What Compensation, Benefits, and Job Analysis Specialists Do About this section
Specialists research compensation and benefits policies and plans.
Compensation, benefits, and job analysis specialists oversee wage and nonwage programs that an organization provides to its employees in return for their work. They also evaluate position descriptions to determine details such as classification and salary.
Duties
Compensation, benefits, and job analysis specialists typically do the following:
Research compensation and benefits policies and plans
Use data and cost analyses to compare compensation and benefits plans
Evaluate position descriptions to determine classification and salary
Ensure that an organization complies with federal and state laws
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 an organization’s pay structure for employees. 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 and cost analyses to evaluate compensation policies. They also ensure that the organization’s pay practices comply with federal and state laws and regulations, such as equal pay laws, minimum wage, overtime, and workers’ compensation.
Benefits specialists administer an organization’s compensation programs that are supplemental to wages, including retirement plans, leave policies, wellness programs, and insurance plans. They research, analyze, and then recommend benefits plans, policies, and programs. They frequently monitor government regulations, legislation, and benefits trends to ensure that their programs are current, legal, and competitive. They also work closely with insurance brokers and benefits carriers and manage the enrollment, delivery of benefits, and renewal to the organization’s employees.
Job analysis specialists, also known as position classifiers, evaluate an organization’s positions by writing or assigning job descriptions, determining position classifications, and preparing salary scales. When the organization introduces a new job or reviews existing jobs, specialists must conduct research and make recommendations to managers on the classification, description, status, and salary of those jobs.
Specialists typically work in offices, briefing workers about benefits and overseeing the enrollment process.
Compensation, benefits, and job analysis specialists held about 100,600 jobs in 2021. The largest employers of compensation, benefits, and job analysis specialists were as follows:
Insurance carriers and related activities
15%
Professional, scientific, and technical services
12
Management of companies and enterprises
11
Local government, excluding education and hospitals
8
Healthcare and social assistance
7
Compensation, benefits, and job analysis specialists work in nearly every industry.
They typically work in offices.
Work Schedules
Most compensation, benefits, and job analysis specialists work full time.
How to Become a Compensation, Benefits, and Job Analysis Specialist About this section
Specialists typically need previous work experience in human resources occupations.
Compensation, benefits, and job analysis specialists typically need a bachelor’s degree and related work experience to enter the occupation.
Education
Employers typically require that compensation, benefits, and job analysis specialists have a bachelor’s degree. Common fields of degree include business, social science, psychology, and communications. Some employers accept additional related work experience in lieu of a degree.
Regardless of major, students interested in this occupation may find it useful to take courses in subjects such as human resources management, finance, and accounting.
Work Experience in a Related Occupation
Employers typically require that compensation, benefits, and job analysis specialists have experience that includes compensation analysis, benefits administration, or general human resources work. Experience in related fields, such as finance, insurance, or business administration, also may be helpful. Some candidates gain this experience through internships. However, others gain experience from working in human resources occupations, such as human resources specialists.
Licenses, Certifications, and Registrations
Although professional certification is not required, it demonstrates expertise. Some employers prefer to hire candidates who have certification, but other employers allow their employees to earn certification after they have begun working. Certification programs often require applicants to have several years of related work experience in order to qualify for the credential.
Analytical skills. Compensation, benefits, and job analysis specialists perform data and cost analyses to evaluate their organization’s policies. They also must be able to interpret the details of contracts and laws.
Business skills. Specialists must understand basic finance and accounting. They help set the wages and benefits packages for new employees.
Communication skills. Specialists need to provide information about compensation and benefits in a way that is understandable to employees at all levels throughout their organization.
Critical-thinking skills. Specialists must be able to evaluate job positions, salary scales, promotion practices, and other compensation and benefits policies.
Compensation, Benefits, and Job Analysis Specialists
Median annual wages, May 2021
Business operations specialists
$76,040
Compensation, benefits, and job analysis specialists
$64,120
Total, all occupations
$45,760
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics
The median annual wage for compensation, benefits, and job analysis specialists was $64,120 in May 2021.
The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $42,760, and the highest 10 percent earned more than $106,160.
In May 2021, the median annual wages for compensation, benefits, and job analysis specialists in the top industries in which they worked were as follows:
Management of companies and enterprises
$77,450
Professional, scientific, and technical services
77,030
Local government, excluding education and hospitals
63,410
Insurance carriers and related activities
62,400
Healthcare and social assistance
60,860
Most compensation, benefits, and job analysis specialists work full time.
Compensation, Benefits, and Job Analysis Specialists
Percent change in employment, projected 2021-31
Business operations specialists
8%
Compensation, benefits, and job analysis specialists
7%
Total, all occupations
5%
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Employment Projections program
Employment of compensation, benefits, and job analysis specialists is projected to grow 7 percent from 2021 to 2031, about as fast as the average for all occupations.
About 9,300 openings for compensation, benefits, and job analysis specialists are projected each year, on average, over the decade.
Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
Organizations will continue to hire benefits specialists to analyze, select, and update their benefits policies. Employee wellness programs are a popular way to reduce healthcare costs. Organizations will need benefits specialists to design, evaluate, and administer these programs.
In addition, organizations must offer competitive compensation packages to attract and keep highly qualified workers. To allocate their compensation funds effectively, many organizations use strategies such as pay-for-performance plans, which may include bonuses, paid leave, or other incentives as part of the compensation package. Organizations will need specialists to analyze these compensation policies and plans and to ensure that they are both competitive and cost effective.
Employment projections data for compensation, benefits, and job analysis specialists, 2021-31
Occupational Title
SOC Code
Employment, 2021
Projected Employment, 2031
Change, 2021-31
Employment by Industry
Percent
Numeric
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program
Compensation, benefits, and job analysis specialists