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The differences between pension consultants and compensation specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a pension consultant and a compensation specialist. Additionally, a pension consultant has an average salary of $74,793, which is higher than the $67,722 average annual salary of a compensation specialist.
The top three skills for a pension consultant include calculation, plan administration and ERISA. The most important skills for a compensation specialist are human resources, compensation programs, and customer service.
| Pension Consultant | Compensation Specialist | |
| Yearly salary | $74,793 | $67,722 |
| Hourly rate | $35.96 | $32.56 |
| Growth rate | 7% | 7% |
| Number of jobs | 6,583 | 32,642 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 63% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Pension consultants and compensation specialists have different pay scales, as shown below.
| Pension Consultant | Compensation Specialist | |
| Average salary | $74,793 | $67,722 |
| Salary range | Between $52,000 And $106,000 | Between $41,000 And $110,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | Washington |
| Best paying company | - | Microsoft |
| Best paying industry | - | - |
There are a few differences between a pension consultant and a compensation specialist in terms of educational background:
| Pension Consultant | Compensation Specialist | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between pension consultants' and compensation specialists' demographics:
| Pension Consultant | Compensation Specialist | |
| Average age | 45 | 45 |
| Gender ratio | Male, 51.7% Female, 48.3% | Male, 25.3% Female, 74.7% |
| Race ratio | Black or African American, 10.5% Unknown, 3.7% Hispanic or Latino, 15.4% Asian, 7.9% White, 62.1% American Indian and Alaska Native, 0.4% | 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% |
| LGBT Percentage | 9% | 9% |