How much does a Compensation Manager make?
A Compensation Manager oversees the design and implementation of employee pay and benefits. This role involves ensuring fairness and competitiveness in compensation packages. Compensation Managers often work in human resources departments, making this a key position for those interested in HR.
According to recent data, Compensation Managers earn an average yearly salary of $158,786. This range can vary based on experience, location, and industry. Entry-level managers may start around $75,000, while those with more experience can earn over $240,000. Factors such as company size and geographic region can also impact salary levels. For instance, those working in tech hubs often receive higher compensation.
If you're considering a career in compensation management, it’s clear that the role offers substantial earning potential. With the right experience and skills, Compensation Managers can advance to higher salaries and more senior roles.
What are the highest paying cities for a Compensation Manager?
-
Los Angeles, CA
Average Salary: $200,549
In Los Angeles, a thriving hub for diverse industries, professionals enjoy dynamic work environments. Companies such as Amazon and Google offer rewarding opportunities in compensation management. The city's fast-paced lifestyle matches the energy of its workforce, making it an exciting place for career growth.
Find Compensation Manager jobs in Los Angeles, CA
-
San Francisco, CA
Average Salary: $185,357
San Francisco, a center for tech innovation, presents unique challenges and opportunities for compensation managers. With major firms like Apple and Salesforce, one can expect a competitive yet collaborative environment. The city’s focus on tech and finance makes it ideal for those passionate about managing compensation in a rapidly evolving market.
Find Compensation Manager jobs in San Francisco, CA
-
Detroit, MI
Average Salary: $179,480
In Detroit, known for its automotive industry, compensation managers work in a city with a strong manufacturing base. Companies like General Motors offer stability and growth potential. The city’s industrial roots provide a solid foundation for those looking to excel in compensation management.
Find Compensation Manager jobs in Detroit, MI
-
San Jose, CA
Average Salary: $177,805
San Jose, the heart of Silicon Valley, offers a vibrant tech scene for compensation managers. With leading firms such as Intel and PayPal, professionals enjoy a high-stakes, fast-paced environment. The city’s innovation-driven culture makes it an exciting place to advance a career in compensation management.
Find Compensation Manager jobs in San Jose, CA
-
Pittsburgh, PA
Average Salary: $176,230
Pittsburgh combines industrial heritage with modern opportunities for compensation managers. Companies like UPMC and PNC Bank provide a mix of stability and innovation. The city's diverse economy offers a balanced environment for career growth in compensation management.
Find Compensation Manager jobs in Pittsburgh, PA
-
Hartford, CT
Average Salary: $174,307
Hartford, known as the insurance capital of the world, offers a unique environment for compensation professionals. Firms like Aetna and Travelers bring a focus on financial stability. The city’s strong insurance industry provides a solid backdrop for a rewarding career in compensation management.
Find Compensation Manager jobs in Hartford, CT
-
Miami, FL
Average Salary: $170,003
Miami, a bustling city with a diverse economy, offers a vibrant setting for compensation managers. Companies like Bank of America and Carnival Corporation present dynamic opportunities. The city’s lively atmosphere matches the energy of its business sector, making it an exciting place to work.
Find Compensation Manager jobs in Miami, FL
-
Boston, MA
Average Salary: $169,459
Boston, a hub for education and technology, provides a rich environment for compensation managers. With firms like Fidelity Investments and Biogen, professionals enjoy a mix of tradition and innovation. The city’s academic and business landscapes make it ideal for career advancement in compensation management.
Find Compensation Manager jobs in Boston, MA
-
Minneapolis, MN
Average Salary: $167,628
In Minneapolis, known for its friendly atmosphere, compensation managers find opportunities in a variety of sectors. Companies like Target and 3M offer stability and growth. The city’s balanced approach to business and lifestyle creates a supportive environment for career development.
Find Compensation Manager jobs in Minneapolis, MN
-
Oklahoma City, OK
Average Salary: $167,442
Oklahoma City, with its growing tech sector, offers exciting prospects for compensation managers. Companies like Devon Energy and Paycom Software provide diverse opportunities. The city’s expanding economy offers a promising landscape for those entering or advancing in compensation management.
