Working as a Compensation Analyst

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.

What Does a Compensation Analyst Do

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.

How To Become a Compensation Analyst

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.

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Average Salary$66,471
Job Growth Rate6%

Compensation Analyst Jobs

Compensation Analyst Career Paths

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Average Salary for a Compensation Analyst

Compensation Analysts in America make an average salary of $66,471 per year or $32 per hour. The top 10 percent makes over $83,000 per year, while the bottom 10 percent under $53,000 per year.
Average Salary
$66,471

Best Paying Cities

City
Average Salary

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Worker's Compensation Analyst
Worker's Compensation Analyst
Randstad
Randstad
07/14/2020
07/14/2020
$68,87107/14/2020
$68,871
Executive Compensation Analyst
Executive Compensation Analyst
Gecko Hospitality
Gecko Hospitality
07/09/2020
07/09/2020
$80,00007/09/2020
$80,000
Workers' Compensation & Disability Analyst
Workers' Compensation & Disability Analyst
Osseo Area Schools
Osseo Area Schools
05/20/2020
05/20/2020
$62,00005/20/2020
$62,000
Classification and Compensation Analyst
Classification and Compensation Analyst
Salt Lake City Corporation
Salt Lake City Corporation
05/16/2020
05/16/2020
$58,45705/16/2020
$58,457
Compensation Analyst
Compensation Analyst
Robert Half
Robert Half
05/15/2020
05/15/2020
$90,00005/15/2020
$90,000
See More Recent Salaries

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Compensation Analyst Demographics

Gender

Female

60.3 %

Male

35.5 %

Unknown

4.2 %
Ethnicity

White

61.3 %

Hispanic or Latino

14.1 %

Black or African American

11.4 %
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Foreign Languages Spoken

Spanish

38.9 %

French

10.2 %

Mandarin

6.5 %
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Compensation Analyst Education

Schools

Michigan State University

7.7 %

University of Washington

7.1 %

New York University

6.4 %

Pace University - New York

6.4 %
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Majors

Business

33.6 %

Human Resources Management

18.8 %

Finance

8.5 %

Accounting

7.5 %
Show More
Degrees

Bachelors

49.4 %

Masters

37.3 %

Associate

4.8 %

Certificate

3.8 %
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Entry Level Jobs For Becoming A Compensation Analyst

Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Compensation Analyst

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, 21.6% of compensation analysts listed compensation programs on their resume, but soft skills such as analytical skills and leadership skills are important as well.

Best States For a Compensation Analyst

Some places are better than others when it comes to starting a career as a compensation analyst. The best states for people in this position are California, Montana, Alaska, and Washington. Compensation analysts make the most in California with an average salary of $77,016. Whereas in Montana and Alaska, they would average $76,882 and $76,493, respectively. While compensation analysts would only make an average of $75,693 in Washington, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Rhode Island

Total Compensation Analyst Jobs:
23
Highest 10% Earn:
$110,000
Location Quotient:
1.4
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Delaware

Total Compensation Analyst Jobs:
24
Highest 10% Earn:
$107,000
Location Quotient:
1.58
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Montana

Total Compensation Analyst Jobs:
8
Highest 10% Earn:
$116,000
Location Quotient:
0.52
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Compensation Analyst Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a compensation analyst. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

At Zippia, we went through countless compensation analyst resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Write a Compensation Analyst Resume

At Zippia, we went through countless compensation analyst resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Detailed Information

How Do Compensation Analyst Rate Their Jobs?

Zippia Official Logo

5.0

Compensation AnalystJanuary 2020

5.0

Zippia Official LogoCompensation AnalystJanuary 2020

What do you like the most about working as Compensation Analyst?

I work with all lines of business, from job evaluation to job market analysis to promotion pay recommendation. I mostly work with internal employees and managers who want assistance understanding our pay practices. Must love Excel! Show More

What do you NOT like?

Lack of technology tools in the market to manage large data related to managing job descriptions, job codes, headcount, etc. Show More

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Top Compensation Analyst Employers

1. Sprint
4.4
Avg. Salary: 
$54,716
Compensation Analysts Hired: 
65+
2. Towers Watson & Co
4.7
Avg. Salary: 
$63,322
Compensation Analysts Hired: 
41+
3. Microsoft
4.9
Avg. Salary: 
$124,093
Compensation Analysts Hired: 
38+
4. AT&T
4.7
Avg. Salary: 
$61,738
Compensation Analysts Hired: 
32+
5. Robert Half International
4.5
Avg. Salary: 
$42,552
Compensation Analysts Hired: 
23+
6. IBM
4.7
Avg. Salary: 
$84,673
Compensation Analysts Hired: 
18+

Compensation Analyst Videos

Recently Added Compensation Analyst Jobs

Updated October 2, 2020