Where do you want to work?
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.Duties
Compensation and benefits managers typically do the following:
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.
Candidates need a combination of education and related work experience to become a compensation and benefits manager.Education
Compensation 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 Occupation
Related 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 Registrations
Although 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 Qualities
Analytical 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.
Average Length of Employment
Top Careers Before Compensation And Benefits Manager
Top Careers After Compensation And Benefits Manager
Hispanic or Latino9.8%
Black or African American1.1%
Compensation And Benefits Manager
Unfortunately we don’t have enough data for this section.
University of Phoenix11.5%
Fairleigh Dickinson University6.6%
University of Pennsylvania4.9%
Central Michigan University4.9%
Rochester Institute of Technology4.9%
University of Southern California4.9%
Glendale Community College4.9%
University of Connecticut3.3%
University of St. Thomas (Minnesota)3.3%
Compensation And Benefits Manager
Unfortunately we don’t have enough data for this section.
|Job Title||Company||Location||Start Date||Salary|
|Employee Benefits & Executive Compensation Associa||Alston & Bird LLP||Washington, DC||Jan 30, 2012||$160,000|
|Compensation and Benefits Managers||Microsoft Corporation||Redmond, WA||Jun 11, 2012||$150,000 -
|Compensation and Benefits Managers||D. E. Shaw Staff, LLC||New York, NY||Mar 04, 2014||$150,000|
|Compensation and Benefits Managers||Goldman Sachs New Jersey LLC||Jersey City, NJ||Sep 13, 2011||$150,000 -
|Compensation and Benefits Managers||Cadbury Adams USA, LLC||Parsippany-Troy Hills, NJ||May 21, 2010||$143,895 -
|Manager, Compensation and Benefits||Hewlett-Packard Company||San Diego, CA||Jun 17, 2015||$143,707 -
|Compensation and Benefits Manager||JP Morgan Chase & Co||New York, NY||Aug 27, 2010||$140,000|
|Compensation and Benefits Managers||Dover Corporation||Downers Grove, IL||Apr 22, 2014||$140,000|
|Compensation and Benefits Managers||Robin Hood Foundation||New York, NY||Jul 12, 2011||$138,000 -
|Compensation and Benefit Managers||Geodis Wilson USA, Inc.||Iselin, NJ||May 24, 2011||$137,592|
|Manager, Merger and ACQ. Compensations and Benefit||EBAY Inc.||San Jose, CA||Oct 01, 2012||$135,000|
|Associate Compensation and Benefits Manager||Google Inc.||Mountain View, CA||Aug 18, 2015||$135,000|
|Compensation and Benefits Managers||Arthur J. Gallagher & Co. D/B/A Gallagher Benefit Services, Inc.||FL||May 16, 2013||$131,726|
|Compensation and Benefits Managers||Allianz Asset Management of America LP||Newport Beach, CA||Mar 28, 2014||$131,331|
|Compensation & Benefits Manager||Caterpillar Inc.||Miami, FL||Aug 23, 2012||$114,084|
|Compensation and Benefits Managers||Attic Technologies Inc.||Middlesex, NJ||Jan 21, 2009||$111,216|
|Compensation and Benefits Manager||Diverse Lynx, LLC||Metuchen, NJ||Feb 03, 2010||$110,843|
|Compensation and Benefits Managers||Xerox Business Services, LLC||Chicago, IL||Jul 19, 2012||$110,000 -
|Compensation and Benefits Managers||Deloitte Consulting LLP||Chicago, IL||Mar 19, 2014||$110,000 -
|Compensation and Benefits Managers||Monsanto Company||Saint Louis, MO||Jan 07, 2010||$107,994|
|Compensation and Benefits Managers||Barasch & Mc Garry Salzman & Pension||New York, NY||Feb 05, 2014||$106,496|
|Compensation & Benefits Manager||Avaya Inc.||Santa Clara, CA||Apr 15, 2016||$105,000|
|Compensation and Benefits Manager||Banco ITAÚ Europa International||Miami, FL||Jun 28, 2011||$93,710|
|Compensation and Benefits Managers||Oliver Wyman, Inc.||New York, NY||Apr 09, 2010||$93,288 -
|Compensation and Benefits Managers||Asap America LLC||The Villages, FL||Jan 20, 2011||$92,019|
|Compensation and Benefits Managers||Comprehensive Health Management Inc.||Tampa, FL||Mar 08, 2013||$91,021|
|Latin America Compensation & Benefits Senior Consu||Owens Corning||Toledo, OH||Aug 12, 2013||$90,000|
|Compensation and Benefits Manager||Softnice Inc.||Allentown, PA||Jan 31, 2012||$88,100 -
|Compensation and Benefits Managers||Aegis Communications Group, Inc.||Irving, TX||Aug 15, 2013||$87,194|
|Compensation and Benefits Managers||Terex Corporation||Westport, CT||Aug 22, 2012||$86,700 -
To get more results, try adjusting your search by changing your filters.