Pension consultant vs benefits analyst

The differences between pension consultants and benefits analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a pension consultant and a benefits analyst. Additionally, a pension consultant has an average salary of $74,793, which is higher than the $50,944 average annual salary of a benefits analyst.

The top three skills for a pension consultant include calculation, plan administration and ERISA. The most important skills for a benefits analyst are customer service, HR, and HRIS.

Pension consultant vs benefits analyst overview

	Pension Consultant	Benefits Analyst
Yearly salary	$74,793	$50,944
Hourly rate	$35.96	$24.49
Growth rate	7%	7%
Number of jobs	6,583	20,211
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 83%	Bachelor's Degree, 70%
Average age	45	45
Years of experience	6	6

Pension consultant vs benefits analyst salary

Pension consultants and benefits analysts have different pay scales, as shown below.

	Pension Consultant	Benefits Analyst
Average salary	$74,793	$50,944
Salary range	Between $52,000 And $106,000	Between $36,000 And $70,000
Highest paying City	-	New York, NY
Highest paying state	-	New Jersey
Best paying company	-	Amd
Best paying industry	-	Professional

Differences between pension consultant and benefits analyst education

There are a few differences between a pension consultant and a benefits analyst in terms of educational background:

	Pension Consultant	Benefits Analyst
Most common degree	Bachelor's Degree, 83%	Bachelor's Degree, 70%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Pension consultant vs benefits analyst demographics

Here are the differences between pension consultants' and benefits analysts' demographics:

	Pension Consultant	Benefits Analyst
Average age	45	45
Gender ratio	Male, 51.7% Female, 48.3%	Male, 27.8% Female, 72.2%
Race ratio	Black or African American, 10.5% Unknown, 3.7% Hispanic or Latino, 15.4% Asian, 7.9% White, 62.1% American Indian and Alaska Native, 0.4%	Black or African American, 11.1% Unknown, 3.6% Hispanic or Latino, 15.2% Asian, 7.8% White, 61.8% American Indian and Alaska Native, 0.3%
LGBT Percentage	9%	9%

Differences between pension consultant and benefits analyst duties and responsibilities

Pension consultant example responsibilities.

Recruit to manage key client engagements to define global strategic sourcing projects and solutions to utilize technology and advance ERP systems.
Research and compile documents to assist senior legal counsel specific to ERISA litigation.
Fast learner, note for quickly developing strong knowledge of IRS rules for insurance industry.
Leverage sales skills to identify customer needs and create new opportunities to transfer assets to TIAA-CREF.
Pioneer the Spanish initiative, in taking the first calls in Spanish for TIAA-CREF along with a small team.
Review court orders and relate legal documents to ensure compliance with applicable IRC provisions, ERISA, and qualify plan requirements.

Benefits analyst example responsibilities.

Manage relationships with all FSA clients including supporting their employee inquiries, reporting, and explain policy and procedure.
Manage regulatory compliance with federal and state leave laws such as FMLA, ADA, CFRA, PDL and FEHA.
Create reports using SQL database and manage reports, perform from internet-base tools for research projects need for client insight.
Develop data analysis procedures to comply with ACA regulations.
Screen clients for Medicaid and other health insurance eligibility.
Provide functional expertise and leadership of retiree benefits administration during the RFP selection process for outsourcing retirement administration.

Pension consultant vs benefits analyst skills

Common pension consultant skills

Calculation, 19%
Plan Administration, 14%
ERISA, 13%
Government Filings, 12%
Plan Provisions, 11%
Plan Design, 10%

Common benefits analyst skills

Customer Service, 10%
HR, 8%
HRIS, 6%
Payroll, 6%
PowerPoint, 5%
RFP, 4%