Benefits Manager Salary
With slightly less than two-thirds of Benefits Managers in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Benefits Managers is $74K annually and can range from $48K on the lower end to $111K per year near the higher end. Including potential for bonuses and profit sharing — peaking near $15K and $10K, respectively — total cash payment to Benefits Managers can bottom out near $48K or peak near $111K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by years of experience. For the most part, Benefits Managers enjoy their work and report high levels of job satisfaction. Women account for the majority of Benefits Managers who took the survey — 89 percent to be exact. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to a strong majority. This snapshot results from replies to PayScale's salary survey.
|Salary||$49,001 - $105,609|
|Bonus||$1,184 - $15,293|
|Profit Sharing||$99.33 - $9,787|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$47,700 - $110,988|
|Hourly Rate||$13.43 - $29.76|
|Overtime||$18.72 - $49.69|
|Bonus||$1,184 - $15,293|
|Profit Sharing||$99.33 - $9,787|
|Total Pay (||$47,700 - $110,988|
Job Description for Benefits Manager
A benefits manager is a supervisory position in a company's Human Resources (HR) department. Benefits managers' primary role is to handle all issues related to employee benefits. Usually in most medium and large-sized companies, much of this benefit work revolves around employee health care insurance and related programs, but it can also include other aspects as well.Read More...
For employees, the two most important benefits they carry are their employer-sponsored health insurance and earned vacation time. Both of these (and more) are administered by benefits managers. They also help determine employees' benefit eligibility and process the documentation for new employees. In addition, benefits managers also help process and expedite claim forms of employees covered by company-sponsored health insurance.
While much of benefits managers' time is consumed with insurance work, they normally also maintain and update databases with employee sick day and vacation eligibility, and make the database available to the workers and supervisors at a company. This helps virtually all of the departments within a company ensure that employees' vacations do not adversely affect productivity.
A benefits manager normally must have at least a bachelor’s degree in a business-related discipline; larger companies may seek candidates with related postgraduate study in business management or human resources. Benefits managers normally work in an office environment during regular business hours. They must be organized, computer literate, good at working with others, and have an aptitude for understanding the complex and constantly changing insurance regulations and coverage terms, as well as changes in health care law.
Benefits Manager Tasks
- Ensure compliance of all plans and programs with governmental regulatory agencies.
- Manage vendors to ensure services are delivered within contractual agreements.
- Manage the selection, training and development of benefits staff who administer benefit programs and respond to employee inquiries.
- Propose cost and time efficient changes to benefits programs, manage the annual benefit budgets.
Common Career Paths for Benefits Manager
It's not very common for Benefits Managers to move on to become Directors of Compensation & Benefits. Average pay for a Director of Compensation & Benefits is $122K annually. A Human Resources Manager role is the most prevalent career advancement for Benefits Managers. Paychecks for that role are $59K on average. The Senior Benefits Manager position is another common transition for Benefits Managers; in this role, salaries are typically at the $95K mark.
Benefits Manager Job Listings
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Popular Skills for Benefits Manager
Benefits Managers report using a deep pool of skills on the job. Most notably, facility with Vendor Management, Pension Plan Administration, and 401k Plan Administration are correlated to pay that is significantly above average, leading to increases of 33 percent, 17 percent, and 5 percent, respectively. Those listing Human Resources as a skill should be prepared for drastically lower pay. Payroll Administration and Health and Wellness also typically command lower compensation. It is often found that people who know Benefits Administration are also skilled in Microsoft Office and Benefits & Compensation.
Pay by Experience Level for Benefits Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Benefits Managers with a lot of experience tend to enjoy higher earnings. Salaries for the relatively untried average out to around $59K, but survey participants with five to 10 years of experience earn a significantly higher median of $69K. After working for 10 to 20 years, Benefits Managers make a median salary of $81K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $89K.
Pay Difference by Location
For Benefits Managers, working in the bustling city of New York has its advantages, including an above-average pay rate. Benefits Managers can also look forward to large paychecks in cities like San Francisco (+32 percent), Chicago (+31 percent), Houston (+17 percent), and Seattle (+12 percent). Location is a huge contributor to overall pay, with Benefits Managers in Colorado Springs earning a whopping 30 percent below the national average. A couple other locations with smaller-than-average paychecks include Rochester (21 percent lower) and Orlando (11 percent lower).
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Key Stats for Benefits Manager
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