Compensation and Benefits Managers in New Jersey
Considering working as a Compensation and Benefits Managers in New Jersey? Here’s what the data says. Plan, direct, or coordinate compensation and benefits activities of an organization. Job analysis and position description managers are included in “Human Resources Managers” (11-3121).
What do Compensation and Benefits Managers Make in New Jersey?
For a compensation and benefits managers working in New Jersey, the median annual wage is $182,660 per year (or about $87.82/hour).
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $120,760 | $58.06 |
| 25th percentile | $146,990 | $70.67 |
| Median (50th) | $182,660 | $87.82 |
| 75th percentile | $220,810 | $106.16 |
| 90th percentile | n/a | n/a |
Location quotient — how concentrated this career is in New Jersey relative to the national average — is 1.47, indicating that compensation and benefits managers are more concentrated here than the national average.
National Wage Comparison
Nationally, compensation and benefits managers earn a median of $107,570 per year ($51.72/hour), exceeding the New Jersey median.
Employment Outlook
National employment for 239,600 compensation and benefits managers in the U.S.. In New Jersey alone, approximately 810 people work in this role. That puts the state above the typical state, which employs around 220 compensation and benefits managers.
Top New Jersey Metros for Compensation and Benefits Managers
These are the New Jersey metros with the most compensation and benefits managers in New Jersey.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Trenton-Princeton, NJ | 50 | $199,680 |
Top States for Compensation and Benefits Managers Employment
The table below shows the states where the most compensation and benefits managers work.
| State | Number Employed |
|---|---|
| California | 2,840 |
| Texas | 1,950 |
| New York | 1,760 |
| Florida | 1,480 |
| Georgia | 870 |
| New Jersey | 810 |
| North Carolina | 750 |
| Pennsylvania | 710 |
| Massachusetts | 670 |
| Illinois | 520 |
| Washington | 510 |
| Tennessee | 480 |
| Virginia | 480 |
| Michigan | 470 |
| Wisconsin | 450 |
| Ohio | 410 |
| Maryland | 370 |
| Connecticut | 330 |
| Minnesota | 310 |
| Missouri | 270 |
Highest-Paying States for Compensation and Benefits Managers
Where compensation and benefits managers earn the most: compensation and benefits managers.
| State | Annual Median Salary |
|---|---|
| Washington | $206,320 |
| Rhode Island | $183,140 |
| New Jersey | $182,660 |
| Massachusetts | $181,910 |
| New York | $176,390 |
| Virginia | $171,300 |
| District of Columbia | $160,800 |
| California | $160,740 |
| Colorado | $159,570 |
| Connecticut | $147,070 |
Skills
The most important compensation and benefits managers skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Important knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
Key abilities for compensation and benefits managers, rated on an importance scale of 0 to 5:
Daily Tasks
Day-to-day, compensation and benefits managers typically:
- 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.
- 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.
- Identify and implement benefits to increase the quality of life for employees by working with brokers and researching benefits issues.
- Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
Work Activities
- Communicating with Supervisors, Peers, or Subordinates
- Establishing and Maintaining Interpersonal Relationships
- Getting Information
- Working with Computers
- Making Decisions and Solving Problems
- Evaluating Information to Determine Compliance with Standards
- Updating and Using Relevant Knowledge
- Communicating with People Outside the Organization
- Developing Objectives and Strategies
- Analyzing Data or Information
- Organizing, Planning, and Prioritizing Work
- Processing Information
Tools & Technology
Software and systems commonly involved: Hot technologies: Adobe Illustrator, Adobe Photoshop, Intuit QuickBooks In-demand technologies: Microsoft Excel
What Major Will Prepare You For This Career?
Related college programs include:
- Business Administration & Management
- Human Resource Management
- Insurance
Featured schools near , edit
Related Careers
Careers similar to compensation and benefits managers include:
- Financial Managers
- Treasurers and Controllers
- Human Resources Managers
- Medical and Health Services Managers
- Social and Community Service Managers
- Compliance Managers
Also Known As
Benefits Admin (Benefits Administrator), Benefits Advisor, Benefits Coordinator, Benefits Director, Benefits Manager, Compensation Director, Compensation Manager, Compensation Program Manager, Compensation and Benefits Director, Compensation and Benefits Manager, Employee Benefits Account Manager, Employee Benefits Coordinator, Employee Benefits Director, Employee Benefits Manager, Global Benefits Manager.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 11-3111.00
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