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The differences between benefits managers and compensation managers 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 manager and a compensation manager. Additionally, a compensation manager has an average salary of $100,119, which is higher than the $64,064 average annual salary of a benefits manager.
The top three skills for a benefits manager include HR, customer service and HRIS. The most important skills for a compensation manager are human resources, HRIS, and compensation policies.
| Benefits Manager | Compensation Manager | |
| Yearly salary | $64,064 | $100,119 |
| Hourly rate | $30.80 | $48.13 |
| Growth rate | 2% | 2% |
| Number of jobs | 11,164 | 7,941 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| Average age | 46 | 46 |
| Years of experience | 6 | 6 |
A benefits manager is primarily in charge of overseeing and handling a company's benefits programs and projects for employees. Their responsibilities revolve around coordinating with human resources to gather accurate data, improve existing benefits programs, and creating new ones in adherence to the company's policies and regulations. A benefits manager may also liaise with external agencies, develop activities for employee welfare, and resolve any issues regarding the benefits programs. Furthermore, they may perform clerical tasks such as producing progress reports and presentations, manage budgets, and maintain records of all transactions.
A compensation manager is primarily responsible for developing and establishing a company's payment scale and system, ensuring all employees are well-compensated while putting the company's welfare into consideration. Moreover, a compensation manager must ensure to distribute benefits and pay rate in adherence to the laws and regulations, identify the wage rate of competitor companies, monitor the budget, and oversee the payroll and payment processes, ensuring accuracy and timeliness. Furthermore, as a manager, it is essential to lead the team, all while implementing the company's policies and regulations.
Benefits managers and compensation managers have different pay scales, as shown below.
| Benefits Manager | Compensation Manager | |
| Average salary | $64,064 | $100,119 |
| Salary range | Between $39,000 And $104,000 | Between $71,000 And $139,000 |
| Highest paying City | Philadelphia, PA | Sacramento, CA |
| Highest paying state | Pennsylvania | Massachusetts |
| Best paying company | Microsoft | DLA Piper |
| Best paying industry | Technology | Technology |
There are a few differences between a benefits manager and a compensation manager in terms of educational background:
| Benefits Manager | Compensation Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between benefits managers' and compensation managers' demographics:
| Benefits Manager | Compensation Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 24.3% Female, 75.7% | Male, 43.1% Female, 56.9% |
| Race ratio | Black or African American, 10.9% Unknown, 3.4% Hispanic or Latino, 9.8% Asian, 8.2% White, 67.2% American Indian and Alaska Native, 0.4% | Black or African American, 11.2% Unknown, 3.4% Hispanic or Latino, 10.0% Asian, 8.4% White, 66.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 35% | 35% |