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The differences between benefits advisors and compensation specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefits advisor and a compensation specialist. Additionally, a benefits advisor has an average salary of $71,377, which is higher than the $67,722 average annual salary of a compensation specialist.
The top three skills for a benefits advisor include insurance benefits, patients and inbound calls. The most important skills for a compensation specialist are human resources, compensation programs, and customer service.
| Benefits Advisor | Compensation Specialist | |
| Yearly salary | $71,377 | $67,722 |
| Hourly rate | $34.32 | $32.56 |
| Growth rate | 7% | 7% |
| Number of jobs | 48,023 | 32,642 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 63% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A benefits advisor specializes in devising benefits programs and strategies for a workforce, ensuring they are well-compensated for their hard work. Typically, their responsibilities revolve around performing research and analysis to identify the needs of employees in a company, studying the benefit programs of competitors, and assessing the existing programs while putting the company's welfare into consideration. They must prepare reports and presentations for clients, provide cost-estimates and business plans, and evaluate risks, all while adhering to the company's policies and regulations, including its vision and mission.
A compensation specialist is responsible for evaluating the organization's benefits package for the employees, following the state regulations and legislation procedures. Compensation specialists identify the staff needs and develop opportunities that would maximize productivity and increase efficiency. They also analyze the market performance to adjust compensation rates according to roles as needed with the coordination of the finance department. A compensation specialist facilitates orientations for new programs and informs the employees about any changes in the payment system.
Benefits advisors and compensation specialists have different pay scales, as shown below.
| Benefits Advisor | Compensation Specialist | |
| Average salary | $71,377 | $67,722 |
| Salary range | Between $46,000 And $109,000 | Between $41,000 And $110,000 |
| Highest paying City | Vancouver, WA | San Francisco, CA |
| Highest paying state | Washington | Washington |
| Best paying company | Chevron | Microsoft |
| Best paying industry | Government | - |
There are a few differences between a benefits advisor and a compensation specialist in terms of educational background:
| Benefits Advisor | Compensation Specialist | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between benefits advisors' and compensation specialists' demographics:
| Benefits Advisor | Compensation Specialist | |
| Average age | 45 | 45 |
| Gender ratio | Male, 41.2% Female, 58.8% | Male, 25.3% Female, 74.7% |
| Race ratio | Black or African American, 11.4% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.7% White, 61.6% American Indian and Alaska Native, 0.3% | Black or African American, 10.6% Unknown, 3.7% Hispanic or Latino, 15.4% Asian, 7.4% White, 62.6% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |