Google Trend growth of Benefits Managers has had some historical dips but a recovery over the last few years. The peak time for a Benefits Manager proves to be in the February months. In looking ahead, it seems like 2013 will be a good year for a Compensation and Benefits Manager and will be most likely in line with the previous years.
Benefits managers plan, direct, and coordinate how retirement plans, health insurance, and other benefits an organization offers its employees. Familiarity with health benefits is a top priority, as firms struggle with the rising cost of health care for employees and retirees. Benefits managers must keep on top of changing Federal and State regulations and legislation that may affect employee benefits.
Bureau of Labor Statistics information for the median salary in 2010 for Benefits Managers shows the the wage was $89,270 a year which is about $42.92 an hour. To be a Benefits Manager you will need a Bachelor’s degree. They also 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 do require a master’s degree. The total number of Benefits Manager jobs available in the job market in 2010 reported by the BLS was 31,800. The Benefits Manager career is expected to grow by 3% from 2010 – 2020 which is much slower than the average. It’s also expected to add around 900 jobs to the overall market over this 10 year period. Being employed in one of the best paying states for Benefits Managers can earn you as much as $75,000 a year which is about $14,270 less than the median pay.
Listed below is information that is specific to Benefits Manager job salaries that you can expect to receive in that state area. Our state by state breakdown allows you to see which state is best to get a job as a Benefits Manager. The salary information provided below is off of real-world job listings for Compensation and Benefits Managers and the pay offered for those jobs. We source Indeed, Simply Hired, PayScale and GlassDoor.com. The information provided by Indeed about their process for collecting salary averages is as follows: “Indeed Salary Search is based on an index of salary information extracted from over 50 million job postings from thousands of unique sources over the last 12 months. Many job descriptions don’t contain salary information, but there are enough that do to produce statistically significant median salaries for millions of keyword, job title and location combinations – in fact, most job searches you are likely to think of. As new jobs are added each day, the Indeed Salary Search index is automatically updated with fresh salary data, so the salary results are as up-to-date as they could possibly be.”