Collecting and analyzing data from market-based compensation surveys to determine market trends. Location Analysis
Learn about the latest updates for North American minimum wage changes on a monthly basis. The day-to-day duties of a compensation analyst may vary, depending on an organizations needs and the size of its compensation team. Getting certified will help learn everything you need to know about creating a future-proof C&B strategy. new duties in compensation planning? Renew certification every 3 year. 2022 Western Governors University WGU. Select Compensation Analyst Credential and your location
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Science Education (Secondary Earth Science) M.A. However, it will certainly help you differentiate yourself from other candidates and provide you with the skills and confidence you need to perform at work. A compensation analyst works within the Compensation & Benefits or Human Resources department and their role is to help organizations develop fair compensation structures to attract and retain employees by analyzing various data. After you have passed the exam, go to your Training History to view
In the competitive candidate market, organizations need to get their compensation strategy right. Whether you're writing paychecks or wondering where yours comes from, this course is for you! Not only will obtaining these certifications give you a leg up for job hunting, they will also increase your overall value. You may exit a course at any time and later return to the page you left by clicking the Page Index link in
Executive
Mathematics Education (Middle Grades) M.A. They inform, via their research, what to pay each position, how often to give raises, what competitors are offering in their compensation packages, and more. https://www.nasbaregistry.org/, ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP or SHRM-SCP, "You have a very complete offering of on-line courses. Teaching, Science Education (Secondary) M.A. in Human Resources and help build strong organizations. Mathematics Education (Middle Grades) B.S. External factors such as the economic and legal environments will also influence compensation decisions. It includes determining new employees remuneration and regularly reviewing all employees compensation packages (base pay, incentives, bonuses, commissions, and stock options) to ensure they are fair and within the employers capacity. Map out your HR Career path. Applying for a new job in Human Resources? Human resource roles, in general, are projected to grow 7% in the next 10 years, while compensation and benefits roles are projected to grow 8%, according to the U.S. Bureau of Labor Statistics. After you have passed the 12 required CAC courses (listed above), please print
Business Management B.S. this CAC application form and fill it out. Excellent organizational and time management skills. This begins with HR people and compensation analysts needing to have a thorough understanding of their own role within the company itself. Gaining a thorough understanding of the compensation analyst role, its responsibilities, and what skills, competencies, and qualifications you need will help you prepare for future interviews and obtain the role you want. And essential to sales is the management of the sales force. If you are in need of in-depth Compensation training, specifically designed for your individual needs then contact us for details and pricing. Corporate Governance
Benchmarks, ADVICE
will not get the same questions every time. We begin by asking: "To succeed, what kind of a person does your organization need to attract, retain, and motivate?" Conducting data on employee productivity and cost analyses for use in employee negotiations and bargaining agreements. Compensation analysis requires the use of Excel and different types of compensation analysis software to analyze internal and external data relating to salary, benefits, and competitiveness. Compensation, Private Company
Update employee roles and pay into the system as and when required, Salary planning and program administration, Quantitative and qualitative research methods, Microsoft Access, Excel, Office, PowerPoint & Outlook, Bachelors degree in Human Resources or related field, Previous experience in an HR or finance-related field. ContentsWhat is a compensation analyst?A sample compensation analyst job descriptionHow to become a compensation analystCompensation analyst salary. More than two years of education or training after high school required? Researching employee salaries, benefits, and total rewards in similar roles, organizations, and industries and recommending changes based on findings. However, more and more companies are dropping the degree requirement, focusing on candidates skills and experience instead. Compensation
By holding this certification, you will gain a more-competitive resume that will look impressive to potential employers. This role is typically found in larger businesses. Some days are filled with research and others are full of on-the-ground employee assessments. Let us know how best to reach you and a member of our team will be in touch shortly. They are typically analytically minded with an interest in finance, research, and organizational logistics. Complaints regarding registered sponsors may be submitted to the National Registry
