1. Stanford University
Stanford, CA • Private
In-State Tuition
$51,354
Enrollment
7,083
What is a Compensation Adjuster?
The average compensation adjuster salary is $59,246. The most common degree is a bachelor's degree degree with an business major. It usually takes 2-4 years of experience to become a compensation adjuster. Compensation adjusters with a Medical Assistant certification earn more money. Between 2018 and 2028, the career is expected to grow -4% and produce -13,000 job opportunities across the U.S.
What Does a Compensation Adjuster Do
There are certain skills that many compensation adjusters have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and detail oriented.
How To Become a Compensation Adjuster
If you're interested in becoming a compensation adjuster, one of the first things to consider is how much education you need. We've determined that 57.9% of compensation adjusters have a bachelor's degree. In terms of higher education levels, we found that 5.6% of compensation adjusters have master's degrees. Even though most compensation adjusters have a college degree, it's possible to become one with only a high school degree or GED.
Compensation Adjuster Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of claims adjuster you might progress to a role such as office manager eventually. Later on in your career, you could end up with the title accounts receivable manager.
Compensation Adjuster
Accounts Receivable Manager
6 Years
Senior Claims Adjuster
7 Years
Commercial Account Manager
8 Years
Claims Supervisor
6 Years
Senior Claims Examiner
7 Years
Risk Manager
8 Years
Show More
Average Salary for a Compensation Adjuster
Compensation Adjusters in America make an average salary of $59,246 per year or $28 per hour. The top 10 percent makes over $89,000 per year, while the bottom 10 percent under $39,000 per year.
Average Compensation Adjuster Salary
$59,246 Yearly$28.48 hourly
What Am I Worth?
Roles and Types of Compensation Adjuster
There are several types of compensation adjuster, including:
Claims Adjuster
Role:
Claims adjusters spend a lot of their time evaluating insurance claims. Sometimes they decide the claims are valid; other times not so much. This position is full-time and isn't always located in the office. Many times you'll have to leave to inspect properties, such as damaged buildings and vehicles. This will help you assess the claim properly.
Typically, employers only require a high school diploma, but some positions can require a higher education. Or at least some insurance-related work experience. If you're looking for a job where you don't have to sit at a desk all day, this might just be the perfect fit for you.
- Average Salary: $51,116
- Degree: Bachelor's Degree
Adjuster
Role:
An adjuster or claims adjuster is an agent who looks into claims to determine if or how much the insurer should pay the insured for damage. As an adjuster, you have to determine effective ways to settle all claims. Your job requires you to research records and interview witnesses to understand the nature and what happened before the claim. You are also expected to find out the cost of fixing the damage and monitor the services of the repairer to ensure the damages are fixed. You will also need to create detailed reports of the damage and everything related to the claim.
To get a job as an adjuster, you must have a high school diploma or a bachelor's degree in finance or a related field. Also, you must possess superior communication and negotiation skills. Furthermore, you must have in-depth knowledge of spreadsheet software. With these, you will earn an average of $40,150 per year or $19.3 per hour.
- Average Salary: $49,396
- Degree: Bachelor's Degree
Auto Claims Adjuster
Role:
Auto claims adjusters are usually employed by insurance firms to inspect cars damaged in collisions and to consult with claimants on payments. The claims adjusters also go to the vehicle scene, inspect the damage, and determines how much the insurance provider can pay the customer for the necessary maintenance costs.
Auto claims adjusters may question witnesses and review police records to collect information about the crash scene. Jobs require that they discuss parts and replacement prices with car repair shops and vendors and negotiate compensation rates with applicants. A lot of hours could be spent in transit or in a busy car repair store. The tasks of the position include a specialized skill set.
Because auto claims adjusters must inspect disabled cars and evaluate repair costs, employers favor standardized auto repair preparation. Aspiring auto claims adjusters can receive a professional credential or an associate degree in auto body repair technology at a vocational school or community college. The next move is to acquire the requisite license. Licensing standards for auto claims adjusters vary by jurisdiction but can include pre-licensing training or experience and passing a licensing test.
