Compensation Specialists in the United States take home an average $59K annually. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Most enjoy medical and dental coverage in this occupation, and a strong majority get vision benefits. For the most part, Compensation Specialists enjoy their work and report high levels of job satisfaction. Men are in the minority of survey respondents, with female Compensation Specialists making up 72 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$43,135 - $82,784
$43K
$59K
$83K
MEDIAN: $59,122
10%
50%
90%

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$13.04 - $30.92
$13
$19
$31
MEDIAN: $19.05
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$28K$56K$84K
Salary
$43,135 - $82,784  
   
Bonus
$0.00 - $9,162  
Profit Sharing
$2,250  
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).
)
$34,166 - $81,174  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 114
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$14$28$42
Hourly Rate
$13.04 - $30.92  
   
Overtime
$18.19 - $36.00  
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$28K$56K$84K
Bonus
$0.00 - $9,162  
   
Profit Sharing
$2,250  
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).
)
$34,166 - $81,174  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 41

Find Out Exactly What You Should Be Paid

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


Overall, survey participants reported applying a fair number of skills to their work. Most notably, facility with Benefits & Compensation and Data Analysis are correlated to pay that is significantly above average, leading to increases of 25 percent and 11 percent, respectively. Skills that seem to negatively impact pay include Microsoft Office, Microsoft Word, and Microsoft Excel. Most people familiar with 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.


Respondents with less than five years' experience take home $51K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $69K. Compensation Specialists bring in $63K after working for 10 to 20 years. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $65K.

Compensation Specialist Reviews

Q: 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

Key Stats for Compensation Specialist

Gender

Female
72 %
Male
28 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 17 votes.
052
Less than 1 year
3%
1-4 years
53%
5-9 years
21%
10-19 years
17%
20 years or more
6%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Compensation Specialist Salaries


Late-Career
up arrow 18%


National Average
$55,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 25%

Data Analysis
up arrow 11%

National Average
$55,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 17 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

Less than 1 year
3%
1-4 years
53%
5-9 years
21%
10-19 years
17%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 83%
vision benefits
Vision: 73%
dental benefits
None: 10%
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