The average pay for a Compensation Specialist is C$34.85 per hour.
The average pay for a Compensation Specialist is C$66,910 per year.
|Salary||C$50,335 - C$86,822|
|Bonus||C$2,883 - C$10,304|
|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).)
|C$50,576 - C$90,453|
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.Read More...
Compensation specialists work well in a team setting with other human resource or financial professionals to achieve all compensation goals in a timely manner. However, they can also perform excellently on their own with minimal supervision. They have superior verbal and written abilities and actively participate during business meetings to suggest new ways to improve efficiency and effectiveness of existing compensation programs. Some of their main functions include attracting and retaining valuable staff by motivating them with compensation and benefit incentives. They also analyze job responsibilities to assign compensation status. They serve as a point of contact for personnel regarding compensation inquiries and conduct job evaluations on a regular basis. These individuals are also responsible for changing salary and hourly compensation structure to comply with governmental laws and satisfy employee needs. Compensation specialists work in a fast-paced environment and use their advanced multitasking skills to complete several compensation projects at once.
A bachelor's degree in human resources, finance, economics, or a related field is required for this job. Previous years of work experience in a compensation capacity can be helpful. Industry and leadership certifications are a plus. (Copyright 2019 PayScale.com)
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