How To Become a Benefits Consultant

A benefits consultant career is a rewarding one. You get the chance to help a company design, develop, and deliver quality benefits plans while saving money.

If you're interested in taking on this role, it's important to understand how to enter the field. Becoming a benefits consultant starts with earning a minimum of a bachelor's degree in a related field and gaining the right experience. You could also benefit from getting certified.

The more you know about this position, the easier it will be to build a fantastic career. Keep reading to learn the educational requirements, certification options, and additional steps for becoming a benefits consultant.

Steps for Becoming a Benefits Consultant

There is more than one route to take to become a benefits consultant. You can choose from a few majors and certification options. Explore the steps you can take to start this career path.

1. Determine the Best Major for a Career in Benefits Consulting

Employers typically look for benefits consultant candidates with a bachelor's degree. But the degree usually doesn't have to be in a specific field. Here are a few popular majors in benefits consulting:

• human resources management
• business (business management, business administration, accounting, finance, marketing)
• social science (political science, economics, sociology, international relations)
• psychology (counseling psychology, educational psychology)
• communication (journalism, mass media, public relations, advertising)

No matter the major chosen, it's recommended that candidates take courses in accounting, finance, and human resources management.

2. Find a School Offering Your Chosen Major

Your next step is to select a school offering a bachelor's degree in your chosen major. Here are some schools offering majors that could prepare you for this career:

• Penn State World Campus provides a fully online Bachelor of Science (BS) in labor and human resources that focuses on benefits, recruitment, and compensation and prepares students for SHRM-CP and aPHR professional certifications.
• Western Governors University offers a BS in business administration with a concentration in human resources management recognized by the Society for Human Resource Management (SHRM).
• Southeast Missouri State University has a Bachelor of Arts (BA) in social science that provides a comprehensive overview of the field with concentration options in sociology, economics, psychology, and history.
• UMass Global offers a BA in psychology that examines social psychology, statistics, research methods, critical thinking, communication, and more.
• The University of Cincinnati delivers a 100% online BA in communication that teaches public relations, interpersonal communication, critical thinking, and more.

3. Obtain an Undergraduate Degree in Your Chosen Major

After choosing the major, you'll need to enroll at your school of choice and complete your program. Graduation requirements will vary by school and program.

For example, Western Governors University's program requires students to complete 41 courses in general education, business, and human resources plus finish a human resources management capstone project.

Your program might require a specific GPA to graduate. Some schools mandate that students pick a concentration to complete the program.

4. Earn a Benefits Consultant Certification

Professional certification is not a requirement for working in benefits consulting; however, showing your skills and expertise through certification is always a plus. Here are certification options benefits consultants can choose from.

• Registered Employee Benefits Consultant (REBC) designation: ensures workers have quality knowledge of group benefits and specifically ACA, rate making, underwriting, and plan design
• Certified Employee Benefit Specialist (CEBS) Program: requires students to complete five courses focusing on strategic benefits management, directing benefits programs, and directing retirement plans
• SHRM Certified Professional (SHRM-CP): tests the knowledge of individuals who perform general HR duties or plan to pursue a human resource management career
• Associate Professional in Human Resources (aPHR): ensures individuals pursuing entry-level HR careers with or without an HR background have the knowledge needed to take their first steps in the field

It's important to note that some certifications require workers to have several years of experience in the field to qualify for the credential.

5. Consider an Advanced Degree

As with certification, an advanced degree is typically not required to find a great benefits consulting role. However, securing a degree beyond your bachelor's could open more doors for career advancement.

What will you learn in an advanced degree program? Let's say you pursued a master's degree in human resource management. Your program might focus on HR management, HR technology, total acquisition, HR compliance, and how to manage human capital.

What Is a Benefits Consultant?

A benefits consultant is a professional who manages the benefits programs that companies offer their workers. Here's more about this role.

Responsibilities of a Benefits Consultant

Benefits consultants create and administer employee benefits programs for an organization. Some of their responsibilities include:

• researching employee benefit plans and programs
• performing cost and data analysis to compare benefits options
• managing wellness programs, retirement plans, health insurance plans, and life insurance plans
• ensuring benefits packages are in regulatory compliance and competitive
• working with insurance companies to ensure employee health plans are ready for open enrollment and align with the Affordable Care Act and Medicare guidelines

Other responsibilities include preparing reports to summarize research on employee benefits packages and recommending ways to improve benefits enrollment.

Skills Required To Be a Benefits Consultant

Benefits consultants require specific skills to enjoy success in the field. Here are just a few:

• problem-solving skills to address issues that arise with benefits plans
• analytical skills to perform data analysis on an organization's benefits packages
• business skills to design benefits packages for new and current employees using finance and accounting knowledge
• project management skills to oversee multiple phases of a benefits plan's creation and delivery

You can also benefit from communication skills to provide benefits details to employees and critical thinking skills to evaluate policies and regulatory compliance.

Advantages of Being a Benefits Consultant

Pursuing a benefits consultant career is a great choice for individuals interested in devising benefits strategies that provide employees with top-notch benefits plans, including quality healthcare, life insurance, and wellness options.

Benefits consultants enjoy a steady work environment in a traditional office setting with full-time hours. Opportunities are available in nearly all fields since most businesses offer employee benefits.

FAQs About Benefits Consultants

Want to learn more about becoming a benefits consultant? Check out these frequently asked questions.

Is It Hard To Be a Benefits Consultant?

As with all jobs, working as a benefits consultant can present challenges that require problem-solving, analytical, and critical thinking skills. Getting experience in the field and considering continuing education can help you stay ahead of the curve and enjoy a fantastic work experience.

How Long Does It Take To Get a Benefits Consultant Certification?

The length of time needed to earn a benefits consultant certification depends on the program. In some cases, candidates must finish a specific number of courses, which could vary in completion. Other programs might require candidates to earn a passing score on an exam.

What Are the Career Prospects for Benefits Consultants?

Numerous career opportunities are available for benefits consultants. You might see this job listed under various job titles. Here are a few:

• benefits specialist
• benefits analyst
• benefits advisor
• benefits coordinator
• benefits administrator
• compensation analyst

The job outlook for benefits consultants is bright. According to the U.S. Bureau of Labor Statistics (BLS), employment of compensation, benefits, and job analysis specialists is expected to grow faster than average at 7% from 2022 to 2032.