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how much does a benefits manager make

by Trevion Murphy Published 2 years ago Updated 1 year ago
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What is the average salary for a manager?

The average General Manager salary in the United States is $179,326 as of October 29, 2021. The range for our most popular General Manager positions (listed below) typically falls between $28,807 and $329,845. Keep in mind that salary ranges can vary widely depending on many important factors, including position, education, certifications, additional skills, and the number of years you have spent in your profession.

What does benefits manager do?

  • Proficient in HR systems
  • Extensive knowledge of compensation and benefits packages, policies, and legislations
  • Experienced in MS Office
  • Excellent conflict resolution skills
  • Strong communication, interpersonal, and management skills

What does employee benefits manager do?

What are the four major types of employee benefits?

  • Insurance. This category includes health insurance (dental, medical, vision), life insurance, and disability insurance.
  • Retirement. Retirement benefits help employees feel more secure about their future after retirement. ...
  • Time off. ...
  • Additional compensation. ...

Is management hourly or salary?

The average hourly wage for a Project Management Manager in the United States is $63 as of September 27, 2021, but the range typically falls between $56 and $71. Hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

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What does a benefits manager do?

Benefits managers administer an organization's employee benefits program, which may include retirement plans, leave policies, wellness programs, and insurance policies such as health, life, and disability.

What skills do you need to be a benefits manager?

Learning how to become a compensation and benefits manager means developing essential skills, including:Leadership.Analytical and critical thinking.Technical knowledge.Business acumen.Communication.Data analysis.Decision-making.Knowledge of legal policies.

How do I become a HR benefits manager?

If you want to be a compensation and benefits manager, you'll generally need a bachelor's or master's degree in business or HR and several years of experience in Human Resources. You will also need a strong background in finance and statistical analysis.

What does a payroll and benefits manager do?

As a payroll and benefits manager, you manage the entire payroll process within your organization. Your responsibilities include conveying benefit information to employees and update them on any changes with their benefits.

How do you become a benefits director?

To work as a compensation and benefits manager or specialist requires having at least a bachelor's degree. The degree may be in human resources, business management, business administration or finance. The degree may also have a specialization or concentration in compensation and benefits.

What makes good benefits coordinator?

A good Benefits Coordinator has a kind and friendly nature that enables them to communicate with employees and helps employees feel comfortable enough to ask questions. They also have excellent written and verbal communication that allows them to teach employees about their benefit options and how to enroll.

Is compensation a good career?

The federal agency expects the number of compensation managers to grow by 4% between 2020 and 2030. “Good talent is needed in this area, and you're going to become a vital partner and understand all parts of HR, including recruiting, retaining, and pay,” Dinkin said. “It's a very good path if you want to be in HR.”

Is being a compensation manager hard?

Compensation managers have a tough job. Making decisions about how much to compensate employees for their efforts often involves 'dancing' between profitability and fairness.

What's the future outlook for compensation?

Job Outlook for: Compensation, Benefits, and Job Analysis SpecialistsCompensation, Benefits, and Job Analysis Specialists Quick StatsTotal Jobs in 201684,200Expected Growth9% (As fast as average)New Jobs To Be Added from 2016 to 20267,200Median Pay$55,000 to $74,999

Who does payroll HR or accounting?

But despite who's in charge of payroll, HR generally enters employee data into the payroll system, and accounting calculates the dollars associated with taxes, wages and benefits.

How do you become a Total Rewards manager?

Required Minimum Qualifications • Bachelor's degree from an accredited institution. Four years of progressive and combined experience managing self-funded benefits programs. Two years' experience managing large (over $1 million) budgets and vendor contracts. Two years' experience in a supervisory role.

What does HR compensation do?

Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.

How much does a Benefits Manager in United States make?

The national average salary for a Benefits Manager is $82,387 per year in United States. Filter by location to see a Benefits Manager salaries in y...

What is the highest salary for a Benefits Manager in United States?

The highest salary for a Benefits Manager in United States is $122,291 per year.

What is the lowest salary for a Benefits Manager in United States?

The lowest salary for a Benefits Manager in United States is $55,504 per year.

What is the a Benefits Manager career path and salary trajectory?

If you are thinking of becoming a Benefits Manager or planning the next step in your career, find details about the role, the career path and salar...

How much does a Benefits Manager make?

The average annual pay for a Benefits Manager in Chicago is $82,337 an year. Just in case you need a simple salary calculator, that works out to be...

What are Top 10 Highest Paying Cities for Benefits Manager Jobs?

Richmond, CA($100,746)Stamford, CT($98,101)Bellevue, WA($97,880)Lakes, AK($94,447)San Francisco, CA($94,424)Palmdale, CA($93,408)Santa Clara, CA($9...

What are Top 5 Best Paying Related Benefits Manager Jobs in the U.S.?

Benefits Director($108,722)Director Compensation Benefits($107,726)Senior Benefits Manager($104,325)International Benefits Manager($94,567)Employee...

