Benefits Director Salary
Job Description for Benefits Director
A benefits director oversees benefits areas such as health insurance, life insurance, and retirement plans, as well as leave and employee transfers and promotions. They are also responsible for maintaining records of employee activity in these areas and ensuring that employees are eligible for the programs in which they are enrolled.Read More...
Benefits directors generally educate employees about benefits options that are available, and this may include organizing seminars, safety programs, bonus/incentive programs, and other events. They must always keep track of new developments in their company and overall field in order to identify new risks which may arise. Many benefits directors also oversee compensation and may set compensation standards for their company; standards of compensation should be determined by taking surveys and analyzing data within the field and company, and direct input from employees should also be considered.
Benefits directors may have budgets which must be met, and proposed expenditures may have to be submitted to upper management for approval. Most of the work is performed in an office, though some in-field surveying and travel may be necessary.
Benefits Director Tasks
- Ensure compliance of all plans and programs with governmental regulatory agencies.
- Develop, recommend, and manage annual benefit budgets.
- Oversee and build relationships with third-party benefit providers, auditors, brokers, and administrators.
- Design and develop benefit programs and policies aligned with organizational objectives and goals.
- Plan, implement, communicate and oversee the administration of employee benefits programs.
Employee Benefits Director Job Listings
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Popular Skills for Benefits Director
Survey results show that Benefits Directors typically report just a few professional skills. Most notably, facility with Vendor Management and Regulatory Compliance are correlated to pay that is significantly above average, leading to increases of 21 percent and 5 percent, respectively. Skills that pay less than market rate include Human Resources Information System. The majority of those who know Benefits Administration also know Regulatory Compliance.
Pay by Experience Level for Benefits Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Salaries for the relatively untried average out to around $60K, but survey participants with five to 10 years of experience earn a significantly higher median of $83K. Benefits Directors claiming one to two decades of experience make an estimated median of $97K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $111K.