Salary and Outlook

According to the US Department of Labor, there are 18,700 people employed as compensation and benefits managers in the United States. The median annual salary is $125,100. Entry level employees earn approximately $70,920 per year and senior employees earn approximately $208,000 (or more) per year.

Estimates do not include other potential benefits such as health insurance, overtime pay, or retirement benefits that may be offered by employers.

Job Duties

• Prepare personnel forecasts to project employment needs.
• Analyze statistical data and reports to identify and determine causes of personnel problems, and develop recommendations for improvement of organization's personnel policies and practices.
• Maintain records and compile statistical reports concerning personnel-related data, such as hires, transfers, performance appraisals, and absenteeism rates.
• Plan and conduct new-employee orientations to foster positive attitude toward organizational objectives.
• Represent organization at personnel-related hearings and investigations.
• Contract with vendors to provide employee services, such as food services, transportation, or relocation service.
• 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.
• Administer, direct, and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions.
• Fulfill all reporting requirements of all relevant government rules and regulations, including the Employee Retirement Income Security Act (ERISA).
• Formulate policies, procedures and programs for recruitment, testing, placement, classification, orientation, benefits and compensation, and labor and industrial relations.
• Direct preparation and distribution of written and verbal information to inform employees of benefits, compensation, and personnel policies.
• 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.
• Advise management on such matters as equal employment opportunity, sexual harassment, and discrimination.
• Negotiate bargaining agreements.
• Conduct exit interviews to identify reasons for employee termination.
• Investigate and report on industrial accidents for insurance carriers.

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