Become A Benefits Manager
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Working As A Benefits Manager
- Communicating with Supervisors, Peers, or Subordinates
- Getting Information
- Analyzing Data or Information
- Making Decisions and Solving Problems
- Establishing and Maintaining Interpersonal Relationships
Mostly Sitting
Make Decisions
$127,510
Average Salary
What Does A Benefits Manager Do
Compensation managers plan, develop, and oversee programs to determine how much an organization pays its employees and how employees are paid. Benefits managers plan, direct, and coordinate retirement plans, health insurance, and other benefits that an organization offers its employees.
DutiesCompensation and benefits managers typically do the following:
- Set the organization’s pay structure and benefits offerings
- Determine competitive wage rates and develop or modify compensation plans
- Evaluate employee benefits policies to assess whether they are current, competitive, and legal
- Choose and manage outside partners, such as benefits vendors, insurance brokers, and investment managers
- Coordinate and supervise the work activities of specialists and support staff
- Oversee the distribution of pay and benefits information to the organization’s employees
- Ensure that pay and benefits plans comply with federal and state regulations
- Prepare a program budget and keep operations within budget
Although some managers administer both the compensation and benefits programs in an organization, other managers—particularly at large organizations—often specialize and oversee one or the other. All managers, however, routinely meet with senior staff, managers of other human resources departments, and the financial officers of their organization. They provide expertise and make recommendations on compensation and benefits policies, programs, and plans.
In addition to their administrative responsibilities, compensation and benefits managers also have technical and analytical duties. For example, they may perform complex data analysis to determine the best pay and benefits plans for an organization. They may also monitor trends affecting pay and benefits and assess how their organization can improve its practices or policies. Using a variety of analytical, database, and presentation software, managers draw conclusions, present their findings, and make recommendations to other managers in the organization.
Compensation managers are responsible for managing an organization’s pay structure. They monitor market conditions and government regulations to ensure their pay rates are current and competitive. They analyze data on wages and salaries, and they evaluate how their organization’s pay structure compares with that of other companies. Compensation managers use this information to maintain or develop pay scales for an organization.
Some also design pay-for-performance plans, which include guidelines for bonuses and incentive pay. They also may help determine commission rates and other incentives for sales staff.
Benefits managers administer a company’s employee benefits program, which includes retirement plans, leave policies, wellness programs, and insurance policies such as health, life, and disability. They select benefits vendors and manage enrollment, renewal, and delivery of benefits to the organization’s employees. They must frequently monitor government regulations and market trends to ensure that their programs are current, competitive, and legal.
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How To Become A Benefits Manager
Candidates need a combination of education and related work experience to become a compensation and benefits manager.
EducationCompensation and benefits managers need at least a bachelor’s degree for most positions, and some jobs require a master’s degree. Because not all undergraduate programs offer a degree in human resources, managers often have a bachelor’s degree in business administration, business management, finance, or a related field.
Some employers prefer to hire managers who have a master’s degree, particularly one with a concentration in human resources management, finance, or business administration (MBA).
Work Experience in a Related OccupationRelated work experience is essential for compensation and benefits managers. Managers often specialize in either compensation or benefits, depending on the type of experience they gain in previous jobs. For example, compensation and benefits managers often start out as compensation, benefits, and job analysis specialists. Work experience in other human resource fields, finance, or management is also helpful for getting a job as a compensation and benefits manager.
Licenses, Certifications, and RegistrationsAlthough compensation and benefits managers are not legally required to be certified, certification can show expertise and credibility. Many employers prefer to hire certified candidates, and some positions may require certification.
Certification programs for management positions often require several years of related work experience to qualify for the certifying exam. Many professional associations for human resources workers offer certifications. Some associations, including the International Foundation of Employee Benefit Plans and WorldatWork, offer certification programs that specialize in compensation and benefits. Others, including the HR Certification Institute, offer general human resources credentials.
Important QualitiesAnalytical skills. Compensation and benefits managers must analyze data on salaries and the cost of benefits, and assess and devise programs that best fit an organization and its employees.
Business acumen. Compensation and benefits managers must manage a budget, build a case for their recommendations, and understand how compensation and benefits plans affect the company’s finances.
Communication skills. Compensation and benefits managers must direct staff, give presentations, and work with colleagues. For example, they may present the advantages of a certain pay scale to management and address any concerns.
Decisionmaking skills. Compensation and benefits managers must weigh the strengths and weaknesses of different pay structures and benefits plans and choose the best options for an organization.
Leadership skills. Compensation and benefits managers must coordinate the work activities of their staff and properly administer compensation and benefits programs, ensuring work is completed accurately and on schedule.
Writing skills. Compensation and benefits managers must prepare clearly written informational materials on compensation and benefits plans for an organization’s employees. They must also clearly convey recommendations in written reports.
