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The differences between employee benefits managers and compensation consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both an employee benefits manager and a compensation consultant. Additionally, a compensation consultant has an average salary of $90,436, which is higher than the $85,621 average annual salary of an employee benefits manager.
The top three skills for an employee benefits manager include customer service, HR and client relationships. The most important skills for a compensation consultant are human resources, project management, and data analysis.
| Employee Benefits Manager | Compensation Consultant | |
| Yearly salary | $85,621 | $90,436 |
| Hourly rate | $41.16 | $43.48 |
| Growth rate | 2% | 2% |
| Number of jobs | 13,906 | 11,745 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Average age | 46 | 46 |
| Years of experience | 6 | 6 |
An employee benefits manager is responsible for leading the human resources department in establishing the appropriate benefits package and compensation for the employees according to industry regulations and business requirements. Employee benefits managers facilitate the programs and orientations in sharing retirement plans, insurance policies, and other related packages across the organization. They also assist the employee benefits staff in resolving issues and handling disputes from employees' concerns. An employee benefits manager must have excellent communication and leadership skills, as well as extensive knowledge of the human resources practices to build recommendations that would support the employees' needs and welfare.
A compensation consultant is responsible for supporting the human resources department's operations by reviewing the organization's compensation policies and programs, ensuring that the guidelines adhere to state regulations and requirements. Compensation consultants conduct market research analysis to identify salary grades according to job positions and financial stability. They also study benefit plans and facilitate the dissemination of information by organizing orientations and utilizing the company's media platforms. A compensation consultant should have excellent knowledge of the payroll processes to respond to employees' inquiries and concerns and settle salary discrepancies.
Employee benefits managers and compensation consultants have different pay scales, as shown below.
| Employee Benefits Manager | Compensation Consultant | |
| Average salary | $85,621 | $90,436 |
| Salary range | Between $53,000 And $137,000 | Between $65,000 And $124,000 |
| Highest paying City | New York, NY | Berkeley, CA |
| Highest paying state | New Jersey | Washington |
| Best paying company | DLA Piper | Microsoft |
| Best paying industry | Finance | Finance |
There are a few differences between an employee benefits manager and a compensation consultant in terms of educational background:
| Employee Benefits Manager | Compensation Consultant | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between employee benefits managers' and compensation consultants' demographics:
| Employee Benefits Manager | Compensation Consultant | |
| Average age | 46 | 46 |
| Gender ratio | Male, 31.7% Female, 68.3% | Male, 37.1% Female, 62.9% |
| 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% |