Senior Analyst, Compensation Salary
Senior Compensation Analysts in the United States take home an average $80K per year. Residence and career length each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Almost all receive medical and dental insurance and a fair number get vision plans. The majority of Senior Compensation Analysts (67 percent) who took the survey are women. The numbers in this rundown were provided by PayScale's salary survey participants.
|Salary||$61,791 - $101,851|
|Bonus||$517 - $14,681|
|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).)
|$61,324 - $107,139|
|Hourly Rate||$19.39 - $44.11|
|Bonus||$517 - $14,681|
|Total Pay (||$61,324 - $107,139|
Job Description for Senior Analyst, Compensation
Senior analysts for compensation are responsible for assisting with the development and implementation of compensation programs for their organization. They conduct extensive market analysis to research trends and compensation initiatives across their industry, as well as provide support to organizational executives for performance evaluation purposes. Senior analysts for compensation evaluate existing incentive plans and modify them according to business requirements and needs, as well as participate in compensation projects and annual review processes. Senior analysts for compensation answer compensation inquiries in a timely manner, create effective business partnerships, and help increase employee satisfaction through well-executed compensation programs.Read More...
One of their main responsibilities includes keeping a communication line open between the human resources department and all employees in their organization. Senior analysts for compensation also interpret relevant data and help implement compensation strategies. They maintain salary ranges, evaluate exemption status, and evaluate executive offers. Senior analysts for compensation should be proficient with analyzing business data, and processing results to suggest changes to company compensation plans. They report their progress to the compensation director or supervisor in their department.
A bachelor's degree in human resources, business administration, finance, or a related field is required for this position. Previous experience in a similar capacity is needed as well, and industry certifications may be preferred. Senior analysts for compensation must be proficient in basic computer software, including software programs. They should be able to multitask and work in a fast-paced environment, as well as work with other analysts to reach all company objectives.
Senior Analyst, Compensation 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.
Common Career Paths for Senior Analyst, Compensation
Senior Compensation Analysts who transition into a Director of Compensation role may receive large pay increases as the latter position pays an average $123K per year. Senior Compensation Analysts typically move into roles as Compensation Managers or Compensation Managers, and those positions pay $11K more and $18K more, respectively.
Popular Skills for Senior Analyst, Compensation
Senior Compensation Analysts report using a pretty varied skill set on the job. Most notably, skills in Microsoft Excel, Benefits & Compensation, Data Analysis, and Microsoft Office are correlated to pay that is above average. Most people experienced in Data Analysis also know Microsoft Office.
Pay by Experience Level for Senior Analyst, Compensation
Pay by Experience for a Senior Analyst, Compensation has a positive trend. An entry-level Senior Analyst, Compensation with less than 5 years of experience can expect to earn an average total compensation of $74,000 based on 114 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Analyst, Compensation with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $85,000 based on 132 salaries. An experienced Senior Analyst, Compensation which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $92,000 based on 78 salaries. A Senior Analyst, Compensation with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $91,000 based on 39 salaries.
Pay Difference by Location
With a pay rate for Senior Compensation Analysts that is 19 percent greater than the national average, Houston offers a comfortable salary for those in this profession. Senior Compensation Analysts will also find cushy salaries in Dallas (+17 percent), Seattle (+10 percent), Irvine (+7 percent), and Boston (+4 percent). Memphis is the lowest-paying area, 18 percent south of the national average. Below-median salaries also turn up in St. Louis and San Diego (17 percent lower and 9 percent lower, respectively).
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Key Stats for Senior Analyst, Compensation
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