Evaluating and implementing job analysis tools, techniques, and materials. According to the Society for Human Resource Management (SHRM), compensation analysts also need: The median pay for compensation analyst in 2022 was $65,905annually, according to Payscale. An entry-level HR position provides the practical experience needed to learn the basics of an organizations salary structure design. Compensation analysts research, implement, and oversee an organizations pay structure. Get started by talking to an Enrollment Counselor today, and you'll be on your way to realizing your dream of a bachelor's or master's degreesooner than you might think! Nursing Nursing Informatics (BSN-to-MSN Program) M.S. Compensation analysts can find a competitive edge in their job search by getting certified in key HR credentials. Find out more about scholarships for new students. Science Education (Secondary Physics) M.A. Stay up-to-date with the latest articles, student stories, and guides from WGU. Following their bachelors degree, analysts might explore options from the International Foundation of Employee Benefit Plans and WorldatWork, which offer certification programs that specialize in compensation and benefits. If you're someone that finds compensation interesting and just want to learn more about the topic, then you'll find this guide informative as well. Nursing - Education (BSN-to-MSN Program) M.S. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. There are several advantages of CAAs Certification Programs including: The Compensation Analyst Academy also provides: Corporate Training: CAA offers high-quality real-world Compensation trainingfrom professionals currently working in Human Resources and customized to meet yourorganizations needs. We analyzed online job postings to determine the most commonly asked-for certifications. Excellent written and verbal communication skills. We're sending an email you can use to verify and access your account. The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. FAQ. Teaching, Mathematics Education (Secondary) M.A. Nursing Family Nurse Practitioner (BSN-to-MSN Program) M.S. Compensation analysts are extremely data driven and detail-oriented in their roles. the final exam (8 out of 10 questions answered correctly). A bachelors of science in business administration with a major in human resource managementis one of the most popular degree paths, as it sets analysts up particularly well for the HR department. To learn more about Compensation Estimates, please see our We're ready to tackle your biggest talent & rewards challenges. Some direct experience within HR or finance through an internship or entry-level administrative role is also usually required. Start the 1st of any monthas soon as you complete enrollment! ), Disclose company data to compensation and benefits surveys in your industry, Manage raises and salary structure for all employees, Analyze compensation package trends to ensure industry competitiveness and employee retention. To that end, IPMA-HR offers two internationally recognized certification programs to the public HR community: the IPMA-CP and the IPMA-CS. Send me more information about WGU and a $65 application fee waiver code. This course provides the knowledge and know how required for careers in sales management. Accurate research and informed recommendations play a role in long-term equity, fair pay structuring, and the overall health of an organization. In addition, we tie up all of our chapters to a real life data sample from our Radford surveys so you can identify how to apply survey data directly to some common and not so common compensation issues. Science Education (Secondary Chemistry) B.S. (There is no charge for retaking an exam, either to get a pass or to
Learn modern and relevant HR skills, online, AIHR All rights reserved. Learn everything from benchmarking salaries and job grading to sales compensation and pay gap analyses. Researching and advising on relevant state and federal laws to ensure the organization remains compliant with its compensation policies. Teaching, English Education (Secondary) M.A. IT Certifications Included in WGU Degrees, See all Health & Nursing Bachelor's Degrees, View all Nursing Post-Master's Certificates, Nursing EducationPost Master's Certificate, Leadership and ManagementPost Master's Certificate. Try our need tool to determine the direction in which you want to progress based on your HR career goals and capabilities. 2022 ERI Economic Research Institute, Inc. ALL Rights Reserved. Whether you are new to compensation, need a refresher or simply want to advance your knowledge, our program will prepare you for the everyday challenges of compensation administration and management. This online credential teaches the basics of salary planning and administration. Sales jobs span nearly every industry, from agribusiness and pharmaceuticals, to telecommunications and property management. This designation is intended for compensation professionals, HR professionals and sales operations professionals with responsibility for any aspect of sales compensation in their organization. This guide was written to cover everything from the basics of compensation such as how to pay and "how much to pay" to more advanced topics including "incentive plans" and "job leveling" (coming at a later date). As employees learn new skills and their value to the organization grows over time, an increase in pay should be expected from both parties. With the labor market constantly in flux, companies that find themselves ready are the ones regularly updating their salary range midpoints. convenient way to learn the fundamentals of this discipline without ever leaving the office. Shani Jay is an author & internationally published writer who has spent the past 5 years writing about HR. Learn about Online College Admissions at WGU. Check out the WGU Blog! Graduate Degrees and Degrees for Licensed Teachers. Science Education (Secondary Earth Science) B.S.