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The differences between compensation analysts and senior compensation analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a compensation analyst and a senior compensation analyst. Additionally, a senior compensation analyst has an average salary of $85,796, 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 a senior compensation analyst are compensation programs, human resources, and HRIS.
| Compensation Analyst | Senior Compensation Analyst | |
| Yearly salary | $66,487 | $85,796 |
| Hourly rate | $31.96 | $41.25 |
| Growth rate | 7% | 7% |
| Number of jobs | 19,344 | 17,361 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
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.
A senior compensation analyst is primarily in charge of developing and maintaining compensation programs for a company's employees. Their responsibilities revolve around performing extensive research and analysis to identify employee needs, understanding the extent of every workforce position, conducting surveys, improving existing programs, and learning the compensation programs of competitors. Furthermore, as a senior compensation analyst, it is essential to lead and encourage teams to reach goals and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Compensation analysts and senior compensation analysts have different pay scales, as shown below.
| Compensation Analyst | Senior Compensation Analyst | |
| Average salary | $66,487 | $85,796 |
| Salary range | Between $48,000 And $90,000 | Between $63,000 And $116,000 |
| Highest paying City | Sacramento, CA | Sacramento, CA |
| Highest paying state | Washington | New Jersey |
| Best paying company | Meta | Wedbush Securities |
| Best paying industry | Technology | Real Estate |
There are a few differences between a compensation analyst and a senior compensation analyst in terms of educational background:
| Compensation Analyst | Senior Compensation Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between compensation analysts' and senior compensation analysts' demographics:
| Compensation Analyst | Senior Compensation Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 36.2% Female, 63.8% | Male, 34.8% Female, 65.2% |
| 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, 10.6% Unknown, 3.9% Hispanic or Latino, 14.9% Asian, 7.7% White, 62.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 9% |