Compensation Specialist Salary

Median pay for Compensation Specialists in the United States is around $60K per year. Residence and experience level each impact pay for this group, with the former having the largest influence. Men are in the minority of survey respondents, with female Compensation Specialists making up 72 percent. Most workers in this position report high levels of job satisfaction. Medical and dental benefits are awarded to a large number, and a fair number earn vision coverage.

$42,687 - $86,038
$43K
$60K
$86K
MEDIAN: $60,254
10%
50%
90%

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$13.08 - $30.68
$13
$19
$31
MEDIAN: $19.14
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$29K$58K$87K
Salary
$42,687 - $86,038  
   
Bonus
$-0.49 - $9,729  
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).
)
$34,991 - $82,418  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 107
© PayScale, Inc. @ www.payscale.com
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
$13.08 - $30.68  
   
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
$-0.49 - $9,729  
   
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).
)
$34,991 - $82,418  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 38
© PayScale, Inc. @ www.payscale.com

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

  • Write job descriptions and maintain database of all job descriptions.
  • Assist in preparation of merit increase and incentive programs and budgeting.
  • Design and prepare ad hoc compensation and budget related reports for management.
  • 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.

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 26 percent and 17 percent, respectively. Skills that pay less than market rate include Microsoft Office, Microsoft Word, and Microsoft Excel. The majority of those who know 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.


Salaries of relatively inexperienced workers fall in the neighborhood of $51K, but folks who have racked up five to 10 years see a notably higher median of $70K. On average, Compensation Specialists make $67K following one to two decades on the job. Seasoned veterans with 20 years under their belts enjoy a median income of $65K.

Pay Difference by Location

National Average: $55,912

Larger city markers indicate a job is popular in that location.

Compensation Specialists will find that Dallas offers an impressive pay rate, one which exceeds the national average by 47 percent. Compensation Specialists will also find cushy salaries in New York (+25 percent). Place of residence plays a huge part in a Compensation Specialist's salary, with Dayton Compensation Specialists earning salaries that are 39 percent less than the national average.

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.
Less than 1 year
3%
1-4 years
51%
5-9 years
20%
10-19 years
19%
20 years or more
6%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Compensation Specialist Salaries

▲26%

▲20%

▲16%

National Average
$56,000

▼10%

Skills That Affect Compensation Specialist Salaries


Data Analysis
▲17%

National Average
$56,000




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
51%
5-9 years
20%
10-19 years
19%
20 years or more
6%

Common Health Benefits

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