Compensation / Benefits Manager
Quick Facts
Median Salary$123,118
Most Common EducationBachelor's degree
Projected 10-Year Growth+22.15%
Assessment MatchTake the Assessment
What They Do
A Compensation or Benefits Manager manages compensation and benefits systems and records for an organization or company. Determines pay structure and job classifications for company employees. Supervises payroll, accounting of employee benefits, and payout of benefits such as pensions or disability insurance.
Core Tasks:
- 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.
- Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
- Develop methods to improve employment policies, processes, and practices, and recommend changes to management.
- Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
What to expect as a Compensation / Benefits Manager
1Earn a Bachelor's degree
61% of people achieve this level of education.
2Gain skills and experience
See Compensation / Benefits Manager related courses on Tallo
3Land a job
2459 openings for Compensation / Benefits Managers
Career Progression
in United States (Nation)
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