Compensation and benefits manager salary facts
Likewise, if you are an individual looking to move into a new role that suits you more, or that you believe will be a better fit for your needs, you will want to ensure that the compensation and benefits manager salary works for you as well.
How much do compensation and benefits managers make?
As of May 2022, the average salary for a compensation and benefits manager working in the United States will fall somewhere between $127,530 and $133,477. Broader pay ranges for this profession typically fall between $111,596 and $140,520, though it is possible to find salaries even lower or higher than these. An individual’s education and certifications, years of experience in their organization or industry, and skills that they have learned in their education or over time will all factor in where they sit on the pay scale.
On top of the pay earned, compensation and benefits managers have the potential to earn bonuses. This also has an average, of $10,608 per year. This represents 8% of their overall salary, and experts have reported that 100% of compensation and benefits managers asked reported that they receive yearly bonuses.
National estimates for compensation and benefits managers
The employee estimate and mean wage estimates for compensation and benefits managers are as follows:
| Employment | Employment RSE | Mean hourly wage | Mean annual wage | Wage RSE |
| 15,330 | 2.5% | $67.05 | $139,470 | 1.0% |
Percentile estimates for compensation and benefits managers
The percentile wage estimates for compensation and benefits managers are as follows:
| Percentile | 10% | 25% | 50% (Median) | 75% | 90% |
| Hourly | $37.04 | $47.46 | $61.31 | $78.79 | * |
| Annual | $77,040 | $98,720 | $127,530 | $163,870 | ** |
* This wage is equal to or greater than $100 per hour.
** This wage is equal to or greater than $208,000 per year.
Top paying industries for compensation and benefits managers
| Industry | Employment* | Percent of industry in employment | Hourly mean wage | Annual mean wage** |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | 330 | 0.03 | $84.71 | $176,200 |
| Newspaper, Periodical, Book, and Directory Publishers | 40 | 0.02 | $82.65 | $171,910 |
| Software Publishers | 140 | 0.03 | $82.43 | $171,460 |
| Navigational, Measuring, Electromedical, and Control Instruments Manufacturing | 70 | 0.02 | $80.18 | $166,780 |
| Electronic Shopping and Mail-Order Houses | 40 | 0.01 | $78.60 | $163,480 |
* Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. These estimates do not include self-employed workers, either.
** These annual wages have been calculated by the Bureau of Labor Statistics, by multiplying the hourly mean wage by a “year-round, full-time” hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.
Even though these are the top paying industries for compensation and benefits managers, this does not mean that these are the industries most compensation and benefits managers work in. This is why we have also provided a table on the top industries likely to hire people in compensation management and the management of employee benefits, along with the median annual wages they are likely to earn:
| Industry | Median annual wage |
| Management of companies and enterprises | $135,460 |
| Professional, scientific, and technical services | $131,710 |
| Insurance carriers and related activities | $127,690 |
| Healthcare and social assistance | $118,960 |
| Government | $101,860 |
Top paying states for compensation and benefits managers
| State | Employment* | Employment per thousand jobs | Location quotient*** | Hourly mean wage | Annual mean wage** |
| New York | 1,480 | 0.17 | 1.57 | $89.24 | $185,620 |
| New Jersey | 480 | 0.13 | 1.15 | $83.98 | $174,680 |
| Connecticut | 240 | 0.15 | 1.42 | $77.17 | $160,520 |
| Washington | 260 | 0.08 | 0.74 | $74.73 | $155,440 |
| California | 1,890 | 0.11 | 1.05 | $71.96 | $149,670 |
* Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. These estimates also do not include self-employed workers.
** These annual wages have been calculated by the Bureau of Labor Statistics, by multiplying the hourly mean wage by a “year-round, full-time” hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.
*** The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.
Top paying metropolitan areas for compensation and benefits managers
| Metropolitan area | Employment* | Employment per thousand jobs | Location quotient*** | Hourly mean wage | Annual mean wage** |
| New York-Newark-Jersey City, NY-NJ-PA | 1,540 | 0.18 | 1.63 | $91.62 | $190,560 |
| Bridgeport-Stamford-Norwalk, CT | 80 | 0.23 | 2.08 | $90.27 | $187,770 |
| San Jose-Sunnyvale-Santa Clara, CA | 240 | 0.22 | 2.05 | $85.16 | $177,130 |
| San Francisco-Oakland-Hayward, CA | 440 | 0.20 | 1.81 | $79.97 | $166,330 |
| Charlotte-Concord-Gastonia, NC-SC | 280 | 0.23 | 2.09 | $78.59 | $163,460 |
| Seattle-Tacoma-Bellevue, WA | 210 | 0.11 | 1.00 | $77.51 | $161,210 |
| Fayetteville-Springdale-Rogers, AR-MO | 50 | 0.19 | 1.78 | $74.22 | $154,370 |
| Hartford-West Hartford-East Hartford, CT | 100 | 0.18 | 1.69 | $73.57 | $153,030 |
| St. Louis, MO-IL | 100 | 0.08 | 0.75 | $73.05 | $151,940 |
| Rochester, NY | 60 | 0.12 | 1.10 | $72.86 | $151,560 |
* Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. These estimates do not include self-employed workers.
