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The differences between plan administrators and compensation directors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a plan administrator and a compensation director. Additionally, a compensation director has an average salary of $117,485, which is higher than the $68,435 average annual salary of a plan administrator.
The top three skills for a plan administrator include payroll, HR and plan administration. The most important skills for a compensation director are human resources, healthcare, and HRIS.
| Plan Administrator | Compensation Director | |
| Yearly salary | $68,435 | $117,485 |
| Hourly rate | $32.90 | $56.48 |
| Growth rate | 2% | 2% |
| Number of jobs | 51,856 | 18,492 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 74% |
| Average age | 46 | 46 |
| Years of experience | 6 | 6 |
A plan administrator's duties depend on their line of work or place of employment. Still, they typically include understanding the client or the project's needs, developing plans, performing research and analysis, liaising with internal and external parties, setting goals, establishing guidelines and timelines, and developing strategies to optimize procedures. They must also respond to issues and concerns, resolving them efficiently. Moreover, as a plan administrator, it is essential to monitor the daily operations and manage staff, all while implementing the company's policies and regulations.
A compensation director spearheads and oversees an organization or company's compensation programs, ensuring they adhere to state and federal standards. They primarily set objectives and guidelines among their staff, delegate responsibilities, facilitate research and assessments, and develop strategies to optimize compensation operations. They also lead the development of employee benefits, including salary structures, retirement plans, and insurance policies. Additionally, as a director, it is essential to empower staff to reach goals while implementing the company's policies and regulations.
Plan administrators and compensation directors have different pay scales, as shown below.
| Plan Administrator | Compensation Director | |
| Average salary | $68,435 | $117,485 |
| Salary range | Between $45,000 And $103,000 | Between $85,000 And $160,000 |
| Highest paying City | New York, NY | Beaverton, OR |
| Highest paying state | New York | Idaho |
| Best paying company | Apple | Milbank |
| Best paying industry | Manufacturing | Professional |
There are a few differences between a plan administrator and a compensation director in terms of educational background:
| Plan Administrator | Compensation Director | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between plan administrators' and compensation directors' demographics:
| Plan Administrator | Compensation Director | |
| Average age | 46 | 46 |
| Gender ratio | Male, 39.1% Female, 60.9% | Male, 53.8% Female, 46.2% |
| Race ratio | Black or African American, 10.8% Unknown, 3.4% Hispanic or Latino, 9.8% Asian, 8.2% White, 67.3% American Indian and Alaska Native, 0.4% | Black or African American, 11.1% Unknown, 3.4% Hispanic or Latino, 9.9% Asian, 8.3% White, 66.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 35% | 35% |