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Part-Time Compensation Consultant
Career Insights for Compensation / Benefits Specialist
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Scorecard
Based on New York 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.
$69,340 / year median in New York
-1% projected decline
Job Description
Responsibilities:
- Conduct compensation reviews and evaluate pay structures to support fair and competitive employee compensation decisions.
- Perform market pricing analysis by comparing internal roles with external salary data and relevant industry benchmarks.
- Lead compensation benchmarking efforts using survey data and labor market insights to inform pay recommendations.
- Analyze compensation and benefits information to identify trends, gaps, and opportunities for program improvement.
- Prepare reports, models, and presentations that summarize findings and support leadership decision-making.
- Partner with HR and business stakeholders to provide guidance on compensation programs, job evaluations, and pay positioning.
- Participate in compensation survey submissions and interpret results to strengthen market competitiveness.
- Support compensation-related projects, including updates to processes, tools, or programs when business needs require changes.