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The differences between compensation analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a compensation analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $66,487 average annual salary of a compensation analyst.
The top three skills for a compensation analyst include HR, compensation programs and HRIS. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Compensation Analyst | Analyst | |
| Yearly salary | $66,487 | $73,007 |
| Hourly rate | $31.96 | $35.10 |
| Growth rate | 7% | 11% |
| Number of jobs | 19,344 | 253,138 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 67% |
| Average age | 45 | 44 |
| Years of experience | 6 | 4 |
Compensation analysts are responsible for managing company compensation programs by evaluating and analyzing employees' salaries, assist the planning and development of a new and modified sales compensation plan, as well as managing sales compensation short-term incentive programs. The compensation programs are used to improve hiring and boost employee retention. These analysts are skilled and knowledgeable about managing labor costs, benefits structures, and compensation analysis to determine if the employees are fairly compensated.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Compensation analysts and analysts have different pay scales, as shown below.
| Compensation Analyst | Analyst | |
| Average salary | $66,487 | $73,007 |
| Salary range | Between $48,000 And $90,000 | Between $53,000 And $99,000 |
| Highest paying City | Sacramento, CA | Jersey City, NJ |
| Highest paying state | Washington | New Jersey |
| Best paying company | Meta | The Citadel |
| Best paying industry | Technology | Technology |
There are a few differences between a compensation analyst and an analyst in terms of educational background:
| Compensation Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between compensation analysts' and analysts' demographics:
| Compensation Analyst | Analyst | |
| Average age | 45 | 44 |
| Gender ratio | Male, 36.2% Female, 63.8% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 10.5% Unknown, 3.9% Hispanic or Latino, 15.0% Asian, 7.7% White, 62.3% American Indian and Alaska Native, 0.5% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 9% | 12% |