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The differences between benefits analysts 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 analyst and a compensation specialist. Additionally, a compensation specialist has an average salary of $67,722, which is higher than the $50,944 average annual salary of a benefits analyst.
The top three skills for a benefits analyst include customer service, HR and HRIS. The most important skills for a compensation specialist are human resources, compensation programs, and customer service.
| Benefits Analyst | Compensation Specialist | |
| Yearly salary | $50,944 | $67,722 |
| Hourly rate | $24.49 | $32.56 |
| Growth rate | 7% | 7% |
| Number of jobs | 20,211 | 32,642 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 63% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A Benefits Analyst is responsible for administering and communicating benefit programs for an organization. They attract and retain employees through researching, recommending, and explaining benefit programs.
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 analysts and compensation specialists have different pay scales, as shown below.
| Benefits Analyst | Compensation Specialist | |
| Average salary | $50,944 | $67,722 |
| Salary range | Between $36,000 And $70,000 | Between $41,000 And $110,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New Jersey | Washington |
| Best paying company | Amd | Microsoft |
| Best paying industry | Professional | - |
There are a few differences between a benefits analyst and a compensation specialist in terms of educational background:
| Benefits Analyst | Compensation Specialist | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between benefits analysts' and compensation specialists' demographics:
| Benefits Analyst | Compensation Specialist | |
| Average age | 45 | 45 |
| Gender ratio | Male, 27.8% Female, 72.2% | Male, 25.3% Female, 74.7% |
| Race ratio | Black or African American, 11.1% Unknown, 3.6% Hispanic or Latino, 15.2% Asian, 7.8% White, 61.8% 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% |