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Compensation Manager Jobs in Minnesota (NOW HIRING)

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Compensation Manager information

See Minnesota salary details

$34.8K

$112.4K

$166K

How much do compensation manager jobs pay per year?

As of Aug 6, 2026, the average yearly pay for compensation manager in Minnesota is $112,368.00, according to ZipRecruiter salary data. Most workers in this role earn between $94,000.00 and $129,800.00 per year, depending on experience, location, and employer.

What is a compensation manager?

A compensation manager is part of a corporate HR team which researches and develops the pay policies in a company. They use research to help determine fair pay scales for all the company employees. Duties include helping the business with recruiting and integrating new employees. At a small company, they might be responsible for all aspects of the pay system, while at a larger company they may have specific responsibilities, such as doing market research or surveying workers.

What is the difference between Compensation Manager vs Compensation Analyst?

AspectCompensation ManagerCompensation Analyst
CredentialsBachelor's degree, often HR or Business; certifications like CCP or CBPBachelor's degree in HR, Business, or related; certifications like CCP beneficial
Work EnvironmentOversees compensation strategies, manages teams, collaborates with HR leadershipAnalyzes salary data, prepares reports, supports compensation programs
Employer & Industry UsageUsed in large organizations across various industriesCommon in HR departments, especially in finance, healthcare, and tech sectors

The Compensation Manager focuses on developing and managing overall compensation strategies, policies, and team leadership. In contrast, the Compensation Analyst primarily conducts data analysis, prepares reports, and supports compensation program implementation. Both roles require similar credentials but differ in scope and responsibilities within the compensation function.

What are the key skills and qualifications needed to thrive as a compensation manager?

To thrive as a Compensation Manager, you need expertise in compensation analysis, benefits administration, and compliance, often supported by a degree in human resources or business and relevant certifications such as CCP (Certified Compensation Professional). Familiarity with HRIS systems, data analytics tools, and compensation benchmarking software is typically required. Strong analytical thinking, attention to detail, and effective communication skills help you design competitive pay structures and collaborate with stakeholders. These skills ensure fair, data-driven compensation practices that support employee satisfaction and organizational goals.

What degree do you need to be a compensation manager?

A compensation manager typically needs a bachelor's degree in human resources, business administration, finance, or a related field. Many employers prefer candidates with a master's degree or professional certifications such as the Certified Compensation Professional (CCP). Relevant skills include data analysis, knowledge of compensation laws, and experience with HR software.

What are some common challenges compensation managers face when designing competitive pay structures?

Compensation Managers often navigate the challenge of balancing internal equity, market competitiveness, and budget constraints when designing pay structures. They must ensure that compensation packages attract and retain top talent while staying compliant with regulations and maintaining fairness across the organization. Additionally, Compensation Managers regularly analyze market data, manage employee expectations, and collaborate with HR and leadership to support organizational goals. These complexities require strong analytical skills, communication, and the ability to adapt to changing market trends.
More about Compensation Manager jobs
What are the most commonly searched types of Compensation jobs in Minnesota? The most popular types of Compensation jobs in Minnesota are:
What are popular job titles related to Compensation Manager jobs in Minnesota? For Compensation Manager jobs in Minnesota, the most frequently searched job titles are:
What job categories do people searching Compensation Manager jobs in Minnesota look for? The top searched job categories for Compensation Manager jobs in Minnesota are:
What cities in Minnesota are hiring for Compensation Manager jobs? Cities in Minnesota with the most Compensation Manager job openings:
Compensation Manager jobs near you
Infographic showing various Compensation Manager job openings in Minnesota as of July 2026, with employment types broken down into 90% Full Time, 9% Part Time, and 1% Contract. Highlights an 82% Physical, 2% Hybrid, and 16% Remote job distribution, with an average salary of $112,368 per year, or $54 per hour.

