How To Become A Compensation Consultant: What It Is and Career Path

What is a compensation consultant and how to become one

Updated January 8, 2025

4 min read

Compensation consultants assist companies in creating and implementing realistic and beneficial compensation packages for their employees. They provide expert advice regarding the development and modification of benefits packages that the company can afford while also providing competitive benefits that attract new employees and retain existing ones.

Their duties include executive compensation design, salary structures, and custom market pricing, ensuring compensation practices adhere to labor legislation, performing data analysis to ensure equitability, reviewing and assessing pay scales and incentives, and ensuring compensation plans align with the company's profitability goals among others. Educational requirements include a bachelor's degree in human resources management, finance, or relevant field, along with proven experience. Moreover, familiarity with payroll software, excellent analytical and qualitative skills are also preferable.

The average annual salary for this position is $98,271. For a traditional work week, that estimates to $47.25 an hour. The career is expected to grow in the near future and produce opportunities across the United States.

ScoreCompensation ConsultantUS Average

Salary

7.1

Avg. Salary $90,436

Avg. Salary $59,228

Stability level

6.0

Growth rate 2%

Growth rate 0.3%

Diversity

2.6

Race

American Indian and Alaska Native 0.44%

Asian 8.38%

Black or African American 11.19%

Hispanic or Latino 9.99%

Unknown 3.42%

White 66.58%

Gender

female 62.89%

male 37.11%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

6.0

Stress level is manageable

7.1 - high

Complexity level

7.6

Complexity level is challenging

7 - challenging

Work life balance

4.5

Work life balance is fair

6.4 - fair

Key steps to become a compensation consultant

Explore compensation consultant education requirements

Most common compensation consultant degrees

Bachelor's

70.6 %

Master's

20.3 %

Associate

5.5 %

Start to develop specific compensation consultant skills

Skills	Percentages
Human Resources	11.87%
Project Management	8.43%
Data Analysis	7.75%
HRIS	7.61%
Salary Administration	4.68%

Complete relevant compensation consultant training and internships

Accountants spend an average of Less than 1 month on post-employment, on-the-job training. New compensation consultants 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 consultant based on U.S. Bureau of Labor Statistics data and data from real compensation consultant resumes.

Research compensation consultant duties and responsibilities

Lead development of automate total compensation planning system in PeopleSoft environment to focus management control and communications.
Formulate recommendations regarding development of company salary structure, FLSA exemptions, job revisions and organizational structures.
Job evaluations, compensation/performance analysis, HRIS and staff management.
Developed/delivered staff consultant training programs on sales compensation, FLSA, and executive compensation regulations.

Prepare your compensation consultant resume

When your background is strong enough, you can start writing your compensation consultant resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a compensation consultant resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable compensation consultant resume templates

Build a professional compensation consultant 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 consultant resume.

Apply for compensation consultant jobs

Now it's time to start searching for a compensation consultant 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 do compensation consultants rate their job?

-/5

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Compensation consultant reviews

A zippia user wrote a review on Aug 2020

Cons

It needs more patience to apply the true solution and satisfy your client

A zippia user wrote a review on Jan 2020

Pros

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!