What Do Compensation and Benefits Manager Do?
Occupation Description Plan, direct, or coordinate compensation and benefits activities of an organization.
Life As a Benefits Manager: What Do They Do?
- Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
- Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Prepare personnel forecasts to project employment needs.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Plan and conduct new-employee orientations to foster positive attitude toward organizational objectives.
Benefits Manager Required Skills
Compensation and Benefits Managers state the following job skills are important in their day-to-day work.
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
- Job Analysis Manager
- Personnel Manager
- Benefit Director
- Benefits Coordinator
- Compensation Vice President
Is There Job Demand for Compensation and Benefits Managers?
In the United States, there were 15,800 jobs for Compensation and Benefits Manager in 2016. 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.
What is the Average Salary of a Benefits Manager
The typical yearly salary for Compensation and Benefits Managers is somewhere 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|
|District of Columbia||$136,050|
What Tools & Technology do Compensation and Benefits Managers Use?
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
- 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
How to Become a Benefits Manager
Education needed to be a Compensation and Benefits Manager:
What work experience do I need to become a Benefits Manager?
Compensation and Benefits Managers Sector
The table below shows the approximate number of Compensation and Benefits Managers employed by various industries.
Other Jobs You May be Interested In
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:
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