Compensation and Benefits Managers: Salary, Job Description, How To Become One, and Quiz

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

Compensation and Benefits Managers

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

$132860
Salary
79%
Job Satisfaction
Hard
Becoming One
Low
Job Growth
Suitable Personality

Compensation and Benefits Managers

Salary, Job Description, How To Become One, and More


In this career summary, you will find out what the job of a Compensation and Benefits 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.


    Read more about what does a Compensation and Benefits Manager really do at work and what is it like being and working as one.




    Become one

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    Salary

    Average salary
    $132860 per year

    Average hourly wage
    $64 per hour


    Compensation and Benefits Managers with little to no experience tend to make between $70560 and $91480 while the more experienced ones can earn over $160450 per year.

    Top 5 paying statesHourlyAnnual
    NJ$84$174,730
    DE$84$174,380
    CT$79$164,240
    NY$78$161,950
    CO$75$155,570

    One of the easiest ways to increase your salary as a Compensation and Benefits Manager is to move to a higher paying state like NJ. Right now, the highest paying states for Compensation and Benefits Managers are NJ, DE, CT, NY and CO.

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

    Three other factors that can increase your salary as a Compensation and Benefits Manager is the degree you hold, the industry you work in and lastly the company you work for.



    Requirements

    Recommended degree level
    Bachelor’s Degree

    We asked other Compensation and Benefits Managers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Master’s Degree.

    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

    Read more about how to become a Compensation and Benefits Manager and the degree, training and education you need.



    Pros and Cons

    Here are some of the pros and cons of being a Compensation and Benefits Manager.

    PROS
    Suitable for people who likes to start and carry out projects
    Suitable for people who values relationships between co-workers and customers and wants to work in a friendly non-competitive 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 hands-on work
    It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
    Long working hours (More than 40 hours per week)



    What is the job like

    Job satisfaction
    79%

    Is this job meaningful
    55%


    79% of Compensation and Benefits 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 Entrepreneurs 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

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    Related 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, careers in Management

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