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
- Compensation Managers
- Benefits Managers
- Directors of Compensation
- Compensation and Benefits Managers
- Benefits Advisors
- Payroll and Benefits Managers
- Field Reimbursement Managers
- Human Resources Benefits Analysts
- Directors of Benefits
- Global Benefits Managers
- Directors of Compensation and Benefits
- 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: 24.7%
- Agencies, Brokerages, and Other Insurance Related Activities: 9.9%
- Management, Scientific, and Technical Consulting Services: 4.4%
- Employment Services: 4.3%
- Computer Systems Design and Related Services: 4.1%
- Local Government, Excluding Education and Hospitals: 4.1%
- Other: 48.5%
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 2022, about 24.7% of all jobs for compensation managers were found there.
Other top industries by percentage include Agencies, Brokerages, and Other Insurance Related Activities (9.9%), Management, Scientific, and Technical Consulting Services (4.4%), Employment Services (4.3%), Computer Systems Design and Related Services (4.1%) and Local Government, Excluding Education and Hospitals (4.1%).
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Degree Options for Compensation Managers
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- Class Type: 100% online
- Years To Complete: 3
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- Class Type: 100% online
- Months To Complete: 14
- Accreditation: IACBE
- Placement Tests: GMAT/GRE not required for admission
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 23,698 job postings
Top 5 Specialized Skills for Compensation Managers
| Skills | Postings | % of Total Postings |
|---|---|---|
| Finance | 5,616 | 24% |
| Project Management | 5,209 | 22% |
| Auditing | 4,558 | 19% |
| Human Resources Information System (HRIS) | 4,049 | 17% |
| Accounting | 2,899 | 12% |
Top 5 Common Skills for Compensation Managers
| Skills | Postings | % of Total Postings |
|---|---|---|
| Communications | 12,916 | 55% |
| Management | 10,902 | 46% |
| Leadership | 9,402 | 40% |
| Microsoft Excel | 6,594 | 28% |
| Detail Oriented | 5,091 | 21% |
Based on 23,698 job postings related to compensation managers, finance was the top specialized skill sought by employers, with 24% of all postings looking for that skillset. Skills for project management, auditing, human resources information system (hris), accounting and data analysis were also highly sought.
As for common skills, communications was the most desired skill found in job postings for compensation managers, followed by management, leadership, microsoft excel, detail oriented and customer service.
| Skill | Postings | % of Total Postings |
|---|---|---|
| Finance | 5,616 | 24% |
| Project Management | 5,209 | 22% |
| Auditing | 4,558 | 19% |
| Human Resources Information System (HRIS) | 4,049 | 17% |
| Accounting | 2,899 | 12% |
| Data Analysis | 2,421 | 10% |
| Benefits Enrollment Processes | 2,412 | 10% |
| Marketing | 2,325 | 10% |
| Process Improvement | 2,270 | 10% |
| Workday (Software) | 2,268 | 10% |
| Benefits Administration | 2,173 | 9% |
| Compensation Strategy | 1,941 | 8% |
| Billing | 1,817 | 8% |
| Benchmarking | 1,750 | 7% |
| Business Strategies | 1,562 | 7% |
| Employee Retirement Income Security Act | 1,527 | 6% |
| Change Management | 1,395 | 6% |
| Human Resource Management | 1,358 | 6% |
| Workflow Management | 1,251 | 5% |
| Workers' Compensation | 1,195 | 5% |
| Skill | Postings | % of Total Postings |
|---|---|---|
| Communications | 12,916 | 55% |
| Management | 10,902 | 46% |
| Leadership | 9,402 | 40% |
| Microsoft Excel | 6,594 | 28% |
| Detail Oriented | 5,091 | 21% |
| Customer Service | 4,875 | 21% |
| Operations | 4,708 | 20% |
| Problem Solving | 4,700 | 20% |
| Presentations | 4,631 | 20% |
| Planning | 4,410 | 19% |
| Microsoft PowerPoint | 4,369 | 18% |
| Writing | 3,996 | 17% |
| Microsoft Office | 3,972 | 17% |
| Sales | 3,914 | 17% |
| Influencing Skills | 3,544 | 15% |
| Research | 3,272 | 14% |
| Analytical Skills | 3,015 | 13% |
| Interpersonal Communications | 2,937 | 12% |
| Innovation | 2,743 | 12% |
| Coordinating | 2,728 | 12% |
Most In-Demand Jobs for Compensation Managers
Top 5 Posted Job Titles
| Job Title | Postings | % of Total Postings |
|---|---|---|
| Compensation Managers | 7,244 | 21.7% |
| Benefits Managers | 6,086 | 18.2% |
| Directors of Compensation | 3,113 | 9.3% |
| Compensation and Benefits Managers | 1,890 | 5.7% |
| Benefits Advisors | 2,096 | 6.3% |
According to job postings that were published between September 2021 and August 2022, the top job sought by employers was compensation managers, with 3,437 unique job postings. Benefits managers were second, with 1,454 postings, followed by directors of compensation, compensation and benefits managers and benefits advisors.
Expand the section below to see unique job postings for all occupations related to compensation managers.
| Job Title | Postings | % of Total Postings |
|---|---|---|
| Compensation Managers | 7,244 | 21.7% |
| Benefits Managers | 6,086 | 18.2% |
| Directors of Compensation | 3,113 | 9.3% |
| Compensation and Benefits Managers | 1,890 | 5.7% |
| Benefits Advisors | 2,096 | 6.3% |
| Payroll and Benefits Managers | 1,270 | 3.8% |
| Field Reimbursement Managers | 1,060 | 3.2% |
| Human Resources Benefits Analysts | 1,024 | 3.1% |
| Directors of Benefits | 1,395 | 4.2% |
| Global Benefits Managers | 530 | 1.6% |
| Directors of Compensation and Benefits | 886 | 2.7% |
| Reimbursement Managers | 806 | 2.4% |
| Global Compensation Managers | 604 | 1.8% |
| Directors of Executive Compensation | 937 | 2.8% |
| Compensation Program Managers | 817 | 2.4% |
| Employee Benefits Account Managers | 890 | 2.7% |
| Directors of Reimbursement | 864 | 2.6% |
| Executive Compensation Managers | 552 | 1.7% |
| Incentive Compensation Analysts | 506 | 1.5% |
| Workers' Compensation Managers | 794 | 2.4% |
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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