The compensation analysts in a company are responsible for maintaining a fair and attractive level of bonuses for the company’s employees. Their job typically begins with rating all of the company’s employees based on their importance and productivity, and then performing a research on the market to determine what their competitors are paying to their valued employees in terms of bonuses, and finally adjust their company’s own bonuses according to the results of their research. A compensation analyst will usually adjust bonuses with a slight degree of personal incentive, rounding the numbers in the benefit of the more valued employees.

To become a compensation analyst, a Bachelor’s degree in a subject related to finances or economics is almost always a requirement. A large portion of the experience required is attained on the job itself, and it becomes a valuable asset in the employee’s portfolio for future career development. In some rare cases, the job can be obtained without a higher degree of education, if the candidate can compensate with sufficient experience in a related position.

The median salary for compensation analysts in 2009 was $71,000, and the job tends to be on the higher end of the pay scale, with salaries of over $90,000 being rather common for experienced analysts that are able to produce satisfying results. Additionally, the education and qualifications of compensation analysts who’re just starting out can affect their initial salary to a great extent, and having a Master’s degree as opposed to a Bachelor’s can make for around $10,000 – $15,000 of a difference.