Compensation and Benefits Managers
Compensation and Benefits Managers design and manage how companies pay their employees and what benefits they offer, like health insurance and retirement plans. They research what other companies pay for similar jobs, work with insurance companies and investment firms, and make sure everything follows government rules. Using HR software and data analysis tools, they create fair pay structures and communicate these programs to employees. This career typically requires a business or human resources degree and offers opportunities to work in various industries with hybrid work options.
Did you know?
Must stay current with complex federal and state compensation laws including FLSA, Equal Pay Act, and ERISA to ensure all rewards programs meet legal requirements.
At a glance
Typical average pay
$130,900 Avg/yr
Growth
Stable
Top skill
Active Listening
Things to consider
Market Competitiveness Analysis
Requires continuous benchmarking against industry standards and competitor offerings to design attractive packages that help organizations win the talent war in America's competitive job market.
Technology and Data Analytics Proficiency
Must be skilled in HR technology platforms and data analysis tools to design, implement, and measure the effectiveness of modern rewards programs in the digital-first American workplace.
Key responsibilities
Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
Maintain records and compile statistical reports concerning personnel-related data, such as hires, transfers, performance appraisals, and absenteeism rates.
Study legislation, arbitration decisions, and collective bargaining contracts to assess industry trends.
Negotiate bargaining agreements.
Represent organization at personnel-related hearings and investigations.