What They Do: Compensation, benefits, and job analysis specialists conduct an organization’s compensation and benefits programs.
Work Environment: Compensation, benefits, and job analysis specialists work in nearly every industry. They typically work in offices, and most work full time during regular business hours.
How to Become One: Compensation, benefits, and job analysis specialists need a combination of a bachelor’s degree and related work experience.
Salary: The median annual wage for compensation, benefits, and job analysis specialists is $64,120.
Job Outlook: Employment of compensation, benefits, and job analysis specialists is projected to grow 7 percent over the next ten years, about as fast as the average for all occupations.
Related Careers: Compare the job duties, education, job growth, and pay of compensation, benefits, and job analysis specialists with similar occupations.
Following is everything you need to know about a career as a compensation, benefits, and job analysis specialist with lots of details. As a first step, take a look at some of the following jobs, which are real jobs with real employers. You will be able to see the very real job career requirements for employers who are actively hiring. The link will open in a new tab so that you can come back to this page to continue reading about the career:
Designs and implements compensation programs, to enhance career development and maintain competitive offerings * Researches and analyzes competitive compensation practices in the job market; for both ...
About This Opportunity The Compensation Specialist is mainly responsible for the execution and administration of our compensation , sales incentive plans & awards, reporting on results, and ...
Human Resources Department HR Specialist - Compensation and Benefits Walker Industries About Walker Walker Industries, a fifth-generation, family-owned company founded in 1887, operates from its base ...
The Payroll & Benefits Specialist is able to use payroll and benefits software with accuracy and efficiency. Confidentiality and integrity are very important qualities for an administrator. If you ...
The Royal Canadian Mint is hiring a Pay and Benefits Specialist who can thrive in a dynamic and inclusive environment. Reporting to the Director, Total Compensation & HRMIS, the Pay and Benefits ...
... Benefits Professional designation a strong asset. * • Experience in general accounting practices an asset
Compensation, benefits, and job analysis specialists conduct an organization's compensation and benefits programs. They also evaluate position descriptions to determine details such as classification and salary.
Compensation, benefits, and job analysis specialists typically do the following:
Some specialists perform tasks within all areas of compensation, benefits, and job analysis. Others specialize in a specific area.
Compensation specialists assess the organization's pay structure. They research compensation trends and review surveys to determine how their organization's pay compares with that of other organizations in a particular industry and region. They often perform complex data or cost analyses to evaluate compensation policies. They also ensure that the organization's pay practices comply with federal and state laws and regulations, such as workers' compensation, minimum wage, overtime, and equal pay laws.
Benefits specialists administer the organization's benefits programs, which include retirement plans, leave policies, wellness programs, and insurance policies, such as health, life, and disability insurance. They research and analyze benefits plans, policies, and programs, and make recommendations based on their analysis. They frequently monitor government regulations, legislation, and benefits trends to ensure that their programs are current, legal, and competitive. They also work closely with insurance brokers and benefits carriers and manage the enrollment, renewal, and delivery of benefits to the organization's employees.
Job analysis specialists, also known as position classifiers, evaluate positions by writing or assigning job descriptions, determining position classifications, and preparing salary scales. When an organization introduces a new job or reviews existing jobs, specialists must research and make recommendations to managers on the status, description, classification, and salary of those jobs.
Compensation, benefits, and job analysis specialists hold about 100,600 jobs. The largest employers of compensation, benefits, and job analysis specialists are as follows:
|Insurance carriers and related activities||15%|
|Professional, scientific, and technical services||12%|
|Management of companies and enterprises||11%|
|Local government, excluding education and hospitals||8%|
|Healthcare and social assistance||7%|
Compensation, benefits, and job analysis specialists work in nearly every industry.
They typically work in offices.
Most compensation, benefits, and job analysis specialists work full time.
Get the education you need: Find schools for Compensation, Benefits, and Job Analysis Specialists near you!
Compensation, benefits, and job analysis specialists need a combination of a bachelor's degree and related work experience.
Employers typically require that compensation, benefits, and job analysis specialists have a bachelor's degree. Many specialists have a degree in human resources, business administration, finance, communication, or a related field. Some employers may accept additional related work experience in lieu of a degree.
Not all colleges and universities offer an undergraduate degree in human resources, but many offer courses in human resources management, compensation analysis, and benefits administration. Students with a background in other disciplines may benefit from taking courses in business, management, finance, and accounting.
Compensation, benefits, and job analysis specialists must have related work experience. Employers commonly require that the experience includes performing compensation analysis, benefits administration, or general human resources work. Experience in related fields such as finance, insurance, or business administration, also may be beneficial. Some workers may gain this experience through internships. However, most gain experience from working in human resources occupations, such as human resources specialists.
Although certification is not required, it can demonstrate professional expertise. Some employers prefer to hire certified candidates, but many employers will have their employees become certified after they are already working. Certification programs often require several years of related work experience in order to qualify for the credential.
Many associations for human resources workers offer classes to enhance the skills of their members. Some associations, including the International Foundation of Employee Benefit Plans and WorldatWork, offer certification programs that specialize in compensation and benefits. Others, including the HR Certification Institute and the Society for Human Resource Management, offer general human resources credentials.
Compensation, benefits, and job analysis specialists may advance to a compensation and benefits manager or a human resources manager position. Specialists typically need several years of work experience to advance.
Analytical skills. Compensation, benefits, and job analysis specialists perform data or cost analyses to form logical conclusions related to wages and benefits. They also need to pay attention to the details of contracts and laws.
Business skills. Specialists must understand basic finance and accounting. They help set initial wages and benefits packages for new employees.
Communication skills. Specialists often work with employees throughout their organization to provide information on compensation and benefits. They may give presentations or advise managers or employees about compensation policies or benefit plans.
Critical-thinking skills. Specialists evaluate job positions, salary scales, promotion practices, and other compensation and benefits policies.
The median annual wage for compensation, benefits, and job analysis specialists is $64,120. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $42,760, and the highest 10 percent earned more than $106,160.
The median annual wages for compensation, benefits, and job analysis specialists in the top industries in which they work are as follows:
|Management of companies and enterprises||$77,450|
|Professional, scientific, and technical services||$77,030|
|Local government, excluding education and hospitals||$63,410|
|Insurance carriers and related activities||$62,400|
|Healthcare and social assistance||$60,860|
Most compensation, benefits, and job analysis specialists work full time.
Employment of compensation, benefits, and job analysis specialists is projected to grow 7 percent over the next ten years, about as fast as the average for all occupations.
About 9,300 openings for compensation, benefits, and job analysis specialists are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Organizations will continue to hire benefits specialists to analyze, select, and update their benefits policies. Employee wellness programs are a popular way to reduce healthcare costs. Organizations will need benefits specialists to design, evaluate, and administer these programs.
In addition, organizations must offer competitive compensation packages to attract and keep highly qualified workers. To allocate their compensation funds effectively, many organizations use strategies such as pay-for-performance plans, which may include bonuses, paid leave, or other incentives as part of the compensation package. Organizations will need specialists to analyze these compensation policies and plans and to ensure that they are both competitive and cost effective.
|Occupational Title||Employment, 2021||Projected Employment, 2031||Change, 2021-31|
|Compensation, benefits, and job analysis specialists||100,600||107,200||7||6,600|
A portion of the information on this page is used by permission of the U.S. Department of Labor.