Compensation & benefits managers

Detailed Occupation

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2022 Workforce

20.6k

Average Age

46.2

Estimated Job Growth

1.71%

10-year projection

Average Salary

$108,056

Average Male Salary

$147,776

Average Female Salary

$95,777

About

Compensation & benefits managers are most often employed by the Insurance carriers industry. The average yearly wage for Compensation & benefits managers was $108,056 in 2022.

The locations that employ the most Compensation & benefits managers are Knox County (Northwest) PUMA, TN, Cuyahoga County (East)--Shaker Heights, Solon, Mayfield Heights & Lyndhurst Cities PUMA, OH, and Lake County (East Central)--Warren, Shields & Libertyville (North & West) Townships PUMA, IL. The locations with a relatively high concentration of Compensation & benefits managers are Knox County (Northwest) PUMA, TN, Cuyahoga County (East)--Shaker Heights, Solon, Mayfield Heights & Lyndhurst Cities PUMA, OH, and Lake County (East Central)--Warren, Shields & Libertyville (North & West) Townships PUMA, IL.

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 2022 was 20,622 people, of which 76.4% were women and 23.6% were men. Compensation & benefits managers are paid most in Lake County (East Central)--Warren, Shields & Libertyville (North & West) Townships PUMA, IL but are relatively concentrated in Knox County (Northwest) PUMA, TN.

Employment Over Time

Metric

Grouping

4,870

Male Workforce

± 1.71k

15,752

Female Workforce

± 3.08k

The Compensation & benefits managers workforce in 2022 was 20,622 people (76.4% women and 23.6% men). This implies an average annual growth of 31.3% between 2014 (15,701) and 2022 (20,622).

Employment by Location

Level

Metric

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

During 2022, the states that concentrated the best average annual wage were California ($151,425), New Jersey ($144,310), and Minnesota ($138,151).

Yearly Wage Ranking

$108,056

AVERAGE WAGE

#49 in the ranking (2022)

$64,683

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2022, Compensation & benefits managers earned an average of $108,056, $43,374 more than the average national salary of $64,683

The graph shows the ranking of Compensation & benefits managers in relation to all Detailed Occupation in 2022.

Wage Distribution

Gender

0.341

WAGE GINI

In 2022, Compensation & benefits managers had a wage GINI coefficient of 0.341, 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 ($228,350).

Occupations by Industries

Metric

Value

20.6k

2022 Workforce

± 3,525

4.98%

1 YEAR GROWTH

± 23.3%

This graphic shows the share of Compensation & benefits managers employed by various industries. Insurance carriers employs the largest share of Compensation & benefits managers at 40.6%, followed by Agencies, brokerages, and other insurance related activities with 33.7% and Individual & family services with 25.6%.

Diversity

Demographic information on Compensation & benefits managers in the US. The workforce of Compensation & benefits managers in 2022 was 20,622 people, with 76.4% woman, and 23.6% men. The average age of male Compensation & benefits managers in the workforce is 44.7 and of female Compensation & benefits managers is 46.6, and the most common race/ethnicity for Compensation & benefits managers is White.

Gender and Age

Metric

The workforce of Compensation & benefits managers in 2022 was 20,622 people, with 76.4% woman, and 23.6% men.

The age ranges that concentrated the largest workforce were 45 to 49 years (3,604 people), 50 to 54 years (2,987 people), and 35 to 39 years (2,635 people). Among them they concentrated 45.7% of the total workforce.

Ethnicity

Gender

In 2022, 12.2% of Compensation & benefits managers workers were Hispanic and 87.8% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (48.5%), Puerto Rican (46.2)%, and All Other Spanish/Hispanic/Latino (5.27)%

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

Races

In 2022, 74% of the Compensation & benefits managers workforce were White, of which 76.9% were women and 23.1% men. Other races that concentrated a significant number of workers were Black (11.5%) and Two or More Races (6.47%).

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 2022 were Business.

Among the necessary skills for Compensation & benefits managers, Reading Comprehension 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 2022 (counting all academic degrees) were Business (6,371 people), Psychology (1,405 people), and Social Sciences (1,261 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 (10,007 people), Graduate Degree (4,458 people), and Some college (2,671 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 Reading Comprehension, Active Listening, Writing.

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 2.84%, but Compensation and Benefits Managers are expected to see a growth of 1.71% 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.

1.71%

Estimated Job Growth

10-year Projection

2.84%

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 2.84%, the average rate of national job growth.