Benefits Analyst Salary

A Benefits Analyst earns an average salary of $55,447 per year. Most people move on to other jobs if they have more than 20 years' experience in this field. For the first five to ten years in this position, salary increases somewhat, but any additional experience does not have a big effect on pay.

$40,708 - $74,215
$41K
$56K
$74K
MEDIAN: $55,683
10%
50%
90%

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$15.59 - $28.41
$16
$22
$28
MEDIAN: $22.38
10%
50%
90%

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$0$75K
Salary $40,708 - $74,215
Bonus $489.36 - $6,948
Profit Sharing $0.00 - $5,392
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).
)
$39,303 - $75,817
  • Country: United States
  • Currency: USD
  • Updated: 6 Oct 2017
  • Individuals Reporting: 503
Hourly Data $0$44
Hourly Rate $15.59 - $28.41
Overtime $21.30 - $44.82
Annual Data $0$75K
Bonus $489.36 - $6,948
Profit Sharing $0.00 - $5,392
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).
)
$39,303 - $75,817
  • Country: United States
  • Currency: USD
  • Updated: 6 Oct 2017
  • Individuals Reporting: 100

Job Description for Benefits Analyst

A benefits analyst works closely with members of particular benefit plans, such as insurance plans and pension plans. They interact with members either in person, through e-mail, or via the telephone, helping them understand current coverage and potential future needs. Most of their time is spent reading benefit coverages and putting together plans of action for members, including explaining the details to those beneficiaries. Most benefit packages are regulated by state and federal law; a benefits analyst must stay current on applicable law and compliance regulations, as well as be able to explain these laws as needed to beneficiaries. They may also be required to contribute to new plan ideas, maintain databases of existing plans, and monitor release of benefits. Developing ideas and relaying data sets, client information, and cost effectiveness to senior personnel is important as well. These professionals typically work full time in an office environment during business hours, although schedules may vary depending on the needs of the business.

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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 Benefits Analyst


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Benefits Analyst Job Listings

Popular Employer Salaries for Benefits Analyst

Popular Skills for Benefits Analyst

Pay by Experience Level for Benefits Analyst

Pay by Experience for a Benefits Analyst has a positive trend. An entry-level Benefits Analyst with less than 5 years of experience can expect to earn an average total compensation of $51,000 based on 326 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A 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 $60,000 based on 167 salaries. An experienced Benefits Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $63,000 based on 149 salaries. A 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 $65,000 based on 53 salaries.

Pay Difference by Location

National Average: $54,650

Larger city markers indicate a job is popular in that location.

Related Job Salaries

Key Stats for Benefits Analyst

Gender

Female
75 %
Male
25 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 114 votes.
Less than 1 year
6%
1-4 years
46%
5-9 years
21%
10-19 years
19%
20 years or more
8%

Experience Affects Benefits Analyst Salaries

▲19%

▲15%

▲10%

National Average
$55,000

▼7%

Skills That Affect Benefits Analyst Salaries



Microsoft Office
▲1%


Leave of Absence Administration
▲1%

Microsoft Excel
▼0%

Benefits & Compensation
▼0%

Financial Analysis
▼0%

National Average
$55,000

Insurance
▼16%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 114 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
6%
1-4 years
46%
5-9 years
21%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 85%
vision benefits
Vision: 76%
no benefits
None: 10%