Senior Benefits Analyst Salary
With a little more than half of Senior Benefits Analysts in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Senior Benefits Analysts is $69K per year and can range from $51K on the lower end to $88K per year near the higher end. In the world of Senior Benefits Analysts, overall income ranges from $51K near the bottom to $88K at the top; this can include more than $10K from bonuses and more than $5K from profit sharing in exceptional cases. Location and years of experience each impact pay for this group, with the former having the largest influence. Female Senior Benefits Analysts far outnumber their male contemporaries among survey respondents. Medical benefits are awarded to almost all, and a large number earn dental coverage. Work is enjoyable for Senior Benefits Analysts, who typically claim high levels of job satisfaction. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
|Salary||$52,494 - $84,451|
|Bonus||$970 - $10,096|
|Profit Sharing||$608 - $4,932|
|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).)
|$51,050 - $87,608|
|Hourly Rate||$18.67 - $40.87|
|Overtime||$11.50 - $49.04|
|Bonus||$970 - $10,096|
|Profit Sharing||$608 - $4,932|
|Total Pay (||$51,050 - $87,608|
Job Description for Senior Benefits Analyst
A senior benefits analyst manages the day-to-day administration of employee benefits. The responsibilities include new hire benefit enrollment, as well as the life event and annual benefits enrollment processes. Another main task is to create and maintain the annual compliance calendar to ensure that every employee has received benefit information and completed any necessary steps. The typical workday takes place in an office setting during regular business hours. The opportunity to work from home is sometimes available, though the senior benefits analyst does need to be available to employees who may have questions or concerns.Read More...
An associate's or bachelor's degree in a related field is typically preferred, though it is not necessarily required. Several years' experience in human resources and benefits administration are needed. The senior benefits analyst must be proficient in basic computer software programs such as the Microsoft Office suite. Comprehensive knowledge of flexible benefits program and benefits administration - including Section 125 regulations, COBRA, FMLA, HIPAA, and IRS regulations - is useful for this position. A thorough knowledge of human resource management systems is typically required as well.
Senior benefits analysts should be able to anticipate and meet deadlines. Time management skills, the ability to multitask, and the ability to prioritize are critical. They should be prepared to work independently, but also be able to work with a team. Excellent written and oral communication skills are essential for success in this position, as are strong analytical skills and attention to detail.
Senior Benefits Analyst Tasks
- Ensure benefit plans are administered according to plan provisions and company's regulatory guidelines.
- Work with insurance carriers to resolve issues regarding eligibility and claims.
- Provide ongoing analysis on trends, legislative changes and best practices within the benefits field.
- Participate in cross-departmental budget review for benefit plans.
- Formulate solutions to solve needs regarding benefits.
Common Career Paths for Senior Benefits Analyst
Popular Skills for Senior Benefits Analyst
Senior Benefits Analysts generally report applying a varied skill set to their work. Most notably, skills in Project Management, 401k Plan Administration, Data Analysis, and Vendor Management are correlated to pay that is above average. Most people experienced in Benefits Administration also know 401k Plan Administration.
Pay by Experience Level for Senior Benefits Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Senior Benefits Analysts, more experience in the field does not usually mean bigger paychecks. 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 $70K. Senior Benefits Analysts see a median salary of $72K after reaching one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $76K.
Pay Difference by Location
Senior Benefits Analysts will find that Washington offers an impressive pay rate, one which exceeds the national average by 14 percent. Senior Benefits Analysts will also find cushy salaries in San Francisco (+10 percent), Houston (+9 percent), Los Angeles (+8 percent), and Chicago (+6 percent). Those in the field find the lowest salaries in Minneapolis, 16 percent below the national average. Not at the bottom but still paying below the median are employers in Denver and Dallas (4 percent lower and 3 percent lower, respectively).
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Key Stats for Senior Benefits Analyst
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