All About Compensation and Benefits Managers
Benefits Manager Example Plan, direct, or coordinate compensation and benefits activities of an organization.
A Day in the Life of a Benefits Manager
- 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.
- Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Prepare personnel forecasts to project employment needs.
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Benefits Manager Skills
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.
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 Benefits Manager Jobs
- Personnel Manager
- Compensation and Benefits Manager
- Payroll Manager
- Reimbursement Manager
- Field Reimbursement Manager
Is There Going to be Demand for Compensation and Benefits Managers?
There were about 15,800 jobs for Compensation and Benefits Manager in 2016 (in the United States). 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.
Benefits Manager Salary
The average yearly salary of a Benefits Manager ranges between $70,560 and $205,470.
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 |
|---|---|
| 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 SharePoint
- Microsoft Visio
- 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
Becoming a Benefits Manager
Individuals working as a Compensation and Benefits Manager have obtained the following education levels:
What work experience do I need to become a Benefits Manager?
Where Compensation and Benefits Managers Work
Compensation and Benefits Managers work in the following industries:
Similar Careers
Career changers with experience as a Compensation and Benefits Manager sometimes find work in one of the following fields:
References:
Image Credit: Arunkumar Umapathy via Creative Commons Attribution-Share Alike 4.0 International
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