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Verification specialist vs compensation analyst

The differences between verification specialists and 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 verification specialist and a compensation analyst. Additionally, a compensation analyst has an average salary of $66,487, which is higher than the $31,564 average annual salary of a verification specialist.

The top three skills for a verification specialist include customer service, patients and data entry. The most important skills for a compensation analyst are HR, compensation programs, and HRIS.

Verification specialist vs compensation analyst overview

Verification SpecialistCompensation Analyst
Yearly salary$31,564$66,487
Hourly rate$15.18$31.96
Growth rate7%7%
Number of jobs26,34819,344
Job satisfaction55
Most common degreeBachelor's Degree, 37%Bachelor's Degree, 73%
Average age4545
Years of experience66

What does a verification specialist do?

The verification specialist's primary role is to make and take calls to employers for the purpose of verifying information stated by an applicant on his/her /her job application. They manage calls inbound/outbound for education, employment, reference, and licensing verification purposes. They also maintain and keep records of all calls handled to ensure all verifications made are followed upon on time. They communicate effectively and proficiently to all parties involved in attaining verification information. Moreover, they do monthly review to quality check all data gathered for verifications.

What does a compensation analyst do?

Compensation analysts are responsible for managing company compensation programs by evaluating and analyzing employees' salaries, assist the planning and development of a new and modified sales compensation plan, as well as managing sales compensation short-term incentive programs. The compensation programs are used to improve hiring and boost employee retention. These analysts are skilled and knowledgeable about managing labor costs, benefits structures, and compensation analysis to determine if the employees are fairly compensated.

Verification specialist vs compensation analyst salary

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

Verification SpecialistCompensation Analyst
Average salary$31,564$66,487
Salary rangeBetween $24,000 And $41,000Between $48,000 And $90,000
Highest paying CitySan Jose, CASacramento, CA
Highest paying stateCaliforniaWashington
Best paying companyJacobs Engineering GroupMeta
Best paying industryInsuranceTechnology

Differences between verification specialist and compensation analyst education

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

Verification SpecialistCompensation Analyst
Most common degreeBachelor's Degree, 37%Bachelor's Degree, 73%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Verification specialist vs compensation analyst demographics

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

Verification SpecialistCompensation Analyst
Average age4545
Gender ratioMale, 23.9% Female, 76.1%Male, 36.2% Female, 63.8%
Race ratioBlack or African American, 11.2% Unknown, 3.7% Hispanic or Latino, 15.2% Asian, 7.3% White, 62.3% American Indian and Alaska Native, 0.4%Black or African American, 10.5% Unknown, 3.9% Hispanic or Latino, 15.0% Asian, 7.7% White, 62.3% American Indian and Alaska Native, 0.5%
LGBT Percentage9%9%

Differences between verification specialist and compensation analyst duties and responsibilities

Verification specialist example responsibilities.

  • Manage the TRICARE information program by presenting information utilizing available media, group presentations, or mailings.
  • Maintain confidentiality of all patient medical information adhering to HIPPA regulations and Medicare / Medicaid policies.
  • Verify primary insurance eligibility by phone with agents or online regarding Medicaid recipients and to determine payment responsibilities to providers.
  • Verify medical coverage and benefits to providers and members, review certain ICD9 and CPT codes.
  • Verify patient effective date of insurance, including CPT and diagnosis codes and general policy information.
  • Receive extensive training on insurance plans and types, HIPAA compliance, PatientPlus programming and other workplace relate topics.
  • Show more

Compensation analyst example responsibilities.

  • Manage vendor relationships with fiscal oversight, and ongoing cost management.
  • Manage long-term incentive plan administration including SARP and stock option granting programs (LTI).
  • Create and manage communication materials via PowerPoint publish to sales organization.
  • Report and manage company healthcare budget and direct all vendor relationships.
  • Manage special projects, develop senior level presentations and handle communications on behalf of SVP
  • Provide oversight of sales compensation short-term incentive programs.
  • Show more

Verification specialist vs compensation analyst skills

Common verification specialist skills
  • Customer Service, 23%
  • Patients, 18%
  • Data Entry, 13%
  • Insurance Verification, 4%
  • Medicaid, 4%
  • Verification Process, 3%
Common compensation analyst skills
  • HR, 12%
  • Compensation Programs, 7%
  • HRIS, 6%
  • PowerPoint, 5%
  • Data Analysis, 5%
  • Customer Service, 4%

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