How Much to Employee Benefits Professionals Make??

How Much to Employee Benefits Professionals Make??
There is a large salary gap between what employee benefits professionals make when they work for an employer compared to if they are a consultant.
For example, a Head of Total Rewards at an Employer typically earns between $139,000 and $233,000.
In contrast, a Vice President at a Benefits Consulting Firm typically earns between $233,000 and $475,000... That's 90% MORE than their peer at the employer (i.e. almost double).
Employers, such as Walmart, that are highly focused on the performance of their employee health plan pay their employee benefits people MORE so they can hire benefits consultants away from consulting firms to work for them.
The increase in salaries needed to convince consultants to leave their job and work for an employer directly only represents a 1.3% increase in overall plan spend.
Sources:
www.payscale.com/research/US/...
www.glassdoor.com/Salaries/us...
www.glassdoor.com/Salaries/mi...
www.salary.com/research/compa...
www.glassdoor.com/Salary/Merc...
www.glassdoor.com/Salary/WTW-...
www.glassdoor.com/Salary/Merc...
www.zippia.com/aon-careers-57...
www.shrm.org/resourcesandtool....
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[@nipatel1760]

Thank you for shedding light on this subject.

[@ahealthcarez]

Thank you for watching.

[@BFantana]

Incredible videos. Your explanations are so clear, and you answer questions I didn't know I had. Your channel is a goldmine of resources. Thank you!

[@ahealthcarez]

Thank you for watching and for your support.

[@GH-zs9fj]

Thank you for continuing to "attempt" to explain the complex health care system to the average consumer (all of us)!! It is 2AM, and I may be interpreting this incorrectly, but this is my opinion. My father was in a nursing home for approximately 3 years (to the best of my knowledge, the average length of stay). When the facility was short on nurse aids/nurse assistants for a particular shift, they would contract/outsource employees from an outside agency whose employees would be paid almost double the facilities hired workers. Also, government agencies tend to contract/outsource high paying technical jobs. I don't understand why companies/government agencies don't invest in existing employees by offering training and competitive wages. These employees may have a deeper commitment to the company/agency and thus provide high-quality, long-term professional care to clients, which would, over time, increase customer satisfaction and the bottom line! Happy employees and happy clients. A successful business model, in my opinion! Just my 2 cents!

[@ahealthcarez]

Thank you for watching and sharing your thoughts.

[@holtonian]

Having done both roles --- most consultants/brokers couldn't do the client side.

[@ahealthcarez]

Good to know. Thank you.