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.
