$60,979
Avg. Salary
$19.61
Avg. Hourly Rate

Average additional compensation:

$4,880

Bonus

$2,500

Profit Sharing

$10,000

Commission

What am I worth?
How should I pay?

The average pay for a Compensation Specialist is $19.61 per hour.

The average pay for a Compensation Specialist is $60,979 per year.

10%
$13.30
10%
$19.61
50%
$31.55
90%
90%
MEDIAN $19.61
10%
$42k
10%
$61k
50%
$93k
90%
90%
MEDIAN $60,979
$42,470 - $92,692
$42K
$61K
$93K
MEDIAN: $60,979
10%
50%
90%

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$13.30 - $31.55
$13
$20
$32
MEDIAN: $19.61
10%
50%
90%

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$0$92K
Salary $42,470 - $92,692
Bonus $205 - $9,978
Profit Sharing $103 - $7,272
Commission $10,000
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).
)
$38,532 - $92,879
  • Country: United States
  • Currency: USD
  • Updated: 13 Mar 2019
  • Individuals Reporting: 210
Hourly Data $0$53
Hourly Rate $13.30 - $31.55
Overtime $18.47 - $53.06
Annual Data $0$92K
Bonus $205 - $9,978
Commission $10,000
Profit Sharing $103 - $7,272
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).
)
$38,532 - $92,879
  • Country: United States
  • Currency: USD
  • Updated: 13 Mar 2019
  • Individuals Reporting: 58

Job Description

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 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.

Job Listings

Popular Skills


Survey results show that Compensation Specialists use a fair number of skills. 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 16 percent, respectively. At the other end of the pay range are skills like Microsoft Office, Microsoft Word, and Microsoft Excel. Most people experienced in Microsoft Excel also know Microsoft Word.

Pay by Experience Level

Pay by Experience for a Compensation Specialist has a positive trend. An entry-level Compensation Specialist with less than 5 years of experience can expect to earn an average total compensation of $51,000 based on 96 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Compensation Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $70,000 based on 40 salaries. An experienced Compensation Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $67,000 based on 30 salaries. A Compensation Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $65,000 based on 9 salaries.

Pay Difference by Location

22%

National Average: $57,506

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

For Compensation Specialists, Dallas provides a pay rate that is 45 percent greater than the national average. Compensation Specialists will also find cushy salaries in New York (+24 percent). Place of residence plays a huge part in a Compensation Specialist's salary, with Dayton Compensation Specialists earning salaries that are 40 percent less than the national average.

Job Reviews

Q: What is it like working as a Compensation Specialist?

Compensation Specialist in Boise:
Pros: Working with outside organizations and ensuring that our employees receive the best medical treatment.
Cons: Politics

Compensation Specialist in Oxnard:
"Eye opening."
Pros: The interaction with the employees
Cons: the pay

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

Gender

Female
75 %
Male
25 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 49 votes.
Less than 1 year
4%
1-4 years
51%
5-9 years
21%
10-19 years
20%
20 years or more
5%

How Experience Affects Salaries

▲22%

▲16%

▲13%

National Average
$58,000

▼12%

How Skills Affect Salaries


Data Analysis
▲14%

National Average
$58,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 49 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
4%
1-4 years
51%
5-9 years
21%
10-19 years
20%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 83%
vision benefits
Vision: 75%
no benefits
None: 10%