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Benefits Manager jobs
Benefits Manager Career Paths
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Employee Benefits Director 4.7 years
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Benefit Director 4.4 years
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Senior Benefits Specialist 4.4 years
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Employee Benefits Manager 4.2 years
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Benefits Manager 4.0 years
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Human Resources Administration Manager 4.0 years
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Employee Benefits Specialist 3.8 years
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Compensation And Benefits Manager 3.8 years
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Employee Benefits Supervisor 3.8 years
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Benefits & Payroll Administrator 3.8 years
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Employee Benefits Coordinator 3.6 years
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Payroll And Benefits Specialist 3.5 years
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Benefits Analyst 3.3 years
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Compensation/Benefits Specialist 3.0 years
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Benefit Specialist 2.9 years
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Benefits Consultant 2.7 years
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Benefits Clerk 2.7 years
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Compensation And Benefits Analyst 2.7 years
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Benefits Assistant 2.5 years
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Benefits Representative 2.3 years
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Benefits Counselor 2.2 years
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Benefit Specialist 15.6%
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Human Resources Manager 10.8%
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Benefits Analyst 6.2%
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Payroll Manager 3.2%
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Office Manager 3.0%
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Account Manager 2.9%
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Manager 2.6%
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Benefits Consultant 2.4%
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Consultant 2.0%
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Supervisor 1.7%
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Human Resources Manager 17.9%
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Benefit Specialist 7.4%
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Benefit Director 5.2%
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Payroll Manager 4.9%
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Benefits Analyst 3.6%
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Benefits Consultant 3.5%
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Consultant 3.0%
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Director 2.9%
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Manager 2.8%
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Office Manager 2.6%
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Senior Manager 2.5%
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Project Manager 2.2%
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Average Length of Employment
Top Careers Before Benefits Manager
Top Careers After Benefits Manager
Benefits Manager Demographics
Gender
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Female
74.0% -
Male
24.7% -
Unknown
1.3%
Ethnicity
-
White
81.2% -
Hispanic or Latino
10.1% -
Asian
6.7% -
Unknown
1.5% -
Black or African American
0.5%
Languages Spoken
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Spanish
60.5% -
French
5.3% -
German
3.9% -
Carrier
3.9% -
Italian
3.9% -
Gujarati
2.6% -
Hindi
2.6% -
Cantonese
2.6% -
Russian
1.3% -
Portuguese
1.3% -
Welsh
1.3% -
Chinese
1.3% -
Vietnamese
1.3% -
Dakota
1.3% -
Japanese
1.3% -
Tagalog
1.3% -
Urdu
1.3% -
Polish
1.3% -
Korean
1.3%
Benefits Manager
Unfortunately we don’t have enough data for this section.
Benefits Manager Education
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University of Phoenix
19.9% -
Villanova University
8.3% -
Michigan State University
5.6% -
Arizona State University
5.6% -
Pennsylvania State University
5.6% -
Strayer University
5.1% -
Temple University
5.1% -
New York University
3.7% -
Pace University - New York
3.7% -
University of Iowa
3.7% -
Cornell University
3.7% -
University of Houston
3.7% -
Capella University
3.7% -
Syracuse University
3.2% -
Ashford University
3.2% -
West Virginia University
3.2% -
Portland State University
3.2% -
University of Louisville
3.2% -
University of Georgia
3.2% -
Northern Illinois University
3.2% -
Business 35.4%
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Accounting 7.9%
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Management 5.2%
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Psychology 4.3%
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Finance 4.2%
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Communication 2.8%
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Education 2.0%
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Liberal Arts 2.0%
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Marketing 1.8%
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Sociology 1.6%
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Economics 1.6%
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Law 1.5%
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Political Science 1.4%
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English 1.3%
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Pharmacy 1.2%
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Computer Science 1.1%
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Nursing 1.1%
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Bachelors
43.5% -
Masters
24.0% -
Other
15.8% -
Associate
8.0% -
Certificate
5.8% -
Doctorate
1.5% -
Diploma
1.0% -
License
0.5%
Schools
Majors
Degrees
Benefits Manager
Unfortunately we don’t have enough data for this section.
Real Benefits Manager Salaries
Job Title
|
Company
|
Location
|
Start Date
|
Salary
|
|---|---|---|---|---|
| International Benefits Manager | Jacobs Engineering Group, Inc. | Pasadena, CA | Aug 14, 2015 | $139,173 |
| Manager Performance and Benefits | IBM India Private Limited | Atlanta, GA | Jul 23, 2013 | $68,708 - $78,048 |
| Benefits Manager | Crestline Hotels & Resorts | Fairfax, VA | Sep 17, 2012 | $66,000 |
| Financial Analyst/Benefit Manager | Software Catalysts LLC | Herndon, VA | Nov 12, 2013 | $60,000 |
| Benefits Manager | Mobis Parts America, LLC | Miami, FL | Sep 03, 2008 | $56,871 |
| Corporate Benefits Manager | Paulstra CRC Corporation | Grand Rapids, MI | Sep 27, 2013 | $54,600 |
| Financial Analyst/Benefits Manager | Software Catalysts LLC | Herndon, VA | Nov 12, 2010 | $54,000 |
| Benefits Manager(Functional Operations Manager) | Citigroup Payco III (DBA Citistreet) | Jacksonville, FL | Mar 27, 2008 | $51,854 - $61,000 |
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Top Skills for A Benefits Manager
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Top Benefits Manager Skills
- Payroll System
- Benefit Programs
- Long-Term Disability
- Entered benefit deductions in payroll system/ADP Payforce System.
- Developed, recommended, and implemented cost effective benefit programs.
- Investigated claims associated with long-term disability benefits.
- Managed all department responsibilities associated with annual Open Enrollment for Health and Welfare Benefits.
- Assumed responsibility of overseeing benefit plans administration and monthly reconciliation.
Top Benefits Manager Employers
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