core competencies that are likely to be shared between programs. These may include:
- Business law
In your studies, you’ll spend time learning how to use and apply contract audits, delve into the acquisition cycle, apply regression analysis, and more. All of these core topics are essential to roles that handle and manage contracts.
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If you were to become a contract manager following graduation, then your primary responsibilities would include creating contracts and having them signed during transactions. That said, some students pursue related positions that work with contracts. Related occupations may include:
- Administrative service manager
- Logistics manager
- Purchasing agent
- Labor relations specialist
- Human resources manager
Some graduates go on to receive masters degrees. This may grow your chances of qualifying for management positions, depending on the organization. A masters program also lets you delve deeper into a subject you’re passionate about.
If you have an eye for detail and wish to perform an essential function within the organization you join, then a contract management degree may be right for you.
Contract Management Careers & Salaries
A bachelor degree in acquisition and contract management is designed to teach you skills that are valuable in the business landscape.
You can learn about contract negotiation, the value of proper management, and the different types of contracts. Because of these skills, graduates usually occupy various business specialist and management positions.
According to the Bureau of Labor Statistics, here are the median wages of careers related to contract management.
|Careers||Annual Median Salaries|
|Human Resources Managers||$130,000|
|Administrative Services Managers||$103,330|
|Transportation, Storage, and Distribution Managers||$98,560|
|General and Operations Managers||$98,100|
|Financial and Investment Analysts||$95,080|
|Labor Relations Specialists||$82,010|
|Buyers and Purchasing Agents||$67,620|
|Human Resources Specialists||$64,240|
The above positions cannot be guaranteed since many factors influence the hiring process. While there is no guarantee, getting a degree in procurement and contract management may help you grow your qualifications for a range of positions in finance and business.
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Management positions often require work experience, but job qualifications will depend on the employer. A background in contract management is applicable to a range of business careers that handle contracts on a day-to-day basis.
Contract Management Bachelor’s Curriculum & Courses
A degree in procurement and project management will require you to take a variety of courses before you can graduate. Some courses you may encounter during your studies include:
- Accounting for Non Accounting Majors: This course will give students a foundation in the basic principles of accounting.
- Basics of Business: In this course, you’ll become familiar with contemporary global and American business environments as well as basic business principles.
- Project Management for Business Analysts: In this course, you’ll learn how to understand and manage the developmental life cycle of a project.
- Research, Analysis, and Writing: This course will help build your ability to conduct thorough research and craft quality research questions and papers.
- Acquisition Business Management: This course will expose you to common financial issues like earned value analysis, budgeting and execution, and cost estimating.
- Business and Professional Writing: This course delves into the essential business and management documents.
- Elementary Statistics: In this course, you’ll study normal curves, probability, frequency distributions, and more.
- Management of Organizations: In this course, you’ll study planning, leading, controlling, and more as it pertains to an organization.
- Seminar in Economics: This course provides a rigorous examination of both macroeconomics and microeconomics.
- Principles of Macroeconomics: This course delves into the basic elements of American economics.
You can check out the curriculum of different programs to see if its courses align with your interests.
To qualify for an online bachelors degree in acquisition and contract management, it’s necessary to meet several admissions requirements.
Below is a list of standard admissions criteria for bachelor programs so you can begin preparing for the application process:
- High school diploma or GED
- Letters of recommendation
- Personal essay or statement
- Official high school transcripts
The admissions requirements listed above can vary depending on the schools of your choice.
When an institution has been deemed consistent at providing students with a high-quality education by a regional accrediting agency it can receive regional accreditation.
If you’re looking to increase your job prospects following graduation, having an accredited degree could be advantageous in your job search. Graduating from an accredited school certifies that you’ve completed a rigorous curriculum, and employers tend to trust the education offered by accredited schools.
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Enrolling in an accredited school can also be an eligibility requirement for receiving certain forms of financial aid, such as government aid.
Financial Aid and Scholarships
Many students seek financial aid to help cover the upfront costs of their education. If you’re wanting to apply for financial assistance opportunities, there are several options you can explore.
Filling out and submitting a FAFSA tends to be the first step for many students. This is the formal application to see if you qualify for federal aid in the form of student loans, grants, or work-study programs. Scholarships are aid opportunities to explore that don’t require you to pay them back. These monetary awards can be offered and awarded by a range of sources, including your school, public organizations, and private institutions.
What Is a Contract Management Degree?
A contract management degree is a bachelors program that prepares students for positions in business that create, handle, or work with contracts. Contract managers play a vital role in creating and executing contracts that protect the interests of both parties.
As such, this major is responsible for teaching you about proper contract management as well as how to negotiate contracts that are to be used in transactions. Upon graduation, you may continue your education or directly enter the business or finance field.
