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Career profile Benefits Manager

Also known as Benefits Coordinator, Benefits Manager, Compensation and Benefits Manager, Compensation Director, Compensation Manager, Employee Benefits Coordinator, Employee Benefits Director, Employee Benefits Manager, Payroll Manager

Benefits Manager

Also known as Benefits Coordinator, Benefits Manager, Compensation and Benefits Manager

Interests Profile
  • Enterprising
  • Conventional
  • Social
Pay Range
$70,920 - $208,000+ (annual)
Required Skills
  • Reading Comprehension
  • Active Listening
  • Speaking
Knowledge Areas
  • Personnel and Human Resources
  • Administration and Management
  • Customer and Personal Service
Core tasks
  • Design, evaluate, and modify benefits policies to ensure that programs are current, competitive, and in compliance with legal requirements.
  • Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
  • Analyze compensation policies, government regulations, and prevailing wage rates to develop competitive compensation plan.
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What does a Benefits Manager do?

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

What kind of tasks does a Benefits Manager perform regularly?

Benefits Managers are often responsible for overseeing or executing some or all of the following tasks:

  • 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).
  • Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
  • Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
  • Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
  • Manage the design and development of tools to assist employees in benefits selection, and to guide managers through compensation decisions.
  • Prepare detailed job descriptions and classification systems and define job levels and families, in partnership with other managers.
  • Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
  • Plan, direct, supervise, and coordinate work activities of subordinates and staff relating to employment, compensation, labor relations, and employee relations.
  • Identify and implement benefits to increase the quality of life for employees by working with brokers and researching benefits issues.
  • Prepare budgets for personnel operations.
  • Mediate between benefits providers and employees, such as by assisting in handling employees' benefits-related questions or taking suggestions.
  • Develop methods to improve employment policies, processes, and practices, and recommend changes to management.

The above responsibilities are specific to Benefits Managers. More generally, Benefits Managers are involved in several broader types of activities:

Getting Information
Observing, receiving, and otherwise obtaining information from all relevant sources.
Communicating with Supervisors, Peers, or Subordinates
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Making Decisions and Solving Problems
Analyzing information and evaluating results to choose the best solution and solve problems.
Evaluating Information to Determine Compliance with Standards
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Analyzing Data or Information
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

What is a Benefits Manager salary?

The median salary for a Benefits Manager is $125,130, and the average salary is $137,160. Both the median and average roughly describe the middle of the Benefits Manager salary range, but the average is more easily affected by extremely high or low salaries.

Many Benefits Managers earn significantly more or less than the average, due to several factors. About 10% of Benefits Managers earn less than $70,920 per year, 25% earn less than $93,510, 75% earn less than $168,500, and 90% earn more than $208,000.

Between the years of 2020 and 2030, the number of Benefits Managers is expected to change by 3.7%, and there should be roughly 1,500 open positions for Benefits Managers every year.

Median annual salary
$125,130
Typical salary range
$70,920 - Over $208,000
Projected growth (2020 - 2030)
3.7%

What personality traits are common among Benefits Managers?

Interests

Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.

Compared to most occupations, those who work as a Benefits Manager are usually higher in their Enterprising, Conventional, and Social interests.

Benefits Managers typically have very strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Also, Benefits Managers typically have strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Lastly, Benefits Managers typically have moderate Social interests. Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Values

People differ in their values, or what is most important to them for building job satisfaction and fulfillment.

Compared to most people, those working as a Benefits Manager tend to value Relationships, Working Conditions, and Support.

Most importantly, Benefits Managers very strongly value Relationships. Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.

Second, Benefits Managers strongly value Working Conditions. Occupations that satisfy this work value offer job security and good working conditions.

Lastly, Benefits Managers strongly value Support. Occupations that satisfy this work value offer supportive management that stands behind employees.

Psychological Demands

Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.

In order to perform their job successfully, people who work as Benefits Managers must consistently demonstrate qualities such as integrity, attention to detail, and analytical thinking.

Below, you'll find a list of qualities typically required of Benefits Managers, ranked by importance:

Integrity
Job requires being honest and ethical.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Analytical Thinking
Job requires analyzing information and using logic to address work-related issues and problems.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Initiative
Job requires a willingness to take on responsibilities and challenges.

What education and training do Benefits Managers need?

Many Benefits Managers will have a four-year bachelor's degree, but some do not.

Benefits Managers usually need several years of work-related experience, on-the-job training, and/or vocational training.

Educational degrees among Benefits Managers

  • 0.6% did not complete high school or secondary school
  • 8.5% completed high school or secondary school
  • 15.0% completed some college coursework
  • 5.6% earned a Associate's degree
  • 49.3% earned a Bachelor's degree
  • 18.8% earned a Master's degree
  • 2.3% earned a doctorate or professional degree

Knowledge and expertise required by Benefits Managers

Benefits Managers may benefit from understanding of specialized subject areas, such as personnel and human resources, administration and management, or customer and personal service knowledge.

The list below shows several areas in which most Benefits Managers might want to build proficiency, ranked by importance.

Personnel and Human Resources
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Important Abilities needed by Benefits Managers

Benefits Managers must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.

For example, Benefits Managers need abilities such as oral comprehension, written comprehension, and oral expression in order to perform their job at a high level. The list below shows several important abilities for Benefits Managers, ranked by their relative importance.

Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Speech Recognition
The ability to identify and understand the speech of another person.

Critical Skills needed by Benefits Managers

Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.

Benefits Managers frequently use skills like reading comprehension, active listening, and speaking to perform their job effectively. The list below shows several critical skills for Benefits Managers, ranked by their relative importance.

Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking
Talking to others to convey information effectively.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.

What is the source of this information?

The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.

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