Salary Survey 1
Running head: SALARY SURVEY
MGT 509
Human Resource Management
Module 4: SLP
Salary Survey
Dr. McNaughton
TUI University
By
David L. Gobber
Salary Survey 2
INTRODUCTION
The purpose of this session long project’s assignment is to select three positions to be
considered upon completion of the MBA and three locations where these jobs might be
performed. (For the purpose of this assignment, it has been interpreted that these are three
different jobs at three different locations not three different jobs each at three different locations).
Job descriptions, similarities and differences, and current compensation will also be discussed.
CAREER POSITIONS, LOCATIONS, SALARIES
The following table highlights the career positions, locations, and salaries that were
researched through SalaryExpert.com (Compensation, 2010).
Position U.S. Location Average Base High Salary
Salary
Compensation Boston, Massachusetts $130, 557 $168, 602
Manager
Employee Benefits San Francisco, $123,944 $176,246
Manager California
Compensation and Baltimore, Maryland $84,639 $136,946
Benefits Manager
The following chart (Compensation, 2010) highlights the results of the salary search for a
Compensation Manager in Boston, based on my experience and when I complete the MBA.
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Although the $168,602 salary would most likely not be the salary I would earn at first, I
should, however, earn the average base salary of $130,557 for the position in Boston, based on
my experience. According to the research, the salary ranges in Boston for a Compensation
Manager is higher than the U.S. Specifically, (Compensation, 2010).
Compared to a Compensation Manager in Boston, Massachusetts, a similar position of
Employee Benefits Manager in San Francisco, California pays lower at the base salary, yet
higher at the top according to the results of the survey (Compensation, 2010).
The results demonstrate that the base salary for a comparable position in California pays
approximately $10,000 a year less than in Massachusetts and approximately $10,000 higher at
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the high salary range. The salary data compared to the U.S. illustrates the higher ranges
(Compensation, 2010).
A Compensation and Benefits Manager earns significantly less in Baltimore, Maryland,
than does a Compensation Manager in Boston, Massachusetts; although neither earn as high a
salary as the top salary for an Employee Benefits Manager in San Francisco, California.
Compared to the U.S., these salary ranges are lower overall than the national average
U.S. locations for similar positions (Compensation, 2010).
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JOB DESCRIPTIONS
The three jobs are described below using the information from the Salary Survey Web
site in order to maintain consistency. Furthermore, the key differences and similarities that were
noticed among them are presented. While these are three different positions, they are similar in
context (Human Resource Management) and, as a result, the differences are mainly based on the
focus of the particular position. Specifically, a Compensation Manager, is more in a generalists
position, whereas the Employee Benefits Manager and Compensation and Benefits Managers
focus on specific areas of compensation (Compensation, 2010).
COMPENSATION EMPLOYEE BENEFITS COMPENSATION &
MANAGER MANAGER BENEFITS MANAGER
DESCRIPTION Manages compensation Directs and coordinates Manages and evaluates both
program, which may include employee benefits program the compensation and
incentive and executive for establishment. Plans and benefits functions for
compensation. Directs directs implementation and organizations, including
development and application administration of benefits participating in the design of
of techniques of job analysis, programs designed to ensure plans, hiring, salary and
job descriptions, evaluation, employees against loss of incentive, job evaluation,
grading, and pricing in order income because of illness, performance appraisal, life
to determine and convert injury, layoff, or retirement. and health insurance,
relative job worth into Typically reports to Human disability, and pension and
monetary values to be Resources Top Officer and profit sharing programs.
administered according to supervises Benefits Provides annual salary
pay-scale guidelines and Manager. action plans. Typically
policy. May report to reports to a director and may
Director of Compensation Directs preparation and have supervisors reporting to
and Compensation distribution of informational this position.
Supervisor may report to this literature and verbal
position. presentations to notify and Oversees qualified
advise employees of retirement plan participation.
