There is more than meets the eye when it comes to being a compensation analyst. For example, did you know that they make an average of $31.96 an hour? That's $66,471 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 5,300 job opportunities across the U.S.
There are certain skills that many compensation analysts 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, leadership skills and critical-thinking skills.
When it comes to the most important skills required to be a compensation analyst, we found that a lot of resumes listed 21.6% of compensation analysts included compensation programs, while 7.7% of resumes included hr, and 7.1% of resumes included job descriptions. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the compensation analyst job title. But what industry to start with? Most compensation analysts actually find jobs in the technology and health care industries.
If you're interested in becoming a compensation analyst, one of the first things to consider is how much education you need. We've determined that 49.4% of compensation analysts have a bachelor's degree. In terms of higher education levels, we found that 37.3% of compensation analysts have master's degrees. Even though most compensation analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a compensation analyst. When we researched the most common majors for a compensation analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on compensation analyst resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a compensation analyst. In fact, many compensation analyst jobs require experience in a role such as human resources coordinator. Meanwhile, many compensation analysts also have previous career experience in roles such as human resources generalist or human resources assistant.