Benefits Director Salary
|Salary||$62,017 - $142,030|
|Bonus||$-0.49 - $21,873|
|Total Pay (||$64,101 - $168,058|
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.
Popular Skills for Benefits Director
Benefits Directors who responded to the survey indicated only a few skills that they use on the job. Most notably, skills in Vendor Management, Regulatory Compliance, Benefits Administration, and Human Resources Information System (HRIS) are correlated to pay that is above average. Skills that pay less than market rate include Human Resources Information System and Benefits Administration. Most people who know Benefits Administration also know Regulatory Compliance.
Pay by Experience Level for Benefits Director
Pay by Experience for a Benefits Director has a positive trend. An entry-level Benefits Director with less than 5 years of experience can expect to earn an average total compensation of $60,000 based on 13 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Benefits Director with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $80,000 based on 15 salaries. An experienced Benefits Director which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $98,000 based on 41 salaries. A Benefits Director with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $108,000 based on 41 salaries.
Pay Difference by Location
For Benefits Directors, working in the bustling city of Chicago has its advantages, including an above-average pay rate. Benefits Directors will also find cushy salaries in Washington (+3 percent). New York is home to the smallest salaries in the field, lagging the national average by 8 percent.
Related Job Salaries
Key Stats for Benefits Director
Rated 4 out of 5
based on 9 votes.