Career and Education Opportunities for Compensation and Benefits Managers in Bridgeport, Connecticut
There are many career and education opportunities for compensation and benefits managers in the Bridgeport, Connecticut area. There are currently 520 working compensation and benefits managers in Connecticut; this should grow 7% to 550 working compensation and benefits managers in the state by 2016. This is not quite as good as the nation as a whole, where employment opportunities for compensation and benefits managers are expected to grow by about 8.5%. In general, compensation and benefits managers plan, direct, or coordinate compensation and benefits activities and staff of an organization.
The income of a compensation and benefits manager is about $37 per hour or $78,650 yearly on average in Connecticut. In the U.S. as a whole, their income is about $41 hourly or $86,500 annually on average. Compared with people working in the overall category of Human Resources, people working as compensation and benefits managers in Connecticut earn more. They earn more than people working in the overall category of Human Resources nationally. Jobs in this field include: human resources information system director , business manager, and position classification manager.
There are five schools within twenty-five miles of Bridgeport where you can study to be a compensation and benefits manager, among seventy-five schools of higher education total in the Bridgeport area. The most common level of education for compensation and benefits managers is a Bachelor's degree. You can expect to spend about four years studying to be a compensation and benefits manager if you already have a high school diploma.
CAREER DESCRIPTION: Compensation and Benefits Manager
In general, compensation and benefits managers plan, direct, or coordinate compensation and benefits activities and staff of an organization.
Compensation and benefits managers analyze compensation policies and prevailing wage rates to develop competitive compensation plans. They also direct preparation and distribution of written and verbal data to inform employees of benefits and personnel policies. Equally important, compensation and benefits managers have to formulate and direct work efforts of subordinates and staff relating to employment and employee relations. They are often called upon to design methods to further optimize employment policies and practices, and recommend changes to management. They are expected to formulate policies, procedures and programs for recruitment orientation, benefits and compensation, and labor and industrial relations. Finally, compensation and benefits managers layout, evaluate and modify benefits policies to insure that programs are current, competitive and in adherence to legal requirements.
Every day, compensation and benefits managers are expected to be able to listen to and understand others in meetings. They need to read and understand documents and reports.
It is important for compensation and benefits managers to administer and review employee benefit programs, including the integration of benefit programs following mergers and acquisitions. They are often called upon to mediate between benefits providers and employees. They also ready budgets for personnel operations. They are sometimes expected to negotiate bargaining agreements. Somewhat less frequently, compensation and benefits managers are also expected to layout, evaluate and modify benefits policies to insure that programs are current, competitive and in adherence to legal requirements.
Compensation and benefits managers sometimes are asked to investigate and report on industrial accidents for insurance carriers. and maintain records and compile statistical reports concerning personnel-related data such as hires and absenteeism rates. And finally, they sometimes have to direct preparation and distribution of written and verbal data to inform employees of benefits and personnel policies.
Like many other jobs, compensation and benefits managers must have exceptional integrity and be thorough and dependable.
Similar jobs with educational opportunities in Bridgeport include:
- Administrator. Plan, direct, or coordinate supportive services of an organization, such as recordkeeping, mail distribution, telephone operator/receptionist, and other office support services. May oversee facilities planning and maintenance and custodial operations.
- Healthcare Manager. Plan, direct, or coordinate medicine and health services in hospitals, clinics, managed care organizations, public health agencies, or similar organizations.
- Human Relations Manager. Plan, direct, and coordinate human resource management activities of an organization to maximize the strategic use of human resources and maintain functions such as employee compensation, recruitment, and regulatory compliance.
- Postmaster. Direct and coordinate operational, administrative, and supportive services of a U.S. post office; or coordinate activities of workers engaged in postal and related work in assigned post office.
EDUCATIONAL OPPORTUNITIES: Compensation and Benefits Manager Training
University of Bridgeport - Bridgeport, CT
University of Bridgeport, 126 Park Avenue, Bridgeport, CT 06604-5620. University of Bridgeport is a medium sized university located in Bridgeport, Connecticut. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,323 students and an admission rate of 62%. University of Bridgeport has a bachelor's degree program in Labor and Industrial Relations which graduated three students in 2008.
Manhattanville College - Purchase, NY
Manhattanville College, 2900 Purchase St, Purchase, NY 10577. Manhattanville College is a small college located in Purchase, New York. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,950 students and an admission rate of 52%. Manhattanville College has a master's degree program in Human Resources Management/Personnel Administration which graduated twenty-five students in 2008.
