Compensation and Benefits Managers

General Information

Description

Plan, direct, or coordinate compensation and benefits activities of an organization.

Workplace at a Glance

What you can expect to experience while on the job

  • Responsibility
  • Exposure to job hazards
  • Physical activity
  • Decision making
  • Repetitiveness
  • Level of competition
  • Time pressure

Job Outlook

Employment of compensation and benefits managers is projected to grow 3 percent from 2019 to 2029, about as fast as the average for all occupations. Organizations continue to focus on reducing compensation and benefits costs, such as by introducing pay-for-performance and health and wellness programs. Organizations will need managers to evaluate and direct these compensation and benefits policies and plans. However, organizations may contract out a portion of their compensation and benefits functions to human resources consulting firms in order to reduce costs and gain access to technical expertise. For example, to reduce administrative costs, organizations commonly use an outside vendor for processing payroll and insurance claims. These consulting firms automate tasks and operate call centers to handle employee questions, thereby reducing the need for compensation and benefits managers.

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Salary

Average Salary

Salary

$122,270

State-by-state Salary

Gray states indicate no data available

$175,250
$81,040
No Information for this section

Education

Most Common Education Levels

People in this career achieve this level of education.

  • Bachelor's degree 80%
  • Master's degree 14%
  • Post baccalaureate 4%
  • High school 0%
  • Some college 0%
  • Doctoral degree 0%
  • Associate's degree 0%
  • Less than high school 0%
  • Post-doctoral training 0%
  • Post-master's certificate 0%
  • First professional degree 0%
  • Post-secondary certificate 0%

Knowledge

  • Personnel and Human Resources
  • Mathematics
  • Administration and Management
  • Customer and Personal Service
  • English Language

Skills at a Glance

Skills helpful in this career

  • Verbal skills
  • Critical thinking & problem solving
  • Equipment operation & maintenance
  • Math & science skills
  • Technology design & control
  • Leadership
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