Compensation Specialist Salary

For Compensation Specialists, annual average wages total $53K per year. Men are in the minority of survey respondents, with female Compensation Specialists making up 75 percent. Most Compensation Specialists like their work and job satisfaction is high. A large number enjoy medical while most get dental coverage. Vision coverage is also available to a fair number. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$36,756 - $79,402
(Median)
$37K
$53K
$79K
MEDIAN: $52,822
10%
50%
90%

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$12.31 - $29.13
(Median)
$12
$19
$29
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$27K$54K$81K
Salary
$36,756 - $79,402  
   
Bonus
$0.00 - $8,000  
Profit Sharing
$1,011  
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).
)
$32,369 - $77,897  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 138
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$13$26$39
Hourly Rate
$12.31 - $29.13  
   
Overtime
$18.31 - $36.95  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$26K$52K$78K
Bonus
$0.00 - $8,000  
   
Profit Sharing
$1,011  
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).
)
$32,369 - $77,897  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 51
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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

  • 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.
  • Design and prepare ad hoc compensation and budget related reports for management.
  • Write job descriptions and maintain database of all job descriptions.
  • Assist in preparation of merit increase and incentive programs and budgeting.

Compensation Analyst Job Listings

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Popular Skills for Compensation Specialist


Professional skills reported by Compensation Specialists are few in number. Fortunate workers who know Benefits & Compensation command much higher paychecks, scoring salaries 29 percent above average. Skills that are correlated to lower pay, on the other hand, include Microsoft Word, Microsoft Office, and Microsoft Excel. For most people, competency in Microsoft Excel indicates knowledge of Microsoft Word.

Pay by Experience Level for Compensation Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Those who have worked for fewer than five years take home a median salary of $46K, and workers with five to 10 years of experience earn a higher $55K on average. Compensation Specialists claiming one to two decades of experience make an estimated median of $69K. Respondents who boast more than 20 years of experience can't seem to boast paychecks reflecting that extensive experience, though; veteran Compensation Specialists report making only $61K on average.

Compensation Specialist Reviews

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

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Experience Affects Compensation Specialist Salaries

Experienced
up arrow 38%

Late-Career
up arrow 23%


National Average
$50,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 29%

National Average
$50,000


Microsoft Office
up arrow 10%


Job Satisfaction

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

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
5%
1-4 years
49%
5-9 years
24%
10-19 years
12%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 81%
medical benefits
Vision: 71%
dental benefits
None: 8%
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