Compensation Specialist Salary

Average Compensation Specialists in the United States make around $60K per year. Location and years of experience each impact pay for this group, with the former having the largest influence. A large number receive medical and dental insurance and a fair number get vision plans. Job satisfaction for Compensation Specialists is high. Men are in the minority of survey respondents, with female Compensation Specialists making up 76 percent. The data for this synopsis comes from respondents who took the PayScale salary survey.

$42,173 - $90,000
$42K
$60K
$90K
MEDIAN: $60,481
10%
50%
90%

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$13.17 - $30.88
$13
$19
$31
MEDIAN: $19.33
10%
50%
90%

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$0$90K
Salary $42,173 - $90,000
Bonus $0.00 - $10,000
Profit Sharing $2,250
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,048 - $88,229
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 104
Hourly Data $0$34
Hourly Rate $13.17 - $30.88
Overtime $18.19 - $34.84
Annual Data $0$88K
Bonus $0.00 - $10,000
Profit Sharing $2,250
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,048 - $88,229
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 36

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Compensation Specialist

Compensation specialists are responsible for developing and implementating different compensation programs and strategies on behalf of their company. They are in charge of modifying different salary and wage initiatives that will benefit specific employees and their organization. These individuals are organized and possess strong problem-solving skills to overcome administrative and financial obstacles. They work in an office environment with a regular 9-5 schedule. They also use a personal computer to write compensation reports, run calculcations on spreadsheet software, and keep accurate records for future reference.

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Compensation Specialist Tasks

  • Write job descriptions and maintain database of all job descriptions.
  • Assist in preparation of merit increase and incentive programs and budgeting.
  • Design and prepare ad hoc compensation and budget related reports for management.
  • Participate in salary surveys, and analyze data from survey sources to determine competitiveness both internally and externally.
  • Price new jobs utilizing salary surveys or slotting.

Compensation Specialist Job Listings

Popular Skills for Compensation Specialist


Compensation Specialists seem to require a number of specific skills. Most notably, facility with Benefits & Compensation and Data Analysis are correlated to pay that is significantly above average, leading to increases of 24 percent and 15 percent, respectively. Skills that pay less than market rate include Microsoft Office, Microsoft Word, and Microsoft Excel. It is often found that people who know Microsoft Excel are also skilled in Microsoft Word.

Pay by Experience Level for Compensation Specialist

Pay by Experience for a Compensation Specialist has a positive trend. An entry-level Compensation Specialist with less than 5 years of experience can expect to earn an average total compensation of $51,000 based on 96 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Compensation Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 40 salaries. An experienced Compensation Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $67,000 based on 30 salaries. A Compensation Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $65,000 based on 9 salaries.

Pay Difference by Location

National Average: $56,920

Larger city markers indicate a job is popular in that location.

For Compensation Specialists, working in the bustling city of Dallas has its advantages, including an above-average pay rate. Compensation Specialists will also find cushy salaries in New York (+23 percent). Compensation Specialists' salaries are heavily influenced by location — Compensation Specialists in Dayton bring in salaries that are 41 percent lower than the national average.

Compensation Specialist Reviews

Q: What is it like working as a Compensation Specialist?

Compensation Specialist in Tahlequah:
"Higher Education Institution."
Pros: Helping people overcome obstacles and helping them to obtain the fairest wages I can get for them.
Cons: To much government paperwork.

Related Job Salaries

Key Stats for Compensation Specialist

Gender

Female
76 %
Male
24 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.
Less than 1 year
4%
1-4 years
49%
5-9 years
20%
10-19 years
24%
20 years or more
4%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Compensation Specialist Salaries

▲24%

▲17%

▲14%

National Average
$57,000

▼11%

Skills That Affect Compensation Specialist Salaries


Data Analysis
▲15%

National Average
$57,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 23 votes.

Gender

Female
76 %
Male
24 %

Years of Experience

Less than 1 year
4%
1-4 years
49%
5-9 years
20%
10-19 years
24%
20 years or more
4%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 82%
vision benefits
Vision: 72%
no benefits
None: 12%
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