Compensation & benefits managers

About

Compensation & benefits managers are most often employed by the Insurance carriers industry. The average yearly wage for Compensation & benefits managers was $92,457 in 2016. The top 3 most similar occupations to Compensation & benefits managers by wage are Software quality assurance analysts and testers, Other Physical Scientists, and Industrial production managers.

Compensation & benefits managers are part of the Management occupations, along with General & operations managers, Chief executives & legislators, Advertising & promotions managers, Marketing managers, Sales managers, and 24 more.

The top 3 locations that employ the most Compensation & benefits managers are Louisville/Jefferson County (Southeast) PUMA, KY and Lyndhurst, Mayfield Heights, Shaker Heights & Solon Cities PUMA, OH. The top 3 locations with a relatively high concentration of Compensation & benefits managers are Louisville/Jefferson County (Southeast) PUMA, KY and Lyndhurst, Mayfield Heights, Shaker Heights & Solon Cities PUMA, OH.

Employment

Information on the businesses and industries that employ Compensation & benefits managers and on wages and locations 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 Electronic component & product manufacturing, n.e.c. . Compensation & benefits managers are paid most in Avon, Lake Villa, Antioch & Grant Townships PUMA, IL but are relatively concentrated in Louisville/Jefferson County (Southeast) PUMA, KY.

Yearly Wage

$92,457

AVERAGE SALARY

± $12,536

In 2020, Compensation & benefits managers earned an average of $92,457, $36,503 more than than the average national salary of $55,954.

Industrial production managers make somewhat more than Compensation & benefits managers while Software quality assurance analysts and testers make somewhat less. This chart shows the various occupations closest to Compensation & benefits managers as measured by average annual salary in the US.

Wage Distribution

0.333

WAGE GINI

In 2015, Compensation & benefits managers had a wage GINI coefficient of 0.333, which is lower than 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).

Wage by Location

HIGHEST PAYING PUMAS

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Compensation & benefits managers.

Spatial Concentration

PUMAs with a Relatively High Concentration of Compensation & benefits managers

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Compensation & benefits managers.

Most Common

The most common industries employing Compensation & benefits managers, by number of employees, are Insurance carriers, General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals, Agencies, brokerages, and other insurance related activities, Management, scientific & technical consulting services, Individual & family services, Executive offices & legislative bodies, Administration of human resource programs, Colleges, universities & professional schools, including junior colleges, Computer Systems Design, Securities, commodities, funds, trusts & other financial investments, and Banking & related activities.

Highest Paying

The highest paying industries for Compensation & benefits managers, by average wage, are Electronic component & product manufacturing, n.e.c. , Computer Systems Design, and Beverage manufacturing.

Industries by Share

19.1k

2020 Workforce

± 3,394

3.71%

1 YEAR GROWTH

± 24.4%

The number of people employed as Compensation & benefits managers has been growing at a rate of 3.71%, from 18,430 people in 2019 to 19,114 people in 2020.

This graphic shows the share of Compensation & benefits managers employed by various industries. Insurance carriers employs the largest share of Compensation & benefits managers at 10.1%, followed by General medical and surgical hospitals, and specialty (except psychiatric and substance abuse) hospitals with 5.16% and Agencies, brokerages, and other insurance related activities with 5.15%.

Diversity

Demographic information on Compensation & benefits managers in the US. The average age of male Compensation & benefits managers in the workforce is 43.8 and of female Compensation & benefits managers is 46.7, and the most common race/ethnicity for Compensation & benefits managers is White (Non-Hispanic).

Composition by Sex

4.49k

MALE WORKFORCE

± 1,645

14.6k

FEMALE WORKFORCE

± 2,969

76.5% of Compensation & benefits managers are Female, making them the more common sex in the occupation. This chart shows the sex breakdown of Compensation & benefits managers.

Race & Ethnicity

Most Common Race or Ethnicity of Compensation & benefits managers

White (Non-Hispanic)
Black (Non-Hispanic)
White (Hispanic)

70.7% of Compensation & benefits managers are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 12% of Compensation & benefits managers, Black (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Compensation & benefits managers.

Age by Sex

43.8

AVERAGE MALE AGE

± 3.86

46.7

AVERAGE FEMALE AGE

± 2.19

The median age of Compensation & benefits managers is 46, and Male employees are generally 2.89 years younger than than their Female counterparts.

Education

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 a relatively high number of Compensation & benefits managers hold a major in Business.

Majors

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

MOST COMMON MAJORS

MOST SPECIALIZED MAJORS

Skills

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, and Speaking. The revealed comparative advantage (RCA) shows that Compensation & benefits managers need more than the average amount of Management of Financial Resources, Operations Analysis, and Management of Personnel Resources.

Radar Distribution

Bar Chart

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 and Benefits Managers. This profession is expected to grow less than than 3.71%, the average rate of national job growth.

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