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The differences between compensation specialists and analysts 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 specialist, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $67,722 average annual salary of a compensation specialist.
The top three skills for a compensation specialist include human resources, compensation programs and customer service. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Compensation Specialist | Analyst | |
| Yearly salary | $67,722 | $73,007 |
| Hourly rate | $32.56 | $35.10 |
| Growth rate | 7% | 11% |
| Number of jobs | 32,642 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Average age | 45 | 44 |
| Years of experience | 6 | 4 |
A compensation specialist is responsible for evaluating the organization's benefits package for the employees, following the state regulations and legislation procedures. Compensation specialists identify the staff needs and develop opportunities that would maximize productivity and increase efficiency. They also analyze the market performance to adjust compensation rates according to roles as needed with the coordination of the finance department. A compensation specialist facilitates orientations for new programs and informs the employees about any changes in the payment system.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Compensation specialists and analysts have different pay scales, as shown below.
| Compensation Specialist | Analyst | |
| Average salary | $67,722 | $73,007 |
| Salary range | Between $41,000 And $110,000 | Between $53,000 And $99,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Washington | New Jersey |
| Best paying company | Microsoft | The Citadel |
| Best paying industry | - | Technology |
There are a few differences between a compensation specialist and an analyst in terms of educational background:
| Compensation Specialist | Analyst | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between compensation specialists' and analysts' demographics:
| Compensation Specialist | Analyst | |
| Average age | 45 | 44 |
| Gender ratio | Male, 25.3% Female, 74.7% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 10.6% Unknown, 3.7% Hispanic or Latino, 15.4% Asian, 7.4% White, 62.6% American Indian and Alaska Native, 0.4% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 9% | 12% |