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Become A Senior Compensation Analyst

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Working As A Senior Compensation Analyst

  • Getting Information
  • Analyzing Data or Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Interacting With Computers
  • Evaluating Information to Determine Compliance with Standards
  • Mostly Sitting

  • $73,310

    Average Salary

What Does A Senior Compensation Analyst Do

Compensation, benefits, and job analysis specialists conduct an organization’s compensation and benefits programs. They also evaluate position descriptions to determine details such as a person’s classification and salary.

Duties

Compensation, benefits, and job analysis specialists typically do the following:

  • Research compensation and benefits policies and plans to ensure the organization’s offerings are current, cost effective, and competitive
  • Use data and cost analyses to compare compensation and benefits plans
  • Evaluate position descriptions to determine a person’s classification and salary
  • Ensure that the company complies with federal and state laws
  • Collaborate with outside partners, such as benefits vendors, insurance brokers, and investment managers 
  • Design and prepare reports summarizing research and analysis
  • Present recommendations to other human resources managers

Some specialists perform tasks within all areas of compensation, benefits, and job analysis. Others specialize in a specific area.

Compensation specialists assess the organization’s pay structure. They research compensation trends and review surveys to determine how their organization’s pay compares with that of other organizations in a particular industry and region. They often perform complex data or cost analyses to evaluate compensation policies. For example, they may research and analyze the cost of different pay-for-performance strategies, which offer rewards such as bonuses, paid leave, and other incentives.

Compensation specialists also must ensure that the organization’s pay practices comply with federal and state laws and regulations, such as workers’ compensation, minimum wage, overtime, and equal pay laws.

Benefits specialists administer the organization’s benefits programs, which include retirement plans, leave policies, wellness programs, and insurance policies, such as health, life, and disability insurance. They research and analyze benefits plans, policies, and programs, and make recommendations based on their analysis. They must frequently monitor government regulations, legislation, and benefits trends to ensure that their programs are current, legal, and competitive.

Benefits specialists also work closely with insurance brokers and benefits carriers and manage the enrollment, renewal, and delivery of benefits to the organization’s employees.

Job analysis specialists, also known as position classifiers, evaluate positions by writing or assigning job descriptions, determining position classifications, and preparing salary scales. When an organization introduces a new job or reviews existing jobs, specialists must research and make recommendations to managers on the status, description, classification, and salary of those jobs.

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How To Become A Senior Compensation Analyst

Compensation, benefits, and job analysis specialists typically need a bachelor’s degree, and some specialists need related work experience.

Education

Most employers require that compensation, benefits, and job analysis specialists have a bachelor’s degree. Many specialists have a degree in human resources, business administration, finance, communication, or a related field. Some employers may accept previous work experience in lieu of a formal degree.

Not all colleges and universities offer an undergraduate degree in human resources, but many offer courses in human resources management, compensation analysis, and benefits administration. Students with a background in other disciplines may benefit from taking courses in business, management, finance, and accounting.

Work Experience in a Related Occupation

For many jobs, compensation, benefits, and job analysis specialists must have previous work experience. Employers commonly require that the previous experience includes performing compensation analysis, benefits administration, or general human resources work. Experience in related fields such as finance, insurance, or business administration, also may be beneficial.

Jobseekers without a degree in human resources must have relevant work experience. Some workers may gain this experience through internships. However, most gain experience from working in human resources.

Licenses, Certifications, and Registrations

Although certification is not required, it can demonstrate professional expertise. Some employers prefer to hire certified candidates, but many employers will have their employees become certified after they are already working. Certification programs for management positions often require several years of related work experience in order to qualify for the credential.

Many associations for human resources workers offer classes to enhance the skills of their members. Some associations, including the International Foundation of Employee Benefit Plans and WorldatWork, offer certification programs that specialize in compensation and benefits. Others, including the HR Certification Institute and the Society for Human Resource Management, offer general human resources credentials.

Advancement

Compensation, benefits, and job analysis specialists may advance to a compensation and benefits manager or a human resources manager position. Specialists typically need several years of work experience to advance.

Important Qualities

Analytical skills. Many specialists perform data or cost analyses to form logical conclusions. For example, they may analyze the cost of choosing a particular salary scale for a class of workers.

Business acumen. Specialists must understand basic finance and accounting.

Communication skills. Specialists often work with employees throughout their organization to provide information on compensation and benefits. They may give presentations or advise managers or employees about compensation policies or benefit plans.

Critical-thinking skills. Specialists must think critically when evaluating job positions, salary scales, promotion practices, and other compensation and benefits policies.

