What Do Compensation Managers Do?
Wondering what the job is really like for compensation managers?
You've come to the right place.
Keep reading to find detailed information about what compensation managers do, including the type of work they are tasked with on a daily basis, industries in which they work, and the specific skills needed for a successful career.
Compensation Managers Overview & Description
Let's get started with the basics about compensation managers by taking a look at a simple description and popular job titles.
Compensation Managers plan, direct, or coordinate compensation and benefits activities of an organization. Job analysis and position description managers are included in Human Resources Managers (11-3121).
Popular Job Titles For Compensation Managers
Sample of Reported Job Titles
- Shift Managers
- Compensation Managers
- Field Reimbursement Managers
- Benefits Managers
- Employee Benefits Account Managers
- Directors of Compensation
- Total Rewards Managers
- Directors of Total Rewards
- Directors of Benefits
- Compensation and Benefits Managers
- Executive Compensation Managers
- Access and Reimbursement Managers
Read on for insight into the industries where the highest concentration of jobs for compensation managers can be found.
Best Industries for Compensation Managers
Compensation Managers Jobs By Industry
- Management of Companies and Enterprises: 25.5%
- Agencies, Brokerages, and Other Insurance Related Activities: 7.2%
- Management, Scientific, and Technical Consulting Services: 3.9%
- Computer Systems Design and Related Services: 3.6%
- Insurance Carriers: 3.6%
- Local Government, Excluding Education and Hospitals: 3.6%
- Other: 52.6%
When it comes to jobs in the United States, the largest single category of compensation managers can be found working in the Management of Companies and Enterprises sector. In 2023, about 25.5% of all jobs for compensation managers were found there.
Other top industries by percentage include Agencies, Brokerages, and Other Insurance Related Activities (7.2%), Management, Scientific, and Technical Consulting Services (3.9%), Computer Systems Design and Related Services (3.6%), Insurance Carriers (3.6%) and Local Government, Excluding Education and Hospitals (3.6%).
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What Do Compensation Managers Do on a Daily Basis?
So you have a high-level understanding of what compensation managers do and the types of industries in which they work - but what do they really do each day?
A great way to understand the type of work compensation managers do is to examine actual job postings and focus on the specific skills that employers are seeking. That will help paint a clearer picture of the tasks that compensation managers tackle each day.
Continue reading for a breakdown of specialized skills found in job postings for compensation managers, as well as common skills - interpersonal qualities and attributes - that can help you thrive in the workplace.
In-Demand Skills for Today's Compensation Managers
Based on 55,614 job postings
Top 5 Specialized Skills for Compensation Managers
| Skills | Postings | % of Total Postings |
|---|---|---|
| Project Management | 7,860 | 14% |
| Finance | 6,557 | 12% |
| Auditing | 5,759 | 10% |
| Marketing | 5,587 | 10% |
| Human Resources Information System (HRIS) | 3,919 | 7% |
Top 5 Common Skills for Compensation Managers
| Skills | Postings | % of Total Postings |
|---|---|---|
| Communication | 19,552 | 35% |
| Management | 16,627 | 30% |
| Leadership | 14,456 | 26% |
| Customer Service | 11,474 | 21% |
| Operations | 8,768 | 16% |
Based on 55,614 job postings related to compensation managers, project management was the top specialized skill sought by employers, with 14% of all postings looking for that skillset. Skills for finance, auditing, marketing, human resources information system (hris) and accounting were also highly sought.
