Compensation, Benefits, and Job Analysis Specialist Careers
Two business colleagues shaking hands across the table in congratulations during a multiracial business meeting at a conference table in the office
Compensation, benefits, and job analysis specialists are trained to ensure that companies are in compliance with federal and state laws regarding compensation and benefits given to employees. The specialists evaluate and determine job classifications, whether such positions should be exempt or non-exempt, and the salary of individuals working in such capacities.
Compensation specialists also analyze current methods for selecting, compensating and promoting employees to make improvements for the future. Some specialists play intricate roles in training employees that may not be limited to contributing topic suggestions. Specialists offer advice on how to resolve classification and salary complaints.
Compensation, Benefits, and Job Analysis Specialist Career Snapshot
Compensation, benefits, and job analysis specialists observe and analyze various job scenarios to make suggestions for improvement. Workers may work varying shifts that include weekends and late nights in addition to contributing overtime hours if a situation warrants such labor.
Further details on a career as a compensation specialist are listed below (statistics from the May 2016 Bureau of Labor Statistics and Onet Online):
is the average annual salary for compensation specialists.
increase in employment between 2014 and 2024.
have a Bachelor’s degree while 5% have some college, no degree.
Education
Most companies require compensation specialists to have at minimum a bachelor’s degree. Some corporations accept workers with associate’s degrees who are in the process of furthering their education.
Job Duties
Compensation specialists are required to analyze compensation and benefits given to employees and make suggestions for future improvement. Specialists may get information for evaluation through documents or employee interviews. Employees may also oversee other business processes that directly affect employee salaries.
Salaries
The median pay for compensation specialists is about $62,000 annually. Individuals living in areas where the cost of living is substantially higher may find themselves earning upwards of $100,000 per year in compensation. Specialists residing in regions where cost of living is lower are typically paid $39,090 annually for the work they complete. Those wanting to earn more in this field should pursue higher education and promotional positions.
Job Outlook
Job prospects for compensation, benefits, and job analysis specialists are expected to grow by four percent over the next ten years. Such increase is slower than the national average.
Compensation, Benefits, and Job Analysis Specialist Skills & Traits
| Compensation Specialist Skill Set: | Required Abilities: | Tools Used by Compensation Specialists: | Typical Work Activities: |
|---|---|---|---|
| • Active Listening • Critical Thinking • Reading Comprehension • Speaking | • Oral Comprehension • Oral Expression • Written Comprehension • Deductive Reasoning | • Desktop calculator • Electronic storage devices • Laser facsimile machines • Personal computers | • Getting Information • Analyzing Data or Information • Communicating with Supervisors, Peers, or Subordinates • Interacting With Computers |
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