As of July 01, 2026, the average salary for a Retirement Plan Administrator I in New Mexico is $54,300 per year, which breaks down to an hourly rate of $26.
However, a Retirement Plan Administrator I's salary can vary significantly. Here’s a look at the typical salary range:
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A Retirement Plan Administrator I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, and company size can directly affect your earning potential.
Experience is a primary driver of a Retirement Plan Administrator I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Retirement Plan Administrator I | 0-2 years | $54,292 |
| 401K Services Specialist II | 2-4 years | $66,490 |
| 401K Services Specialist III | 4-7 years | $86,765 |
| 401K Services Supervisor | 7+ years | $88,096 |
| 401K Services Manager | 7+ years | $129,731 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Retirement Plan Administrator Is. For example, consider the average annual salaries in these key locations:
Retirement Plan Administrator I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $58,543. While startup companies pay approximate $49,584.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $49,584 |
| Growth Stage | 51~500 | $52,433 |
| Established | 501~5000 | $56,554 |
| Enterprise | 5000+ | $58,543 |
For Retirement Plan Administrator I roles, the industry you choose can affect earning potential by as much as 90% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Business Services sectors offer the strongest compensation, at 60% above the average. In contrast, Retirement Plan Administrator positions in Edu., Gov't. & Nonprofit or Insurance typically offer lower base pay, as these industries often view Retirement Plan Administrator I as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $86,880 | $42.0 | 60% |
Understanding how a Retirement Plan Administrator I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on July 01, 2026Promotions are the fastest way to increase your earnings. As a Retirement Plan Administrator I, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| External Payroll Specialist | $66,500 | 22% |
| 401K Services Specialist II | $66,500 | 22% |
| External Accounting Services Specialist II | $66,500 | 22% |
| Business Process Advisor II | $66,500 | 22% |
Ready to take the next step in your career? Browse thousands of current Retirement Plan Administrator I job openings on our job board. Use the search bar below to find your perfect match.
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