What does a compensation consultant do?
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.
Compensation consultant responsibilities
Here are examples of responsibilities from real compensation consultant resumes:
- 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.
- Support compensation administration and HRIS implementation
- Develop valuation model for options and other LTI vehicles for use in the survey and on client projects.
- Assist in Ceridian transition to PeopleSoft by auditing and maintaining parallel system.
- Support compensation administration and HRIS implementation
Compensation consultant skills and personality traits
We calculated that 12% of Compensation Consultants are proficient in Human Resources, Project Management, and Data Analysis. They’re also known for soft skills such as Leadership skills, Analytical skills, and Business skills.
We break down the percentage of Compensation Consultants that have these skills listed on their resume here:
- Human Resources, 12%
Developed job structure and career path for newly created Enterprise Project Management Office in partnership with Organizational Development and Human Resources.
- Project Management, 8%
Design, administration, and project management of compensation programs for the organization and assigned business units.
- Data Analysis, 8%
Conducted presentations to interpret complex data analysis and detail how data requirements and documentation efforts support affirmative action.
- HRIS, 8%
Supported compensation administration and HRIS implementation
- Salary Administration, 5%
Developed and conducted corporate-wide training programs for HR and Compensation professionals in Salary Administration, Market Pricing and Executive Compensation.
- Base Salary, 4%
Analyzed comprehensive private salary surveys which included information on base salary, annual incentives, long-term incentives, benefits and perquisites.
"human resources," "project management," and "data analysis" are among the most common skills that compensation consultants use at work. You can find even more compensation consultant responsibilities below, including:
Leadership skills. One of the key soft skills for a compensation consultant to have is leadership skills. You can see how this relates to what compensation consultants do because "compensation and benefits managers coordinate the activities of their staff and administer compensation and benefits programs, ensuring that the work is completed accurately and on schedule." Additionally, a compensation consultant resume shows how compensation consultants use leadership skills: "provide guidance for compensation policies and leadership education of compensation laws and programs. "
Analytical skills. Another soft skill that's essential for fulfilling compensation consultant duties is analytical skills. The role rewards competence in this skill because "compensation and benefits managers analyze data on wages and salaries and the cost of benefits, and they assess and devise programs that best fit an organization and its employees." According to a compensation consultant resume, here's how compensation consultants can utilize analytical skills in their job responsibilities: "provide advice, counsel, analysis and guidance on compensation policies and issues to senior management and hr generalists. "
Business skills. compensation consultants are also known for business skills, which are critical to their duties. You can see how this skill relates to compensation consultant responsibilities, because "these managers oversee a budget, build a case for their recommendations, and understand how compensation and benefits plans affect an organization’s finances." A compensation consultant resume example shows how business skills is used in the workplace: "act as project manager for compensation issues related to acquisitions, business growth, and new business development. "
Communication skills. For certain compensation consultant responsibilities to be completed, the job requires competence in "communication skills." The day-to-day duties of a compensation consultant rely on this skill, as "compensation and benefits managers direct staff, give presentations, and work with colleagues." For example, this snippet was taken directly from a resume about how this skill applies to what compensation consultants do: "led development of automated total compensation planning system in peoplesoft environment to focus management control and communications. "
The three companies that hire the most compensation consultants are:
- Deloitte76 compensation consultants jobs
- Highmark45 compensation consultants jobs
- Wells Fargo38 compensation consultants jobs
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Compensation consultant vs. Hris manager
An HRIS manager or commonly known as a human resource information system manager, is responsible for supporting and maintaining the company's HR systems. They primarily perform the complex task of making sure all HR systems are compliant with labor regulations and regularly updated. Typically, they oversee employee data information, including processing, HR-related report generation, system upgrades, and maintaining data integrity. They supervise the implementation and daily HRIS operation. Moreover, this job requires excellent communication skills, both verbal and written.
While similarities exist, there are also some differences between compensation consultants and hris manager. For instance, compensation consultant responsibilities require skills such as "human resources," "salary administration," "base salary," and "compensation issues." Whereas a hris manager is skilled in "business processes," "hr," "payroll," and "data management." This is part of what separates the two careers.
On average, hris managers reach similar levels of education than compensation consultants. Hris managers are 4.4% less likely to earn a Master's Degree and 1.6% less likely to graduate with a Doctoral Degree.Compensation consultant vs. Benefit director
Benefits directors are professionals who plan and direct the overall design, implementation, and administration of an organization's health and welfare benefits programs. To support the decision making of the management, these directors are required to analyze benefit options and predict future costs. They should study programs so that they can identify benefit options as well as obtain advice from consultants. Benefits directors must study existing and new legislation so that they can comply with federal, state, and legal requirements and advise the management on needed actions.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that compensation consultant responsibilities requires skills like "project management," "data analysis," "salary administration," and "base salary." But a benefit director might use other skills in their typical duties, such as, "oversight," "erisa," "open enrollment," and "hipaa."
On average, benefit directors earn a higher salary than compensation consultants. Some industries support higher salaries in each profession. Interestingly enough, benefit directors earn the most pay in the technology industry with an average salary of $97,541. Whereas compensation consultants have higher pay in the finance industry, with an average salary of $90,881.In general, benefit directors achieve lower levels of education than compensation consultants. They're 5.1% less likely to obtain a Master's Degree while being 1.6% less likely to earn a Doctoral Degree.Compensation consultant vs. Welfare manager
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from compensation consultant resumes include skills like "project management," "data analysis," "salary administration," and "base salary," whereas a welfare manager is more likely to list skills in "hipaa," "fmla," "leave administration," and "plan design. "
Most welfare managers achieve a lower degree level compared to compensation consultants. For example, they're 6.0% less likely to graduate with a Master's Degree, and 2.7% less likely to earn a Doctoral Degree.Compensation consultant vs. Employee benefits director
Even though a few skill sets overlap between compensation consultants and employee benefits directors, there are some differences that are important to note. For one, a compensation consultant might have more use for skills like "project management," "data analysis," "salary administration," and "base salary." Meanwhile, some responsibilities of employee benefits directors require skills like "payroll," "wellness programs," "hipaa," and "employee engagement. "
Employee benefits directors reach lower levels of education compared to compensation consultants, in general. The difference is that they're 6.5% more likely to earn a Master's Degree, and 0.9% less likely to graduate with a Doctoral Degree.Types of compensation consultant
Updated January 8, 2025
