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The differences between benefit specialists and benefits consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefit specialist and a benefits consultant. Additionally, a benefits consultant has an average salary of $79,068, which is higher than the $48,756 average annual salary of a benefit specialist.
The top three skills for a benefit specialist include customer service, HR and patients. The most important skills for a benefits consultant are HR, customer service, and life insurance.
| Benefit Specialist | Benefits Consultant | |
| Yearly salary | $48,756 | $79,068 |
| Hourly rate | $23.44 | $38.01 |
| Growth rate | 7% | 2% |
| Number of jobs | 31,663 | 19,308 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 71% |
| Average age | 45 | 46 |
| Years of experience | 6 | 6 |
A benefits specialist is responsible for analyzing and processing the compensation package of an organization, ensuring that the salary and benefits received by an employee adhere to the current legislation procedures. Benefits specialists develop benefits programs, adjusting pension plans and insurance options as needed, and updating the employees on recent updates and changes. A benefits specialist responds to employees' inquiries, addresses their concerns, and manages benefits issues. A benefits specialist must have a clear understanding of benefits policies and processes to educate employees about the benefits structure.
Benefits consultants are executives who carry out many services for individuals and businesses. The consultants draft and organize policies within the organization. They handle vendors and manage the renewal of negotiations of HMO plans. It is their job to establish agency relationships with marketing representatives. They coordinate programs that involve self-funded or administered long-term and short-term disability, life insurance, and a cafeteria plan. Also, they prepare enterprises to meet health care law changes.
Benefit specialists and benefits consultants have different pay scales, as shown below.
| Benefit Specialist | Benefits Consultant | |
| Average salary | $48,756 | $79,068 |
| Salary range | Between $34,000 And $68,000 | Between $51,000 And $121,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Qorvo | BMO Capital Markets |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a benefit specialist and a benefits consultant in terms of educational background:
| Benefit Specialist | Benefits Consultant | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between benefit specialists' and benefits consultants' demographics:
| Benefit Specialist | Benefits Consultant | |
| Average age | 45 | 46 |
| Gender ratio | Male, 21.1% Female, 78.9% | Male, 46.7% Female, 53.3% |
| Race ratio | Black or African American, 11.0% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.5% White, 62.2% American Indian and Alaska Native, 0.3% | Black or African American, 11.2% Unknown, 3.4% Hispanic or Latino, 10.0% Asian, 8.0% White, 66.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 35% |