Financial Analyst
Median wage · national
$102,740
Range: $79K – $133K
Employed
362K
Openings/yr
25K
Typically: bachelor's degree
BUSINESS
Compensation & Benefits Specialists
Compensation & Benefits Specialists earn $78,210 nationally at the median. The middle 50% of workers fall between $60,890 and $100,400. Where you land depends on specialization, employer, and experience.
About Compensation & Benefits Specialists
Conduct programs of compensation and benefits and job analysis for employer. May specialize in specific areas, such as position classification and pension programs.
- Median Wage
- $78,210
- Employed Nationally
- 112K
- Openings / Year
- 8,500
- Entry Education
- Bachelor's degree
- Job Zone
- Zone 4: Considerable Preparation
Also known as:
Benefit Programs Specialist
Benefits Administrator (Benefits Admin)
Benefits Analyst
Benefits Consultant
Benefits Coordinator
How Much Do Compensation & Benefits Specialists Make?
Compensation & Benefits Specialists earn $78,210 nationally, above the national median for college graduates. The middle 50% of earners fall between $60,890 and $100,400. Actual pay varies by employer, specialization, and location.
$78,210
National Median (Annual)
Above the national median for college graduates.
$61K–$100K
Middle 50% Range
25th to 75th percentile. Most workers earn within this band.
Earnings Range
$60,890
Entry-level
$78,210
Median
$100,400
Experienced
What Do Compensation & Benefits Specialists Do?
O*NET data identifies 5 core activities and 5 measurable skills for Compensation & Benefits Specialists roles. Use this section to judge whether the day-to-day reality aligns with what you actually want to spend time doing.
What You'll Do
- Administer employee insurance, pension, and savings plans, working with insurance brokers and plan carriers.
- Ensure company compliance with federal and state laws, including reporting requirements.
- Research employee benefit and health and safety practices, and recommend changes or modifications to existing policies.
- Advise managers and employees on state and federal employment regulations, collective agreements, benefit and compensation policies, personnel procedures, and classification programs.
- Plan and develop curricula and materials for training programs and conduct training.
Core Skills Employers Look For
Reading Comprehension
Active Listening
Speaking
Critical Thinking
Active Learning
Who Thrives Here
C
Conventional
Success depends on precision and structured processes, where detail-oriented people who work consistently within established systems perform best.
E
Enterprising
Leadership, influence, and business acumen are rewarded here, where managing teams, driving decisions, or persuading others shapes career outcomes.
I
Investigative
This career demands analytical thinking: researching problems, interpreting data, and applying logical reasoning to find practical solutions.
Where Do Compensation & Benefits Specialists Work?
What the physical and mental conditions of this job actually look like day to day, based on O*NET Work Context data collected from people working in this occupation.
Work Setting
Mixed
Split between indoor and outdoor or field settings.
Physical Demands
Light
Mix of sitting and movement throughout the day.
Stress Level
Moderate
Moderate pressure. Regular deadlines exist but are generally manageable with experience.
What Is the Job Outlook for Compensation & Benefits Specialists?
The BLS projects +5.3% employment change for Compensation & Benefits Specialists through 2034, roughly in line with the national average of +5%. About 8,500 openings per year keep the field accessible to new entrants.
↗ +5.3%
10-Year Growth (2024–2034)
About as fast as average.
8,500
Annual Openings
New positions plus replacements for retirees and career-changers.
112K
Currently Employed
Total US employment as of BLS May 2024.
Source: BLS Employment Projections 2024–2034 and Occupational Employment and Wage Statistics May 2024.
Where the Jobs Are
The five states below employ the most Compensation & Benefits Specialists professionals nationwide. State-level wages can differ significantly from the $78,210 national median. Research your specific market before committing to a program.
| # | State | Jobs | Median Wage | vs. National |
|---|---|---|---|---|
| 1 | California | 13,640 | $87,940 | +12.4% |
| 2 | New York | 9,280 | $81,960 | +4.8% |
| 3 | Texas | 7,810 | $73,520 | -6.0% |
| 4 | Florida | 6,560 | $63,280 | -19.1% |
| 5 | Pennsylvania | 3,720 | $65,800 | -15.9% |
Source: BLS Occupational Employment and Wage Statistics, May 2024. Employment figures rounded. Read our methodology →
How to Get Here
Most Compensation & Benefits Specialists positions require a bachelor's degree to qualify. The 4 programs below are the most common academic pathways into this field, ranked by how many graduates they produce each year.
Typical Entry Education
Bachelor's degree
Job Zone
Zone 4: Considerable Preparation
These positions typically require a bachelor's degree and several years of related experience before advancing into senior roles.