Director, Deferred Compensation and LTIA

Ameriprise Financial

Minneapolis, MN • On-site

$130K - $178K/yr

Full-time

Medical, Dental, Life, Retirement, PTO

Re-posted 4 days ago

Ameriprise rating

7.7

Company rating: 7.7 out of 10

Based on 130 frontline employees who took The Breakroom Quiz

105th of 150 rated financial services

Job description

About Our Company
We're a diversified financial services leader with more than $1.5 trillion in assets under management, administration and advisement as of year-end 2024. Our team of 22,000 people across 19 countries, serves more than 3.5 million individual, small business and institutional clients. We are a longstanding leader in financial planning and advice, a global asset manager and an insurer. Our unwavering focus on our clients and strong financial foundation connects each of our unique businesses - Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. Here, we foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.
Job Description
The Director of Deferred Compensation and Long Term Incentive Awards (LTIA) provides strategic leadership and operational oversight for the organization's deferred compensation and LTIA programs. This role is accountable for ensuring programs are compliant, well governed, cost effective, and aligned with organizational objectives.
A critical component of the role is consulting closely with internal stakeholders and clients-often without direct reporting authority-to influence program design, simplify administration, and proactively manage 409A risk.
Key Responsibilities
  • Provide leadership for the administration of deferred compensation and LTIA programs for eligible employees, ensuring programs align with organizational strategy, business priorities, and talent objectives.
  • Act as a trusted advisor and consultant to senior leaders and key internal stakeholders, influencing decisions related to program design, modifications, and optimization through expertise, credibility, and collaboration rather than formal authority.
  • Partner cross functionally with Legal, Finance, HR, Payroll, HR Operations, and external advisors to balance competitiveness, employee needs, fiscal responsibility, and regulatory requirements.
  • Lead analysis of existing programs and associated costs to identify opportunities to simplify plan design, enhance benefit value, and reduce operational and compliance risk, including 409A exposure.
  • Ensure all deferred compensation and LTIA programs are administered in compliance with applicable federal and state regulations, with a strong focus on anticipating, mitigating, and managing 409A risk and administrative complexity.
  • Guide stakeholders through complex regulatory considerations, helping translate technical requirements into practical, sustainable program designs.
  • Own and maintain strong relationships with external deferred compensation and LTIA recordkeeping vendors, providing oversight to ensure service levels, accuracy, and compliance standards are met.
  • Oversee vendor processes related to new awards, vesting, distributions, and participant support, ensuring operational practices reinforce simplification and risk management objectives.
  • Develop and lead communication strategies for new or modified deferred compensation and LTIA programs, including annual enrollment materials, timelines, and participant guidance.
  • Partner with stakeholders to ensure communications are clear, accurate, compliant, and designed to promote informed decision making while reducing misunderstanding and compliance risk.
  • Lead, coach, and develop a team responsible for the day to day administration and governance of deferred compensation and LTIA programs, fostering accountability, technical expertise, and continuous improvement. Provide ongoing feedback, formal performance reviews, and career development guidance to direct reports. Build team capabilities in consultative leadership, stakeholder influence, and risk aware decision making to support both operational excellence and strategic partnership.

Required Qualifications
  • Bachelors degree or equivalent (4 years)
  • 10+ years of experience, with 5+ years experience in one or more benefits functional areas.
  • Depth of experience/knowledge in deferred compensation and equity programs.
  • Previous vendor management experience.
  • Knowledgeable of deferred compensation and equity arrangements.
  • Strong financial and analytical skills to analyze cost and effectiveness.
  • Excellent written and verbal communication skills for preparing benefit program communications and delivering information to others.
  • Experienced people leader with demonstrated track record of building an effective team.

In-Office Collaboration
We are a client-centric, relationship-based business. Working together, in-person, is foundational to how we achieve results. By fostering a culture of face-to-face collaboration, idea sharing, productivity and personal connection, we deliver for our stakeholders - clients, advisors, employees and shareholders. Our employees work in the office at least four (4) days per week, with flexibility to work from home one (1) day per week. Some roles may require additional in-office time or different in-office expectations, and specific requirements will be discussed during the hiring process.
Visa Sponsorship
Applicants must have a valid work authorization that does not now, or in the future, require visa sponsorship for employment in the United States (e.g., H-1B, F-1 CPT, F-1 OPT, TN).
Base Pay Salary
The estimated base salary for this role is $117,900 - $207,100 / year. We have a pay-for-performance compensation philosophy. Your initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. In addition, most of our roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We also have a competitive and comprehensive benefits program that supports all aspects of your health and well-being, including but not limited to vacation time, sick time, 401(k), and health, dental and life insurances.
Full-Time/Part-Time
Full time
Exempt/Non-Exempt
Exempt
Job Family Group
Human Capital
Line of Business
HR Human Resources
Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, ancestry, age, physical or mental disability, medical condition, pregnancy, military status, veteran status, genetic information, citizenship, disability status, marital status, family status or any other basis prohibited by law.
We are committed to fostering an inclusive and accessible recruitment process for individuals with disabilities. If you require a reasonable accommodation to participate in the application or interview process, speak to your recruiter to discuss how we can support you.

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About Ameriprise

Sourced by ZipRecruiter

At Ameriprise Financial, we're not just in the business of helping clients with their financial goals - we also help our advisors and employees reach their true potential by embracing an inclusive and collaborative culture. We celebrate the unique qualities and reward the contributions of our talented, passionate employees. If you're motivated and want to work for a strong, ethical company that cares about you and your community, take the next step with Ameriprise Financial.

Industry

Funds, trusts and financial programs

Company size

5,001 - 10,000 Employees

Headquarters location

Minneapolis, MN, US

Year founded

1894

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