Compensation and Benefits Managers: Salary, Job Description, How To Be One and More

Stanley TanLeave a Comment



Compensation and Benefits Managers jobs information
pros and cons of being a Compensation and Benefits Manager

Compensation and Benefits Managers

Other names for this job might include Benefit Director, Benefits Administrator, Benefits Coordinator, Benefits Manager, Business Manager, Compensation and Benefits Manager, Compensation Director, Compensation Manager, Controller, Corporate Controller


  • $121630
    Salary
  • 79%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Low
    Job growth
OwlGuru Rank

A



HR Managers: Know It All In 1 Minute


In this career summary, you will find out what the job of A HR Manager is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Compensation and Benefits Managers plan, direct, or coordinate compensation and benefits activities of an organization.

  • Design, evaluate and modify benefits policies to ensure that programs are current, competitive and in compliance with legal requirements.
  • Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
  • Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
  • Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.

Read more about what does A HR Manager really do at work and what is it like being and working as one.


Become one

schools for HR Managers

Interested in becoming A HR Manager? Find the right schools that can help you to become one. This service is free thanks to our sponsors.

Click to start becoming a Compensation and Benefits Manager




Salary

Average salary
$121630 per year

Hourly wage
$58.48 an hour


HR Managers with little to no experience tend to make between $60680 and $82210 while the more experienced ones make over $150600 per year.

Top 5 paying statesHourlyAnnual
NJ$74.18$154300
DE$72.66$151140
NY$72.15$150080
RI$68.94$143390
CO$66.6$138520

1 of the easiest ways to increase your salary as A HR Manager is to move to a higher paying state like NJ. Right now, the highest paying states for HR Managers are NJ, DE, NY, RI and CO.

However a higher pay at NJ doesn’t guarantee that you will make more because the living expenses at NJ might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as A HR Manager is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful HR Managers make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other HR Managers what degree they had when they got the job and most of them said they had a Bachelors degree followed by Post-bachelor certificate.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

Human Resources Management/Personnel Administration, General

Another popular question from our readers is what makes A HR Manager successful or would they be good in this career.

Well, we found that most successful HR Managers have these 5 skillsets.

Reading Comprehension
Active Listening
Speaking
Critical Thinking
Judgment and Decision Making

In addition to that, 1 common characteristic among successful HR Managers is they are good at Integrity. Here are the top 5 common characteristics.

Integrity
Attention to Detail
Analytical Thinking
Cooperation
Initiative
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A HR Manager and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A HR Manager as your career.

PROS
Suitable for people who likes to start and carry out projects
Suitable for people who values relationships between coworkers and customers and wants to work in a friendly noncompetitive environment
This career is perfect for people who love to work indoors.
One of the highest paid careers in the world
CONS
Not suitable for people who likes practical and handson work
It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
79%

Is this job meaningful
55%


Working hours
More than 40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Compensation and Benefits Managers work More than 40 hours per week.

79% of HR Managers said they were satisfied with their job and 55% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Persuaders and The Organizers


You can read more about these career personality types here.

People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.

They also like following set procedures and routines. They like working with data and details more than with ideas.



How we can help

Start your journey to be A HR Manager

Get the best college for HR Managers


Discover the best colleges for your $$$


Find colleges have the highest earning grads


Yes, I'm sure


Rank: B
Salary: $64380

They conduct programs of compensation and benefits and job analysis for employer. May specialize in specific areas, such as position classification and pension programs.
Rank: B+
Salary: $73670

They examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
Rank: B
Salary: $71230

They analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
Rank: A+
Salary: $114140

They plan, direct, or coordinate human resources activities and staff of an organization.
Rank: B
Salary: $73940

They examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports.






Trusted by over 50,000 fans

[easy-followers title=”” nofollow=”1″ total_type=”text_before” columns=”2″ template=”tinycolor”]

Career type

Management
Human Resources

Other Careers Like This


Help Others Out



Learn more about HR Managers

Summary (You are here)
Job Description
Salary
Requirements
Is This Right For Me

Study To Be A HR Manager


Related to Compensation and Benefits Managers Career Information

Compensation and Benefits Managers job description, Compensation and Benefits Managers salary, Compensation and Benefits Managers information, what is the job of a Compensation and Benefits Manager like, pros and cons about Compensation and Benefits Managers, colleges and universities for Compensation and Benefits Managers, is Compensation and Benefits Managers the right career for me, Quite Hard careers to get into, careers in Management

Additional resources

http://www.bls.gov/OOH/management/compensation-and-benefits-managers.htm
http://www.ifebp.org/
http://www.worldatwork.org/
http://www.shrm.org/

OwlGuru.com
OwlGuru.com is a career and college finder site. We help students to find a career and college that is right for them.
Compensation and Benefits Managers
Written by: Stanley Tan
HR Managers plan, direct, or coordinate compensation and benefits activities of an organization.
4.8 / 5 stars

Leave a Reply

Your email address will not be published. Required fields are marked *