Compensation specialists: Salary, career path, job outlook, education and more
Compensation specialists assess the organizations pay structure. They research compensation trends and review surveys to determine how their organizations pay compares with that of other organizations in a particular industry and region. They often perform complex data or cost analyses to evaluate compensation policies. They also ensure that the organizations pay practices comply with federal and state laws and regulations, such as workers compensation, minimum wage, overtime, and equal pay laws.
- Education Required
- Employers typically require that compensation, benefits, and job analysis specialists have a bachelors degree. Many specialists have a degree in human resources, business administration, finance, communication, or a related field. Some employers may accept additional related work experience in lieu of a degree.
- Job Outlook
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The projected percent change in employment from 2016 to 2026: 9% (As fast as average)
(The average growth rate for all occupations is 7 percent.) - Advancement
- Compensation, benefits, and job analysis specialists may advance to acompensation and benefits manager or a human resources manager position. Specialists typically need several years of work experience to advance.
- Licenses/Certifications
- Although certification is not required, it can demonstrate professional expertise. Some employers prefer to hire certified candidates, but many employers will have their employees become certified after they are already working. Certification programs often require several years of related work experience in order to qualify for the credential.
- Median pay: How much do Compensation, Benefits, and Job Analysis Specialists make?
- $62,080 Annual Salary
- $29.85 per hour
Careers for Compensation, Benefits, and Job Analysis Specialists
- Benefits analysts
- Benefits specialists
- Compensation analysts
- Employee benefits specialists
- Job analysis specialists
- Job analysts
- Job specification writers
- Occupational analysts
- Pension administrators
- Position classification specialists
- Position classifiers
- Retirement plan specialists