Iona College - New Rochelle, NY
Iona College, 715 North Ave, New Rochelle, NY 10801-1890. Iona College is a small college located in New Rochelle, New York. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,375 students and an admission rate of 59%. Iona College has a master's degree and a post-master's certificate program in Human Resources Management/Personnel Administration which graduated nine and zero students respectively in 2008.
University of New Haven - West Haven, CT
University of New Haven, 300 Boston Post Road, West Haven, CT 06516. University of New Haven is a medium sized university located in West Haven, Connecticut. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,739 students and an admission rate of 68%. University of New Haven has 2 areas of study related to Compensation and Benefits Manager. They are:
- Human Resources Management/Personnel Administration, bachelor's degree and postbaccalaureate certificate which graduated zero and nine students respectively in 2008.
- Labor and Industrial Relations, master's degree which graduated 12 students in 2008.
Post University - Waterbury, CT
Post University, 800 Country Club Rd, Waterbury, CT 06723. Post University is a small university located in Waterbury, Connecticut. It is a private for-profit school with primarily 4-year or above programs. It has 1,687 students and an admission rate of 51%. Post University has a less than one year program in Human Resources Management/Personnel Administration.
Fundamental Payroll Certification: The Fundamental Payroll Certification (FPC) is open to all those who wish to demonstrate a baseline of payroll competency.
For more information, see the American Payroll Association website.
Manager of Quality/Organizational Excellence: The Certified Manager of Quality/Organizational Excellence is a professional who leads and champions process-improvement initiatives everywhere from small businesses to multinational corporations that can have regional or global focus in a variety of service and industrial settings.
For more information, see the American Society for Quality website.
Qualified 401(k) Administrator: The Qualified 401(k) Administrator (QKA) credential is conferred by ASPPA to retirement plan professionals who work primarily with 401(k) plans.
For more information, see the American Society of Pension Professionals and Actuaries website.
Business and Employer Services - Professional Certification: Professional certification exam for Business and Employer Services in workforce development.
For more information, see the Dynamic Works Institute website.
Global Professional in Human Resources: Globalization is the defining political and economic force in the world today.
For more information, see the HR Certification Institute website.
Certified Manager: Certified Manager certification is valued for the credibility and recognition it brings to managers and the organizations for which they work.
For more information, see the Institute of Certified Professional Managers website.
Program Management Professional: Project Management Institute's newest credential is specifically developed to acknowledge the qualifications of the professional who leads the coordinated management of multiple projects and ensures the ultimate success of a program.
For more information, see the Project Management Institute website.
Certified Compensation Professional: Recognized as the world's standard since 1976, the Certified Compensation Professional (CCP) designation is known throughout the global rewards community as a mark of expertise and excellence in all areas of compensation.
For more information, see the WorldAtWork website.
Certified Benefits Professional: Designed for today's dynamic benefits environment, the Certified Benefits Professional (CBP) program provides solid strategies and understanding.
For more information, see the WorldAtWork website.
LOCATION INFORMATION: Bridgeport, Connecticut
Bridgeport is located in Fairfield County, Connecticut. It has a population of over 136,405, which has shrunk by 2.2% in the past ten years. The cost of living index in Bridgeport, 151, is far greater than the national average. New single-family homes in Bridgeport are valued at $110,900 on average, which is far less than the state average. In 2008, twenty-six new homes were built in Bridgeport, down from forty-one the previous year.
The three big industries for women in Bridgeport are health care, educational services, and finance and insurance. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average commute to work is about 25 minutes. More than 12.2% of Bridgeport residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.6%, is lower than the state average.
The unemployment rate in Bridgeport is 12.1%, which is greater than Connecticut's average of 8.3%.
The percentage of Bridgeport residents that are affiliated with a religious congregation, 70.1%, is more than both the national and state average. Calvary Episcopal Church, Golden Hill United Methodist Church and Good Shepherd Christian Church are among the churches located in Bridgeport. The most common religious groups are the Catholic Church, the Episcopal Church and the United Church of Christ.
Bridgeport is home to the North Branch Bridgeport Public Library and the Challenger Learning Center as well as Went Field and Johnson Oak Park. Shopping centers in the area include Lafayette Shopping Plaza Shopping Center, Baldwin Plaza Shopping Center and Bayview Shopping Center.