What Can You Do with a Degree in Acquisition and Contract Management?
A bachelor degree in acquisition and contract management can help prepare you for various mid-level to high-level management positions across many areas of the workforce. While management positions often require experience as well, a background in contract management is also applicable to a range of roles that handle contracts.
It’s typical for contract management graduates to be found working in business, like in corporate finance or other organizations. Some related job titles include purchasing agent, buyer, logistics manager, administrative services manager, labor relations specialist, contract manager, and financial analyst.
What Does a Contract Manager Do?
Contract managers have several key roles. They are often tasked with gathering any and all relevant information to be put into a contract. They then create the legal documents that will be used during acquisitions or sales.
During these transactions, contract managers will set appointments, negotiate the terms, and ensure that both parties are fairly represented. Following the transaction, they will then properly store the documents so that they can be reviewed at a later date if necessary.
How Long Does It Take to Get a Bachelors in Contract Management Degree Online?
To earn a bachelor degree in acquisition and contract management, it’s necessary to complete approximately 120 total credits. If you’re considering transferring from another institution, then you may be able to transfer up to 90 credits from your previous studies, depending on the school’s transfer policy.
For most students, the completion of 120 credits generally takes 4 years of full-time study. That said, the duration of your studies may depend on several factors, including your school’s academic calendar and whether you study full-time or part-time.
What’s the Difference Between a Contract Manager vs. Project Manager?
Here are some key differences between contract managers and projects managers.
|Contract Manager||Project Manager|
Understanding the difference between these careers will help you choose the program that best fits your goals.
Is a Bachelor’s Degree in Contract Management Worth It?
Yes, a bachelor’s degree in contract management is worth it for many students. Contract managers provide a vital function for organizations and can often be found across many areas of business.
A background in contract management is also beneficial for a range of business and operations positions that handle contracts. Common careers related to this field include purchasing agents and managers, buyers, labor relations specialists, supply chain specialists, and administrative services managers.
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According to the Bureau of Labor Statistics, business and financial occupations are projected to grow 7% over the next ten years, which is as fast as average. Similarly, 8% job growth is projected for management occupations overall.
Universities Offering Online Bachelor in Contract Management Degree Program
Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited and offer degree programs online or in a hybrid format.
American Public University offers an online BA in Government Contracting and Acquisition. The curriculum focuses on practical applications rather than theory, providing opportunities to learn through simulations of real-world scenarios. Classes are 8 to 16 weeks long. Potential courses include Accounting for Non-Accounting Majors, Basics of Business, and Project Management for Business Analysts.
APUS is accredited by the Higher Learning Commission.
Athens State University offers a Bachelor of Science in Acquisition and Contract Management. The curriculum covers both federal and commercial contracting to help prepare students for a wide range of career opportunities. It covers how to negotiate and work through complications that can arise when companies acquire other companies.
Athens State University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
Norwich University offers a BS in Business Administration with a concentration in Procurement and Contract Management. There are several start dates offered every year. Coursework is 100% online. A final capstone course is required to give students a chance to apply their learning to real-world business scenarios.
Norwich University is accredited by the New England Commission of Higher Education.
Strayer University offers a Bachelor of Business Administration in Acquisition and Contract Management online. The curriculum is designed to develop skills in price analysis, negotiation techniques, and contract law. The program consists of forty 11 week courses, and each course typically requires a weekly time commitment of 10 to 14 hours. Strayer tries to maintain a low student-to-teacher ratio.
Strayer University is accredited by the Middle States Commission on Higher Education.
Trident University International offers an online Bachelor of Business Administration with a concentration in Contract Management. This flexible and convenient program explores all areas of business and aims to provide preparation for a variety of entry-level positions. Trident University International seeks to provide an engaging online learning community.
Trident University International is accredited by the Higher Learning Commission.
The University of the Potomac offers a Bachelor of Science in Government Contract Management. Classes are conveniently available both online and on-site and taught by business professionals with real-world experience. Potential courses include Principles of Financial Accounting I and II, Business Ethics and the Legal Environment, and Introduction to Project Management.
The University of the Potomac is accredited by the Middle States Commission on Higher Education.
Getting Your Bachelor in Contract Management Degree Online
Earning a degree in procurement and contract management online can be a strategic way to enter business settings with essential, versatile skills. During this program, you’ll study various topics that can help hone your competencies.
A contract management program can help develop your eye for detail and familiarize you with the specifics of contract and legal document terminology. With this knowledge, you can better qualify for management positions in business.
If you think an online bachelors degree in acquisition and contract management is right for you, you could get started researching accredited institutions today!