$56,609
Avg. Salary

Average additional compensation for this job:

Bonus

$2,475

Profit Sharing

$1,323

For Benefits Analysts with Benefits Administration skills, annual average wages total $57K per year. Overall cash earnings for Benefits Analysts with Benefits Administration skills stretch from $42K on the lower end to $76K near the top, and the heftiest packages can encompass around $7K from bonuses and $9K from profit sharing. Geography and career duration each impact pay for this group, with the former having the largest influence. Almost all have medical and dental plans, and a large number have vision insurance. The majority of Benefits Analysts with Benefits Administration skills claim high levels of job satisfaction. The vast majority (83 percent) of Benefits Analysts with Benefits Administration skills who took the survey are female. This overview is based on answers to PayScale's salary questionnaire.

$42,327 - $73,119
$42K
$57K
$73K
MEDIAN: $56,609
10%
50%
90%

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$16.58 - $29.10
$17
$23
$29
MEDIAN: $22.96
10%
50%
90%

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$0$74K
Salary $42,327 - $73,119
Bonus $493 - $6,231
Profit Sharing $103 - $7,272
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).
)
$40,012 - $74,649
  • Country: United States
  • Currency: USD
  • Updated: 12 Aug 2018
  • Individuals Reporting: 518
Hourly Data $0$40
Hourly Rate $16.58 - $29.10
Overtime $24.15 - $40.95
Annual Data $0$74K
Bonus $493 - $6,231
Profit Sharing $103 - $7,272
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).
)
$40,012 - $74,649
  • Country: United States
  • Currency: USD
  • Updated: 12 Aug 2018
  • Individuals Reporting: 99

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.

Benefits Analyst Job Listings

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 $52,000 based on 139 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 106 salaries. An experienced Benefits Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $62,000 based on 103 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 $64,000 based on 33 salaries.

Pay Difference by Location

National Average: $55,892

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

Minneapolis is home to an above-average pay rate for Benefits Analysts with Benefits Administration skills, 19 percent higher than the national average. Benefits Analysts with Benefits Administration skills will also find cushy salaries in Los Angeles (+10 percent), Atlanta (+6 percent), Philadelphia (+5 percent), and Houston (+3 percent). Falling short of the national average by 20 percent, the area with the worst salaries is Dallas. Below-median salaries also turn up in Denver and San Diego (15 percent lower and 14 percent lower, respectively).

Key Stats for Benefits Analyst

Gender

Female
83 %
Male
17 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 144 votes.
Less than 1 year
4%
1-4 years
37%
5-9 years
25%
10-19 years
25%
20 years or more
10%

Experience Affects Benefits Analyst Salaries

Late-Career
▲14%

Experienced
▲12%

Mid-Career
▲7%

National Average
$56,000

▼7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 144 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
4%
1-4 years
37%
5-9 years
25%
10-19 years
25%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 87%
vision benefits
Vision: 84%
no benefits
None: 7%