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

What is a compensation specialist and how to become one

Updated January 8, 2025

4 min read

Quoted expert

Dr. Magdy Akladios Ph.D., PE, CSP, CPE, CSHM

The job of a compensation specialist falls between the human resource specialist and the compensation and benefits manager. As a compensation specialist, you will be involved in personnel-related planning and decision-making. You'll conduct research and analysis in compensation statistics, market analysis, and the like. Your duties include conducting position evaluations, job classifications, and preparing job descriptions. You'll assess the impact of compensation decisions on the budget. Likewise, you'll ensure compliance with relevant regulations and labor laws. Also, you'll determine staffing needs and develop policies and procedures. Additionally, you'll develop and adjust salary structures and compensation packages.

Employers seek candidates who have a bachelor's degree in human resources, business administration, or a related field. Candidates must have at least three years of related experience. You must possess communication, analytical, interpersonal, computer, and organization skills. Having relevant certifications is a plus. Compensation specialists earn about $70,271 in a year. This varies between $38,000 and $130,000.

What general advice would you give to a compensation specialist?

Dr. Magdy Akladios Ph.D., PE, CSP, CPE, CSHM

Professor & Department Chair, Website

Be a people person. Soft skills are extremely important.

ScoreCompensation SpecialistUS Average

Salary

5.3

Avg. Salary $67,722

Avg. Salary $59,228

Stability level

6.0

Growth rate 7%

Growth rate 0.3%

Diversity

3.9

Race

American Indian and Alaska Native 0.36%

Asian 7.41%

Black or African American 10.59%

Hispanic or Latino 15.40%

Unknown 3.66%

White 62.59%

Gender

female 74.68%

male 25.32%

Age - 45

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 - 45

Stress level

6.0

Stress level is manageable

7.1 - high

Complexity level

8.1

Complexity level is challenging

7 - challenging

Work life balance

6.1

Work life balance is fair

6.4 - fair

Key steps to become a compensation specialist

Explore compensation specialist education requirements

Most common compensation specialist degrees

Bachelor's

62.6 %

Associate

15.7 %

Master's

10.9 %

Start to develop specific compensation specialist skills

Skills	Percentages
Human Resources	12.36%
Compensation Programs	9.99%
Customer Service	9.23%
HRIS	6.66%
Data Analysis	5.09%

Complete relevant compensation specialist training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New compensation 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 specialist based on U.S. Bureau of Labor Statistics data and data from real compensation specialist resumes.

Research compensation specialist duties and responsibilities

Manage contractor terminations/hiring, process exceeding target of updating PeopleSoft within one business day.
Manage special projects including a compensation structure redesign, a performance evaluation redesign and a PeopleSoft implementation.
Evaluate new and current job descriptions for appropriate placement in salary structure and FLSA overtime exemption rules.
Evaluate FLSA status and appropriate salary structure positioning.

Prepare your compensation specialist resume

When your background is strong enough, you can start writing your compensation specialist 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 specialist 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 specialist resume templates

Build a professional compensation 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 specialist resume.

Apply for compensation specialist jobs

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

-/5

5 stars

4 stars

3 stars

2 stars

1 star

Compensation specialist reviews

A zippia user wrote a review on Mar 2020

Pros

Being able to assist the organization with structure and design. Making sure employees are in the best position and the correct pay.

A zippia user wrote a review on Jan 2020