When a contractual agreement is being discussed, a contract negotiator represents the interests of one party. A person who wants to work as a contract negotiator should get a bachelor’s degree and then go to law school. In some cases, employers prefer to hire experienced salespeople rather than attorneys to fill negotiator positions.
Contracts come in a variety of shapes and sizes, but major corporations typically hire lawyers to negotiate contracts involving financial matters, labor disputes, mergers, and other types of complex issues. In many countries, the demand for law school places far outnumbers the supply. As a result, anyone interested in becoming a contract negotiator must typically complete an undergraduate degree program with above-average grades. Many law firms offer unpaid internships as a way for students to gain experience. Individuals who have successfully completed internships are often able to find contract legal work more easily than those who have not.
Contracts are governed by both national and regional laws in many instances. Multinational corporations are also bound by some international laws. As a result, anyone interested in working as a contract negotiator for a large corporation should be familiar with all aspects of the law that apply to the company’s operations. Furthermore, law school graduates in many countries must pass a law exam before they can begin advising clients on contracts and other legal matters. Before looking for work, prospective contract negotiators must typically pass the national law exam.
While contract negotiations can be complicated, some companies hire a team of attorneys to draft the contract’s key sections but use salespeople to conduct the actual negotiations. These individuals have the authority to change some of the agreement’s terms, such as the price or quantity of goods or services to be provided. These salespeople are frequently paid on commission and do not receive a salary. Negotiators risk losing some of their commission if they make financial concessions during contract negotiations. Those who want to work as contract negotiators should have persuasion skills and the ability to quickly calculate the benefits and drawbacks of agreeing on a specific price for a contract.
Salespeople who work as contract negotiators frequently have a bachelor’s degree in finance or business. These individuals must typically gain some industry-related sales experience before working as negotiators. Some companies promote entry-level salespeople into sales negotiator roles in addition to hiring college graduates. The best-performing salespeople are usually given the opportunity to fill these positions, though many times they must first complete an in-house training course.