How much does a benefit manager make?

How much does a Benefits Manager make in the United States? The average Benefits Manager salary in the United States is $106,296 as of October 29, 2021, but the range typically falls between $92,966 and $120,570. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

What is benefits manager?

Benefits Manager develops, implements, administers, and maintains benefits programs, policies, and procedures. Ensures programs meet employee needs, comply with legal requirements, and are cost effective. Being a Benefits Manager develops benefits communications and counsels employees on benefits related issues. Evaluates existing benefits programs against peer organizations to determine competitiveness, trends and developments. Additionally, Benefits Manager requires a bachelor's degree. Typically reports to a Director. The Benefits Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Extensive knowledge of department processes. To be a Benefits Manager typically requires 5 years experience in the related area as an individual contributor. 1 to 3 years supervisory experience may be required. (Copyright 2021 Salary.com)... View full job description

How much does a Benefits Manager make?

The average Benefits Manager salary is $59,420 per year, or $28.57 per hour, in the United States. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $37,000 a year, while the top 10% makes $94,000. As most things go, location can be critical. Idaho, New Jersey, Rhode Island, Delaware, and Wisconsin provide the highest Benefits Manager salaries.

How Much Do Benefits Managers Make In Different Industries?

Furthermore, a Benefits Manager can make a yearly salary of $73,004 while working for Transportation companies. All the while, other Benefits Managers are making $72,495 at Real Estate companies and $70,144 at Retail companies. One industry Benefits Managers may want to avoid is the Professional industry as it offers the lowest average salary at $58,679.

What is the role of a plan administrator?

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.

How much does a Benefits Manager make?

As of Jan 31, 2022, the average annual pay for a Benefits Manager in the United States is $82,337 a year.

What are Top 10 Highest Paying Cities for Benefits Manager Jobs

We’ve identified 10 cities where the typical salary for a Benefits Manager job is above the national average. Topping the list is Richmond, CA, with Stamford, CT and Bellevue, WA close behind in the second and third positions.

What are Top 5 Best Paying Related Benefits Manager Jobs in the U.S

We found at least five jobs related to the Benefits Manager job category that pay more per year than a typical Benefits Manager salary. Top examples of these roles include: Benefits Director, Senior Benefits Manager, and Compensation Benefit.

Top searched states for Benefits Manager Salaries

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What is compensation and benefits manager?

Being a Compensation and Benefits Manager manages common benefits functions, including life, health, and disability insurance, retirement benefits and paid time off. Ensures that compensation and benefits programs remain competitive and conform to current compensation strategy.

How many years of experience is required to be a compensation and benefits manager?

Has full authority for personnel actions. To be a Compensation and Benefits Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.

How much does a compensation manager make in 2021?

the United States. How much does a Compensation and Benefits Manager make in the United States? The average Compensation and Benefits Manager salary in the United States is $116,962 as of June 28, 2021, but the range typically falls between $100,862 and $132,172.

How much should you be paid?

Skills associated with Compensation and Benefits Manager: Compensation Management Software, HR Regulatory Environment & Compliance, Retire ment Benefits, Compensation & Benefit ... More

What are we looking at?

The Bureau of Labor Statistics (BLS) periodically produces Occupational Employment Statistics – State Occupational Employment and Wage Estimates. The most recent state-by-state reports I’ve found is May 2019. That’s pretty current. Among the data they report are the number of jobs in the state and mean annual wage.

What are the top 10 states with the highest pay?

Some of these states are expected. The pay in others can be a surprise:

What are the top 10 states with the highest number of jobs?

You might associate the presence of many jobs with a highly competitive market:

What about the 10 states with the lowest number of jobs?

Does a scarcity of jobs mean pay is at a premium? Does it mean the jobs don’t pay as well because there’s little demand?

Data for all 50 states

It’s interesting to know what people in a specific industry are earning. It often depends on where you live.

How much does an employee benefits account manager make?

The average salary for a employee benefits account manager is $59,564 per year in the United States.

How much should you be earning?

Get an estimated calculation of how much you should be earning and insight into your career options. See more details

How much does a Payroll and Benefits Manager make?

As of Jan 2, 2022, the average annual pay for a Payroll and Benefits Manager in the United States is $73,298 a year.

What are Top 10 Highest Paying Cities for Payroll and Benefits Manager Jobs

We’ve identified 10 cities where the typical salary for a Payroll and Benefits Manager job is above the national average. Topping the list is Lakes, AK, with San Francisco, CA and Santa Clara, CA close behind in the second and third positions.

What are Top 5 Best Paying Related Payroll and Benefits Manager Jobs in the U.S

We found at least five jobs related to the Payroll and Benefits Manager job category that pay more per year than a typical Payroll and Benefits Manager salary. Top examples of these roles include: Payroll Director, Senior Payroll Manager, and Director Payroll.

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