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Benefit Specialist Vs Compensation Analyst

The differences between benefit specialists and compensation analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefit specialist and a compensation analyst. Additionally, a compensation analyst has an average salary of $66,487, which is higher than the $48,756 average annual salary of a benefit specialist.

The top three skills for a benefit specialist include customer service, HR and patients. The most important skills for a compensation analyst are HR, compensation programs, and HRIS.

Benefit specialist vs compensation analyst overview

Benefit SpecialistCompensation Analyst
Yearly Salary$48,756$66,487
Hourly rate$23.44$31.96
Growth Rate7%7%
Number Of Jobs31,66319,344
Job Satisfaction-5
Most Common DegreeBachelor's Degree, 59%Bachelor's Degree, 73%
Average Age4545
Years Of Experience66

What does a Benefit Specialist do?

A benefits specialist is responsible for analyzing and processing the compensation package of an organization, ensuring that the salary and benefits received by an employee adhere to the current legislation procedures. Benefits specialists develop benefits programs, adjusting pension plans and insurance options as needed, and updating the employees on recent updates and changes. A benefits specialist responds to employees' inquiries, addresses their concerns, and manages benefits issues. A benefits specialist must have a clear understanding of benefits policies and processes to educate employees about the benefits structure.

What does a compensation analyst do?

Compensation analysts are responsible for managing company compensation programs by evaluating and analyzing employees' salaries, assist the planning and development of a new and modified sales compensation plan, as well as managing sales compensation short-term incentive programs. The compensation programs are used to improve hiring and boost employee retention. These analysts are skilled and knowledgeable about managing labor costs, benefits structures, and compensation analysis to determine if the employees are fairly compensated.

Benefit specialist vs compensation analyst salary

Benefit specialists and compensation analysts have different pay scales, as shown below.

Benefit SpecialistCompensation Analyst
Average Salary$48,756$66,487
Salary RangeBetween $34,000 And $68,000Between $48,000 And $90,000
Highest Paying CitySan Francisco, CASacramento, CA
Highest Paying StateConnecticutWashington
Best Paying CompanyQorvoMeta
Best Paying IndustryFinanceTechnology

Differences between benefit specialist and compensation analyst education

There are a few differences between a benefit specialist and a compensation analyst in terms of educational background:

Benefit SpecialistCompensation Analyst
Most Common DegreeBachelor's Degree, 59%Bachelor's Degree, 73%
Most Common MajorBusinessBusiness
Most Common CollegeUniversity of PennsylvaniaUniversity of Pennsylvania

Benefit specialist vs compensation analyst demographics

Here are the differences between benefit specialists' and compensation analysts' demographics:

Benefit SpecialistCompensation Analyst
Average Age4545
Gender RatioMale, 21.1% Female, 78.9%Male, 36.2% Female, 63.8%
Race RatioBlack or African American, 11.0% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.5% White, 62.2% American Indian and Alaska Native, 0.3%Black or African American, 10.5% Unknown, 3.9% Hispanic or Latino, 15.0% Asian, 7.7% White, 62.3% American Indian and Alaska Native, 0.5%
LGBT Percentage9%9%

Differences between benefit specialist and compensation analyst duties and responsibilities

Benefit Specialist Example Responsibilities.

  • Manage various employee program such as life, medical, dental pension, and HSA accounts.
  • Examine HMO documents to verify eligibility to process or reject into or from a manage care plan when necessary.
  • Input daily time and PTO, manage benefits, report new hires, input sales, oversee accounts receivable.
  • Create reports using SQL database and manage reports, perform from internet-base tools for research projects need for client insight.
  • Implement new vendor for FSA administration and manage outstanding issues through continuous follow-up and vendor accountability.
  • Analyze, process and manage FMLA claims to determine eligibility and certification in compliance with state and federal regulations.
  • Show More

Compensation Analyst Example Responsibilities.

  • Manage vendor relationships with fiscal oversight, and ongoing cost management.
  • Manage long-term incentive plan administration including SARP and stock option granting programs (LTI).
  • Create and manage communication materials via PowerPoint publish to sales organization.
  • Report and manage company healthcare budget and direct all vendor relationships.
  • Manage special projects, develop senior level presentations and handle communications on behalf of SVP
  • Provide oversight of sales compensation short-term incentive programs.
  • Show More

Benefit specialist vs compensation analyst skills

Common Benefit Specialist Skills
  • Customer Service, 13%
  • HR, 8%
  • Patients, 5%
  • HRIS, 5%
  • Life Insurance, 5%
  • Cobra, 5%
Common Compensation Analyst Skills
  • HR, 12%
  • Compensation Programs, 7%
  • HRIS, 6%
  • PowerPoint, 5%
  • Data Analysis, 5%
  • Customer Service, 4%

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