The following article discusses the career path of Benefits Manager. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Benefits Managers.
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Job Duties
Benefits managers are usually part of the overall HR department of the organization. Their primary aim is to ensure all matters relating to employee benefits are properly handled. Usually, if they work in medium to large organizations, this focuses on programs relating to health care insurance, although other elements can also be included.
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There are two key benefits that matter to employees. The first is their health insurance as sponsored by their employer, and the second is their paid vacation time. These are both administered by benefits managers. Additionally, they help to determine whether an employee is eligible for certain benefits, gathering all relevant documentation to support this. They manage various claim forms for their employees as well, ensuring that their employer-sponsored health insurance is properly managed.
The benefits managers’ greatest workload has to do with insurance. At the same time, they are responsible for the proper maintenance of databases in which employee vacation and sick day eligibility is maintained. They also ensure that the right people can access the right elements of this database. In so doing, all departments can ensure they are as productive as possible.
Other job duties of a benefits manager include:
- Making sure that all programs and plans are compliant with relevant governmental regulations
- Ensuring that vendor services are properly delivered as outlined in service level agreements
- Being responsible for the recruitment, training, and retention of benefits staff, ensuring that they are capable of responding to any employee queries relating to the benefits program
- Suggesting changes to the benefits program that make it more efficient and affordable, and holding responsibility for the budget
Where We Work
According to the U.S. Bureau of Labor Statistics, there were 15,800 compensation and benefits managers in 2016. The largest employers of these professionals were:
- Management of companies and enterprises: 24%
- Professional, scientific, and technical services: 13%
- Government: 10%
- Insurance carriers and related activities: 9%
- Healthcare and social assistance: 8%
How to Become
Usually, benefits managers are expected to hold a bachelor’s degree with a major in business or related field. Some organizations are now looking for those who have a master’s degree in human resources or business instead. It is also expected that business managers have a good understanding of computers and systems and that they are committed to keeping their knowledge up to date in relation to the regulatory environment of employee compensation and health care laws.
Education Requirements
Benefits managers usually need a bachelor’s degree in a field such as business administration, human resources, finance, or business management. Work experience is also essential. Usually, they enter the workplace as administrators for compensation and benefits, and then choose to specialize in one of those two areas.
See 10 Best Human Resources Management Degree
There is no legal requirement for these professionals to become certified. However, certification is generally appreciated by employers as it demonstrates commitment to excellence. There are also some positions that do require certification. Someone usually has to have a number of years’ experience before they can become certified through associations such as WorldatWork, the International Foundation of Employee Benefit Plans, and the HR Certification Institute.
Traits & Qualities
The most effective benefits managers have the following traits to some degree or other:
- Strong analytical skills
- Excellent business skills
- Great communication skills, both verbal and written
- Strong business skills
- Excellent decision making skills
- Great leadership skills
Minimum Education
Bachelor’s Degree
The national average salary estimate for Benefits Manager was $74,059. This number is estimated from over 314,824 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $38.57 and monthly of $6,172.
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$25,000
$149,000
The following section lists Benefits Manager salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Connecticut had the largest quoted salary of $92,562 while West Virginia had the smallest quoted salary of $50,000.
According to Indeed.com, the following states had employers looking to hire a Benefits Manager. The quoted salary figure represents the average salary from all job postings by this employer.
| Employer Name | Location | Average Salary |
|---|---|---|
| Bain Search Group | California | $130,000 |
| Department of Veterans Affairs | Texas | $117,309 |
| The Judge Group | Tennessee | $116,096 |
| Robert Half Finance & Accounting | Maryland | $113,885 |
| The laSalle Network | Illinois | $112,013 |
| Green Key Resources | Connecticut | $111,812 |
| Parker and Lynch | New York | $110,780 |
| Accounting Career Network | Virginia | $107,239 |
| Mackey & Guasco Staffing LLC | Connecticut | $105,853 |
| Willmott & Associates | Massachusetts | $104,892 |
| HR Personnel Services | California | $104,370 |
| Kforce Finance and Accounting | Florida | $104,368 |
| The University of Vermont Medical Center | Vermont | $104,070 |
| WholePoint Systems | Virginia | $100,000 |
| Reflik, Inc. | Massachusetts | $100,000 |
| Execu|Search | New York | $94,031 |
| Robert Half | Illinois | $93,837 |
| Beacon Hill Staffing | Massachusetts | $93,585 |
| ACT 1 | California | $92,747 |
Learn More
- Compensation and Benefits Managers : Occupational Outlook …
- 11-3111.00 – Compensation and Benefits Managers
- Benefits Manager – Children’s Healthcare of Atlanta (CHOA)
| Career Name | Average Salary |
|---|---|
| Investment Consultant | $76,236 |
| Investment Analyst | $76,199 |
| Technical Analyst | $76,186 |
| Real Estate Manager | $76,119 |
| Business Development Manager | $75,226 |
| Information Technology Specialist | $73,668 |
| Systems Analyst | $72,715 |
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| Management Analyst | $72,076 |
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