Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between benefits consultants and compensation directors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefits consultant and a compensation director. Additionally, a compensation director has an average salary of $117,485, which is higher than the $79,068 average annual salary of a benefits consultant.
The top three skills for a benefits consultant include HR, customer service and life insurance. The most important skills for a compensation director are human resources, healthcare, and HRIS.
| Benefits Consultant | Compensation Director | |
| Yearly salary | $79,068 | $117,485 |
| Hourly rate | $38.01 | $56.48 |
| Growth rate | 2% | 2% |
| Number of jobs | 19,308 | 18,492 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Average age | 46 | 46 |
| Years of experience | 6 | 6 |
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.
A compensation director spearheads and oversees an organization or company's compensation programs, ensuring they adhere to state and federal standards. They primarily set objectives and guidelines among their staff, delegate responsibilities, facilitate research and assessments, and develop strategies to optimize compensation operations. They also lead the development of employee benefits, including salary structures, retirement plans, and insurance policies. Additionally, as a director, it is essential to empower staff to reach goals while implementing the company's policies and regulations.
Benefits consultants and compensation directors have different pay scales, as shown below.
| Benefits Consultant | Compensation Director | |
| Average salary | $79,068 | $117,485 |
| Salary range | Between $51,000 And $121,000 | Between $85,000 And $160,000 |
| Highest paying City | New York, NY | Beaverton, OR |
| Highest paying state | New York | Idaho |
| Best paying company | BMO Capital Markets | Milbank |
| Best paying industry | Manufacturing | Professional |
There are a few differences between a benefits consultant and a compensation director in terms of educational background:
| Benefits Consultant | Compensation Director | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between benefits consultants' and compensation directors' demographics:
| Benefits Consultant | Compensation Director | |
| Average age | 46 | 46 |
| Gender ratio | Male, 46.7% Female, 53.3% | Male, 53.8% Female, 46.2% |
| Race ratio | 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% | Black or African American, 11.1% Unknown, 3.4% Hispanic or Latino, 9.9% Asian, 8.3% White, 66.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 35% | 35% |