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What is a compensation/benefits specialist and how to become one
The primary responsibilities of a compensations/benefits specialist include, but are not limited to, managing company employee benefits and retirement programs, overseeing the administration of employee bonuses, perks and benefits, advising upper management on employee benefit packages, maintaining relationships with health insurance companies and retirement plan providers, addressing employee and management issues regarding benefits, 401Ks and IRAs, working to provide compensation packages for employees based on business goals and strategies, creating and analyzing job descriptions and classifications, conducting salary and labor market research to identify benchmarks, and assessing employee needs by conducting organizational surveys and periodic audits.
Compensations/benefits specialists are expected to experience in HR operations and a solid understanding of hiring process(es), employment rules, and regulations. In addition, compensations/benefits specialists should possess strong computer, organizational, analytical, interpersonal, and communication skills.
Compensations/benefits specialists often have a minimum of a bachelor's degree in human resources, business administration, or a comparable field, but an advanced degree is not necessarily a requirement for individuals possessing previous experience or the employer's desired skill set. Compensations/benefits specialists can make up to $65,000/year, with job growth in the U.S predicted to increase by 8% by 2029. However, this figure can vary significantly depending upon academic qualification, industry, having previous experience, and possession of the aforementioned skills.
What general advice would you give to a compensation/benefits specialist?
Dr. Magdy Akladios Ph.D., PE, CSP, CPE, CSHM
Professor & Department Chair, Website
Avg. Salary $52,140
Avg. Salary $59,228
Growth rate 7%
Growth rate 0.3%
American Indian and Alaska Native 0.34%
Asian 7.89%
Black or African American 10.53%
Hispanic or Latino 15.34%
Unknown 3.63%
White 62.27%
Genderfemale 78.40%
male 21.60%
Age - 45American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 45Stress level is manageable
7.1 - high
Complexity level is challenging
7 - challenging
Work life balance is fair
6.4 - fair
Compensation/benefits specialist career paths
Key steps to become a compensation/benefits specialist
Explore compensation/benefits specialist education requirements
Start to develop specific compensation/benefits specialist skills
Skills Percentages HRIS 15.27% Cobra 5.41% Compensation Programs 5.10% Open Enrollment 4.59% FMLA 4.42% Complete relevant compensation/benefits specialist training and internships
Accountants spend an average of 6-12 months on post-employment, on-the-job training. New compensation/benefits specialists learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a compensation/benefits specialist based on U.S. Bureau of Labor Statistics data and data from real compensation/benefits specialist resumes.Research compensation/benefits specialist duties and responsibilities
- Integrate efforts on actions and programs where joint OPM functional effort are necessary to accomplish recruitment and enhance organizational effectiveness.
- Generate and distribute FMLA approval/denial notification letters to the requesting associates via certify mail.
- Recognize for improving the tracking system for personnel within the organization allowing oversight and knowledge of all instructors and administrative personnel.
- Interpret requirements documents and benefits structures into enrollment system design using SQL coding used to drive benefit option eligibility.
Prepare your compensation/benefits specialist resume
When your background is strong enough, you can start writing your compensation/benefits specialist resume.
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Build a professional compensation/benefits specialist resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your compensation/benefits specialist resume.
Apply for compensation/benefits specialist jobs
Now it's time to start searching for a compensation/benefits specialist job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first compensation/benefits specialist job
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Average compensation/benefits specialist salary
The average compensation/benefits specialist salary in the United States is $52,140 per year or $25 per hour. Compensation/benefits specialist salaries range between $36,000 and $74,000 per year.
What am I worth?
How do compensation/benefits specialists rate their job?
Compensation/benefits specialist reviews
Being able to assist the organization with structure and design. Making sure employees are in the best position and the correct pay.
Management interference.
Updated January 8, 2025