Prepares and approves eligibility for benefits Supplements qualified plan
incentives and incentive plan programs, such as insurance benefits with non-qualified
formats. Works with plans, paid time off, bonus and administers those
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management to achieve pay, and special employer- programs. Assists in the
corporate goals. Analyzes sponsored activities. accounting for insurance
company compensation Analyzes company benefits funded plans. Administers
policies, government policies, laws concerning stock option plans.
regulations concerning mandatory insurance Administers long-term
payment of minimum wages coverage, data concerning incentive plans with equity
and overtime pay, prevailing prevailing practices among characteristics such as long-
rates in similar organizations similar organizations, and term bonuses, restricted
and industries, and agreements with labor stock, stock appreciation
agreements with labor unions, in order to comply plans, and the like.
unions, in order to comply with legal requirements and Participates in the relocation
with legal requirements and to establish competitive of key personnel. Reviews
to establish competitive rates benefits programs. Modifies current programs and
designed to attract, retain, aspects of existing program develops and executes
and motivate employees. according to findings, needed new programs.
Recommends compensation utilizing knowledge of
adjustments according to prevailing practices,
findings, utilizing knowledge emerging types of benefits
of prevailing rates of packages, and customary
straight-time pay, types of benefits provided for
wage incentive systems, and production, supervisory, and
special compensation executive personnel. Directs
programs for professional, performance of clerical
technical, sales, supervisory, functions, such as updating
managerial, and executive records and processing
personnel. Approves merit insurance claims
increases permitted within
budgetary limits and
according to pay policies
SIMILARITIES Understanding Understanding Understanding
compensation, benefits, compensation, benefits, compensation, benefits,
incentives, motivations, incentives, motivations, incentives, motivations,
retirement, salary, and other retirement, salary, and other retirement, salary, and other
compensation issues such as compensation issues such as compensation issues such as
reviews, pay scales, testing, reviews, pay scales, testing, reviews, pay scales, testing,
and labor agreements. and labor agreements. and labor agreements.
DIFFERENCES Focuses on overall employee Focuses on overall employee Focuses on managing and
benefits through benefits through directing planning compensation and
management, development, and coordinating existing benefits for employees.
and creation of plans.
compensation plans.
COMPENSATION
A type of compensation that is most important in my career and why I would seek this
type of compensation in one of these positions, particularly a general Compensation Manager,
which includes pay-for-performance incentives. As a highly motivated and self-directed
individual who frequently takes the initiative to develop enhancements and improve programs, I
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am interested in a position where I could be paid for my creativity and understanding of the
compensation market. The differences that are important to me initially include working with
human resources management to develop long-term goals to integrate with and to achieve
corporate goals because, basically, I am a long-term strategist and believe strongly in planning.
Other initiatives that interest me as a Compensation Manager and that are based on the nature of
the work includes preparing and approving incentives and incentive plan formats. As a
Compensation Manager, one analyzes policies, and all regulations, as well as agreements with
unions; in this position I could influence others to work together to achieve mutual objectives. I
would prefer to live in Boston, for the culture and life-style enrichment, even though it is more
expensive than the cost of living where I currently reside (Baltimore). Furthermore, as a
Compensation Manager in Boston, where there are numerous corporate headquarters and major
universities, there will be many and frequent opportunities to network for career development
and growth.
CURRENT COMPENSATION
CURRENT STRENGTHS WEAKNESSES
COMPENSATION
$65,000-$95,000 (confidential As a government employee, The weakness of current
range) the strengths of current compensation is salary, which
Including compensation include all is lower than other locations in
5% matching 401(k) compensation other than the country for the same
Health, dental, and vision salary, which is lower than position in industry.
Life Insurance 3 times other locations in the country
current salary for the same position in
Accident Insurance industry.
Cancer Insurance
Educational benefits
(Tuition, Books, Fees)
Credit Union membership
Gym Membership
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CONCLUSION
In conclusion, I have determined the position I want once I have completed my MBA,
addressed the reasons why this particular job and the location I want to be in for professional
career enlargement and growth. I have also addressed current compensation as well as its
strengths and weaknesses.
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REFERENCES
Compensation. (2010). Retrieved August 30, 2010, from SalarySurvey:
http://www.salaryexpert.com/index.cfm?FuseAction=SalaryCalculatorII.DspReportPage
&q=Compensation
