Benefits and compensation are important parts of modern business. Benefits departments handle the company’s employee benefits program. Benefits can include everything from health insurance and pension plans to tuition reimbursement. Establishing and maintaining a firm’s pay system is the principal job of the compensation department. Compensation departments develop ways to ensure fair and equitable pay rates.

The job market for benefits and compensation is likely to remain competitive. There is a large supply of qualified college graduates and experienced workers. In addition to openings due to growth, many job openings will result from the need to replace workers who transfer to other occupations or leave the labor force.

The benefits and compensation field requires attention to detail, the ability to work with individuals, and a commitment to organizational goals.

Benefits and compensation departments are required to stay abreast of relevant Federal and State Laws. This field also demands skills such as using computers, selling, teaching, supervising, and volunteering.

Employers usually seek college graduates to fill positions in this field. Many employers prefer applicants who have majored in human resources or industrial and labor relations. Others look for college graduates with a technical or business background or a well-rounded liberal arts education.

Benefits and compensation work usually takes place in clean, pleasant, and comfortable office settings. A 35- to 45-hour week is typical. Some travel may be required.