Compensation Specialists in the United States take home approximately $57K per year on average. Geography and tenure each impact pay for this group, with the former having the largest influence. Medical and dental coverage is claimed by a large number, and a fair number earn vision coverage. Men are in the minority of survey respondents, with female Compensation Specialists making up 74 percent. Job satisfaction is high and work is enjoyable for most Compensation Specialists. This report is based on responses to the PayScale salary survey.

$42,622 - $79,508
(Median)
$43K
$57K
$80K
MEDIAN: $57,259
10%
50%
90%

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$12.95 - $30.64
(Median)
$13
$19
$31
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
$42,622 - $79,508  
   
Bonus
$0.00 - $8,778  
Profit Sharing
$2,000  
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).
)
$33,242 - $77,473  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 111
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
$12.95 - $30.64  
   
Overtime
$18.25 - $37.81  
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 - $8,778  
   
Profit Sharing
$2,000  
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).
)
$33,242 - $77,473  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 45
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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 only report a few specific skills. Most notably, facility with Benefits & Compensation and Data Analysis are correlated to pay that is significantly above average, leading to increases of 23 percent and 16 percent, respectively. Skills that pay less than market rate include Microsoft Office, Microsoft Word, 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.


Although individuals who have less than five years' experience earn $49K on average, people with five to 10 years benefit from a notably larger average of $65K. Compensation Specialists see a median salary of $62K after reaching one to two decades on the job. Seasoned veterans with 20 years under their belts enjoy a median income of $63K.

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

United States (change)

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Experience Affects Compensation Specialist Salaries


Late-Career
up arrow 20%


National Average
$53,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 23%

Data Analysis
up arrow 16%

National Average
$53,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 21 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
3%
1-4 years
54%
5-9 years
21%
10-19 years
15%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 86%
medical benefits
Vision: 72%
dental benefits
None: 9%
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