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
