Compensation and benefits managers
SOC Code: 11-3111Also known as:
Benefits Admin (Benefits Administrator), Benefits Advisor, Benefits Coordinator, Benefits Director, Benefits Manager
Median Annual Salary
$140,360
+0.2% growth (2024-2034)
2K
Openings/Year
21K
Current Jobs
What Compensation and benefits managers Do
Plan, direct, or coordinate compensation and benefits activities of an organization.
💰 Salary
$140,360
Median annual wage (2024)
📈 Job Growth
+0.2%
Little or no change
🎓 Education
Bachelor's degree
Typical entry-level requirement
🚀 Annual Openings
2K
Projected average per year
👔 Work Experience
5 years or more
Required before entry
Employment Projections (2024-2034)
Current Employment (2024)
20,900
Projected Employment (2034)
20,900
Related Careers
Financial managers
$161,700 •
+14.8% growth
Human resources managers
$140,030 •
+5.0% growth
Human resources specialists
$72,910 •
+6.2% growth
Labor relations specialists
$93,500 •
-0.1% growth
Compensation, benefits, and job analysis specialists
$77,020 •
+5.3% growth
Top Skills Required
Reading Comprehension
Active Listening
Writing
Speaking
Critical Thinking
Daily Tasks & Responsibilities
- Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
- Design, evaluate, and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
- Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
- Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
- Identify and implement benefits to increase the quality of life for employees by working with brokers and researching benefits issues.
- Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
- Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
- Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
- Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
- Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.
Technology & Tools
📚 Entry-Level Education
Bachelor's degree
Most common requirement
🎯 Recommended Education
Bachelor's Degree
O*NET recommended level
Degree Programs for Compensation and benefits managers
These degree programs can prepare you for a career as a compensation and benefits managers:
Business Administration and Management, General
336,590 degrees awarded •
2,332 colleges offer this program
Human Resources Management/Personnel Administration, General
17,602 degrees awarded •
531 colleges offer this program
Organizational Behavior Studies
3,447 degrees awarded •
112 colleges offer this program
Insurance
2,147 degrees awarded •
75 colleges offer this program
Labor and Industrial Relations
1,540 degrees awarded •
26 colleges offer this program
Best Colleges for Becoming a Compensation and benefits managers
Ranked by Repit grade, then by degrees in related programs. These are the top-rated colleges that prepare students to become compensation and benefits managers.
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Frequently Asked Questions
How much do compensation and benefits managers make?
The median annual salary for compensation and benefits managers is $140,360.
What education do compensation and benefits managers need?
Most compensation and benefits managers positions require a bachelor's degree.
Common degree programs include Business Administration and Management, General, Human Resources Management/Personnel Administration, General, Organizational Behavior Studies.
Is becoming compensation and benefits managers a good career choice?
Compensation and benefits managers is projected to see +0.2% job growth from 2024 to 2034,
which is about average for all occupations. With approximately 1,500 job openings expected annually,
there are good opportunities for those entering the field.
What are the best colleges for compensation and benefits managers?
Top colleges for aspiring compensation and benefits managers include
University of Michigan-Ann Arbor, Boston University, University of Florida, Cornell University, University of Georgia.
These schools are ranked based on their Repit grade and the number of graduates in related programs.
What other job titles are similar to compensation and benefits managers?
Compensation and benefits managers may also be known as: Benefits Admin (Benefits Administrator), Benefits Advisor, Benefits Coordinator, Benefits Director, Benefits Manager, Compensation and Benefits Director, Compensation and Benefits Manager, Compensation Director, Compensation Manager, Compensation Program Manager, Employee Benefits Account Manager, Employee Benefits Coordinator, Employee Benefits Director, Employee Benefits Manager, Global Compensation Director, Global Compensation Manager, Payroll and Benefits Manager, Payroll Manager, Personnel Manager, Position Classification Manager.
These titles often refer to similar roles with varying responsibilities or specializations.