Detail oriented. Specialists must pay attention to detail, especially when ensuring that the organization is compliant with federal and state laws.

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Senior Compensation Analyst jobs

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Senior Compensation Analyst Career Paths

Senior Compensation Analyst
Program Manager Human Resources Generalist Compensation Analyst
Compensation And Benefits Manager
8 Yearsyrs
Hris Manager Compensation Manager
Compensation Director
13 Yearsyrs
Assistant Vice President Office Manager Human Resources Generalist
Compensation Manager
9 Yearsyrs
Human Resources Consultant Human Resources Business Partner Human Resources Manager
Corporate Human Resources Manager
8 Yearsyrs
Human Resources Consultant Director Of Human Resources
Director Of Human Resources Operations
11 Yearsyrs
Director Of Human Resources Chief Executive Officer Human Resources Generalist
Employee Relations Manager
6 Yearsyrs
Senior Manager Marketing Director Human Resources Coordinator
Human Resource Officer
7 Yearsyrs
Compensation And Benefits Manager Compensation Manager Human Resources Coordinator
Human Resources Contractor
9 Yearsyrs
Compensation And Benefits Manager Human Resources Coordinator
Human Resources Generalist/Manager
6 Yearsyrs
Compensation Manager Human Resources Coordinator
Human Resources Manager
7 Yearsyrs
Director Of Human Resources Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Senior Manager Internal Auditor Accounting Manager
Payroll Manager
7 Yearsyrs
Human Resources Coordinator Human Resources Manager
Regional Human Resources Manager
8 Yearsyrs
Hris Manager Human Resources Consultant Human Resources Manager
Resource Project Manager
8 Yearsyrs
Human Resources Manager Director Of Human Resources
Senior Director Human Resources
13 Yearsyrs
Compensation Director Assistant Vice President Human Resources Coordinator
Senior Human Resources Administrator
6 Yearsyrs
Compensation Director Human Resources Consultant
Senior Human Resources Consultant
9 Yearsyrs
Human Resources Coordinator Human Resources Generalist
Senior Human Resources Generalist
7 Yearsyrs
Compensation Manager Human Resources Manager
Senior Human Resources Manager
9 Yearsyrs
Human Resources Manager Senior Recruiter
Talent Acquisition Manager
9 Yearsyrs
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Average Length of Employment
Top Employers Before
Assistant 2.4%
Recruiter 2.1%
Top Employers After
Manager 3.7%
Director 2.2%
Consultant 2.2%

Senior Compensation Analyst Demographics

Gender

Female

62.8%

Male

34.8%

Unknown

2.4%
Ethnicity

White

80.1%

Hispanic or Latino

8.7%

Asian

8.3%

Unknown

2.2%

Black or African American

0.7%
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Languages Spoken

Spanish

27.8%

Cantonese

16.7%

Mandarin

11.1%

Portuguese

5.6%

German

5.6%

Japanese

5.6%

French

5.6%

Dakota

5.6%

Polish

5.6%

Korean

5.6%

Italian

5.6%
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Senior Compensation Analyst Education

Schools

University of Phoenix

21.2%

Georgia State University

6.2%

University of North Texas

5.3%

Northeastern University

5.3%

Cornell University

5.3%

Webster University

5.3%

University of Minnesota - Twin Cities

4.4%

Johns Hopkins University

4.4%

University of Texas at Dallas

4.4%

Texas A&M University

4.4%

Ohio State University

4.4%

San Jose State University

3.5%

American University

3.5%

University of Louisville

3.5%

Michigan State University

3.5%

Montclair State University

3.5%

Northwestern University

3.5%

Baker University

2.7%

Elon University

2.7%

Virginia Commonwealth University

2.7%
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Majors

Business

32.7%

Human Resources Management

21.3%

Finance

7.3%

Counseling Psychology

6.4%

Accounting

5.3%

Management

4.9%

Psychology

4.7%

Economics

2.9%

Marketing

2.4%

Political Science

2.2%

English

1.6%

International Relations

1.1%

Management Science

0.9%

Computer Information Systems

0.9%

Mathematics

0.9%

Business Economics

0.9%

Public Relations

0.9%

Education

0.9%

Sociology

0.9%

Liberal Arts

0.9%
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Degrees

Masters

43.4%

Bachelors

42.3%

Other

7.8%

Certificate

2.6%

Associate

2.2%

Doctorate

1.1%

Diploma

0.6%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Senior Compensation Analyst Salaries

