All About Compensation and Benefits Managers
Occupation Description Plan, direct, or coordinate compensation and benefits activities of an organization.
A Day in the Life of a Benefits Manager
- Maintain records and compile statistical reports concerning personnel-related data, such as hires, transfers, performance appraisals, and absenteeism rates.
- Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
- Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Represent organization at personnel-related hearings and investigations.
- Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
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Things a Benefits Manager Should Know How to Do
When polled, Compensation and Benefits Managers say the following skills are most frequently used in their jobs:
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.
Related Job Titles
- Employee Benefits Director
- Reimbursement Manager
- Field Reimbursement Manager
- Account Manager
- Compensation and Benefits Manager
Is There Job Demand for Compensation and Benefits Managers?
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. Due to new job openings and attrition, there will be an average of 1,200 job openings in this field each year.
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.
How much do Compensation and Benefits Managers make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $108,580 |
| Alaska | $101,670 |
| Arizona | $105,980 |
| Arkansas | $103,740 |
| California | $150,480 |
| Colorado | $155,570 |
| Connecticut | $164,240 |
| Delaware | $174,380 |
| District of Columbia | $136,050 |
| Florida | $108,330 |
| Georgia | $125,710 |
| Idaho | $87,100 |
| Illinois | $126,470 |
| Indiana | $102,850 |
| Iowa | $113,390 |
| Kansas | $112,330 |
| Kentucky | $95,820 |
| Louisiana | $84,970 |
| Maine | $106,200 |
| Maryland | $149,160 |
| Massachusetts | $131,250 |
| Michigan | $133,450 |
| Minnesota | $139,350 |
| Mississippi | $86,740 |
| Missouri | $126,480 |
| Nebraska | $118,870 |
| Nevada | $121,620 |
| New Hampshire | $123,170 |
| New Jersey | $174,730 |
| New Mexico | $119,050 |
| New York | $161,950 |
| North Carolina | $128,400 |
| Ohio | $128,020 |
| Oklahoma | $104,800 |
| Oregon | $108,130 |
| Pennsylvania | $144,320 |
| South Carolina | $102,540 |
| Tennessee | $102,550 |
| Texas | $118,400 |
| Utah | $100,330 |
| Virginia | $148,800 |
| Washington | $143,180 |
| West Virginia | $117,970 |
| Wisconsin | $114,280 |
Tools & Technologies Used by Compensation and Benefits Managers
Below is a list of the types of tools and technologies that Compensation and Benefits Managers may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- SAP
- 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 do I Become a Benefits Manager?
Learn what Compensation and Benefits Manager education requirements there are.
How many years of work experience do I need?
Who Employs Compensation and Benefits Managers?
Compensation and Benefits Managers work in the following industries:
Related Careers
Are you already one of the many Compensation and Benefits Manager in the United States? If you’re thinking about changing careers, these fields are worth exploring:
References:
Image Credit: Arunkumar Umapathy via Creative Commons Attribution-Share Alike 4.0 International
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