Benefits Administrator

Answer 1

A benefits administrator can expect a variety of tasks on any given day and a fast-paced schedule. Benefits administrators are, primarily, in charge of overseeing a company’s health care and retirement plans. More specifically, a benefits administrator is part counselor, part statistician, part salesman, part business analyst, and part teacher. A strong background in statistics enables a benefits administrator to determine which benefits plans are most suited to the company’s needs. A strong business administration background enables him to design a plan that fits the company’s finances. He will be required to present his ideas to the company’s management team for their approval and to the employees and/or employee unions for their approval much like a salesman. He will conduct seminars for the employees regarding the benefits to which they are entitled, much like a teacher. He will be called upon to resolve any disputes or issues with the skills and diplomacy of a counselor, always balancing the desires of the employees against the regulations that govern his benefits.

Required Education

At a minimum, a benefits administrator should possess a bachelor’s degree. Courses in English, public speaking, psychology, business administration, cost analysis, economics, and negotiation should be part of the core curriculum. While there is no certification to become a benefits administrator, continuing education in this field is vital as State and Federal regulations regarding employee benefits change, company requirements change, and employee needs change.

Salary and Projected Industry Growth

According to the US Department of Labor, Bureau of Labor Statistics, the median annual wage for a benefits administrator was $86,500 in May 2008, with the middle half of the administrators earning between $64,930 and $113,480. The lower ten percent of the administrators earned less than $49,350, and the higher ten percent earned more than $147,050. Payscale.com lists the average starting salary at $35,875. The Bureau of Labor Statistics anticipates a minimum growth of 22% in this field between 2008 and 2018 due to legislative changes, court rulings, and rising healthcare costs.

Answer 2

A benefits administrator can expect a variety of tasks on any given day and a fast-paced schedule. Benefits administrators are, primarily, in charge of overseeing a company’s health care and retirement plans. More specifically, a benefits administrator is part counselor, part statistician, part salesman, part business analyst, and part teacher. A strong background in statistics enables a benefits administrator to determine which benefits plans are most suited to the company’s needs. A strong business administration background enables him to design a plan that fits the company’s finances. He will be required to present his ideas to the company’s management team for their approval and to the employees and/or employee unions for their approval much like a salesman. He will conduct seminars for the employees regarding the benefits to which they are entitled, much like a teacher. Furthermore, he will be called upon to resolve any disputes or issues with the skills and diplomacy of a counselor, always balancing the desires of the employees against the regulations that govern his benefits.

Required Education

At a minimum, a benefits administrator should possess a bachelor’s degree. Courses in English, public speaking, psychology, business administration, cost analysis, economics, and negotiation should be part of the core curriculum. While there is no certification to become a benefits administrator, continuing education in this field is vital as State and Federal regulations regarding employee benefits change, company requirements change, and employee needs change.

Salary and Projected Industry Growth

According to the US Department of Labor, Bureau of Labor Statistics, the median annual wage for a benefits administrator was $86,500 in May 2008, with the middle half of the administrators earning between $64,930 and $113,480. The lower ten percent of the administrators earned less than $49,350, and the higher ten percent earned more than $147,050. Payscale.com lists the average starting salary at $35,875. The Bureau of Labor Statistics anticipates a minimum growth of 22% in this field between 2008 and 2018 due to legislative changes, court rulings, and rising healthcare costs.