Compensation Specialist Salary

Earnings for Compensation Specialists in the United States come in at around $52K annually on average. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most Compensation Specialists like their work and job satisfaction is high. Men are in the minority of survey respondents, with female Compensation Specialists making up 78 percent. Respondents to the PayScale salary survey provided the data for this report.

$35,938 - $80,357
(Median)
$36K
$52K
$80K
MEDIAN: $52,194
10%
50%
90%

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$11.88 - $28.96
(Median)
$12
$18
$29
MEDIAN: $18.00
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$27K$54K$81K
Salary
$35,938 - $80,357  
   
Bonus
$0.00 - $7,000  
Profit Sharing
$514 - $4,913  
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).
)
$31,493 - $76,129  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 127
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$13$26$39
Hourly Rate
$11.88 - $28.96  
   
Overtime
$0.75 - $36.00  
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$26K$52K$78K
Bonus
$0.00 - $7,000  
   
Profit Sharing
$514 - $4,913  
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).
)
$31,493 - $76,129  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | 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


Compensation Specialists report a focused set of job skills. Fortunate workers who know Benefits & Compensation can expect a significant pay bump, scoring salaries 33 percent above average. Skills that seem to negatively impact pay include Microsoft Word, Microsoft Office, and Microsoft Excel. Most people experienced in Microsoft Excel also know Microsoft Word.

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. Workers with less than five years' experience earn around $45K on average, and those who have five to 10 years under their belts see a higher median salary of $51K. Compensation Specialists see a median salary of $61K after reaching one to two decades on the job. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $62K.

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

Late-Career
up arrow 31%

Experienced
up arrow 29%


National Average
$48,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 33%

National Average
$48,000


Microsoft Office
up arrow 7%


Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 23 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
5%
1-4 years
46%
5-9 years
27%
10-19 years
13%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 79%
vision benefits Vision: 71% employee benefits None: 10%
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