Avg. Base Salary (USD)
The average salary for a Benefits Analyst is $61,467 in 2024
What is the Pay by Experience Level for Benefits Analysts?
An entry-level Benefits Analyst with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $52,486 based on 21 salaries. An early career Benefits Analyst with 1-4 years of experience earns an average total compensation of $61,097 based on 71 salaries. A …Read more
What Do Benefits Analysts Do?
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 …Read more
- 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.
FAQs About Benefits Analysts
What is the highest pay for Benefits Analysts?
Our data indicates that the highest pay for a Benefits Analyst is $77k / year
What is the lowest pay for Benefits Analysts?
Our data indicates that the lowest pay for a Benefits Analyst is $46k / year
How can Benefits Analysts increase their salary?
Increasing your pay as a Benefits Analyst is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a Benefits Analyst that oversees more junior Benefits Analysts, this experience can increase the likelihood to earn more.