All About Compensation and Benefits Managers
Job Description: Plan, direct, or coordinate compensation and benefits activities of an organization.
Life as a Benefits Manager: What Do They Do?
- Represent organization at personnel-related hearings and investigations.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
- Design, evaluate and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
- Contract with vendors to provide employee services, such as food services, transportation, or relocation service.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
Qualities of a Benefits Manager
Below is a list of the skills most Compensation and Benefits Managers say are important on the job.
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.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Related Job Titles
- Payroll Manager
- Benefits Administrator
- Account Manager
- Employee Benefits Coordinator
- Employee Benefits Director
Job Outlook for Compensation and Benefits Managers
There were about 15,800 jobs for Compensation and Benefits Managers in 2016 (in the United States).
New jobs are being produced at a rate of 5% which is lower than average. The Bureau of Labor Statistics predicts 800 new jobs for Compensation and Benefits Managers by 2026. The BLS estimates 1,200 yearly job openings in this field per year.
The states with the most job growth for Compensation and Benefits Managers are California, New York, and Florida.
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.
How Much Does a Benefits Manager Make?
The typical yearly salary for Compensation and Benefits Managers is somewhere between $70,560 and $205,470. The median salary for this occupation is $121,010.
How much do Compensation and Benefits Managers make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
|
New Jersey |
$174,730 |
|
Delaware |
$174,380 |
|
Connecticut |
$164,240 |
|
New York |
$161,950 |
|
Colorado |
$155,570 |
|
California |
$150,480 |
|
Maryland |
$149,160 |
|
Virginia |
$148,800 |
|
Pennsylvania |
$144,320 |
|
Washington |
$143,180 |
|
Minnesota |
$139,350 |
|
District of Columbia |
$136,050 |
|
Michigan |
$133,450 |
|
Massachusetts |
$131,250 |
|
North Carolina |
$128,400 |
|
Ohio |
$128,020 |
|
Missouri |
$126,480 |
|
Illinois |
$126,470 |
|
Georgia |
$125,710 |
|
New Hampshire |
$123,170 |
|
Nevada |
$121,620 |
|
New Mexico |
$119,050 |
|
Nebraska |
$118,870 |
|
Texas |
$118,400 |
|
West Virginia |
$117,970 |
|
Wisconsin |
$114,280 |
|
Iowa |
$113,390 |
|
Kansas |
$112,330 |
|
Alabama |
$108,580 |
|
Florida |
$108,330 |
|
Oregon |
$108,130 |
|
Maine |
$106,200 |
|
Arizona |
$105,980 |
|
Oklahoma |
$104,800 |
|
Arkansas |
$103,740 |
|
Indiana |
$102,850 |
|
Tennessee |
$102,550 |
|
South Carolina |
$102,540 |
|
Alaska |
$101,670 |
|
Utah |
$100,330 |
|
Kentucky |
$95,820 |
|
Idaho |
$87,100 |
|
Mississippi |
$86,740 |
|
Louisiana |
$84,970 |
What Tools 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:
- Oracle E-Business Suite
- Microsoft SharePoint
- IBM Notes
- Brainworks
- Enterprise resource planning ERP software
- ADP Workforce Now
- Microsoft Office
- Intuit QuickBooks
- Microsoft Project
- Microsoft Word
Where Compensation and Benefits Managers Work
You May Also Be Interested In…
Are you already one of the many Compensation and Benefits Managers in the United States? If you’re thinking about changing careers, these fields are worth exploring:
- Accountants
- Regulatory Affairs Managers
- Financial Managers, Branch or Department
References
Image Credit: Via Wikimedia Commons
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