Manager, Compensation Salary
Compensation Managers in the United States can expect to earn a very generous salary, with average salaries (in the ballpark of $106K) surpassing six figures annually. Career duration is the biggest factor affecting pay for this group, followed by geography. Women Compensation Managers who took the survey just slightly outnumber men. Women are just slightly outnumbered, with male Compensation Managers making up 50 percent of survey respondents. Work is enjoyable for Compensation Managers, who typically claim high levels of job satisfaction. Nearly all receive medical and dental insurance and most get vision plans. The data in this summary comes from the PayScale salary survey.
Job Description for Manager, Compensation
Compensation managers are responsible for overseeing several employees within their companies to ensure that all goals and tasks set by upper-management are met within the appropriate deadlines. Communication with both upper-management and other employees in the company is essential in this position, and these managers must also have strong interpersonal skills and general knowledge of office software, emails, and multi-line telephone systems.Read More...
Aspiring compensation managers should have a general understanding of training procedures, labor laws, and employee rights, as well as the ability to troubleshoot problems independently and without supervision. Prior experience interviewing potential employees is beneficial for this position, as is the ability to create and maintain accurate employee progress reports. Compensation managers should be determined, dedicated to the company's success, and willing to take responsibility for their departments.
Prior experience and formal training are helpful for this position, and employers may prefer applicants who have a bachelor's or master's degree in a business-related field. These managers must also be willing to attend regular company meetings and seminars, as well as complete required ongoing education and training for their positions.
Manager, Compensation Tasks
- Plan all compensation programs, procedures and practices to ensure consistency with organizations overall objectives and are in compliance with professional standards, state and federal regulatory requirements and laws.
- Manage the day to day operations of the compensation department's programs; job evaluation, performance appraisal, salary administration and incentive programs.
- Manage the selection, training and development of staff.
Common Career Paths for Manager, Compensation
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Pay by Experience Level for Manager, Compensation
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Annually raking in $110K, the average professional in this position sees a six-figure salary within the first five years. On average, Compensation Managers make $118K following one to two decades on the job. For some reason, Compensation Managers with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $113K.