How Much Do Retirement Plan Specialists Make?

Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary retirement plan specialists make, you've come to the right place.

Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for retirement plan specialists and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of retirement plan specialists are offering as compensation.

Keep reading to learn more about how much retirement plan specialists can expect to make in the United States.

At a Glance: Salary & Jobs for Retirement Plan Specialists

According to data from 2023, there were about 102,187 positions for retirement plan specialists in the United States. In terms of salary, the national median salary for retirement plan specialists was reported to be $74,526. Additionally, when examining job demand, employers across the country posted 116,963 job postings related to positions for retirement plan specialists.

How Much Money Do Retirement Plan Specialists Make?

Median salary is just one data point. To build a better understanding of how much money retirement plan specialists and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.

Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for retirement plan specialists.

Annual Salary for Retirement Plan Specialists

According to the BLS, the lowest earners for retirement plan specialists and related professions earned about $46,051 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $127,338 annually.

As mentioned previously, the median salary for retirement plan specialists in the United States in 2023 was $74,526.

Hourly Salary for Retirement Plan Specialists

The BLS also breaks down compensation for retirement plan specialists by hourly salary, and the median average hourly pay for retirement plan specialists in 2023 was $36. Lowest hourly earners took home $22 while the highest reported hourly salaries for retirement plan specialists was $61.

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Degree Options for Retirement Plan Specialists

Advertised Compensation for Retirement Plan Specialists

Data from the BLS is one way to dig into compensation for retirement plan specialists, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for retirement plan specialists.

Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™

Annual Salary from Job Postings for Retirement Plan Specialists

During a review of 109,906 job postings related to retirement plan specialists, advertised salary was included in 44,338 of them, which was 40%. Based on those postings, the median advertised salary for retirement plan specialists was $63,616 per year.

Hourly Salary from Job Postings for Retirement Plan Specialists

A similar analysis of job postings provides insight into advertised hourly salary for retirement plan specialists. Based on 38% of postings with advertised compensation, the median hourly salary for open positions for retirement plan specialists in the United States is about $31.

Salary Trend for Retirement Plan Specialists

If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for retirement plan specialists. The chart below provides a snapshot of advertised salaries over the past three years.

Based on compensation data that was included in job postings for retirement plan specialists dating back to September 2020, advertised salaries for retirement plan specialists have increased 22%.

What's the Job Growth for Retirement Plan Specialists?

Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for retirement plan specialists over the next 10 years.

According to the data obtained through Lightcast,™ there were 102,101 jobs for retirement plan specialists in the United States in 2023. By 2033, it is expected that about 12,073 jobs will be added. That's a 11.8% increase over the next 10-year period.

Additional Links

Ready to dig deeper into career information about retirement plan specialists? Visit our other pages focused on salary and education for retirement plan specialists.

What do retirement plan specialists do?
Retirement Plan Specialists: How do you become one?

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