Employee Benefits Specialist Salary
Job Description for Employee Benefits Specialist
Employee benefits specialists are responsible for ensuring that all qualified employees receive the benefits that they request. Their position is also of consultation, as they consult with employees to ensure that they receive the most suitable benefits packages. They also conduct negotiations with insurance companies to ensure this.Read More...
These specialists deal with various aspects of employee benefits packages, so they must be highly knowledgeable in the areas of insurance and financial investments, as most companies offer investments as part of employee packages. They must also conduct research, so it's important to stay up-to-date on all changes within these fields.
Employee benefit specialists should have strong oral and written communication skills, as they communicate constantly with both insurance companies and employees regarding benefits and must be able to explain themselves in a proficient and professional manner. A bachelor's degree in the field of human resources is generally required for this position, and many employers prefer candidates who have exceptional field-related experience.
Employee Benefits Specialist Tasks
- Maintain records and procedures for the administration process.
- Analyze employee benefits data to ensure accuracy, including service from third party vendors.
- Participate in preparation and communication to employees about benefit programs, procedures, claims and any other government mandated disclosures.
- Administer and provide specialized support for employee benefits programs.
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Pay by Experience Level for Employee Benefits Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Employee Benefits Specialists do not generally earn higher incomes from more experience in the field. Those in the early stages of their career can expect to make around $42K; however, individuals with five to 10 years of experience bring in $48K on average — a distinctly larger sum. The average pay reported by folks with 10 to 20 years of experience is around $50K. Employee Benefits Specialists who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $52K on average.
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