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The differences between plan administrators 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 plan administrator and a compensation manager. Additionally, a compensation manager has an average salary of $100,119, 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 manager are human resources, HRIS, and compensation policies.
| Plan Administrator | Compensation Manager | |
| Yearly salary | $68,435 | $100,119 |
| Hourly rate | $32.90 | $48.13 |
| Growth rate | 2% | 2% |
| Number of jobs | 51,856 | 7,941 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| 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 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.
Plan administrators and compensation managers have different pay scales, as shown below.
| Plan Administrator | Compensation Manager | |
| Average salary | $68,435 | $100,119 |
| Salary range | Between $45,000 And $103,000 | Between $71,000 And $139,000 |
| Highest paying City | New York, NY | Sacramento, CA |
| Highest paying state | New York | Massachusetts |
| Best paying company | Apple | DLA Piper |
| Best paying industry | Manufacturing | Technology |
There are a few differences between a plan administrator and a compensation manager in terms of educational background:
| Plan Administrator | Compensation Manager | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between plan administrators' and compensation managers' demographics:
| Plan Administrator | Compensation Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 39.1% Female, 60.9% | Male, 43.1% Female, 56.9% |
| 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, 11.2% 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% |