Average Compensation and Benefits Managers Salary in New Jersey
Compensation and Benefits Managers in New Jersey command an impressive average annual salary of $190,280, significantly exceeding the national average of $160,420. This elevated compensation is largely driven by New Jersey's robust corporate landscape and the high demand for specialized HR professionals within its thriving industries.
Executive Summary
- Average Salary: $190,280 per year.
- Growth Trend: Salaries have shifted 4.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $285,420.
- Outlook: With a local workforce of 810 Compensation and Benefits Managers and a Location Quotient of 1.47, New Jersey demonstrates a notable concentration of these roles compared to the national average. This suggests a strong and potentially growing demand for professionals skilled in designing and managing compensation and benefits programs within the state.
Salary Overview
The average Compensation and Benefits Managers in New Jersey earns+18.6%above the national average.
$91.5
$3,659
$15,857
Compensation and Benefits Managers Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Compensation and Benefits Managers in New Jersey have experienced consistent growth over the past four years, mirroring national trends. Factors such as inflation, evolving benefits landscapes, and increasing complexity in compensation strategies likely contribute to upward salary pressure in this specialized field.
Compensation and Benefits Managers Salary Distribution in New Jersey
Career progression for Compensation and Benefits Managers in New Jersey typically involves a significant salary increase with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive expertise in strategic compensation planning, executive compensation, and benefits administration can command salaries well into the upper percentiles, reflecting their value and impact.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $120,760 | $58.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $142,710 | $68.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $182,660 | $87.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $237,850 | $114.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $285,420 | $137.2 |
Detailed Compensation and Benefits Managers Market Analysis
Relocation Context
Nominal Salary
$190,280
Gross Pay
Real Wage (Purchasing Power)
$169,288
Adjusted for COL (112.4)
The average annual salary of $190,280 in New Jersey presents a strong nominal income. However, with a Cost of Living Index of 112.4, which is 12.4% above the national average, the purchasing power of this salary is somewhat tempered. While still providing a comfortable standard of living, individuals should factor in the higher costs associated with housing, goods, and services when considering relocation or budgeting.
Job Market Context
810
Total Jobs
0.192
Per 1K Jobs
1.47
Location Quotient
With a location quotient of 1.47, New Jersey has a slightly higher-than-average concentration of Compensation and Benefits Managers roles compared to the national norm.
A Location Quotient of 1.47 indicates that Compensation and Benefits Manager roles are 47% more concentrated in New Jersey than the national average. This suggests a more competitive job market with a higher density of opportunities and potentially more specialized roles available, making it an attractive location for experienced professionals seeking advanced career opportunities.
Nearby Job Markets
Nearby Cities for Compensation and Benefits Managers
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Compensation and Benefits Managers Salary | $191,990↑ 1% | 14 mi |
| New York-Newark-Jersey City, NY-NJ Compensation and Benefits Managers Salary | $200,630↑ 5% | 39 mi |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Compensation and Benefits Managers Salary | $147,850↓ 22% | 42 mi |
| Allentown-Bethlehem-Easton, PA-NJ Compensation and Benefits Managers Salary | $134,020↓ 30% | 54 mi |
Comparing salaries near New Jersey
Hiring Compensation and Benefits Managerss?
Frequently Asked Questions
How much does a Compensation and Benefits Managers make in New Jersey?
The median annual salary for a Compensation and Benefits Managers in New Jersey is $190,280. This typically ranges from $120,760 for entry-level positions to $285,420 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New Jersey is 18.6% higher than the national median of $160,420.
Is New Jersey a lucrative place for Compensation and Benefits Managers?
Yes, New Jersey is a highly lucrative state for Compensation and Benefits Managers.The average salary significantly surpasses the national average, and the high concentration of these roles indicates strong employer demand and competitive compensation packages.
Is New Jersey a good place to live for Compensation and Benefits Managers?
The Cost of Living Index in New Jersey is 112.4. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New Jersey?
Some top paying nearby cities include Trenton-Princeton, NJ ($191,990) and New York-Newark-Jersey City, NY-NJ.
What is the average salary for a Compensation and Benefits Manager in New Jersey?
The average annual salary for a Compensation and Benefits Manager in New Jersey is $190,280.
How does New Jersey's salary compare to the national average?
New Jersey's average salary of $190,280 is substantially higher than the national average of $160,420.
Is the job market for Compensation and Benefits Managers strong in New Jersey?
Yes, the market is strong, evidenced by a Location Quotient of 1.47, indicating a higher concentration of these roles than the national average.
How does the cost of living in New Jersey affect the salary?
New Jersey's cost of living is 12.4% above the national average, meaning the high salary's purchasing power is slightly reduced compared to lower-cost areas.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 810 employees in the New Jersey area with a job density of 0.192 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Compensation and Benefits Managers • Data source: BLS OEWS 2024 •Jobs in New Jersey