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Senior compensation analyst vs benefit specialist

The differences between senior compensation analysts and benefit 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 senior compensation analyst and a benefit specialist. Additionally, a senior compensation analyst has an average salary of $85,796, which is higher than the $48,756 average annual salary of a benefit specialist.

The top three skills for a senior compensation analyst include compensation programs, human resources and HRIS. The most important skills for a benefit specialist are customer service, HR, and patients.

Senior compensation analyst vs benefit specialist overview

Senior Compensation AnalystBenefit Specialist
Yearly salary$85,796$48,756
Hourly rate$41.25$23.44
Growth rate7%7%
Number of jobs17,36131,663
Job satisfaction--
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 59%
Average age4545
Years of experience66

What does a senior compensation analyst do?

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.

What does a benefit specialist do?

A benefits specialist is responsible for analyzing and processing the compensation package of an organization, ensuring that the salary and benefits received by an employee adhere to the current legislation procedures. Benefits specialists develop benefits programs, adjusting pension plans and insurance options as needed, and updating the employees on recent updates and changes. A benefits specialist responds to employees' inquiries, addresses their concerns, and manages benefits issues. A benefits specialist must have a clear understanding of benefits policies and processes to educate employees about the benefits structure.

Senior compensation analyst vs benefit specialist salary

Senior compensation analysts and benefit specialists have different pay scales, as shown below.

Senior Compensation AnalystBenefit Specialist
Average salary$85,796$48,756
Salary rangeBetween $63,000 And $116,000Between $34,000 And $68,000
Highest paying CitySacramento, CASan Francisco, CA
Highest paying stateNew JerseyConnecticut
Best paying companyWedbush SecuritiesQorvo
Best paying industryReal EstateFinance

Differences between senior compensation analyst and benefit specialist education

There are a few differences between a senior compensation analyst and a benefit specialist in terms of educational background:

Senior Compensation AnalystBenefit Specialist
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 59%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Senior compensation analyst vs benefit specialist demographics

Here are the differences between senior compensation analysts' and benefit specialists' demographics:

Senior Compensation AnalystBenefit Specialist
Average age4545
Gender ratioMale, 34.8% Female, 65.2%Male, 21.1% Female, 78.9%
Race ratioBlack 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%Black or African American, 11.0% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.5% White, 62.2% American Indian and Alaska Native, 0.3%
LGBT Percentage9%9%

Differences between senior compensation analyst and benefit specialist duties and responsibilities

Senior compensation analyst example responsibilities.

  • Manage retention program including calculating and paying out all retention amounts and monthly accruals.
  • Manage special projects, develop senior level presentations and handle communications on behalf of SVP
  • Update records for disability area including workers compensation and FMLA.
  • Project management of job evaluation and FLSA classification to support payroll consolidation of a high tech subsidiary.
  • Conduct job analysis / evaluation to determine appropriate FLSA classification and salary level according to compensation guidelines and policy.
  • Develop specifications and team with technology staff to implement performance measurement and merit processing system, including integration with HRIS.
  • Show more

Benefit specialist example responsibilities.

  • Manage various employee program such as life, medical, dental pension, and HSA accounts.
  • Examine HMO documents to verify eligibility to process or reject into or from a manage care plan when necessary.
  • Input daily time and PTO, manage benefits, report new hires, input sales, oversee accounts receivable.
  • Create reports using SQL database and manage reports, perform from internet-base tools for research projects need for client insight.
  • Implement new vendor for FSA administration and manage outstanding issues through continuous follow-up and vendor accountability.
  • Analyze, process and manage FMLA claims to determine eligibility and certification in compliance with state and federal regulations.
  • Show more

Senior compensation analyst vs benefit specialist skills

Common senior compensation analyst skills
  • Compensation Programs, 10%
  • Human Resources, 9%
  • HRIS, 6%
  • FLSA, 4%
  • Data Analysis, 4%
  • Salary Surveys, 3%
Common benefit specialist skills
  • Customer Service, 13%
  • HR, 8%
  • Patients, 5%
  • HRIS, 5%
  • Life Insurance, 5%
  • Cobra, 5%

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