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Compensation Specialist Salary

The average Compensation Specialist in the United States earns approximately $51K annually. Job satisfaction is high and work is enjoyable for most Compensation Specialists. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most Compensation Specialists survey respondents are women (76 percent).

$36,115 - $83,971
(Median)
$36K
$51K
$84K
MEDIAN: $51,214
10%
50%
90%

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$11.63 - $28.65
(Median)
$12
$18
$29
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Salary
$36,115 - $83,971  
   
Bonus
$0.00 - $6,027  
Profit Sharing
$976 - $3,000  
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).
)
$31,241 - $79,126  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 122
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$11.63 - $28.65  
   
Overtime
$0.00 - $39.15  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $6,027  
   
Profit Sharing
$976 - $3,000  
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).
)
$31,241 - $79,126  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 46

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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.

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Popular Skills for Compensation Specialist


Compensation Specialists who responded to the survey indicated only a few skills that they use on the job. Fortunate workers who know Benefits & Compensation can expect a significant pay bump, scoring salaries 35 percent above average. At the other end of the pay range are skills like Microsoft Word, Microsoft Office, and Microsoft Excel. It is often found that people who know Microsoft Excel are also skilled in Microsoft Office.

Pay by Experience Level for Compensation Specialist

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


More years of relevant experience do not necessarily translate to higher paychecks. Those who have worked for fewer than five years take home a median salary of $45K, and workers with five to 10 years of experience earn a higher $51K on average. Compensation Specialists with one to two decades of relevant experience report an average salary of approximately $59K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $63K on average.

Related Job Salaries

United States (change)

Experience Affects Compensation Specialist Salaries

Late-Career
up arrow 35%

Experienced
up arrow 26%


National Average
$47,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 35%

National Average
$47,000

Microsoft Excel
up arrow 4%

Microsoft Office
up arrow 6%

Microsoft Word
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 25 votes.

Gender

Female
76 %
Male
24 %

Years of Experience

Less than 1 year
5%
1-4 years
45%
5-9 years
27%
10-19 years
14%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 78%
vision benefits Vision: 68% employee benefits None: 12%