Summary
![Compensation and benefits managers](https://webarchive.library.unt.edu/web/20130317032206im_/http://www.bls.gov/ooh/images/p02-to-p03/p023-1-jpg.jpg)
Quick Facts: Compensation and Benefits Managers | |
---|---|
$89,270 per year
$42.92 per hour |
|
Bachelor’s degree | |
1 to 5 years | |
None | |
31,800 | |
3% (Slower than average) | |
900 |
What Compensation and Benefits Managers Do
Compensation managers plan, direct, and coordinate how and how much an organization pays its employees. Benefits managers do the same for retirement plans, health insurance, and other benefits an organization offers its employees.
Work Environment
Compensation and benefits managers work throughout the economy. They typically work in offices and may work long hours.
How to Become a Compensation or Benefits Manager
Candidates need a combination of education and related work experience to become a compensation and benefits manager. Although most positions require at least a bachelor’s degree, some require a master’s degree.
Pay
The median annual wage of compensation and benefits managers was $89,270 in May 2010.
Job Outlook
Employment of compensation and benefits managers is expected to grow 3 percent from 2010 to 2020, slower than the average for all occupations. Continued contracting out of compensation and benefits work is expected to result in slow employment growth. Candidates will face competition for jobs.
Similar Occupations
Compare the job duties, education, job growth, and pay of compensation and benefits managers with similar occupations.
O*NET
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Contacts for More Information
Learn more about compensation and benefits managers by contacting these additional resources.