The Salary of a Payroll & Benefits Manager
Payroll and benefits managers administer the compensation and benefits programs, such as insurance, of their hiring employers. A bachelor's degree is the typical minimum requirement, though many educational institutions do not offer human resources programs until the graduate level. Certification is available from national organizations, which can increase employability and salaries.
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Work
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Payroll and benefits managers typically work in clean and comfortable offices, though they may travel to various branch offices if they are in charge of large corporate departments with many facilities. They normally work standard 40-hour weeks except during busy periods when overtime may be needed. As of May 2009, their median salary was $88,050 yearly with a range of $50,590 to $148,390. This breaks down to $42.33 per hour with a range of $24.32 to $71.34. All figures are according to the Bureau of Labor Statistics.
Employers
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The biggest employers of payroll and benefits managers were organizations that take over the management of other companies. They comprised 6,120 out of the total 35,630 positions and paid a mean $50.70 per hour or $105,460 per year. The highest-paying employers were computer and peripheral equipment manufacturers with means at $62.04 per hour and $129,050 per year for 160 positions. Still among the top five for pay were scientific research and development services with lower means at $57.02 per hour and $118,590 per year but higher employment with 670 jobs.
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Geography
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The state with the highest salaries for payroll and benefits managers was Rhode Island, offering means at $65.33 per hour and $135,900 per year for only 90 positions. Still among the top five for pay, New York had lower means at $54.17 per hour and $112,670 a year, but far greater employment with 3,260 jobs. As for cities, San Jose, California, led with means of $68.02 per hour and $141,480 per year for 390 jobs. Still among the top five payers was Minneapolis, Minnesota, with medians at $58.29 per hour and $121,250 per year for 410 jobs.
Outlook
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The BLS projects jobs for payroll and benefits managers increasing at 9 percent from 2008 to 2018, which is about average for all professions. Population growth as well as human resources legislation will form much of the demand. The best opportunities will go to those with bachelor's degrees and certification. Employment can depend on general economic conditions, business cycles and the staffing needs of the hiring employers.
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References
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