Compensation & benefits managers

Detailed Occupation

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2021 Workforce

19.6k

Average Age

45.8

Estimated Job Growth

2.22%

10-year projection

Average Salary

$98,001

Average Male Salary

$131,424

Average Female Salary

$87,205

About

Compensation & benefits managers are most often employed by the Insurance carriers industry. The average yearly wage for Compensation & benefits managers was $98,001 in 2021.

The locations that employ the most Compensation & benefits managers are Farragut Town PUMA, TN, Forest Acres City & Dentsville PUMA, SC, and Lyndhurst, Mayfield Heights, Shaker Heights & Solon Cities PUMA, OH. The locations with a relatively high concentration of Compensation & benefits managers are Farragut Town PUMA, TN, Lyndhurst, Mayfield Heights, Shaker Heights & Solon Cities PUMA, OH, and Forest Acres City & Dentsville PUMA, SC.

Management occupations Management, business, & financial occupations Management, business, science, & arts occupations

Employment and salary information for the Compensation & benefits managers workforce. Compensation & benefits managers workforce in 2021 was 19,644 people, of which 75.6% were women and 24.4% were men. Compensation & benefits managers are paid most in Lyndhurst, Mayfield Heights, Shaker Heights & Solon Cities PUMA, OH but are relatively concentrated in Farragut Town PUMA, TN.

Employment Over Time

Metric

Grouping

4,796

Male Workforce

± 1.7k

14,848

Female Workforce

± 2.99k

The Compensation & benefits managers workforce in 2021 was 19,644 people (75.6% women and 24.4% men). This implies an average annual growth of 25.3% between 2014 (15,672) and 2021 (19,644).

Employment by Location

Level

Metric

This map shows the states in the United States shaded by average wage for Compensation & benefits managers.

During 2021, the states that concentrated the best average annual wage were California ($149,544), New Jersey ($131,406), and Colorado ($131,302).

Yearly Wage Ranking

$98,001

AVERAGE WAGE

#54 in the ranking (2021)

$59,596

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2021, Compensation & benefits managers earned an average of $98,001, $38,406 more than the average national salary of $59,596

The graph shows the ranking of Compensation & benefits managers in relation to all Detailed Occupation in 2021.

Wage Distribution

Gender

0.346

WAGE GINI

In 2021, Compensation & benefits managers had a wage GINI coefficient of 0.346, which is lower than the national average of 0.478. In other words, wages are distributed more evenly for Compensation & benefits managers (shown in red) than for the overall labor force (shown in gray).

The graphic shows the distribution of average salaries by buckets for Compensation & benefits managers compared to the entire workforce in the country.

Industry

Information on the industries that employ Compensation & benefits managers and on wages for those in the field. Insurance carriers is the industry that employs the most Compensation & benefits managers, both by share and by number, though the highest paid industry for Compensation & benefits managers, by average wage, is Motion pictures & video industries ($211,745).

Occupations by Industries

Metric

Value

19.6k

2021 Workforce

± 3,441

2.77%

1 YEAR GROWTH

± 24.3%

This graphic shows the share of Compensation & benefits managers employed by various industries. Insurance carriers employs the largest share of Compensation & benefits managers at 46.8%, followed by Agencies, brokerages, and other insurance related activities with 28.5% and Management, scientific & technical consulting services with 24.8%.

Diversity

Demographic information on Compensation & benefits managers in the US. The workforce of Compensation & benefits managers in 2021 was 19,644 people, with 75.6% woman, and 24.4% men. The average age of male Compensation & benefits managers in the workforce is 44.5 and of female Compensation & benefits managers is 46.3, and the most common race/ethnicity for Compensation & benefits managers is White.

Gender and Age

Metric

The workforce of Compensation & benefits managers in 2021 was 19,644 people, with 75.6% woman, and 24.4% men.

The age ranges that concentrated the largest workforce were 45 to 49 years (3,667 people), 50 to 54 years (2,783 people), and 40 to 44 years (2,738 people). Among them they concentrated 47.8% of the total workforce.

Ethnicity

Gender

In 2021, 12.5% of Compensation & benefits managers workers were Hispanic and 87.5% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (51.2%) and Puerto Rican (48.8)%

You can review this information by gender using the selectors above.

Races

In 2021, 76.4% of the Compensation & benefits managers workforce were White, of which 75.9% were women and 24.1% men. Other races that concentrated a significant number of workers were Black (11.3%) and Two or More Races (5.09%).

Education & Skills

Data on higher education choices for Compensation & benefits managers from The Department of Education and Census Bureau. The most common major for Compensation & benefits managers is Business but the most specialized major according to RCA in 2021 were Business.

Among the necessary skills for Compensation & benefits managers, Active Listening stands, but the revealed comparative advantage (RCA) shows that Compensation & benefits managers need more than the average amount of Management of Financial Resources.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

Type of Majors

Degree

The most common majors achieved by Compensation & benefits managers in 2021 (counting all academic degrees) were Business (6,221 people), Psychology (1,385 people), and Social Sciences (1,051 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Compensation & benefits managers workers were Bachelors Degree (9,487 people), Graduate Degree (3,940 people), and Some college (2,953 people).

The graphic shows the Compensation & benefits managers workforce by gender and educational level.

Skills

Chart

Value

Data on the critical and distinctive skills necessary for Compensation & benefits managers from the Bureau of Labor Statistics. Compensation & benefits managers need many skills, but most especially Active Listening, Reading Comprehension, Speaking.

Projections

Projections on job growth for Compensation and Benefits Managers from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 3.71%, but Compensation and Benefits Managers are expected to see a growth of 2.22% over the same period. This occupation is expected to grow less than the national average.

Job Growth

For growth projections, the closest comparible industry reported by the Bureau of Labor Statistics is Compensation and Benefits Managers.

2.22%

Estimated Job Growth

10-year Projection

3.71%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Compensation & benefits managers. This profession is expected to grow less than than 3.71%, the average rate of national job growth.