Compensation Analyst Career

Compensation Analysts advise management of companies as to how they can offer the most optimal salary and benefits package to their workforce to bring the maximum out of their workers without incurring any extra cost. Compensation analysts take into account academic qualification, professional experience and nature of work in each case to come up with the right compensation plan for each category of worker within an organization. They have to strike a fine balance between minimizing management’s cost and maximizing workers’ satisfaction level to extract the maximum for the company’s benefit out of this equation.

Pursuing a Career as a Compensation Analyst

Individuals holding experience in human resource management and business administration can become professional Compensation Analysts. Compensation Analysts make use of numerous financial and analytical techniques to formulate compensation plans that can satisfy both management and workers. Compensation Analysts work under the umbrella of different HRM consultancy firms while some analysts are also offered fulltime employment by companies. Experienced Compensation Analysts may also establish their own private consultancy firms.

Compensation Analyst Career: Qualification, Courses, Training

The minimum requirement for the position of a Compensation Analyst is a Bachelor’s Degree in Human Resource Management, Business Administration, Psychology or a related discipline. Related work experience can be of great value for selection. Professional experience is required for the positions of Compensation Analyst, which is why aspiring candidates should serve the HR department of an organization for some time before applying for it.

Compensation Analyst Career: Schools, Colleges, Universities

Compensation Analysts could use the following Business Schools to be the best for the development of their careers.

  • MIT, Sloan School of Management, Cambridge, MA
  • Stanford University, Graduate School of Business, Stanford, CA
  • Pennsylvania State University, Smeal College of Business, University Park, PA
  • Harvard University, Harvard Business School, Boston, MA
  • Loyola University, School of Business Administration, Chicago, IL

Compensation Analyst Career: Job Opportunities, Salaries and Recruitment

Compensation Analysts will be in great demand in the years to come as suggested by the figures from the Bureau of Labor Statistics. The employment growth for the Compensation Analysts is expected to be no less than 46.9% from 2008 to 2018. Compensation Analysts are compensated with an hourly wage of $28.81 on average.

Category: Analyst Careers

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