Benefits Administration Career Path
According to the U.S. Bureau of Labor Statistics, the median annual salary of compensation and benefits managers in 2006 was approximately $75,000. The middle 50 percent earned between $55,000 and $100,000. The lowest 10 percent earned less than $43,000, and the highest 10 percent earned more than $132,000.
According to Payscale.com, an entry-level Benefits Specialist with no college degree would earn an hourly salary between $13 and $24 in the state of California in 2009. Salary.com calculates the national median annual income of a Benefits Administrator II at $47,118, and provides the following job description for the position:
“Benefits Administrator II: Administers and maintains company benefits programs. Functions as a liaison between vendors and employees and advises employees on eligibility, coverage, and other benefits matters. May require an associate’s degree or its equivalent and 2-4 years of experience in the field or in a related area.”
According to the Princeton Review, the number of Benefits Administration specialists in the United States is 50,000. Of these, 45% are female and 55% are male. Their average work week is 40 hours long, and their average starting salary is $51,000. After five years their salary increases to $65,000, and after 10 to 15 years their salary will have reached $79,000.
Depending on your educational background and professional certifications, it may take two to five of entry-level, assistant Human Resources staff work before you are able to move into the position of Benefits Administrator.
Benefits Administration candidates with backgrounds in technology, particularly information systems management, and those with legal backgrounds, will be highly sought after, as benefits plans become increasingly complex, and laws and regulations continually evolve.
Steps you can take to help smooth your transition or entry into a career in Benefits Administration include obtaining professional Benefits Administration certifications, and targeting your education toward specialty fields within Benefits Administration, such as Social Security disability benefits, veteran’s benefits, or mediation and arbitration.
Benefits Administration Salaries