Job Title Company Location Start Date Salary
Senior Compensation Analyst The Vanguard Group Malvern, PA Feb 01, 2013 $134,842
Compensation Senior Analyst Citigroup Management Corp. New York, NY Oct 15, 2011 $110,000
Senior Compensation Analyst NYU Langone Health System New York, NY Aug 22, 2016 $108,626
Senior Compensation Operations Analyst Salesforce.Com, Inc. San Francisco, CA Aug 15, 2015 $100,000
Senior Compensation Analyst Tibco Software Inc. Palo Alto, CA Apr 12, 2010 $99,275
Senior Compensation Analyst Juniper Networks, Inc. Sunnyvale, CA Jun 01, 2013 $98,176 -
$130,000
Senior Compensation Analyst Trinet Hr Corporation San Leandro, CA Aug 22, 2016 $95,451
Senior Compensation Analyst Salesforce.Com, Inc. San Francisco, CA May 31, 2016 $95,035
Senior Incentive Compensation Developer/Analyst TWC Administration LLC Charlotte, NC Apr 11, 2013 $95,000 -
$125,000
Compensation Senior Analyst Citibank, N.A. Tampa, FL May 24, 2010 $95,000
Senior Compensation Analyst Quantcast Corporation San Francisco, CA Mar 17, 2016 $92,581 -
$110,000
Senior Compensation Analyst Blue Shield of California San Francisco, CA Jun 18, 2014 $90,522 -
$110,000
Senior Compensation Analyst Thomson Reuters Holdings, Inc. New York, NY Sep 14, 2013 $90,000
Senior Compenation Analyst DEX One Service, Inc. Cary, NC Jan 10, 2011 $90,000
Senior Compensation Analyst New York University Hospitals Center New York, NY Aug 22, 2013 $88,188
Senior Compensation Analyst, Executive DEX One Service, Inc. Cary, NC Sep 20, 2011 $88,000 -
$92,700
Senior Compensation Analyst, Executive DEX One Service, Inc. Cary, NC Jul 08, 2011 $88,000 -
$90,000
Senior Compensation Analyst Children's National Medical Center Silver Spring, MD Nov 24, 2014 $85,000 -
$110,000
SR. Compensation Analyst Choice Hotels International Services Corp Rockville, MD Apr 18, 2014 $82,000
Senior Compensation Analyst Nbcuniversal Media, LLC New York, NY Aug 29, 2015 $81,000
Compensation Senior Analyst Citicorp North America, Inc. Columbus, OH May 20, 2013 $80,000
Senior Compensation Analyst WP Company LLC Washington, DC Jul 15, 2015 $80,000 -
$100,000
Senior Compensation Analyst Sodexo Remote Sites Partnership, Inc. Houston, TX Feb 15, 2011 $78,000
SR. Analyst, Executive Compensation Gap Inc. San Francisco, CA Oct 28, 2015 $76,500
Senior Analyst, Incentive Compensation Regeneron Healthcare Solutions, Inc. PA Jan 05, 2016 $75,000 -
$85,000
Senior Compensation Analyst Whirlpool Corporation Benton Harbor, MI Aug 10, 2015 $75,000
Senior Compensation Analyst Fiserv, Inc. Brookfield, WI Mar 05, 2010 $75,000
Senior Compensation Analyst University of Miami-Miller School of Medicine Miami, FL Sep 24, 2012 $72,930
Senior Compensation Analyst Employers Mutual Casualty Company Des Moines, IA Aug 27, 2015 $72,900

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Top Skills for A Senior Compensation Analyst

CompensationProgramsJobEvaluationCompensationPlansSalaryStructureJobDescriptionsFlsaSalarySurveysHrisBasePayMarketDataMarketAnalysisSalesIncentivePlansMeritIncreaseBusinessUnitsExecutiveCompensationAnnualMeritProcessPeoplesoftSalaryAdministrationCompensationSurveysBusinessPartners

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Top Senior Compensation Analyst Skills

  1. Compensation Programs
  2. Job Evaluation
  3. Compensation Plans
You can check out examples of real life uses of top skills on resumes here:
  • Designed, implemented, and administered salary budget planning and incentive compensation programs.
  • Managed annual process of market survey data refresh and job evaluation, including survey participation.
  • Administered quarterly commission payments on variable compensation plans for worldwide sales.
  • Analyzed statistical information for salary structures and area differentials.
  • Matched jobs to survey descriptions and perform initial market pricing for various jobs Assisted in revising and maintaining job descriptions.

Top Senior Compensation Analyst Employers

Senior Compensation Analyst Videos

Human Resource Management Lecture Part 05 - Compensation and Benefits

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A Day in the Life - Loan Officer

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