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Compensation & Benefits Specialist
Career Insights for Compensation / Benefits Specialist
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Scorecard
Based on California data
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What they do
A Compensation or Benefits Specialist evaluates and works to maintain the pay structure and benefits program at an organization. Analyzes wage and salary data and trends, monitors market conditions; works with benefits vendors, processes benefit claims for employees; monitors government employment regulations. May focus specifically on job classifications and compensation or on benefits programs such as pensions.
$75,366 / year median in California
-15% projected decline
Job Description
Responsibilities:
- Administer compensation programs, ensuring employees are supported through accurate processing and clear coordination of plan activities.
- Analyze pay structures, salary data, and market information to help maintain competitive and internally consistent compensation practices.
- Support annual compensation activities such as base pay reviews, incentive planning, commission-related updates, and total compensation analysis.
- Coordinate retirement and savings programs, including 401(k), matching contributions, profit-sharing arrangements, and related payroll deductions.
- Process and validate payroll-related transactions tied to benefits and compensation changes within HRIS and payroll systems.
- Prepare reports, spreadsheets, and data summaries using Excel to track trends, review plan activity, and support decision-making.
- Assist with compensation benchmarking by participating in salary surveys and evaluating external market data against internal pay practices.
- Maintain accurate employee records and support system updates within platforms such as SAP HR Payroll and SAP SuccessFactors HCM.
- Partner with HR and business stakeholders to resolve compensation and benefits questions while ensuring compliance with established policies and procedures
Benefits
- 401(k) Plans
- Dental Insurance
- Employee Stock Options (ESOs)