What do Compensation, Benefits, and Job Analysis Specialists Do

Compensation, Benefits, and Job Analysis Specialists

Work Environment

Compensation, benefits, and job analysis specialists held about 91,900 jobs in 2020. The largest employers of compensation, benefits, and job analysis specialists were as follows:

  • Professional, scientific, and technical services - 17%
  • Insurance carriers and related activities - 16%
  • Management of companies and enterprises - 12%
  • 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.

Job Outlook

Employment of compensation, benefits, and job analysis specialists is projected to grow 10 percent from 2020 to 2030, about as fast as the average for all occupations.

About 9,400 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.

Earnings

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.

Academic Programs of Interest


Bachelor of Business Administration
The Bachelor of Business Administration is a bachelor's degree in business studies. In most universities, the degree is conferred upon a student after four years of full-time study (120 credit hours) in one or more areas of business concentrations. The BBA program usually includes general business courses and advanced courses for specific concentrations. Some colleges and universities call the BBA a BSBA (Bachelor of Science... more
Finance
Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. With a finance education you will be equipped with tools for understanding the function and applications of financial markets, the acquisition and allocation of funds for public and private sectors in domestic and international organizations, and... more
Master of Business Administration
The Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The MBA degree has since achieved worldwide recognition. Accreditation bodies exist specifically for MBA programs to... more