- Average Salary: $52,621
- Degree: Bachelor's Degree
States With The Most Compensation Adjuster Jobs
Number Of Compensation Adjuster Jobs By State
| Rank | State | Number of Jobs | Average Salary |
|---|---|---|---|
| 1 | California | 333 | $63,356 |
| 2 | Texas | 182 | $59,438 |
| 3 | Florida | 147 | $51,219 |
| 4 | New York | 132 | $66,899 |
| 5 | Illinois | 112 | $59,470 |
| 6 | Georgia | 109 | $59,420 |
| 7 | Pennsylvania | 90 | $64,646 |
| 8 | Arizona | 88 | $53,914 |
| 9 | Massachusetts | 86 | $68,224 |
| 10 | New Jersey | 84 | $69,045 |
| 11 | Minnesota | 78 | $57,445 |
| 12 | North Carolina | 71 | $69,951 |
| 13 | Washington | 67 | $58,308 |
| 14 | Colorado | 61 | $55,394 |
| 15 | Ohio | 58 | $60,363 |
| 16 | Virginia | 57 | $66,917 |
| 17 | Tennessee | 50 | $52,010 |
| 18 | Missouri | 49 | $56,808 |
| 19 | Oregon | 48 | $58,810 |
| 20 | Maryland | 44 | $68,214 |
| 21 | Michigan | 44 | $56,891 |
| 22 | Indiana | 40 | $48,514 |
| 23 | Wisconsin | 35 | $56,684 |
| 24 | Kansas | 35 | $53,241 |
| 25 | Connecticut | 31 | $69,219 |
| 26 | Iowa | 31 | $54,167 |
| 27 | South Carolina | 28 | $64,787 |
| 28 | Idaho | 27 | $54,988 |
| 29 | Nevada | 24 | $56,527 |
| 30 | Nebraska | 24 | $54,467 |
| 31 | Louisiana | 23 | $53,850 |
| 32 | Alabama | 23 | $51,919 |
| 33 | Kentucky | 22 | $68,823 |
| 34 | North Dakota | 21 | $51,540 |
| 35 | Oklahoma | 21 | $54,068 |
| 36 | Utah | 21 | $50,698 |
| 37 | Arkansas | 20 | $53,319 |
| 38 | Montana | 17 | $53,887 |
| 39 | South Dakota | 16 | $58,229 |
| 40 | Rhode Island | 13 | $70,231 |
| 41 | New Hampshire | 12 | $65,638 |
| 42 | New Mexico | 12 | $54,106 |
| 43 | Mississippi | 12 | $48,854 |
| 44 | Delaware | 11 | $58,375 |
| 45 | West Virginia | 9 | $56,862 |
| 46 | Maine | 8 | $61,889 |
| 47 | Vermont | 4 | $63,519 |
| 48 | Alaska | 4 | $62,832 |
| 49 | Hawaii | 4 | $58,384 |
| 50 | Wyoming | 3 | $49,349 |
Top Colleges for Compensation Adjusters
2. University of Pennsylvania
Philadelphia, PA • Private
In-State Tuition
$55,584
Enrollment
10,764
3. Northwestern University
Evanston, IL • Private
In-State Tuition
$54,568
Enrollment
8,451
4. Maine Maritime Academy
Castine, ME • Private
In-State Tuition
$13,478
Enrollment
979
5. University of Southern California
Los Angeles, CA • Private
In-State Tuition
$56,225
Enrollment
19,548
6. California State University - Bakersfield
Bakersfield, CA • Private
In-State Tuition
$7,309
Enrollment
9,142
7. SUNY at Binghamton
Vestal, NY • Private
In-State Tuition
$9,808
Enrollment
13,990
8. Villanova University
Villanova, PA • Private
In-State Tuition
$53,308
Enrollment
6,819
9. San Diego State University
San Diego, CA • Private
In-State Tuition
$7,488
Enrollment
30,018
10. Bentley University
Waltham, MA • Private
In-State Tuition
$49,880
Enrollment
4,177
Top Skills For a Compensation Adjuster
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 16.1% of compensation adjusters listed litigation on their resume, but soft skills such as analytical skills and communication skills are important as well.
Choose From 10+ Customizable Compensation Adjuster Resume templates
Zippia allows you to choose from different easy-to-use Compensation Adjuster templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Compensation Adjuster resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Compensation Adjuster diversity
Compensation Adjuster Gender Distribution
Female
76%
Male
24%
After extensive research and analysis, Zippia's data science team found that:
- Among compensation adjusters, 76.4% of them are women, while 23.6% are men.
- The most common race/ethnicity among compensation adjusters is White, which makes up 61.4% of all compensation adjusters.
- The most common foreign language among compensation adjusters is Spanish at 84.6%.
Online Courses For Compensation Adjuster That You May Like
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How Do Compensation Adjusters Rate Their Jobs?
Top Compensation Adjuster Employers
Most Common Employers For Compensation Adjuster
| Rank | Company | Average Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| 1 | The Travelers Companies | $90,394 | $43.46 | 6 |
| 2 | National Interstate Insurance | $89,521 | $43.04 | 5 |
| 3 | Zurich | $89,009 | $42.79 | 10 |
| 4 | PMA Companies | $87,128 | $41.89 | 8 |
| 5 | Texas Mutual Insurance | $86,379 | $41.53 | 8 |
| 6 | AIG | $75,700 | $36.39 | 22 |
| 7 | Lumbermen's Underwriting Alliance | $73,438 | $35.31 | 6 |
| 8 | Sentry | $71,842 | $34.54 | 7 |
| 9 | CCMSI | $70,889 | $34.08 | 10 |
| 10 | Crawford & Company | $68,143 | $32.76 | 50 |