Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Salary Information for Compensation Managers

Career News November 13, 2013

Compensation managers are sometimes grouped together with benefits managers, though these are two fields with different aims. Your job will be in planning, directing, and coordinating compensation packages for a company’s employees. You don’t represent them but work as the liaison between management and the workers, helping to discover new programs and ensure protection for retirement, health insurance and other benefits.

Wages and Salary Expectations

The median wage of compensation managers was just over $89,000 in 2010. However, some earners exceeded the median and earned over $151,000. The lowest ten percent earned $52,000. The overall growth of the profession was about three percent, slightly less than the average of all occupations. The cause for this was in recession, not to mention the alternative of outsourcing. This doesn’t mean that the position is nonexistent. Every company needs this position, and can find benefits in not keeping an internal compensation manager on staff.

The more experience and education an applicant has, the more he or she is expected to perform, and in this profession that means analysis, managerial support, department organization, and effective system planning for salary resources. This is a managing position that requires the discovering of new organizational techniques.

You are finding new ways to improve workflow, as well as bringing on technological advances. Sometimes a company determines pay by more job duties, such as evaluating jobs for grade and value, and eventually making decisions regarding salaries.

You may work with a benefits manager or assume that position, and spend more time developing salary increases, bonus awards, and ensure that the company’s practices are in compliance with federal wages and laws.

Different positions in the field have different salary ranges. Restaurant shift supervisors, for instance, only make $13,000 per year, and might be considered part time workers or independent consultants. Even a branch manager for a company can earn only $41,000. However, sales associate managers and regional sales executives can earn closer to $100,000.

Why a University Education Matters

Top brand companies require this level of expertise because they want to improve employee retention. The more companies invest in developing creative and modern packages for their valued workers, the fewer problems they have in “turnover”, or employees leaving the company for greener pastures.

A bachelor’s degree course, from a university such as UMCP, UCLA, University of Miami, and many others can provide you with the skills that companies are looking for. Taking a course in finance or business administration can prepare you for the job; however, staying the course and earning an MBA can open new doors. Statistically, more MBA graduates go on to find higher-paying salaries than bachelor’s degree graduates.

The larger the company, the higher the pay rate goes. Some of the most generous employers include NVIDIA, Morgan Stanley, Texas Instruments, and Equifax, who compensate their compensation managers quite well, starting a cycle of goodwill that spreads and builds a foundation of trust.

In the end, this creates a stronger company with a greater culture and employee loyalty. Be part of this solid company building by proving your educational background!

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Looking for an Online Business Degree Program That May Improve Your Career Options?
  • EarnMyDegree.com Can Help You Match Your Educational Goals With Your Desired Career.
  • Whether You Are Looking to Earn a Degree Online, or Study at a Nearby Campus, This Is The Place to Connect With a College That May Be Ideal for You.
  • Browse Through Our List Of Online Colleges and Traditional Schools to Determine Potential Places to Earn a Degree NOW!
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!