** These annual wages have been calculated by the Bureau of Labor Statistics, by multiplying the hourly mean wage by a “year-round, full-time” hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.
*** The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.
Similar occupations with similar pay scales
There are a number of different job titles considered similar to compensation and benefits management. Many of these will carry out similar tasks and have similar responsibilities to compensation and benefits managers, and some will even be paid on a similar scale. For individuals who are considering several different options for a career change it may be beneficial to consider these if becoming a compensation and benefits manager is not a path that’s readily available:
| Occupation | Expected duties | Median pay (as of 2021) |
| Administrative Services and Facilities Manager | Planning, directing, and coordinating activities to help the organization run smoothly. | $99,290 |
| Compensation, Benefits, and Job Analysis Specialist | Overseeing wage and nonwage programs that the organization provides to employees. Also evaluating position descriptions to determine details such as classification and salary. | $64,120 |
| Financial Manager | Creating financial reports, directing investment activities, and developing plans for the organization’s long-term financial goals. | $131,710 |
| Human Resources Manager | Planning, coordinating, and directing the organization’s administrative functions. | $126,230 |
| Human Resources Specialist | Recruiting, screening, and interviewing job applicants, and placing newly hired workers in jobs. They may also handle compensation and benefits, training, and employee relations. | $62,290 |
| Labor Relations Specialist | Interpreting and administering labor contracts. | $77,010 |
| Purchasing Manager, Buyer, and Purchasing Agent | Buying products and services for the organization. Also overseeing the work of buyers and purchasing agents. | $75,410 |
| Top Executive | Planning strategies and policies to ensure the organization meets its goals. | $98,980 |
| Training and Development Manager | Planning, coordinating, and directing skills and knowledge enhancement programs for the organization’s staff. | $120,130 |
| Training and Development Specialist | Planning and administering programs that improve the skills and knowledge of employees. | $61,570 |
Becoming a compensation and benefits manager
As well as deciding based on salary, becoming a compensation and benefits manager requires careful planning and consideration, specifically around the education and personality traits needed to be considered by organizations. Similar to this, a candidate might also wish to consider job outlook and prospects for a compensation and benefits manager over the next few years.
Education for compensation and benefits managers
Candidates looking to become compensation and benefits managers will generally need a bachelor’s degree or a master’s degree in business or HR. They should also have several years of experience working in Human Resources, and will ideally have a strong background in finance and statistical analysis. These are prioritized as crucial elements involved in working with pay and benefits plans.
Compensation certifications that demonstrate capability in the field should also be presented at the same time as a bachelor degree, master degree, and years of experience. Acceptable certifications include:
- Certified Compensation Professional
- Certified Employee Benefits Specialist
- Compensation Management Specialist
There are other, broader Human Resource Certifications, such as those offered by the Society for Human Resources Management (SHRM), the HR Certification Institute (HRCI), and certain online courses. These can provide a general knowledge of compensation and benefits as a whole, but they are not considered as specialized as the certifications we have specifically listed.
Personality traits expected of compensation and benefits managers
Candidates for the position of compensation and benefits manager will, alongside having some of the qualifications already discussed here, also be expected to display certain personality traits:
- Adventurous
- Assertive
- Ambitious
- Confidence
- Energetic
- Enthusiastic
- Extroverted
- Optimistic
In order to succeed at this specific role, a compensation and benefits manager should also be able to persuade and motivate employees, while also demonstrating leadership qualities, good communication skills, and the ability to make the best decisions for an organization’s growth.
Prospects and outlook for compensation and benefits managers
There are estimated to be around 18,700 people working as compensation and benefits managers in the United States, as of 2020. This number is projected to grow 4% from 2020 to 2030. The Bureau of Labor Statistics reports that this is slower than average for all occupations.
Even though growth in employment is expected to be limited, an estimated 1,500 positions within compensation and benefits management are projected for each year over the decade. Most of these will be expected to fill roles left by workers who are retiring, or those who are moving on to different careers and occupations.