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Benefits analyst hiring summary. Here are some key points about hiring benefits analysts in the United States:
Here's a step-by-step benefits analyst hiring guide:
A Benefits Analyst is responsible for administering and communicating benefit programs for an organization. They attract and retain employees through researching, recommending, and explaining benefit programs.
First, determine the employments status of the benefits analyst you need to hire. Certain benefits analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them a benefits analyst to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a benefits analyst that fits the bill.
The following list breaks down different types of benefits analysts and their corresponding salaries.
Type Of Benefits Analyst | Description | Hourly Rate |
---|---|---|
Benefits Analyst | Compensation, benefits, and job analysis specialists conduct an organization’s compensation and benefits programs. They also evaluate position descriptions to determine details such as a person’s classification and salary. | $17-33 |
Workers Compensation Coordinator | Workers compensation coordinators work with supervisors to identify incident causes and the best corrective actions. They train coordinators and supervisors on reporting and managing workers' compensation claims... Show More | $19-43 |
Plan Administrator | A plan administrator's duties depend on their line of work or place of employment. Still, they typically include understanding the client or the project's needs, developing plans, performing research and analysis, liaising with internal and external parties, setting goals, establishing guidelines and timelines, and developing strategies to optimize procedures... Show More | $21-49 |
Including a salary range in the benefits analyst job description is a good way to get more applicants. A benefits analyst salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a benefits analyst in New Mexico may be lower than in New Jersey, and an entry-level engineer typically earns less than a senior-level benefits analyst. Additionally, a benefits analyst with lots of experience in the field may command a higher salary as a result.
Rank | State | Avg. Salary | Hourly Rate |
---|---|---|---|
1 | New York | $69,381 | $33 |
2 | California | $66,779 | $32 |
3 | Washington | $65,977 | $32 |
4 | District of Columbia | $64,390 | $31 |
5 | Virginia | $59,912 | $29 |
6 | Massachusetts | $59,151 | $28 |
7 | Connecticut | $58,117 | $28 |
8 | Illinois | $55,483 | $27 |
9 | Wisconsin | $54,152 | $26 |
10 | Oregon | $53,701 | $26 |
11 | Nebraska | $53,311 | $26 |
12 | Minnesota | $52,634 | $25 |
13 | Pennsylvania | $52,478 | $25 |
14 | Colorado | $52,129 | $25 |
15 | Georgia | $50,980 | $25 |
16 | Michigan | $49,646 | $24 |
17 | Maine | $48,058 | $23 |
18 | Ohio | $48,051 | $23 |
19 | Missouri | $47,691 | $23 |
20 | Iowa | $47,339 | $23 |
Rank | Company | Average Salary | Hourly Rate | Job Openings |
---|---|---|---|---|
1 | Amd | $92,314 | $44.38 | |
2 | Yahoo | $90,302 | $43.41 | |
3 | $86,890 | $41.77 | ||
4 | ORIX USA | $84,324 | $40.54 | 3 |
5 | Watson Wyatt | $79,685 | $38.31 | |
6 | Sempra Energy | $77,020 | $37.03 | |
7 | Nomura Securities | $76,378 | $36.72 | 2 |
8 | FTI Consulting | $75,815 | $36.45 | |
9 | Ropes & Gray | $74,076 | $35.61 | |
10 | Activision Blizzard | $73,870 | $35.51 | |
11 | Tech Mahindra | $73,705 | $35.44 | |
12 | BNY Mellon | $73,352 | $35.27 | 1 |
13 | Airtable | $72,897 | $35.05 | |
14 | Fifth Third Bank | $72,753 | $34.98 | 7 |
15 | Simpson Thacher & Bartlett | $71,105 | $34.19 | 3 |
16 | Unity Technologies | $71,099 | $34.18 | |
17 | Syngenta | $70,793 | $34.04 | |
18 | Wipro Limited | $70,561 | $33.92 | |
19 | Sony Electronics | $70,321 | $33.81 | |
20 | Reckitt Benckiser | $69,569 | $33.45 |
A job description for a benefits analyst role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a benefits analyst job description:
To find the right benefits analyst for your business, consider trying out a few different recruiting strategies:
Your first interview with benefits analyst candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect benefits analyst candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new benefits analyst. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
There are different types of costs for hiring benefits analysts. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new benefits analyst employee.
You can expect to pay around $50,944 per year for a benefits analyst, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for benefits analysts in the US typically range between $17 and $33 an hour.