Compensation Specialist Salary

Earnings for Compensation Specialists in the United States come in at around $53K per year on average. Most Compensation Specialists survey respondents are women (75 percent). Job satisfaction is reported as high by the vast majority of workers. A large number enjoy medical while most get dental coverage. Vision coverage is also available to a fair number.

$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
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

  • 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


Survey takers who work as Compensation Specialists typically report just a few professional skills. Fortunate workers who know Benefits & Compensation command much higher paychecks, scoring salaries 29 percent above average. Skills that seem to negatively impact pay 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.


Relatively untried employees who have fewer than five years of experience earn around $46K on average. People who have worked for five to 10 years can expect a higher median salary of $55K. Compensation Specialists with one to two decades of relevant experience report an average salary of approximately $69K. For some reason, Compensation Specialists with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $61K.

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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