As for common skills, communication was the most desired skill found in job postings for compensation managers, followed by management, leadership, customer service, operations and microsoft excel.
| Skill | Postings | % of Total Postings |
|---|---|---|
| Project Management | 7,860 | 14% |
| Finance | 6,557 | 12% |
| Auditing | 5,759 | 10% |
| Marketing | 5,587 | 10% |
| Human Resources Information System (HRIS) | 3,919 | 7% |
| Accounting | 3,863 | 7% |
| Billing | 3,261 | 6% |
| Process Improvement | 3,155 | 6% |
| Benefits Enrollment Processes | 3,022 | 5% |
| Data Analysis | 2,739 | 5% |
| Medicare | 2,519 | 5% |
| Medicaid | 2,501 | 4% |
| Benefits Administration | 2,498 | 4% |
| Workflow Management | 2,445 | 4% |
| Brand Management | 2,358 | 4% |
| Continuous Improvement Process | 2,076 | 4% |
| Workday (Software) | 2,072 | 4% |
| Compensation Strategy | 2,026 | 4% |
| Benchmarking | 2,006 | 4% |
| Employee Retirement Income Security Act | 1,974 | 4% |
| Skill | Postings | % of Total Postings |
|---|---|---|
| Communication | 19,552 | 35% |
| Management | 16,627 | 30% |
| Leadership | 14,456 | 26% |
| Customer Service | 11,474 | 21% |
| Operations | 8,768 | 16% |
| Microsoft Excel | 8,520 | 15% |
| Sales | 8,429 | 15% |
| Problem Solving | 8,198 | 15% |
| Detail Oriented | 7,535 | 14% |
| Presentations | 7,288 | 13% |
| Planning | 7,279 | 13% |
| Writing | 6,327 | 11% |
| Microsoft Office | 5,761 | 10% |
| Microsoft PowerPoint | 5,634 | 10% |
| Research | 5,028 | 9% |
| Interpersonal Communications | 4,858 | 9% |
| Influencing Skills | 4,404 | 8% |
| Organizational Skills | 3,871 | 7% |
| Verbal Communication Skills | 3,845 | 7% |
| Coordinating | 3,838 | 7% |
Most In-Demand Jobs for Compensation Managers
Top 5 Posted Job Titles
| Job Title | Postings | % of Total Postings |
|---|---|---|
| Shift Managers | 13,585 | 26.1% |
| Compensation Managers | 4,890 | 9.4% |
| Field Reimbursement Managers | 5,268 | 10.1% |
| Benefits Managers | 4,763 | 9.1% |
| Employee Benefits Account Managers | 4,391 | 8.4% |
According to job postings that were published between September 2022 and August 2023, the top job sought by employers was shift managers, with 2,143 unique job postings. Compensation managers were second, with 2,091 postings, followed by field reimbursement managers, benefits managers and employee benefits account managers.
Expand the section below to see unique job postings for all occupations related to compensation managers.
| Job Title | Postings | % of Total Postings |
|---|---|---|
| Shift Managers | 13,585 | 26.1% |
| Compensation Managers | 4,890 | 9.4% |
| Field Reimbursement Managers | 5,268 | 10.1% |
| Benefits Managers | 4,763 | 9.1% |
| Employee Benefits Account Managers | 4,391 | 8.4% |
| Directors of Compensation | 3,020 | 5.8% |
| Total Rewards Managers | 1,342 | 2.6% |
| Directors of Total Rewards | 1,517 | 2.9% |
| Directors of Benefits | 1,476 | 2.8% |
| Compensation and Benefits Managers | 1,866 | 3.6% |
| Executive Compensation Managers | 1,158 | 2.2% |
| Access and Reimbursement Managers | 1,442 | 2.8% |
| Benefits Account Managers | 1,067 | 2% |
| Human Resources Benefits Analysts | 1,470 | 2.8% |
| Employee Benefits Managers | 836 | 1.6% |
| Retirement Benefits Managers | 944 | 1.8% |
| Program Managers | 767 | 1.5% |
| Enrollment Managers | 776 | 1.5% |
| Gastroenterology Physicians/Gastroenterologists | 806 | 1.5% |
| Directors of Compensation and Benefits | 716 | 1.4% |
Additional Links
Ready to dig deeper into career information for compensation managers? Visit our other pages focused on salary and education for compensation managers.
How much do compensation managers make?
Compensation Managers: How do you become one?
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