Career Opportunities - Home
Career Profiles

Compensation Manager

Career Highlights

  • Manage a company’s benefits program
  • Manage fair and equitable pay rates
  • Great compensation program attract the best candidates

This is Print View - Back to Normal View

Career Summary

Compensation managers research different employee benefit plans, benefits and job classification such as 401K, job descriptions or a stock options program. They may specialize in specific areas such as position classifications or pay studies. Compensation managers maintain compensation databases, and coordinates annual performance reviews.

Establishing and maintaining a firm's salary and benefits system is the principal job of the compensation manager. Assisted by personnel staff assistants, compensation managers plan ways to ensure fair and equitable pay rates. They may conduct surveys to see how their rates compare with other employers and to see that the firm's pay scale complies with changing laws and regulations.

As compensation specialists advance in their careers, the tasks become more strategic and less administrative. Senior compensation specialists create and manage compensation plans to directly link performance and company goals with pay, including sales incentive pay plans and executive compensation.

A great compensation program will attract the right career candidates, reward good job ethics and retain valuable employees. Additionally, the compensation professional is in charge of making sure the compensation costs are aligned with the business culture, objectives and budgets.

A international compensation manager works with the international personnel manager, business managers, and executives to resolve global issues. They research, develop and put together international compensation plans by country.

Workers' compensation manager designs, plans, and puts into practice a company's compensation program, policies, and procedures. They perform on-site evaluation and prepare compensation and benefits analyses for the claims.

Compensation managers have many skills that inter mingle with human resources. However their career is more specialized with employees and their environment and salary. They often coordinate employees transferring from one state to anther or an international transfer; they manage employee pension plans, assist with performance planning and appraisal systems and sometimes help with job evaluations.

Salary

$60000*

Education

Requires a degree in

  • Human Resources
  • Human Resource Management
  • Business Administration

Career Skills

  • Detail-orientation
  • Exceptional communication skills
  • Managerial skills
  • Discretion and ethical orientation
  • Technical skills

Additional Information

References

Comments

There are no comments on this post.

Add a Comment

Allowed tags are: a, b, em, i, p, strong, u; Line breaks are converted automatically.

Suggestions

Title

*Salary ranges based on location, experience, and demand. This number represents a rough nation-wide average.