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Compensation Analyst Job Description

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Overview

compensation analyst
15
The number of occurrences in our database.
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The Compensation Analyst works with human respurces to design compensation packages and bonus plans that align with the company's strategic program. Their role is to ensure that salaries and benefits comply with the current legislation about human rights and pay equity, identify trends, and complete new packages to engage and motivate employees. Their responsibilities are to conduct research on employee fulfillment, renew compensation plans with monetary and non-monetary benefits based on employee shortages, and track compensation and benefit benchmarking data.

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Steps to take to start your career as a Compensation Analyst and other jobs like it

  • Earn a degree in a related field such as human resources, business administration, or psychology. Some employers may prefer candidates with a master's degree in human resources or a related field for higher-level positions.
  • Seek opportunities to develop communication, interpersonal skills, problem-solving, decision-making, leadership, and organizational skills through work experience, training programs, or professional development activities.
  • Gain experience in HR-related roles to build a solid foundation. Entry-level positions such as HR assistant, recruiter, or administrative roles within HR departments can provide valuable experience.
  • Stay informed about changes in laws, regulations, and best practices, current trends and developments in HR through professional associations, continuing education, conferences, and networking with other HR professionals.
  • While not always required, obtaining professional certifications can enhance your credibility and marketability as an HR professional. Common certifications include the Professional in Human Resources (PHR) or Senior Professional in Human Resources (SPHR) offered by the HR Certification Institute (HRCI), or the Society for Human Resource Management Certified Professional (SHRM-CP) or Senior Certified Professional (SHRM-SCP) offered by the Society for Human Resource Management (SHRM).
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Examples of Current Open Compensation Analyst Positions
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indeedImg
Avg Pay: $83K
Jobs: 0
glassdoor
Avg Pay: $85K
Jobs: 13,181

Education you need to become a Compensation Analyst

These are the most common degrees or certificates earned by Jobtrees users prior to becoming a Compensation Analyst

There may be other required degrees or certifications needed for this job. The below info shows you the most commonly desired education level from employers when hiring for this job.

  • Bachelor of Science (b.sc.) in Hotel and Restaurant Management
    The number of occurrences matches with Compensation Analyst in our database.
    Avg. Duration:48 monthsAvg. Fees:$21,814Type:Mostly full timeView more on Studyportals
  • Master Degree in Industrial and Organizational Psychology
    The number of occurrences matches with Compensation Analyst in our database.
    Avg. Duration:17 monthsAvg. Fees:$23,503Type:Mostly full timeView more on Studyportals
  • Bachelor of Science (b.sc.) in Business Management
    The number of occurrences matches with Compensation Analyst in our database.
    Avg. Duration:48 monthsAvg. Fees:$28,989Type:Mostly full timeView more on Studyportals
  • Bachelor Degree in Marketing
    The number of occurrences matches with Compensation Analyst in our database.
    Avg. Duration:48 monthsAvg. Fees:$31,729Type:Mostly part timeView more on Studyportals
  • Certificate in Human Resources Management
    The number of occurrences matches with Compensation Analyst in our database.
    Avg. Duration:11 monthsAvg. Fees:$6,338Type:Mostly full timeView more on Studyportals
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Annual Pay Estimate for Compensation Analyst and Other Important Info

See how many years Compensation Analyst's are in their job, how much they make, how long it took to get there and how available this job is in terms of open positions.

3.9 years
$84K
The average years of experience in the workforce prior to having this role
1.39 years
Experienced
The average number of roles it took our users to get to this one
3
1287 out of 4005

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Career Paths for Compensation Analyst

Find data driven insights on the path to get to this role and where it can lead

Jobs to start your career in becoming a Compensation Analyst

These are the most common roles Jobtrees users had to start their career that eventually lead them to Compensation Analyst. If you’re looking to get into this career these are jobs to consider to get your start. We’ve included below some current open job postings that match those roles. Click to search for more.