Compensation Specialist Salary

Median pay for Compensation Specialists in the United States lies in the neighborhood of $60K per year. Geography and years of experience each impact pay for this group, with the former having the largest influence. A large number have medical and dental plans, and a fair number have vision insurance. Work is enjoyable for Compensation Specialists, who typically claim high levels of job satisfaction. Men are in the minority of survey respondents, with female Compensation Specialists making up 75 percent. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$43,216 - $92,895
$43K
$60K
$93K
MEDIAN: $60,235
10%
50%
90%

Add this chart to your site: 640px    300px

$13.59 - $31.23
$14
$19
$31
MEDIAN: $19.43
10%
50%
90%

Add this chart to your site: 640px    300px

$0$93K
Salary $43,216 - $92,895
Bonus $-0.49 - $10,125
Profit Sharing $2,000
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).
)
$38,651 - $93,186
  • Country: United States
  • Currency: USD
  • Updated: 21 Sep 2017
  • Individuals Reporting: 110
Hourly Data $0$32
Hourly Rate $13.59 - $31.23
Overtime $17.99 - $32.55
Annual Data $0$93K
Bonus $-0.49 - $10,125
Profit Sharing $2,000
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).
)
$38,651 - $93,186
  • Country: United States
  • Currency: USD
  • Updated: 21 Sep 2017
  • Individuals Reporting: 33

Find Out Exactly What You Should Be Paid

United States (change)

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 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 Specialist Job Listings

Popular Skills for Compensation Specialist


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 for Compensation Specialist

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

National Average: $57,682

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.

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
75 %
Male
25 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 24 votes.
Less than 1 year
3%
1-4 years
51%
5-9 years
19%
10-19 years
22%
20 years or more
5%
ADVERTISEMENT
Location:
Years in Fields/Career:
United States (change)

Experience Affects Compensation Specialist Salaries

▲22%

▲16%

▲13%

National Average
$58,000

▼12%

Skills That Affect Compensation Specialist Salaries


Data Analysis
▲14%

National Average
$58,000




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 24 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
3%
1-4 years
51%
5-9 years
19%
10-19 years
22%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 83%
vision benefits
Vision: 74%
no benefits
None: 10%
ADVERTISEMENT