How much does a Compensation Manager make?
Compensation Managers play a key role in ensuring that employees are paid fairly. They analyze salary data and create pay plans. This job is important and comes with a good salary. The average yearly salary for a Compensation Manager is around $143,077. This means that many people in this role earn a comfortable income.
The salary for Compensation Managers can vary based on experience and location. Some earn less, while others earn more. The lowest 10% earn about $70,738. The highest 10% earn over $272,500. This range shows that there are good opportunities for growth. As a Compensation Manager gains more experience, they can expect to earn more. This makes the job attractive for those looking to advance in their career.
What are the highest paying cities for a Compensation Manager?
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Los Angeles, CA
Average Salary: $192,216
Los Angeles offers a dynamic environment for professionals. Companies like Amazon and Google provide excellent opportunities. The cost of living is high, but so are the salaries.
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San Francisco, CA
Average Salary: $179,427
San Francisco is a tech hub with many opportunities. Companies such as Salesforce and LinkedIn are prominent. The salary is competitive, but so is the cost of living.
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San Jose, CA
Average Salary: $168,909
San Jose is known for its tech industry. Companies like Apple and Cisco offer great roles. The area has a high cost of living, but salaries are attractive.
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Hartford, CT
Average Salary: $166,000
Hartford provides a mix of industries. Companies like Aetna and United Technologies offer good positions. The cost of living is moderate, and salaries are reasonable.
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Detroit, MI
Average Salary: $164,455
Detroit is a city of innovation. Companies like Ford and General Motors offer many roles. The cost of living is lower, and salaries are competitive.
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Boston, MA
Average Salary: $161,054
Boston is rich in history and education. Companies like Biogen and Liberty Mutual offer good opportunities. The cost of living is high, but salaries are attractive.
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Seattle, WA
Average Salary: $159,931
Seattle is a tech-driven city. Companies like Microsoft and Amazon offer many roles. The cost of living is high, but salaries are competitive.
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Minneapolis, MN
Average Salary: $159,036
Minneapolis offers a mix of industries. Companies like Target and U.S. Bancorp offer good positions. The cost of living is moderate, and salaries are reasonable.
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San Diego, CA
Average Salary: $155,171
San Diego is known for its beautiful weather. Companies like Qualcomm and Scripps offer many roles. The cost of living is high, but salaries are competitive.
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St. Louis, MO
Average Salary: $151,176
St. Louis offers a mix of industries. Companies like Edward Jones and Centene Corporation offer good positions. The cost of living is lower, and salaries are competitive.
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What are the best companies a Compensation Manager can work for?
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Accenture
Average Salary: $230,500
Accenture offers competitive compensation for Compensation Managers. They work in various locations, including the United States, Europe, and Asia. Accenture focuses on technology and consulting services.
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Rsm
Average Salary: $218,383
Rsm provides attractive salaries for Compensation Managers. They operate in multiple cities across the United States. Rsm specializes in audit, tax, and consulting services.
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Marsh McLennan
Average Salary: $199,669
Marsh McLennan offers good compensation for Compensation Managers. They have offices worldwide, including the United States, Europe, and Asia. Marsh McLennan is a leader in insurance and risk management.
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Abbott
Average Salary: $182,000
Abbott provides a solid salary for Compensation Managers. They operate in many locations, including the United States, Europe, and Asia. Abbott is a global healthcare company.
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Deloitte
Average Salary: $174,841
Deloitte offers competitive pay for Compensation Managers. They have offices in numerous cities around the world. Deloitte is a top firm in audit, tax, and consulting services.
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AbbVie
Average Salary: $148,142
AbbVie provides a good salary for Compensation Managers. They operate in various locations, including the United States and Europe. AbbVie is a biopharmaceutical company.
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Riveron
Average Salary: $146,000
Riveron offers attractive compensation for Compensation Managers. They have offices in the United States and Europe. Riveron specializes in compensation management software.
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KPMG
Average Salary: $145,644
KPMG provides a solid salary for Compensation Managers. They operate in many cities worldwide. KPMG is a leading firm in audit, tax, and consulting services.
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Epsilon
Average Salary: $142,673
Epsilon offers competitive pay for Compensation Managers. They have offices in the United States and Europe. Epsilon is a marketing services company.
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Robert Half
Average Salary: $133,642
Robert Half provides a good salary for Compensation Managers. They operate in many locations, including the United States and Europe. Robert Half is a staffing firm.
How to earn more as a Compensation Manager?
A Compensation Manager plays a key role in ensuring that employees are paid fairly. This role can lead to a rewarding career with good earning potential. To maximize earnings, consider these factors:
First, gaining relevant experience is crucial. Experience in human resources or a related field can help. It shows employers that the manager understands compensation practices. Second, obtaining certifications can boost earnings. Certifications like the Certified Compensation Professional (CCP) add value. They demonstrate a commitment to the field. Third, staying updated on industry trends is important. Compensation laws and practices change. Keeping up ensures the manager can offer the best advice. Fourth, networking with other professionals can lead to job opportunities. Building a strong professional network can open doors to higher-paying roles. Lastly, seeking leadership roles can increase earnings. Managers who take on more responsibility often earn more.
Consider these factors to increase earnings as a Compensation Manager. With the right experience, certifications, and networking, a manager can achieve a higher salary.
- Gain relevant experience
- Obtain certifications
- Stay updated on industry trends
- Network with other professionals
- Seek leadership roles