Find Compensation Manager jobs in Oklahoma City, OK
What are the best companies a Compensation Manager can work for?
-
KPMG
Average Salary: $229,659
KPMG offers top compensation for Compensation Managers. This global leader in consulting helps clients with tax, audit, and advisory services. They have offices in over 150 countries. KPMG seeks experienced professionals for key locations, including New York, London, and Singapore.
-
Rsm
Average Salary: $218,595
Rsm provides a competitive salary for Compensation Managers. Rsm is one of the largest publicly held accounting firms in the U.S. They offer audit, tax, and consulting services. Opportunities for Compensation Managers are available in major cities like Chicago, Dallas, and San Francisco.
-
Accenture
Average Salary: $208,790
Accenture pays well for Compensation Managers. This multinational professional services company offers management consulting, technology, and outsourcing services. They have a global presence with offices in over 50 countries. They need skilled professionals in cities like Toronto, Mumbai, and Sydney.
-
Marsh McLennan
Average Salary: $192,053
Marsh McLennan offers an attractive salary for Compensation Managers. They are a global professional services firm specializing in risk, strategy, and people. Marsh McLennan operates in over 70 countries. They seek talent for their offices in cities like New York, London, and Hong Kong.
-
Abbott
Average Salary: $159,667
Abbott provides good compensation for Compensation Managers. Abbott is a healthcare company focused on nutrition, diagnostics, and branded generic pharmaceuticals. They operate worldwide. They look for experienced professionals in cities like Chicago, Los Angeles, and Paris.
-
Cox Communications Inc.
Average Salary: $159,331
Cox Communications Inc. offers a competitive salary for Compensation Managers. This company provides cable, communications, and home automation services. They serve customers in the U.S. They need skilled professionals in cities like Atlanta, Phoenix, and Dallas.
-
Edward Jones
Average Salary: $149,386
Edward Jones pays well for Compensation Managers. They offer financial services and investments. Operating nationwide in the U.S., Edward Jones looks for qualified professionals in cities like St. Louis, Des Moines, and Charlotte.
-
Riveron
Average Salary: $146,000
Riveron provides a strong salary for Compensation Managers. This global executive search firm helps companies find top talent. They operate in multiple countries. They seek professionals for their offices in cities like London, New York, and Shanghai.
-
T-Mobile
Average Salary: $133,658
T-Mobile offers a good salary for Compensation Managers. They are a leading telecommunications company. They provide mobile services in the U.S. They need skilled professionals in cities like Bellevue, New York, and San Diego.
-
Robert Half
Average Salary: $128,100
Robert Half offers a competitive salary for Compensation Managers. They specialize in staffing and workforce solutions. They operate in over 40 countries. They look for professionals in cities like Los Angeles, Chicago, and Sydney.
How to earn more as a Compensation Manager?
Becoming a Compensation Manager involves more than overseeing salary structures and benefits. It requires strategic planning and expertise. Compensation Managers who wish to earn more can focus on several key factors. These strategies not only enhance their value but also increase their earning potential.
Firstly, gaining relevant certifications can significantly boost a Compensation Manager’s credentials. Certifications such as the Certified Compensation Professional (CCP) or the Total Compensation Analyst (TCA) demonstrate a deep understanding of compensation strategies. These qualifications can set Compensation Managers apart from their peers. They can lead to higher-paying positions and promotions.
Secondly, expanding experience in different industries can make a Compensation Manager more versatile. Each industry has unique compensation practices and challenges. Experience in multiple sectors allows managers to bring diverse insights to their role. This versatility often translates to higher compensation packages.
- Certifications: Obtain certifications like CCP or TCA.
- Industry Experience: Work in various industries to gain diverse insights.
- Data Analysis Skills: Master data analysis to drive compensation strategies.
- Leadership Skills: Develop strong leadership abilities to manage teams effectively.
- Networking: Build a strong professional network within the industry.
