What is a Compensation and Benefits Manager?
Career Description Plan, direct, or coordinate compensation and benefits activities of an organization.
List of Benefits Manager Job Duties
- Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Analyze statistical data and reports to identify and determine causes of personnel problems and develop recommendations for improvement of organization’s personnel policies and practices.
- Maintain records and compile statistical reports concerning personnel-related data, such as hires, transfers, performance appraisals, and absenteeism rates.
- Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
Skills Needed to be a Benefits Manager
These are the skills Compensation and Benefits Managers say are the most useful in their careers:
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Types of Compensation and Benefits Manager
- Employment Advisor
- Wage and Salary Administrator
- Benefits Administrator
- Compensation and Benefits Manager
- Employee Benefits Manager
Benefits Manager Job Outlook
In 2016, there was an estimated number of 15,800 jobs in the United States for Compensation and Benefits Manager. New jobs are being produced at a rate of 5.1% which is below the national average. The Bureau of Labor Statistics predicts 800 new jobs for Compensation and Benefits Manager by 2026. The BLS estimates 1,200 yearly job openings in this field.
The states with the most job growth for Benefits Manager are Utah, Washington, and Arkansas. Watch out if you plan on working in Rhode Island, North Dakota, or New Mexico. These states have the worst job growth for this type of profession.
What is the Average Salary of a Benefits Manager
Compensation and Benefits Managers make between $70,560 and $205,470 a year.
Compensation and Benefits Managers who work in Delaware, New Jersey, or Colorado, make the highest salaries.
Below is a list of the median annual salaries for Compensation and Benefits Managers in different U.S. states.
|State||Annual Mean Salary|
|District of Columbia||$136,050|
What Tools & Technology do Compensation and Benefits Managers Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Compensation and Benefits Managers:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Microsoft Project
- Microsoft Visio
- Microsoft SharePoint
- Adobe Systems Adobe Photoshop
- Structured query language SQL
- IBM Notes
- Adobe Systems Adobe Illustrator
- Microsoft SQL Server
- Intuit QuickBooks
- Oracle PeopleSoft
- Oracle JD Edwards EnterpriseOne
- Adobe Systems Adobe Dreamweaver
How to Become a Benefits Manager
What education is needed to be a Compensation and Benefits Manager?
How many years of work experience do I need?
Who Employs Compensation and Benefits Managers?
The table below shows some of the most common industries where those employed in this career field work.
Those who work as a Compensation and Benefits Manager sometimes switch careers to one of these choices:
Image Credit: Arunkumar Umapathy via Creative Commons Attribution-Share Alike 4.0 International
More about our data sources and methodologies.
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