Whether a firm is looking to join forces with or acquire another firm under its umbrella, purchase goods for resale, or enact any other number of business-oriented agreements, contract management will play a huge role in the success of such agreements. Customers, venders, and employees are just a few of the many possible entities that a business will hold a contract with.
Career Opportunities with this Degree
The prototypical advanced degree in acquisition and contract management falls under the guise of a Master of Science. While it is probable that there will be little or no job growth through 2018 for buyers, purchasing managers, or other likely career fields that such a degree would lead to, obtaining a master’s degree will heighten job prospects in a field that is competitive and specialized.
Jobs & Salaries with This Degree
Obtaining a Master of Science degree that centers on the study of acquisitions and contract management can lead to a number of career-growth opportunities. Successful candidates will be well equipped to lead companies through successful mergers and acquisitions. Candidates may also earn opportunities as a corporate or retail buyer, purchasing manager or contract administrator. The median annual wages of retail buyers is approaching $50,000, while the median annual wage for purchasing agents is close to $54,000. Administrative services managers, who are often responsible for the acquisition of property, supplies and equipment for businesses or other organizations, may find the median annual salary approaching $74,000.
Requirements for Earning this Degree
A bachelor’s degree is a typical requirement for admission into an advanced degree program like a master’s in acquisition and contract management. Once admitted, students will study business strategy, business and contract law, negotiation, product inspection and auditing, contract management methods, and more. Effective product analysis is a key component to such a degree program, giving acquisition and contract management specialists the tools to properly scrutinize potential transactions of scale for their organizations.
