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The differences between compensation consultants and consultants 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 consultant, becoming a consultant takes usually requires 2-4 years. Additionally, a compensation consultant has an average salary of $90,436, which is higher than the $78,912 average annual salary of a consultant.
The top three skills for a compensation consultant include human resources, project management and data analysis. The most important skills for a consultant are customer service, strong analytical, and project management.
| Compensation Consultant | Consultant | |
| Yearly salary | $90,436 | $78,912 |
| Hourly rate | $43.48 | $37.94 |
| Growth rate | 2% | 11% |
| Number of jobs | 11,745 | 171,733 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 64% |
| Average age | 46 | 44 |
| Years of experience | 6 | 4 |
A compensation consultant is responsible for supporting the human resources department's operations by reviewing the organization's compensation policies and programs, ensuring that the guidelines adhere to state regulations and requirements. Compensation consultants conduct market research analysis to identify salary grades according to job positions and financial stability. They also study benefit plans and facilitate the dissemination of information by organizing orientations and utilizing the company's media platforms. A compensation consultant should have excellent knowledge of the payroll processes to respond to employees' inquiries and concerns and settle salary discrepancies.
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
Compensation consultants and consultants have different pay scales, as shown below.
| Compensation Consultant | Consultant | |
| Average salary | $90,436 | $78,912 |
| Salary range | Between $65,000 And $124,000 | Between $58,000 And $107,000 |
| Highest paying City | Berkeley, CA | Washington, DC |
| Highest paying state | Washington | New Jersey |
| Best paying company | Microsoft | L.E.K. Consulting |
| Best paying industry | Finance | Technology |
There are a few differences between a compensation consultant and a consultant in terms of educational background:
| Compensation Consultant | Consultant | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between compensation consultants' and consultants' demographics:
| Compensation Consultant | Consultant | |
| Average age | 46 | 44 |
| Gender ratio | Male, 37.1% Female, 62.9% | Male, 58.4% Female, 41.6% |
| Race ratio | Black or African American, 11.2% Unknown, 3.4% Hispanic or Latino, 10.0% Asian, 8.4% White, 66.6% American Indian and Alaska Native, 0.4% | Black or African American, 7.8% Unknown, 4.5% Hispanic or Latino, 8.7% Asian, 13.8% White, 65.0% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 35% | 12% |