Career and Education Opportunities for Compensation and Benefits Managers in Richardson, Texas
If you want to be a compensation and benefits manager, the Richardson, Texas area offers many opportunities both for education and employment. Currently, 3,400 people work as compensation and benefits managers in Texas. This is expected to grow 19% to about 4,050 people by 2016. This is better than the national trend for compensation and benefits managers, which sees this job pool growing by about 8.5% over the next eight years. In general, compensation and benefits managers plan, direct, or coordinate compensation and benefits activities and staff of an organization.
Income for compensation and benefits managers is about $45 hourly or $93,700 yearly on average in Texas. Nationally, their income is about $41 hourly or $86,500 per year. Compared with people working in the overall category of Human Resources, people working as compensation and benefits managers in Texas earn more. They earn more than people working in the overall category of Human Resources nationally. Jobs in this field include: corporate controller, human resources information system director , and employment advisor.
There are seventy-seven schools of higher education in the Richardson area, including four within twenty-five miles of Richardson where you can get a degree to start your career as a compensation and benefits manager. Given that the most common education level for compensation and benefits managers is a Bachelor's degree, it will take about four years to learn 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 Richardson 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 North Texas - Denton, TX
University of North Texas, Chestnut Ave., Denton, TX 76203-1277. University of North Texas is a large university located in Denton, Texas. It is a public school with primarily 4-year or above programs. It has 34,795 students and an admission rate of 64%. University of North Texas has 2 areas of study related to Compensation and Benefits Manager. They are:
- Human Resources Management/Personnel Administration, master's degree which graduated 1 student in 2008.
- Labor and Industrial Relations, master's degree.
DeVry University-Texas - Irving, TX
DeVry University-Texas, 4800 Regent Blvd, Irving, TX 75063-2439. DeVry University-Texas is a small university located in Irving, Texas. It is a private for-profit school with primarily 4-year or above programs. It has 3,647 students and an admission rate of 89%. DeVry University-Texas has a master's degree program in Human Resources Management/Personnel Administration which graduated six students in 2008.
University of Dallas - Irving, TX
University of Dallas, 1845 E Northgate Drive, Irving, TX 75062-4736. University of Dallas is a small university located in Irving, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,977 students and an admission rate of 91%. University of Dallas has a master's degree program in Human Resources Management/Personnel Administration which graduated two students in 2008.
Southern Methodist University - Dallas, TX
Southern Methodist University, 6425 Boaz St, Dallas, TX 75275-0221. Southern Methodist University is a large university located in Dallas, Texas. It is a private not-for-profit school with primarily 4-year or above programs. It has 10,965 students and an admission rate of 50%. Southern Methodist University has a postbaccalaureate certificate and a master's degree program in Labor and Industrial Relations which graduated ten and thirty-two students respectively in 2008.
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: Richardson, Texas
Richardson is situated in Dallas County, Texas. It has a population of over 101,589, which has grown by 10.7% over the last ten years. The cost of living index in Richardson, 92, is below the national average. New single-family homes in Richardson are priced at $210,000 on average, which is well above the state average. In 2008, sixty-eight new homes were constructed in Richardson, down from one hundred forty-eight the previous year.
The top three industries for women in Richardson are educational services, professional, scientific, and technical services, and health care. For men, it is professional, scientific, and technical services, computer and electronic products, and construction. The average travel time to work is about 24 minutes. More than 47.7% of Richardson residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 16.2%, is higher than the state average.
The unemployment rate in Richardson is 7.2%, which is less than Texas's average of 8.1%.
The percentage of Richardson residents that are affiliated with a religious congregation, 55.1%, is more than the national average but less than the state average. Heights Baptist Church, Richardson East Baptist Church and Richland Bible Fellowship Church are some of the churches located in Richardson. The most prominent religious groups are the Catholic Church, the Southern Baptist Convention and the United Methodist Church.
Richardson is home to Canyon Creek Park and Berkner Park. Visitors to Richardson can choose from Comfort Inn, Best Western Dallas Telecom Area and Champ Restaurant Equipment Supplies for temporary stays in the area.