Compensation Specialist

Overview

A compensation specialist supports all aspects of a company’s compensation programs, processes and initiatives.

What responsibilities will I have?

• Assist in the implementation and administration of base pay and incentive programs
• Participate in salary surveys
• Write and update job family descriptions
• Help with position reviews, market pricing and pay analysis
• Develop summaries, reports and routine queries
• Remain abreast of market trends and regulatory requirements
• Work with managers, employees and human resources team members to resolve issues and respond to inquiries
• Prepare and process annual variable pay and annual pay increases
• Troubleshoot basic technical issues in compensation administration systems

What education and training is required?

An associate’s or bachelor’s degree in human resources, finance or a related field is required. You may also consider acquiring a Certified Compensation Professional (CCP) certification.

To pursue a career as a Compensation Specialist:

The following high school courses are recommended: agricultural education, computer and business courses, personal finance, and mathematics.

Where can I work?

Compensation specialists work for medium to large-scale agricultural companies and organizations as well as government agencies and universities.

Future Job Market/Outlook

The future outlook for a compensation specialist will be good over the next five years. 

Suggested Professional Organizations and Associations

• International Society of Workers’ Compensation Specialists
• Society of Certified Compensation Professionals