Compensation, Benefits, and Job Analysis Specialists Overview
College graduates who have earned a bachelors degree in business or a masters degree in human resources in addition to earning certification should enjoy the best opportunities for employment and advancement. Strong interpersonal skills are required, as they are often interacting with employees. Compensation, benefits and job analysis workers should expect a much faster than average job growth in the next decade.
Nature of the Work for Compensation, Benefits, and Job Analysis Specialists
Compensation, benefits and job analysis specialists are employed in the human resources department. Those in human resources handle employee benefits questions, recruit, interview and hire new staff and increasingly consult with top executive to help with strategic planning. They are moving from behind-the-scenes staff work to leading the company to make business decisions and change policies.
Workers who are employed in a human resources department, such as compensation, benefits and job analysis specialists, work to increase worker productivity and help companies use employees’ skills to the best of their abilities. Most jobs require extensive interaction with employees outside of the human and resources department.
Specific job duties for compensation, benefits and job analysis specialists include implementing compensation programs for employers, or they may focus on one particular area such as position classifications or pensions. For example, job analysts gather and examine information pertaining to job tasks so that they may write job descriptions. Whenever a large organization introduces a new job or review an existing job, job analysts are called upon to provide their expert knowledge on the subject.
Typically, compensation, benefits and job analysis specialists work in clean, comfortable office settings. Most work a standard 40-hour work week, although many must work longer hours in order to prepare for certain negotiations.
Training, Other Qualifications and Advancement for Compensation, Benefits, and Job Analysis Specialists
Most people enter the occupation of compensation, benefits and job analysis specialist with a bachelors degree in business because there are fewer human resources bachelors degrees available. However, undergraduate students are encouraged to take courses in human resources. In addition to these courses, they should also take classes in business administration, behavioral sciences and social sciences. Depending on the industry, a compensation, benefits and job analysis specialist may have specialized knowledge in science, engineering, law or finance.
Some employers require compensation, benefits and job analysis specialists to hold an advanced degree. A masters degree in human resources, labor relations, or business administration with a concentration in human resources management is usually required for those hoping to advance to general and top management positions.
Depending on whether an entry-level worker has a degree in human resource management or have completed an internship, their duties will vary. They mostly learn through performing administrative duties or by entering on-the-job training programs. After training, they may advance to supervisory positions, directing a large element of the human resources program.
Compensation, benefits and job analysis specialists must have strong interpersonal skill and work well with others. Working in human resources offers clerical workers the chance to advance to professional positions with greater responsibility. Other backgrounds include government, education, business and social services administration. Compensation, benefits and job analysis specialists must also have solid oral and written communication skills, as well as training in the ever-expanding technologies and computer systems.
As diversity in the workplace continues to grow, human resources employees must be able to deal with different points of view, demonstrate discretion and function well under pressure. Although most of the information gathered by compensation, benefits and job analysis specialists is confidential, they must show the responsibility of dealing with sensitive employee information.
Some professional associations that focus on human resources offer certification programs, in addition to the standard classes aimed to increase the skills of their members. These certifications can significantly enhance a compensation, benefits and job analysis specialist’s ability to advance in their career. The International Foundation of Employee Benefit Plans offers credentials for those specializing in group benefits and compensation. Applicants must complete specific college courses and pass examinations. While earning these designations, some employees may use that credit toward becoming a Certified Employee Benefits Specialist (CEBS). Four titles are offered by the WorldatWork Society of Certified Professionals: compensation, benefits, work life and global remuneration. Applicants may pursue a Certified Compensation Professional (CCP), Certified Benefits Professional (CBP), Global Remuneration Professional (CCP) and Work-Life Certified Professional (WLCP). Applicants must pass a series a knowledge based exams in order to gain each designation.
Those who do exceptionally well as a compensation, benefits and job analysis specialist may enjoy a promotion to director of human resources or industrial relations. This may eventually lead to an executive or top management position. A Ph.D. in human resources is vital for writing, teaching or consulting work.
Top 10 Most Popular Human Resources Schools
1. American InterContinental University (Multiple Campus Locations)
2. University of Phoenix (Multiple Campus Locations)
3. Webster University (Saint Louis, Missouri)
4. Community College of the Air Force (Montgomery, Alabama)
5. University of Oklahoma, Norman Campus (Norman, Oklahoma)
6. Central Michigan University (Mount Pleasant, Michigan)
7. Park University, NW River Park Dr. (Kansas City, Missouri)
8. Cornell University (Ithaca, New York)
9. Colorado Technical University (Multiple Campus Locations)
10. SUNY Empire State College (Saratoga Springs, New York)
See All Human Resources Schools
Top 10 Most Popular Online Human Resources Schools
1. American InterContinental University - Online School
2. University of Phoenix - Online School
3. Colorado Technical University - Online School
4. Saint Leo University Online
5. Kaplan University - Online School
6. DeVry University - Online School
7. Ashford University - Online
8. Penn Foster High School
9. South University - Online
10. Strayer University - Online School
See All Online Human Resources Schools
Employment and Job Outlook for Compensation, Benefits, and Job Analysis Specialists
Number of People in Profession
Changing Employment (2008-2018)
Employment is projected to grow much faster than average (increase 20% or more).
Of the 904,900 jobs held by human resources, training and labor relations managers and specialists, 121,900 are compensation, benefits and job analysis specialists. They are found in practically every industry, however 13 percent are employed in administrative and supportive services, 11 percent are found in professional, scientific and technical services, 10 percent in healthcare and social assistance and 9 percent are found in finance insurance firms.
Overall employment of human resources, training, and labor relations specialists is expected to grow by 22 percent in the next decade, which is much faster than average for all occupations. An increased demand for human resources experts will arise from legislation and court rulings revising standards in many areas including, wages and retirement plans, among others.
In some cases, job growth will be limited by the increased use of computerized human resources information systems, making worker more productive. Compensation, benefits and job analysis specialists’ employment may be adversely affected by company downsizing, mergers and restructuring. Once they begin to expand again, however additional workers may be needed.
Job prospects should be best for those compensation, benefits and job analysis specialists who hold a bachelors degree in human resources, human resources administration or industrial and labor relations in addition to earning a specialized certificate. Those with a business background and a broad liberal arts education should also find good opportunities. As human resources management becomes a more integral part of the success of an organization, some companies who do not have an established human resources department, may pass on some of those duties to other employees or contract with consulting firms.
As with all other jobs, new compensation, benefits and job analysis specialist positions will arise from the need to replace workers who retire, transfer to other occupations or leave the labor force for other reasons.
Earnings and Salary for Compensation, Benefits, and Job Analysis Specialists
Compensation, benefits and job analysis specialists have a median annual wage of $55,620 and the middle 50 percent earn between $43,340 and $70,130. The top 10 percent earn more than $86,540, while the lowest 10 percent earn less than $34,960. The median annual wages for the top employing industries of compensation, benefits and job analysis specialists are:
Management, scientific and technical consulting services: $59,810
Local government: $56,930
Management of companies and enterprises: $54,930
Agencies, brokerages and other insurance related activities: $53,490
Insurance carriers: $51,890
State government: $43,880
Annual Salary for Compensation, Benefits, and Job Analysis Specialists
On average, Compensation, Benefits, and Job Analysis Specialists earn $ 55,620 per year.
Source: Bureau of Labor Statistics Occupational Outlook Handbook