Degree Programs That Lead Here
| # | Program | Graduates/yr | 4yr Median | Colleges |
|---|---|---|---|---|
| 1 | Business Administration | 395,227 | $68,257 | 2,611 |
| 2 | Finance | 58,013 | $83,343 | 949 |
| 3 | Human Resources | 25,350 | $68,069 | 812 |
| 4 | Insurance | 2,334 | $88,472 | 106 |
Top Colleges for Aspiring Compensation & Benefits Specialists
Colleges offering the degree programs that lead to this career, ranked by UCD Score. A strong program plus solid outcomes is a good place to begin your search.
| # | College | UCD Score | Net Price | Salary 10yr |
|---|---|---|---|---|
| 1 | United States Coast Guard Academy New London, CT | 96 | — | — |
| 2 | United States Air Force Academy USAF Academy, CO | 96 | — | — |
| 3 | United States Military Academy West Point, NY | 96 | — | — |
| 4 | CUNY Bernard M Baruch College New York, NY | 93 | $3,033 | $75,971 |
| 5 | University of California-Los Angeles Los Angeles, CA | 93 | $12,548 | $82,511 |
| 6 | University of California-Berkeley Berkeley, CA | 93 | $13,481 | $92,446 |
Plan Your Path
Once you've sized up Compensation & Benefits Specialists, these tools turn the numbers into a plan. Estimate the real cost of a degree that leads here, weigh the long-term payoff, compare specific colleges side-by-side, and find programs that match your profile.
College ROI Calculator
See if the degree that leads to Compensation & Benefits Specialists pays off. Weighs each college's cost against the earnings graduates see.
College Cost Calculator
Enter a budget and see the colleges whose net price fits, with the out-of-pocket cost and likely loan load for each.
Compare Colleges
Put any 2–4 colleges side-by-side. Admissions, cost, outcomes, and earnings, all on one screen, no tab-hopping.
College Match Quiz
Answer six quick questions and see your best-fit colleges ranked by budget, field of study, and what matters most to you.
Compensation & Benefits Specialists Pros & Cons
Strong earnings and growing demand make Compensation & Benefits Specialists a compelling path. The 3 strengths and 2 trade-offs below are drawn from BLS wage data and employment projections.
PROS
- Above-average pay At $78,210 median annually, this career pays meaningfully more than most college-graduate roles. Financial return on education is typically strong.
- Steady job outlook The BLS projects +5.3% growth through 2034, keeping pace with the national average. Demand is stable and annual openings remain consistent.
- High earning ceiling Top earners (75th percentile) reach $100,400 annually. Strong performers, specialists, and those in high-cost markets have significant upside beyond the median.
CONS
- Limited annual openings With only 8,500 openings per year relative to field size, competition for available positions is intense. Networking and experience matter more here than in higher-turnover fields.
- Multi-year ramp before career-level pay This is a Job Zone 4 occupation, these positions typically require a bachelor's degree and several years of related experience before advancing into senior roles. Most workers in this field spend their first several years at entry-level pay well below the $78,210 median while building the experience employers require.
Compensation & Benefits Specialists Frequently Asked Questions
How much do Compensation & Benefits Specialists professionals earn?
The national median annual wage for Compensation & Benefits Specialists is $78,210, above the national median for full-time workers. The middle 50% of earners fall between $60,890 and $100,400. Pay varies by employer size, industry sector, specialization, and geography. National figures are a starting point, not a guarantee.
Is Compensation & Benefits Specialists a good career?
For people genuinely interested in the work, yes. At $78,210 median, with +5.3% projected growth through 2034, there is a real financial case and a stable market for new entrants. Compare program net price against local salary outcomes (not just the national median) before committing.
How long does it take to become a Compensation & Benefits Specialists?
Expect 4 years of undergraduate education followed by 2 or more years of field experience before most employers consider you qualified for career-level positions. A bachelor's degree is the typical minimum credential. Degree programs like Business Administration are typical entry paths. Early-career pay during this ramp-up period will be meaningfully below the $78,210 national median. Factor that gap into any program ROI calculation.
What is the job outlook for Compensation & Benefits Specialists?
The BLS projects +5.3% employment change for Compensation & Benefits Specialists through 2034, about as fast as average compared to all occupations. About 8,500 job openings per year are projected, including new positions and replacements for workers who retire or change careers. 112K people currently work in this occupation nationwide (BLS May 2024).
What skills do Compensation & Benefits Specialists professionals need?
O*NET data identifies the core skills employers consistently prioritize for Compensation & Benefits Specialists roles: Reading Comprehension, Active Listening, Speaking, Critical Thinking, and Active Learning. These develop through formal education and hands-on work. Programs with internship or co-op requirements give you a meaningful head start on the ones that take time to build.
Related Findings
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Air traffic controllers earn more than the typical bachelor's-degree career, with an associate degree. The occupations that pay six figures without four years of college.
- No bachelor degree
- High paying careers
- Associate degree
- Trades
- Median wage
-
Does a Master's Degree Pay Off? Barely, on Average
Group every career by the degree it requires and master's-level jobs pay a median of about $91,000, statistically tied with bachelor's-level work. The premium hides in a few fields.
- Master's degree
- Bachelor's degree
- Median wage
- Graduate school
- Career outcomes
-
Growing and Paying $80K Plus: The Careers That Do Both
Only 95 of 385 federal careers both pay a median above $80,000 and grow faster than the typical job. Here is the rare set that clears both bars.
- Career growth
- Median wage
- High-paying careers
- Job outlook
- Career change
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