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The differences between retirement specialists and senior compensation analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a retirement specialist and a senior compensation analyst. Additionally, a senior compensation analyst has an average salary of $85,796, which is higher than the $40,474 average annual salary of a retirement specialist.
The top three skills for a retirement specialist include life insurance, HR and recordkeeping. The most important skills for a senior compensation analyst are compensation programs, human resources, and HRIS.
| Retirement Specialist | Senior Compensation Analyst | |
| Yearly salary | $40,474 | $85,796 |
| Hourly rate | $19.46 | $41.25 |
| Growth rate | 7% | 7% |
| Number of jobs | 24,916 | 17,361 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A retirement specialist is responsible for designing and implementing retirement packages such as benefits, savings, profit sharing, and pensions to the employees of a certain company. They work together with the human resource department to ensure that all retirees can access their benefits and pensions. Their duties and responsibilities include explaining the different retirement packages to the potential beneficiaries and working with HR to resolve any issues.
A senior compensation analyst is primarily in charge of developing and maintaining compensation programs for a company's employees. Their responsibilities revolve around performing extensive research and analysis to identify employee needs, understanding the extent of every workforce position, conducting surveys, improving existing programs, and learning the compensation programs of competitors. Furthermore, as a senior compensation analyst, it is essential to lead and encourage teams to reach goals and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Retirement specialists and senior compensation analysts have different pay scales, as shown below.
| Retirement Specialist | Senior Compensation Analyst | |
| Average salary | $40,474 | $85,796 |
| Salary range | Between $29,000 And $56,000 | Between $63,000 And $116,000 |
| Highest paying City | Newark, NJ | Sacramento, CA |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | Amgen | Wedbush Securities |
| Best paying industry | Finance | Real Estate |
There are a few differences between a retirement specialist and a senior compensation analyst in terms of educational background:
| Retirement Specialist | Senior Compensation Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between retirement specialists' and senior compensation analysts' demographics:
| Retirement Specialist | Senior Compensation Analyst | |
| Average age | 45 | 45 |
| Gender ratio | Male, 52.0% Female, 48.0% | Male, 34.8% Female, 65.2% |
| Race ratio | Black or African American, 10.8% Unknown, 3.6% Hispanic or Latino, 15.4% Asian, 7.7% White, 62.2% American Indian and Alaska Native, 0.3% | Black or African American, 10.6% Unknown, 3.9% Hispanic or Latino, 14.9% Asian, 7.7% White, 62.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 9% |