Life As a Compensation and Benefits Manager
Career Description Plan, direct, or coordinate compensation and benefits activities of an organization.
What Do Compensation and Benefits Managers Do On a Daily Basis?
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
- Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
- Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
- Plan and conduct new-employee orientations to foster positive attitude toward organizational objectives.
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Benefits Manager Needed Skills
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.
Other Benefits Manager Job Titles
- Benefits Manager
- Position Classification Manager
- Personnel Manager
- Reimbursement Manager
- Field Reimbursement Manager
Job Outlook 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. There will be an estimated 1,200 positions for Benefits Manager per 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.
How Much Does a Benefits Manager Make?
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 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 |
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:
- 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?
Are there Compensation and Benefits Managers education requirements?
How Long Does it Take to Become a Benefits Manager?
Where Compensation and Benefits Managers Work
The table below shows some of the most common industries where those employed in this career field work.
Other Jobs You May be Interested In
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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