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Compensation Specialist Salary

Earnings for Compensation Specialists in the United States come in at around $50K per year on average. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Men are in the minority of survey respondents, with female Compensation Specialists making up 74 percent. Most Compensation Specialists report high levels of job satisfaction. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
$35,252 - $82,768
(Median)
35K
50K
65K
83K
MEDIAN: $50,090
10%
50%
75%
90%

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$11.48 - $27.86
(Median)
11
15
18
21
28
MEDIAN: $18.00
10%
25%
50%
75%
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
$35,252 - $82,768  
   
Bonus
$0.00 - $5,847  
Profit Sharing
$968 - $2,543  
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).
)
$30,776 - $79,070  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 111
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$50$100$150
Hourly Rate
$11.48 - $27.86  
   
Overtime
$0.75 - $143.00  
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$100K$200K$300K
Bonus
$0.00 - $5,847  
   
Profit Sharing
$968 - $2,543  
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).
)
$30,776 - $79,070  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 44
United States (change)

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


Typical Compensation Specialists report a focused set of job skills. Those who have experience with Microsoft Excel, Microsoft Office, and Microsoft Word can expect to be compensated well for these skills. Skills that are correlated to lower pay, on the other hand, include Microsoft Word and Microsoft Office. Those proficient in Microsoft Excel are, more often than not, also skilled in Microsoft Word.

Pay by Experience Level for Compensation Specialist

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


For Compensation Specialists, experience does not seem to be a major factor in determining pay. Salaries for inexperienced workers average out to $50K, and those with five to 10 years' experience earn a higher median of $44K. Compensation Specialists with one to two decades of relevant experience report an average salary of approximately $61K. 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

Experience Affects Compensation Specialist Salaries

Late-Career
up arrow 38%

Experienced
up arrow 33%


National Average
$46,000


Skills That Affect Compensation Specialist Salaries

National Average
$46,000

Microsoft Excel
up arrow 3%

Microsoft Office
up arrow 5%

Microsoft Word
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 26 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
6%
1-4 years
44%
5-9 years
27%
10-19 years
15%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 77%
vision benefits Vision: 67% employee benefits None: 13%