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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