The Confusing Era of Modern Philosophy
People often think modern philosophy covers today, but it actually refers to an era ending in the early 1900s. Contemporary philosophy is the specific, separate term for the work done from the 20th century to now.
The history of thought is split into rigid academic eras that do not always match up with daily speech. While modern philosophy deals with thinkers from the 17th to the 19th centuries, the contemporary period marks the era when philosophy became a professionalized discipline. This shift saw the rise of two major branches, analytic and continental thought, which dominate universities today. Understanding these distinct timeframes prevents the common mistake of grouping centuries-old ideas with the work of modern scholars.
Source: Contemporary philosophy