Compensation Specialist Salary

The average Compensation Specialist in the United States earns approximately $52K per year. The majority of workers are highly satisfied with their job. Most Compensation Specialists survey respondents are women (76 percent). Medical benefits are awarded to a large number, and a fair number earn dental coverage. The data for this synopsis comes from respondents who took the PayScale salary survey.

$36,009 - $80,015

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$11.92 - $28.90

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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
$36,009 - $80,015  
   
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).
)
$31,577 - $75,870  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 129
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
$11.92 - $28.90  
   
Overtime
$1.45 - $36.42  
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 - $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).
)
$31,577 - $75,870  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 52
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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 note just a narrow range of job skills. Fortunate workers who know Benefits & Compensation command much higher paychecks, scoring salaries 31 percent above average. Skills that are correlated to lower pay, on the other hand, include Microsoft Word, Microsoft Office, and Microsoft Excel. 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.


Compensation Specialists do not generally earn higher incomes from more experience in the field. Relatively untried employees who have less than five years' experience have a median salary of $45K. Those who have been around for five to 10 years can expect to take home more — $51K on average. After working for 10 to 20 years, Compensation Specialists make a median salary of $61K. Compensation Specialists who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $62K on average.

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 30%

Experienced
up arrow 27%


National Average
$48,000


Skills That Affect Compensation Specialist Salaries

Benefits & Compensation
up arrow 31%

National Average
$48,000


Microsoft Office
up arrow 8%


Job Satisfaction

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

Gender

Female
76 %
Male
24 %

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: 86% dental benefits Dental: 80%
vision benefits Vision: 70% employee benefits None: 10%
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