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Compensation Specialist Careers

There is more than meets the eye when it comes to being a compensation specialist. For example, did you know that they make an average of $32.57 an hour? That's $67,751 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 5,300 job opportunities across the U.S.

What Does a Compensation Specialist Do

There are certain skills that many compensation specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, business skills and communication skills.

When it comes to the most important skills required to be a compensation specialist, we found that a lot of resumes listed 18.5% of compensation specialists included compensation programs, while 9.4% of resumes included human resources, and 7.9% of resumes included job descriptions. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the compensation specialist job title. But what industry to start with? Most compensation specialists actually find jobs in the health care and insurance industries.

How To Become a Compensation Specialist

If you're interested in becoming a compensation specialist, one of the first things to consider is how much education you need. We've determined that 42.8% of compensation specialists have a bachelor's degree. In terms of higher education levels, we found that 21.3% of compensation specialists have master's degrees. Even though most compensation specialists have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a compensation specialist. When we researched the most common majors for a compensation specialist, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on compensation specialist resumes include associate degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a compensation specialist. In fact, many compensation specialist jobs require experience in a role such as compensation analyst. Meanwhile, many compensation specialists also have previous career experience in roles such as administrative assistant or human resources coordinator.

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Average Salary
$67,751
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
15,599
Job Openings

Compensation Specialist Career Paths

Top Careers Before Compensation Specialist

Top Careers After Compensation Specialist

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Compensation Specialist

Compensation Specialists in America make an average salary of $67,751 per year or $33 per hour. The top 10 percent makes over $99,000 per year, while the bottom 10 percent under $45,000 per year.
Average Salary
$67,751

Best Paying Cities

City
ascdesc
Average Salarydesc
San Francisco, CA
Salary Range72k - 117k$92k$92,340
Olympia, WA
Salary Range63k - 102k$81k$80,664
New York, NY
Salary Range62k - 101k$80k$79,928
Boston, MA
Salary Range61k - 95k$77k$76,636
Philadelphia, PA
Salary Range59k - 97k$76k$76,324
Washington, DC
Salary Range56k - 94k$73k$73,321
$32k
$117k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
SR. Compensation Specialist: Data Quality & Reporting
SR. Compensation Specialist: Data Quality & Reporting
Parsons Corporation
Parsons Corporation
01/15/2021
01/15/2021
$89,50001/15/2021
$89,500
Compensation Specialist
Compensation Specialist
Kelly Services
Kelly Services
12/19/2020
12/19/2020
$37,56612/19/2020
$37,566
Compensation Specialist
Compensation Specialist
Robert Half
Robert Half
11/03/2020
11/03/2020
$39,65311/03/2020
$39,653
Compensation Specialist I
Compensation Specialist I
Cherokee Nation
Cherokee Nation
10/27/2020
10/27/2020
$33,78910/27/2020
$33,789
Compensation Hris Specialist
Compensation Hris Specialist
Empire Southwest LLC
Empire Southwest LLC
09/23/2020
09/23/2020
$44,05009/23/2020
$44,050
See More Recent Salaries

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Compensation Specialist Demographics

Gender

female

69.8 %

male

24.9 %

unknown

5.3 %

Ethnicity

White

64.7 %

Hispanic or Latino

16.2 %

Black or African American

9.1 %

Foreign Languages Spoken

Spanish

60.0 %

Portuguese

11.7 %

French

6.7 %
See More Demographics

Compensation Specialist Education

Degrees

Bachelors

42.8 %

Masters

21.3 %

Associate

14.0 %

Top Colleges for Compensation Specialists

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

3. University of Minnesota - Twin Cities

Minneapolis, MN • Public

In-State Tuition
$14,760
Enrollment
31,451

4. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

5. SUNY College at Oswego

Oswego, NY • Public

In-State Tuition
$8,440
Enrollment
7,039

6. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

7. Baylor University

Waco, TX • Private

In-State Tuition
$45,542
Enrollment
14,159

8. Harvard University

Cambridge, MA • Private

In-State Tuition
$50,420
Enrollment
7,582

9. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

10. San Diego State University

San Diego, CA • Public

In-State Tuition
$7,488
Enrollment
30,018
See More Education Info
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Compensation Specialist

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.5% of compensation specialists listed compensation programs on their resume, but soft skills such as analytical skills and business skills are important as well.

Best States For a Compensation Specialist

Some places are better than others when it comes to starting a career as a compensation specialist. The best states for people in this position are California, Rhode Island, New York, and New Hampshire. Compensation specialists make the most in California with an average salary of $83,166. Whereas in Rhode Island and New York, they would average $80,208 and $79,678, respectively. While compensation specialists would only make an average of $78,103 in New Hampshire, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Nevada

Total Compensation Specialist Jobs:
127
Highest 10% Earn:
$121,000
Location Quotient:
1.12
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Vermont

Total Compensation Specialist Jobs:
53
Highest 10% Earn:
$114,000
Location Quotient:
1.27
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Delaware

Total Compensation Specialist Jobs:
78
Highest 10% Earn:
$121,000
Location Quotient:
1.15
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Compensation Specialist Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ compensation specialists and discovered their number of compensation specialist opportunities and average salary. Through our research, we concluded that MetLife was the best, especially with an average salary of $72,565. United States Postal Service follows up with an average salary of $50,533, and then comes Texas Mutual Insurance Company with an average of $79,149. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a compensation specialist. The employers include Atlassian, Purdue University, and Equitrans Midstream Corporation

1. MetLife
4.8
Avg. Salary: 
$72,565
Compensation Specialists Hired: 
27+
2. United States Postal Service
3.6
Avg. Salary: 
$50,533
Compensation Specialists Hired: 
19+
3. Texas Mutual Insurance Company
4.7
Avg. Salary: 
$79,149
Compensation Specialists Hired: 
18+
4. Randstad USA
4.1
Avg. Salary: 
$32,530
Compensation Specialists Hired: 
12+
5. American International Group
4.8
Avg. Salary: 
$76,938
Compensation Specialists Hired: 
12+
6. Abbott
4.9
Avg. Salary: 
$82,269
Compensation Specialists Hired: 
11+

Compensation Specialist Videos

Updated October 2, 2020