Senior Benefits Analyst Salary
Senior Benefits Analysts in the United States are often veterans in their line of work, with slightly more than half bringing more than 10 years of experience to the table. Salaries slide in at $69K annually on average but can range from $51K to $89K per year. In the world of Senior Benefits Analysts, total cash compensation can vary between $51K and $89K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $10K and $5K, respectively. Location is the biggest factor affecting pay for this group, followed by career duration. Job satisfaction is high and work is enjoyable for most Senior Benefits Analysts. Female Senior Benefits Analysts far outnumber their male contemporaries among survey respondents. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a large number. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
|Salary||$51,608 - $85,423|
|Bonus||$989 - $10,179|
|Profit Sharing||$604 - $4,966|
|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).)
|$50,988 - $88,593|
|Hourly Rate||$18.52 - $41.19|
|Overtime||$20.85 - $46.52|
|Bonus||$989 - $10,179|
|Profit Sharing||$604 - $4,966|
|Total Pay (||$50,988 - $88,593|
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 report using a diverse set of skills on the job. Most notably, skills in Strategic Project Management, Project Management, 401k Plan Administration, and Data Analysis are correlated to pay that is above average. Those educated in Benefits Administration tend to be well versed in 401k Plan Administration.
Pay by Experience Level for Senior Benefits Analyst
Pay by Experience for a Senior Benefits Analyst has a positive trend. An entry-level Senior Benefits Analyst with less than 5 years of experience can expect to earn an average total compensation of $62,000 based on 66 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Benefits Analyst with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 116 salaries. An experienced Senior Benefits Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $72,000 based on 123 salaries. A Senior Benefits Analyst with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $77,000 based on 43 salaries.
Pay Difference by Location
Home to some of the best pay for Senior Benefits Analysts, San Francisco offers exceptional salaries, 9 percent above the national average. Senior Benefits Analysts can also look forward to large paychecks in cities like Houston (+8 percent), Los Angeles (+7 percent), Washington (+7 percent), and Pittsburgh (+7 percent). Minneapolis is home to the smallest salaries in the field, lagging the national average by 17 percent. Below-median salaries also turn up 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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